Government Ban On Bitcoin Would Fail Miserably

themonetaryfuture.blogspot.com 03 Feb '13, 7am

Government Ban On Bitcoin Would Fail Miserably

http://www.forbes.com/sites/jonmatonis/2013/01/28/government-ban-on-bitcoin-would-fail-miserably/ In a blog post last week at Unqualified Reservations , the author described a fictitious account of how bitcoin dies because a "DOJ indictment is unsealed" naming any and all BTC exchange operators as criminal defendants and the "BTC/USD price falls to zero and remains there." While this U.S.-centric plot would seem more plausible in a cryptographic flaw scenario, it does bring to light some interesting game theory strategies for both regulators and free market monetary proponents. Aside from the impact on price, would a government ban on bitcoin, including a direct ban for law-abiding merchants, shrink the available size of the so-called bitcoin market? Is an officially "illegitimate" bitcoin a useless thing? I maintain that a government ban on bitcoin would be about as effec...

Full article: http://themonetaryfuture.blogspot.com/2013/02/government-...

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