28 Jan '13, 2pm

Government Ban On Bitcoin Would Fail Miserably

Government Ban On Bitcoin Would Fail Miserably

I maintain that a government ban on bitcoin would be about as effective as alcohol prohibition was in the 1920s. Government prohibition doesn’t even do a good job of keeping drugs out of prisons. The demand for an item, in this case digital cash with user-defined levels of privacy, does not simply evaporate in the face of a jurisdictional ban. One could even make the case that it becomes stronger because an official recognition that Bitcoin is not only a “renegade” currency but a “so-effective-it-had-to-be-banned” currency would imbue the cryptographic money with larger than life qualities.

Full article: http://www.forbes.com/sites/jonmatonis/2013/01/28/governm...

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Government Ban On Bitcoin Would Fail Miserably

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