This has been tried multiple times by China. It has failed miserably every time. If even the CCP can't ban it (and make it stick) in China you know its simply beyond the power of any national government.
2. And who ultimately controls the supply of bitcoin so that it will expand in proportion to the need for currency for transactions?
Nobody ultimately controls it. There can only ever be 21 million bitcoins. That's it. That can never be changed. There will never be more. Contrary to an earlier claim in this thread, no, it cannot be "hacked". The Blockchain is an open ledger. Everybody can see it. This is also why the claim by some out of ignorance or downright lying that Bitcoin is preferred by criminals is simply wrong. Bitcoin is transparent, unlike cash. If you wanted to be untraceable, Bitcoin would be the last thing you would use.
1.Governments can indeed stop bitcoin by criminalizing or taxing its use.
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This has been tried multiple times by China. It has failed miserably every time. If even the CCP can’t ban it (and make it stick) in China you know its simply beyond the power of any national government.
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Sure, a small number of bitcoin transactions in China probably escape detection. But large scale commerce needs to be conducted openly. What do you think would happen to a business in China that openly operates by using bitcoin in defiance of Chinese law? And what if the EU banned bitcoin use?