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A comment on U.S. Feds Seized Nearly $1B in Bitcoin from Wallet Linked to Silk Road. Parent comment

Re:U.S. Feds Seized Nearly $1B in Bitcoin from Wallet Linked... by gamblor956 on Thursday November 05, 2020 @07:46PM (#25003742)
True, but you can do that far easier with existing assets.

Authoritarian countries can always simply block their citizens' access to exchanges, and even just outlaw crypto ownership.

[ Parent | on HN ]
Re:U.S. Feds Seized Nearly $1B in Bitcoin from Wallet Linked... by doggosphere on Thursday November 05, 2020 @08:20PM (#25003920)
In a near future, we might not even need exchanges. Pay your rent with crypto. Buy groceries with it.

Even if its outlawed, that only slows it down at scale. People will still accept it if it has value. Drugs/prostitution/contraband can be traded even in the places where it is most strictly punished, outlawing it does nothing.

[ Parent | on HN ]