Quote from: TheGreatPython on July 15, 2020, 09:26:51 PM

I do know that, you can’t really ban Bitcoin. It’s just like talking about regulating cryptocurrency; cryptocurrency cannot be regulated, except through exchanges.

If your cryptocurrency is not on an exchange, then the government cannot regulate or have any control over it. And the exchanges that I am referring to are the ones that are Centralized, because these are the ones that are being controlled by the government, so whatever you’re doing with them they will giving info to the government. So cryptocurrency cannot be banned, even if it’s banned, people will still be using it secretly.

Exactly. We all know it's practically impossible to take down over the entire Bitcoin network due to its distributed and decentralized design. The only way governments are able to enforce regulations is through centralized exchanges. Imagine if people started using decentralized exchanges on top of centralized ones? It'll be a complete nightmare for governments worldwide as their efforts to restrict the usage and trading of Bitcoin becomes in vain.

Russia has finally realized that Bitcoin is truly unstoppable, and it may only be a matter of time before other countries follow. I've seen countries that were unfriendly towards crypto and Blockchain technology, only to change their stance at a later time. India, is a good example of a country that once restricted the use of Bitcoin and other cryptocurrencies. Turns out that the Indian government realized its efforts were in vain, leaving them with no choice but to accept Bitcoin and altcoins as legal tender. I believe that all the countries of the world will do the same as long as they're able to tax them. Even if Bitcoin is declared "illegal" in the future, there's nothing stopping anyone from getting access to the Blockchain. In this scenario, transactions and trades will be performed "under the table" and outside the scope of governments and other third parties. It'll be like an underground decentralized economy empowered by everyday people like you and me. But this is very unlikely to happen anytime soon, since governments have realized the true benefits of supporting Bitcoin in every way. Ultimately, Russia will collect taxes from Bitcoin users, resulting in a win-win situation for both the Ruble and BTC. Just my thoughts Grin