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Probably more ready than you expect. The logistics behind actually banning Bitcoin are pretty convoluted. Anyone can just run a node, anyone can just transact,
by Taek 5y ago
Probably more ready than you expect. The logistics behind actually banning Bitcoin are pretty convoluted. Anyone can just run a node, anyone can just transact, you can trade btc for cash OTC, there are literally satellites that beam the blockchain updates to every populated corner of the earth, and so on.
Bitcoin has been preparing to be banned at a government level for a long time.
- luma 5y agoBitcoin can work without government, but eventually somebody is going to want to have their coins turned into fiat. Bitcoin has no solution for this problem, if governments make turning your bitcoins back into their own currency difficult/impossible, then the value of your coin holdings is strictly theoretical. Unless you can pay your rent in Bitcoin, you're going to face this problem.