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Bitcoin does not have an "office" that governments can raid. Governments never embraced Bitcoin, they have no choice. It is not within reach of their usual meth
by Ruphin 7y ago
Bitcoin does not have an "office" that governments can raid. Governments never embraced Bitcoin, they have no choice. It is not within reach of their usual methods of control (law enforcement, diplomacy, warfare).
- fivre 7y agoMtGox and BTC-e are somewhat examples to the contrary.
- thrillgore 7y agoAnd what happened to MtGox?
- HenryKissinger 7y agoIt would be very easy for the government to shut down Bitcoin: - Shut down all bitcoin exchanges hosted in the United States - Make it illegal for banks, credit unions, and other commercial financial institutions to allow their clients to make transactions with a crypto exchange (regardless of the countries where the exchange is hosted), or a blockchain
- barnabee 7y agoThis would not shut down bitcoin.
- aflag 7y agoIf that doesn't kill it, they could further make any bitcoin transactions illegal.
- HenryKissinger 7y agoIf you can't convert your bitcoin into fiat, then your only option is to use your btcs to purchase goods and services directly, which would further disincentivize businesses from accepting bitcoin as a form of payment. And if you can't send fiat to an exchange, you can't increase your holdings.
- lawn 7y agoYou can always buy and sell them in person for cash. Like how you buy drugs. The point is the government can severely hurt Bitcoin adoption by making it illegal, but it cannot completely shut it down.
- oceanplexian 7y agoYou could simply convert bitcoin into fiat in the 200+ other countries that are not the United States.
- HenryKissinger 7y agoThis would require you to open a foreign bank account, which you must tell the U.S. government about. Not telling them is a serious crime. See the Foreign Account Tax Compliance Act
- mianos 7y agoI am not sure this would work unless they ban incoming telegraphic transfers.