RATE Group | Bitcoin, Like Global Warming, is a Faith-Based Religion
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Bitcoin, Like Global Warming, is a Faith-Based Religion

02 Jan Bitcoin, Like Global Warming, is a Faith-Based Religion

Posted at 22:22h in Bitcoin News by

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China Crackdown

In Bitcoin Sinks Below $7000 on China Crackdown I posed this issue.

If and when central banks crack down on digital currencies it will be lights out. People keep asking me what can central banks do. The question should not come up as the answer is obvious: ban transactions in Bitcoin.

If the US banned bitcoin transactions, people would still have their digital coins, but they would effectively be worthless. One could not buy anything with bitcoin other than barter transactions. There would be no way to get money in or out, at least in the US.

To that I have countless replies along the lines that Bitcoin is decentralized so my idea is preposterous.

If governments ban transactions in Bitcoin does one get money in or take it out? OK you still have your Bitcoins, but what the hell can you do with them?

No one has answered my questions. They just tell me it can never happen.

I have been asking simple questions for years. None off the bitcoin true believers has…

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