recently pardoned #Binance CEO changpeng zhao (and now Trump family business partner, sort of) is thrilled that Vladimir Putin is now a committed bitcoin bro
https://x.com/cz_binance/status/1998368629847724072
#changpengZhao #CZ #crypto #cryptocurrency #VladimirPutin #russia #ukrainewar #bitcoin #uspol #eupol #ukpol #trump #ukraine #WLFI #USD1
By the way, it is pretty easy to ban Bitcoin. Just ban the conversion into fiat money. The value will be zero by definition.
And all transactions are transparent. You can easily follow the tokens, if you want.
Apart from that, the packets of the Bitcoin network can be filtered and discarded by the major ISPs.
It may sustain as an isolated island for the criminals to exchange money between each other. But nobody outside will care.
Or add a lot of supercomputers to overtake the Bitcoin network for a couple of blocks and break the chain of trust. Manipulate the other nodes before, so needed calculating power will be lower.
> "Just ban the conversion into fiat money. The value will be zero by definition."
eh, mafia networks in each country will continue to trade bitcoin for cash if that happens (kind of like they already do with Monero / XMR, which is pretty close to banned in most civilized countries).
> "And all transactions are transparent. You can easily follow the tokens,"
it's not that easy tbh, but anyways most criminals don't use bitcoin any more they use privacy coins like Monero or unmonitored chains like polygon/Tron/TON (telegram chain) etc.
> "Apart from that, the packets of the Bitcoin network can be filtered and discarded by the major ISPs."
yes, and maybe more importantly Texas based bitcoin miners can be forced to censor transactions from bad actors and in so doing "fork the chain" into compliant / noncompliant versions.
Was going to post something similar.
Banning fiat conversion wouldn't make any difference without also banning conversion to other cryptos, and since btc can be readily traded for goods anyway, conversion isn't necessary.
Similarly, transparent transactions don't really matter unless a wallet can be linked to a person.
It was pretty easy to trade btc for goods the last time I bothered to look.....maybe not at your local supermarket admittedly.
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Michael Westergaard