Bitcoin & Crypto & NFT News
I have been trying to get a concrete answer to a question that has been bugging me for a while.
Why can't Bitcoin be banned by central governments if they think it will disrupt their control over the monetary system?
I can see several ways in which the central government can enforce a ban
- Banning banks to deal with exchanges will make it impossible to deposit and withdraw fiat from exchanges
- Using ISP to block all links to Bitcoin on the internet
- Making it illegal to hold bitcoin or run nodes – as they did with gold
- Banning bitcoin mining like China
I feel these issues may be brushed aside when it comes to the discussion of a bitcoin ban by throwing out concepts of game theory, incentives to governments, being left behind etc. These may all be conceptually true but not sure how they work in practice