Can the United States Ban Bitcoin?

Yes and no, the United States can ban the currency but it would be very stupid, as this would slow down the economy and threaten the popularity of the dollar as a global reversal currency

“Imagine if the US banned Internet adoption in the 1990s, citing the ease of terrorist communication, intellectual property protection or confusion over financial transactions,” Jason Deane, Bitcoin analyst at Quantum Economics in London told Newsweek .

“The US would have fallen behind in almost every area of ‚Äč‚Äčinnovation and these innovators would have moved elsewhere to develop their services,” said Deane.

Carlos Betancourt, co-founder of BKCoin Capital in Miami, said well-written regulations can provide “clarity” and improve Bitcoin development.

Many people see bitcoin as a cure for inflation and lies involving money and government. “The only way a government can realistically reduce the adoption and use of decentralized and non-sovereign currencies like Bitcoin is, ironically, by delivering sound monetary policy, thereby reducing people’s desire to use the alternative in the first place.” said Deane.

“The fascination of Bitcoin is that no one can change the rules of the game,” said Betancourt. “The government cannot manipulate Bitcoin. This is extremely powerful because people feel empowered and politicians will not be able to make the wrong decisions – wasting money on projects or printing dollars out of thin air and causing inflation.”

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Post Written and created by Bruno Costa