Governments are going to ban bitcoin when they launch their CBDC

What the FUD is this?

The idea that nation states can ban, outlaw or prohibit bitcoin in some way, and that they will do so once they launch their Central Bank Digital Currencies to ensure no-one can escape their centralized blockchain crypto-fiat.

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    Bitcoin is decentralized which makes is impossible for a government to ban it. The distributed ledger is synchronized over so many independently running nodes that you’d have to shut down the entire internet to interrupt bitcoin.

    “I think we were past that point [of shutting down bitcoin] very early on because you’d have to shut down the Internet I don’t see how you could ban it. You could certainly make the effort. It would be very hard to stop people from [trading Bitcoin]. So I think it would be a foolish thing for the government to try to do that.”
    SEC’s Hester Peirce


    In countries that have attempted to pass and law to make it punishable to use bitcoin in some way have seen bitcoin use increase, sometimes drastically, as a result.

    The ban it does not appear to have curbed appetites for crypto. Bitcoin trading volumes on Paxful and LocalBitcoins topped $9m in the seven days ending March 8, according to, compared to roughly $7.55m in the seven days ending February 8.

    The data suggest that despite the CBN directive, Nigerians are determined to leverage cryptocurrencies to increase their earnings, especially with rising inflation and limited access to foreign exchange liquidity.

    “The ban was never going to stop a ship that is far gone on sail,” Eric Annan, co-founder of cryptocurrency trading platform KuBitX, told Al Jazeera.

    Annan said if anything, the CBN directive only served to amplify the popularity of Bitcoin and pique the curiosity of crypto sceptics.
    Al Jazeera


    Bitcoin adoption has taken us to the point where significant number of political figures and large businesses are tied to bitcoin in some way. This can be seen in US Senators publicly holding bitcoin, to large companies holding bitcoin on their balance sheets, to pension funds holding stakes in companies like Tesla and Coinbase. Banning bitcoin is the collapse the economy.

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