Question: Bitcoin Ban

 

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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

submitted by /u/huntersz
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247 Bitcoin

Bitcoin & Crypto & NFT News

247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

1 News - 247 News - 1 Search - 1 eBooks

 

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