Bitcoin doesn't give a f#@k

To understand how stupid the argument "government will just ban bitcoin" is, you need to consider this.

Replace bitcoin with gold.

If one or two governments banned gold nothing happens.

If all governments banned gold simultaneously gold wouldn't go away, it would still exist just like bitcoin. If this happened all gold exchanges would close, gold would move to a black market, and because of the legality element it would demand a premium and end up with a higher market value than it had before it was banned. The exact same thing happens when you ban drugs, a black market evolves and the price goes up.

So banning bitcoin would not do anything but put coinbase out of business, create a massive black market for its exchange and give it a higher price than it has today.

If gold was illegal I would want to use it even more. The same is true with bitcoin, banning bitcoin enhances its desirability..

Submitted July 17, 2020 at 06:07AM by slvbtc https://ift.tt/2WskGVm