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Bitcoin can easily be stopped by governments, at least in countries that are not failed states. All they have to do is declare it illegal, and enforce the law.
by b1daly 9y ago
Bitcoin can easily be stopped by governments, at least in countries that are not failed states. All they have to do is declare it illegal, and enforce the law.
It would be trivial for them to shut down exchanges. Without that, it would hard, and expensive, to convert to fiat.
Legit businesses would not accept Bitcoin. The only uses would be black market, and I doubt they would continue using bitcoin on the darknet markets. Without the ability to easily convert to the currency of the country you live in, Bitcoin would have little to no value.
- johndevor 9y agoThe black and grey markets represent nearly 1/3 of the world's economy. They cannot be shut down. The war on drugs is an excellent example of this.