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At that time it will be impossible to ban because a large percentage of the US population will be exposed to it. If in spite of that they do decide to ban it th
by adhoc32 6y ago
At that time it will be impossible to ban because a large percentage of the US population will be exposed to it. If in spite of that they do decide to ban it there is not much they can do except ban the exchanges. The Bitcoin network is impossible to ban without heavily censoring the internet.
Also what the US is going to do about the other countries of the world, invade them in order to ban the BTC?
- dodobirdlord 6y agoBanning the exchanges is about all it would take. Besides, the current chorus is that large companies moving a share of their cash holdings into Bitcoin will drive the price way up. If the government bans Bitcoin then that's not going to happen.
- adhoc32 6y agoMost probably a US ban will crash the price, but it will recover in time. Also it will establish a black market in the US which is the worst possible scenario for the authorities as they would have absolutely no control over it.
- dodobirdlord 6y agoThere already is a black market in for Bitcoin in the United States, that's basically all Bitcoin is used for these days aside from speculation. The fact that it would become a black market for Bitcoin itself doesn't change much. Almost all Bitcoin purchases these days are done through exchanges and held on exchanges, managing Bitcoin wallets is enough of a technical challenge that it will never be in any way widespread without the support of exchanges.