Re: If governments block Bitcoin, does Bitcoin have no value?
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
So who is making up all these statistics? I transferred 1 bitcoin to my brother the other day... what government agency tracked that transaction and then categorized it as legal or illegal? OP's thumb must be bright red from all this thumb sucking numbers and statistics.. right.
Governments does not determine Bitcoin's value, because the value is determined by Supply & Demand. So, government will target the centralized trading platforms and merchants to influence the demand. What will happen when the governments target these centralized platforms..? Well, they go decentralized and they go onto the Dark markets.... and governments do not get their taxes from those transactions.
