The government's role towards Bitcoin has been more negative than positive, and here we are, Bitcoin continues to survive. Thanks not to the government but the huge Bitcoin community, so let's not misrepresent facts.
Bitcoin is just a financial market, its rise and fall depends on the cash flow of the market and the United States is the country that controls the world financial market as well as the largest market in the world. Don't deny their role and influence.
No doubt that the top world countries' actions affect Bitcoin, especially the US, because Bitcoin is paired with the greenback (BTC/USD). But has that been the reason for Bitcoin to skyrocket over the years? Heck No! Like I said, thanks to the diehard community of Bitcoin that sustained it to this time, and also attracts more adoption.
Suppose the country that bans bitcoin is not China but the US, the world's largest financial market. What would happen and what bad things would happen next if the EU, its allies and much of the world followed the US lead?
Bitcoin is what it is today thanks to its strong community, but how many people in the community are brave enough to fight against the ban to support it if the government decides to eliminate it?
Remember, the US government never banned bitcoin, if they did, bitcoin would be very different than it is now.
Look at the impact of bitcoin ETFs in the US or the idea of strategic bitcoin reserves...it would never have become popular if the US hadn't initiated it.
I don't like the US but I can't deny their role and influence in every corner of the world, a small market like bitcoin is nothing.
By the way, do you remember the mixer service? Do you still see anyone mentioning it or any other service that was active on this forum after they decided to ban it?
I would have to sell off my crypto if USA banned it.
Heck right now coinbase has limited my account.
They will not accept
A NJ real id drivers license
A passport
Bank statements showing 36000 in pensions
Plus my wife's pension over 60000
My ebay sales of over 55000
Paypal member for 20 years
Stellar credit rating
Lived in same house for 30 years
And all rejected
For kyc
My name is rare no one has it but me
I am a 22 year ebay seller with 2000 plus feedbacks and no negatives
I spent hours trying to fix the issue.
So yea btc and all of crypto is weak when a company as big as coinbase chooses to do something like this.
I HAVE BEEN WITH COINBASE since 2014 all my tax records are held with them.
So just expand this to a lot of USA people and crypto is fucked.
The crypto world is legit so to,speak and look what a large company can do to harm it.