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> I'm not sure how you would go about banning a cryptocurrency (it's been tried 100's of times) I don't think it's ever been tried in a western country. The p
by Symbiote 6y ago
> I'm not sure how you would go about banning a cryptocurrency (it's been tried 100's of times)
I don't think it's ever been tried in a western country.
The process is fairly simple. Pass a law banning it, if necessary with certain exemptions. Arrest and charge people who purchase, sell or even possess Bitcoin.
Most demand will disappear in that country. For the rest, handle it as we already handle similar financial crimes, like tax evasion and money laundering.
- shlant 6y ago> Arrest and charge people who purchase, sell or even possess Bitcoin Can you imagine the amount of resources required to accomplish this? The war on drugs was a massive failure and that was arguably a much easier sell than crypto. As if the US doesn't already imprison enough of it's population... talk about a victimless crime... > Most demand will disappear in that country Not when all you need is internet access. Supply might, but demand will not be effected much. There will also be exchanges hosted in other countries that can be easily accessed. Crypto is made to be resilient and/or hard to trace. The normal avenues of tracking and enforcement (which already can be pretty ineffective) cannot compete. You can act like it's "fairly simple" but, as I have stated, it's been tried and continues to fail.