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What do you suppose would really happen to Bitcoin globally, if the U.S. were to impose Chinese-style laws? Or even a fraction of that? For one thing, you can forget about rooting for $100k... For one thing.
I myself will continue using Bitcoin no matter what—as long as there is anyone else using Bitcoin. I have advanced technical expertise, and I am ideologically motivated to use Bitcoin regardless of its market value. How many are like me?
Following the China mining ban, what proportion of the global hashrate moved to the U.S.? How many of those miners would continue to operate under adverse regulation? Under an outright ban? In other plausible scenarios?
Bitcoin is resilient. But a major part of its resilience is in its people, not in technology. There are no technological solutions to some problems. Complacency when the writing is on the wall is one of those problems. I am doing my part right here, right now, to try to help solve that problem.
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If US bans bitcoin China and Russia would probably embrace it. The enemy of my enemy... kind of a thing, that's the funny thing about the world that most seem to miss. As far as US, probably same thing would happened when US banned drugs, sure Wall st would leave, price would temporary collapse, but the heart beat will continue and pump out a new block every 10min. If there's a demand for something human laws seem to take a secondary role.
As far as hashrate, there are other countries besides China/US, i believe lots of miners moved to Kazakhstan. As long as there's a demand for BTC miners will seek out the lowest priced electricity on this planet, with tolerable laws or corrupt enough enforcement of those laws. If there's enough incentive consequence be damned.