Some random thoughts on why Bitcoin won’t be banned.

Why can't someone ban Bitcoin?

The answer: Anyone can ban Bitcoin.

But there is a better question here: Why would they?

Banning something does not make something disappear. It only limits access to it.

When it comes to the tools we use in our lives, nobody wants to use the second best tool for anything, especially money.

You want the best tool for the job, and when it comes to storing purchasing power over time and space, nothing can do that job better than Bitcoin. (first immutable ledger in human history - first time we can keep a record of the past and know for certain it has not been manipulated)

So we need to understand that Bitcoin is better money first (which is an entirely different conversation)

Eventually when enough people understand this is the best tool it will become the most widely accepted medium of exchange. Some people will only sell their goods or services in this medium the same way people only sell in USD today.

So, if we believe Bitcoin is better money and all our trading partners also believe this, then what purpose would it do for you to ban yourself from trading with others who accept Bitcoin?

Imagine going to the farmers market this weekend, but you decide to ban yourself and your family from using the US dollar. Can you do that? Yes, but why would you? It would make no sense. While you might be able to find someone willing to trade goods or services without using the dollar, your life would likely become much more difficult than if you simply lifted the ban and used the most common medium of exchange.

Bitcoin is not the common medium of exchange yet, but it is better money. Understanding this allows us to weather the volatility and invest in this asset class as global adoption takes place. Once Bitcoin becomes a common money, banning it will make no sense for anyone.

It’s hard to explain this without first understanding why it is better money and second, that nobody wants to use the second best tool for anything. Simple concept but not easy to understand/explain.

#bitcoin