Re: What If There Is A Ban

We all agree we're living in a crazy world and what's far worse is that it is managed by a bunch of clowns..
So, let's think wildly, one day US were to further increase the censorship just like some of the other countries in the world, they ban bitcoin, they ban VPN, they pass legislation for those who mine/trade/spend btc will be sent to jail.
(Let's not say it's not going to happen. It can! You never know just like you would never have known that there's a war in 2022.)

Other countries start to follow.

Where will you be and what kind of life will it be and how is it going to impact yours?

I understand that many people are saying it's not a problem and bitcoin is decentralized and all that. But we also have to agree that the price would take a hit, it wouldn't be that easy to just let it work that way, it would cause a lot of trouble for many people. I personally believe that many of the Americans who hear that it's illegal or basically regulated harshly, would end up selling all of their coins, definitely the big companies that hold it and they would just run away.

This is why it would be a lot better if we could just hope for USA to never ban it, not like they have a reason to neither so I doubt they would, but it would be better for the price if they keep it legal.

There is just no way you could pass a legislation in most western countries, including the US, to ban Bitcoin. Stricter, more annoying KYC and similar mechanisms? Sure. Restriction on mining and power consumption? Sure. Maybe even state-based licenses for exchanges. Yes. But a complete ban on owning, or even trading Bitcoin? It's not gonna happen unless a totalitarian regime is taking over that wants to harm Bitcoin.
Also, keep in mind - if certain countries ban Bitcoin, they could bring their tech-sector as well as other huge industries in a huge disadvantage in comparison with countries that allow Bitcoin. So even if that happens for some countries, industries etc. will just move into other regions of jurisdiction. Just my 66 sats.

It is not going to work out anyway. We have seen many attempts to ban Bitcoin, but was it ever successful? No, it has never been for a reason! Bitcoin is a decentralized "something" nobody can stop! It is what it is, and for the first time we can either acknowledge or resist, but it will remain to exist!