Post
Topic
Board Bitcoin Discussion
Re: If governments block Bitcoin, does Bitcoin have no value?
by
AicecreaME
on 17/06/2021, 13:51:00 UTC
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?

Illegal activities on bitcoin is one of the reasons why some countries banned it on their place. Government keeps on regulating it because of the rumors about it such as scams and schemes associated with it (like what people say). I think we can request our government to slightly loosen their grip on crypto as long as it's proven that there's really no fraudulent and criminal activities going on. However, we can't do anything if ever they decide to ban it totally. If ever, we can no longer use bitcoin and our coins will be worthless since we can no longer use them.

I also think they can't just block bitcoin that easily because of the blockchain technology it uses. But certainly not all countries will ban it all at the same time, so users can still use several ways to utilize their accounts if ever such thing will happen.