Banning Bitcoin? Governments can do it. Banning Bitcoin is a way to control crime and stop the black market. At least these are the excuses given. Our colleague Melwin Philip offers an analysis.

“Since China banned ICO’s and closed down some of its crypto currency exchanges, the question of “Ultimate Ban of Bitcoin” is there in the mind of most of the crypto investors. Can governments or international government organizations implement their own centralized crypto currencies and ban the mining or ownership of open decentralized ones like Bitcoin and Litecoin? Answer to this question is crystal clear and straight forward. Yes, they can. But the unanswered part of the banning Bitcoin question is, how effectively they can destroy Bitcoin.

Let us discuss about the methods possible for any government or international government organizations to act against Bitcoin. Below are the four possibilities I could imagine.

1. Direct Attack on Bitcoin by Laws

2. Direct Attack on Bitcoin Network

3. Virtual Attack on Bitcoin

4. Destabilize the Value of Bitcoin

1. Direct Attack on Bitcoin by Laws

This form of attack is the most feasible, time tested way to attack Bitcoin. Laws can be made by governments to either support Bitcoin or to destroy Bitcoin’s acceptance. Democratic governments like Australia, Switzerland etc have regulated Bitcoin, which helped more mainstream adoption of Bitcoin and other cryptocurrencies. But authoritarian governments …………READ MORE”

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