Post
Topic
Board Bitcoin Discussion
Re: What If There Is A Ban
by
tiCeR
on 27/02/2023, 23:39:57 UTC
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?


Indeed it is possible but many countries are taking a friendly approach on Bitcoin.  A government can't just change its stance without proper procedure.  My country already acknowledges Bitcoin as a mode of payment, so it is highly unlikely that my country will ban Bitcoin.  They may regulate it but I think that is as far as the government can go.  Another country that can be a place haven for Biitcoin is El Salvador.  With a huge amount of money that is injected to their Bitcoin venture, I do not think that El Salvador will ban Bitcoin.

I don't know whether it is about countries taking a friendly approach regarding Bitcoin. But even if a state decides not to be friendly, if they sufficiently understand the technology they would know that there possibilities to stop Bitcoin are limited anyway. You would have to implement absolutely drastic measures to effectively fight it, but any large scale enforcement of anti-Bitcoin laws would probably be prohibitively expensive if you want to sustain enforcement for a longer period of time. It is a double edged sword and while a country keeps fighting Bitcoin others might decide to welcome it and get an advantage over countries that are against it. Back in the early days there was an article from China that it wants to ban Bitcoin like every two weeks, but now they are quite quiet.