Let me clarify.
Governments may declare Bitcoin and cryptocurrencies unlawful, however that wouldn’t imply they may implement them. That’s the case for different issues, not simply cryptocurrencies. So there’s a distinction between declaration and execution. Everyone knows that simply because one thing is said unlawful doesn’t imply that it may be enforced. When you actually thought in any other case, you would need to assume that governments are all highly effective.
Nonetheless, governments may definitely hurt Bitcoin. By banning it, they’d severely weaken Bitcoin, though Bitcoin would nonetheless survive. They couldn’t totally apply it, however perfection shouldn’t be the related commonplace. What’s related is whether or not governments may hurt Bitcoin, and the reply is clearly ‘sure’. Due to this fact, now we have one other distinction: the excellence between weakening versus whole elimination.
Nonetheless, in my view, the most definitely situation is that governments will impose extra taxes on Bitcoin. That is our closing distinction: prohibition versus taxes. Whether or not you withdraw cash or use Coinbase, the US authorities will find out about your crypto and demand their share. They already do, so this isn’t science fiction. The alternative conclusion is that it isn’t simply science fiction, however illusions and a libertarian fantasy.
Photograph by Bermix Studio on Unsplash