Can Bitcoin be banned by the government? Short answer— no. Long answer— technically. But ultimately, any ban is highly unlikely (and would not be in the interest of nation-states). If a ban on Bitcoin were enacted somewhere, however, there would be no way to enforce said ban. In fact, many countries have already tried banning Bitcoin one way or another — Bolivia, Ecuador, Russia, India, China, etc. — just to name a few. But because of how Bitcoin is built — as a permissionless, pseudonymous medium of exchange — it's about as effective as the government trying to ban free thought.
🎄 Day 16: Can Governments ban Bitcoin?
🎄 Day 16: Can Governments ban Bitcoin?
🎄 Day 16: Can Governments ban Bitcoin?
Can Bitcoin be banned by the government? Short answer— no. Long answer— technically. But ultimately, any ban is highly unlikely (and would not be in the interest of nation-states). If a ban on Bitcoin were enacted somewhere, however, there would be no way to enforce said ban. In fact, many countries have already tried banning Bitcoin one way or another — Bolivia, Ecuador, Russia, India, China, etc. — just to name a few. But because of how Bitcoin is built — as a permissionless, pseudonymous medium of exchange — it's about as effective as the government trying to ban free thought.