Post
Topic
Board Bitcoin Discussion
Re: Can Governments Stop Bitcoin?
by
Abiky
on 24/02/2021, 15:20:20 UTC
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.html

Governments can't stop the Bitcoin blockchain itself, but they can control centralized exchanges in order to prevent people from using it. It's as simple as declaring Bitcoin an "illegal" currency. By then, it won't be possible to buy/sell Bitcoin to/from Fiat via centralized exchanges. People will to have to conduct trades in-person in order to circumvent government restrictions. The Blockchain will continue to work as intended as long as there are miners and nodes supporting it.

No matter how many obstacles governments put through, they won't be able to destroy Bitcoin in its entirety. That's thanks to its distributed and decentralized design. Besides, not every country will be against Bitcoin. We all know that governments worldwide differ from one another. It's impossible for all of the world's countries to reach a common agreement. That's why I believe that governments' efforts to destroy Bitcoin, will be in vain. As it's said in the real world, "if you can't beat them, join them". It shouldn't be long enough before most (if not all) countries around the world accept Bitcoin as a legitimate cryptocurrency in the mainstream world. With central banks already joining the crypto/Blockchain revolution (with the issuance of CBDCs), it seems to me that Bitcoin will be here to stay for a long, long time. Just my thoughts Grin