Economist Saifedean Ammous shares a surprising way governments could decrease the appeal of Bitcoin.
The Bitcoin Standard: The Decentralized Alternative to Central Bankinghe released around the topic of what it would take to kill Bitcoin, in particular from the perspective of a government attack.
Ammous went on to explain that governments that clamp down on the use of Bitcoin with strict regulations are likely to also already be restrictive in terms of what people are allowed to do with their own finances more generally. In Ammous’s view, a ban on Bitcoin would illustrate two things: Bitcoin must be useful if people are willing to risk jail time in order to use it and it makes it clear the government is restricting people’s financial freedoms.
“If your bank tells you, ‘You can’t buy bitcoin with your bank account.’ That’s really just an advertisement for Bitcoin,” said Ammous.According to Ammous, the most efficient way for governments to kill Bitcoin would be to compete with it.
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