A long read article by Alex Gladstein is chief strategy officer at the Human Rights Foundation, a non-profit that supports civil liberties in authoritarian societies.
Link to article:
https://usdtalk.com/thread-114.htmlGovernments can stop bitcoin just not accepting bitcoin payments to the government. It is a decentralized peer-to-peer network, how can you stop it?! It is hard to believe that one day Bitcoin will be banned and they stop working. Even though governments can ban bitcoin, the network will work unless government officials move houses one by one to determine who are the nodes. By the time they destroy one node, many will be created.
They may ban the institutions from using bitcoin. It can be bad news for the bitcoin community. If there is no demand for using bitcoin then price and interest will decrease significantly. This can be life-threatening for bitcoin.
Central Banks are working on the central bank digital currency CDBC. It is the blockchain technology buy centralized blockchain. Banks will have superior power over the chain. This may affect the popularity of Bitcoin. Nevertheless, it is not so threatening for bitcoin. Because they will issue digital money pegged to the fiat currency which is inflatable and it will lose value gradually. Even though they seem stable but the connection between fiat currency will make them less valuable in the future.