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What are the chances more central banks ban Bitcoin for means of payment like Turkey?

I noticed this video this morning: “[Monetary Reset. At least 80 central banks around the world are looking at digital currencies.](https://twitter.com/GoldTelegraph_/status/1383514308508733447)” and I can only wonder when central bank digital currencies are streamlined… could they be outlawed if they eliminate cash? I understand the decentralized component and its impossible in that respect, but I do think central banks could make it difficult on every day citizens to potentially buy in the future?

I am not looking to be attacked here, I am generally curious and I want to learn how this is not possible.



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6 Comments

  1. The genie is out of the bottle. The toothpaste is out of the tube. People can exchange bitcoin. Trying to prohibit it will be about as successful as alcohol prohibition in the US.

  2. everywhere they ban bitcoin the price spikes in the local currency (nigeria, venezuela, india etc).

    don’t fret over fud like this, they will reverse their stance like everyone else does.

  3. Theoretically central bank controls every bank account, if u can’t transfer money you can’t buy crypto. If no bank account but u have crypto and it’s banned in the country seems to be a slight of a pickle. On top that government controls everyone’s credit history. It just might get ugly if gov start restricting our freedom further.

  4. I think the risk is different for each country.

    – all / most governments did not like BTC in its raw form, primarily due to money laundering and tax evasion concerns.

    – some governments work to bring BTC activities into the AML and tax reporting regime, and then let BTC be BTC. Australia is an example. Personally I think this approach is reasonable to “buy BTC a place in the mainstream financial system”.

    – some governments suck at managing monetary system and there is significant fiat devaluation. Instead of focusing on fixing the root cause, they try to introduce measures to curb people’s freedom of choice to use BTC as a safe haven from inflation. I suppose you need to work harder to access the BTC safe haven, or work on voting out the idiotic government, or just put up with whatever who you elected is doing to you.

    – for totalitarian governments, they don’t like the reduced ability for them to maintain control, so may attempt to introduce measures to curb BTC. But this loss of freedom would not be specific to BTC and I suppose you either flee from the country, or start a revolution.

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