It is curious that people think:
“What if governements ban #Bitcoin? Isn't that a risk?”
I say: IF it were possible, yes.
But a global, authoritarian, communist power like China couldn't do it, and only made it stronger in the process.
#bitcoin #plebchain #nostr
It can certainly be banned. Yes they won't stop miners and nodes, but they can ban business from accepting #Bitcoin. And unless you run a black market business, the government can enforce this. Do you think a coffee shop owner is going to risk getting her business shut down and being imprisoned, just to accept Bitcoin?
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Valid point, but i think you're minimizing the will of the common people to survive! Businesses been avoiding taxes for centuries, and you think accepting bitcoin in case of a ban would be a problem?
Depends on the jurisdiction, but yes.
Most businesses in most significant economies do pay taxes.
A business can't really accept Bitcoin without people knowing about it. And it would only take a simple zero-tolerance policy and 3 minute "sting" operation to shut it down. In almost any jurisdiction, pretty much by definition, a government can shut down any business, confiscate structures and land itself. This is not just theoretical, though maximalists, anarchists and preppers may beg to differ. There is extensive naivete in the crypto community.
Its not that governments can, its that governments are doing exactly that! And people are accepting and surviving on bitcoin and cripto. There is naivete that people won't do it because they are afraid, they are doing bacause they are afraid...
Please specify which jurisdiction you are talking about. China? Are people "accepting and surviving on" Bitcoin in China?
I do understand your point about fear. There is some level of irony. You don't really care about using it until you're afraid, but then you become afraid to use it. Likewise the government doesn't really need to intervene, until people start using it.
I think my main point is that bitcoiners are too focused on the difficulty of stopping all nodes, without considering the loss of value proposition when *transactions* are effectively stopped.
We can zap each other back and forth for 20 years, meanwhile the "real" economy doesn't accept Bitcoin as currency.
This is where people like to talk about a borderless, visa-less, world citizen that just migrates to El Salvador or something.
