Why Bitcoin will not be outlawed and why government regulation of bitcoin as a payment mechanism is bullish for Bitcoin holders.

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Bitcoin has transitioned to from a 'proof of concept’ to a ‘financial asset’. It is no longer the anonymous dark-net currency that it once was.
One of bitcoin’s inherent characteristics is that it is censorship resistant. This means that it is technically impossible to ban bitcoin transactions or eliminate the Bitcoin network.
To enforce laws that prohibit participation in the Bitcoin network, local law enforcement would need to execute search warrants for every individual participant in the Bitcoin network - assuming they can be identified - to confiscate any relevant hardware and software
But its already too late to impose any type of ban on bitcoin. The genie is out of the bottle. In the words of @RaoulGMI “Bitcoin is infiltrating corporate America.” This is a signal that governments are starting to get more comfortable with bitcoin.
Today, bitcoin’s market value is approaching the size of the worlds biggest banks. With a current market value fluctuating around US$340 Billion, bitcoin does not pose any serious threat to governments.
In most countries - with the United States at the forefront - governments are choosing to regulate (instead of banning) cryptocurrencies. This is a good thing. Regulations ‘clean-up’ - perceptions of - cryptocurrency markets, protect investors, and deter nefarious actors.
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