If the dollar was defendable, this logic would make sense.
But, i feel it falls apart as the dollar falls apart.
To many of the big people are trying to escape the dollar. And they are doing it slowly trying not to cause waves.
The OTC for gold and bitcoin are rumored to be multiples of what is touted on coinmarketcap.
As more big people are into bitcoin, the politcos will be encouraged to see bitcoin nicely.
And as the dollar crashes, bitcoin will be a huge winner.
The only trouble is when?
The other problem will be that the Infernal Revolting Syndicate will try to swindle as many people out of bitcoin as possible.
While that may be true, there is a president in the White House that is a bit of loose cannon, and one that absolutely loves the dollar. I wouldn't put it past him to come up with an executive order banning bitcoin... and he may be there for another 4 years...
Okay, so he bans Bitcoin.
Much like banning poker, this involves making the banking transaction illegal. It won't be illegal to own Bitcoin, it will be illegal for the bank to process the transaction. How hard is it going to be for people to get around this restriction?
That's exactly why it will never happen. They will try to filter as much volume through Coinbase as humanly possible to make it as easy to track as it can be. Banning it is a huge mistake. It's much harder to control when you create a black market like that. They know this.
Also, Trump is not a loose cannon; he is a cowardly puppet. He is the most cowardly and most puppet-like president we have ever had in American history. He does what his masters command and has decades worth of on screen experience to make it look like it's all his idea. It's all very good-cop bad-cop... or maybe just bad-cop proxy bad-cop.
Haha perhaps.
Regarding the ban...
I mean they could go as far as making it illegal to posses, trade, transact, own, mine etc etc etc...
Will that be hard to enforce?
Yep, absolutely, but it doesn't mean they wouldn't/couldn't try it and it likely would have devastating consequences to the price, at least in the short term.
Eventually they may realize it is very difficult to police and give up, or they may be so successful at it, they basically kill it.
We shall see I guess, though hopefully they don't even attempt to go this route.
I feel like if the US were to have another major terrorist attack and it came out that it was financed by bitcoin, the knee jerk reaction by our commander and chief would be to ban it...
Here's to hoping we don't ever have to ever worry about this as bitcoin establishes itself and is used by people so much to the point it's virtually impossible to ban!
The more it is used and established, the harder it would be to kill!
Bitcoin is not America. You have only 300M citizens.
Although that is true, recent trading figures suggest that roughly half of all the bitcoin and crypto trading takes place in the US... I would love it if some other countries would step up, but so far they are not.
it will backfire on them if they ban it they will get left behind
china and india tried banning it and china is all for it and i done think they will ban it since they cant shut it down
they will be joining cryptos wether they can totally track and regulate it is another story but stopping crypto is impossible and dont let anyone tell you different
they CANNOT turn off the internet on the whole planet and soon we will be able to access the web without internet so this idea of the govt banning BTC is complete nonsense in my eyes
but the war on cryptos is heating up
theres been a war on cryptos since BTC hiot over a 1000 and its due to continue for a long long time since govt cant shut it down and will have to join and figure out if and how they can control and regulate it
good luck to them lmao