Banning Bitcoin Possible? Programmer explains.
Is it possible for a government to completely ban Bitcoin? This is an interesting and important topic. The answer is in understanding what Bitcoin really is. A protocol and a language! Enjoy guys!
More on this from Andreas <3
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It's not in the interest of countries to ban bitcoin anyway. They will realize this sooner or later
Interesting topic indeed
Thanks Ivan. Agree governments can make it difficult to use but it will be hard to ban. At this stage, it would not be beneficial from a global perspective. They would be operating in a silo and not competitive.
"Bitcoin is a protocol and a language."
Excellent explanation of how this works. Thanks Ivan.
I'm guessing that this is also true of all crytpo-currencies, including Delegated Proof Of Stake coins like STEEM and Bitshares.
its always great to here your views.
No it isn't possible because one governments bitcoin is another governments sabotage tool. Bitcoin transcends international borders so it operates outside the jurisdictions of governments. However we operate inside the jurisdiction of our own. So all they can do is go after the users of bitcoin and persecute them.
I found this entertaining conspiracy theory about LN being a bank controlled implementation of bitcoin. It preys on those who don't know how bitcoin addresses use the blockchain. I haven't looked at the LN code which appears to be open source, so I eventually expect this one to be put to rest...
If I was programming bitcoin LN nodes I would just set up a class with the records of all open channels and call it a THub object. This THub would have a dynamic array of all the open channels and the amounts. It would probably need a binary sort search procedure that orders the amounts of each of the channels from greatest to least, so that settlement chains could be found.
That video tries to say that bankers will control the hubs. Waiting for the dialog to popup on my screen asking for my social security number in order to process the transaction (lol)...
Two very intelligent speakers
I say government can ban bitcoin and they will do it. Here is how:
government asks everyone to "buy bitcoin". If everyone tries to "buy bitcoin" the blokchain can not handle everyone so there will be such a huge backlog and bitcoin will quickly be banned! problem solved.
here is a demonstration
or maybe not