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Banning it makes no difference other than possibly slow down it's adoption. Does banning the purchase and sale of drugs stop people buying and selling drugs? A
by npoc 2y ago
Banning it makes no difference other than possibly slow down it's adoption. Does banning the purchase and sale of drugs stop people buying and selling drugs?
And as bitcoin is digital, it makes it far harder to stop as I can send it to anyone else via an encrypted digital communications channel that the state is unable to read.
And there will always be one country that doesn't ban it, and thrives from the use of hard money, rather than monopoly money tokens that are fiat currencies like $£ etc.
What is far more likely is that other major countries see bitcoin's potential as future global reserve asset and stock pile it. If they are right, then the USA will be left "holding the bag" of worthless US dollars, and be left with relatively any bitcoin either i.e. it will be broke. The USA will forsee this, and you'll end up with a mad rush to buy bitcoin before other nations do. Nation-state FOMO.