Could The US Ban ₿itcoin? How would the Government accomplish this? Is it even possible? 🤔
All ₿itcoiners have heard this from the normie Boomer crowd who doesn't understand how ₿itcoin works, "The government is going to ban it and/or take all your ₿itcoin like they did Gold in 1933!"
But there are HUGE differences between Gold and ₿itcoin when it comes to Government theft, and the motive to do this is not comparable.
There are only 21 Million ₿itcoins that will ever be (approx. 19.3 Million have been mined thus far), and approx. 5 - 6 Million have been lost forever (making Bitcoin the rarest asset known to man).
You could easily claim you lost your ₿itcoin in a boating accident and there would be no way to prove you were lying. If a ban theoretically was on the horizon I would expect many would either send it to Layer 2 Lightning Wallets so it would disappear from the Layer 1 Public Blockchain. Or simply swap it for something like Monero then do an Atomic Swap back to ₿itcoin and put that non KYC ₿itcoin into a new wallet.
To take someone's ₿itcoin, Government would have to obtain their private keys. That is possible if they stupidly kept it on an Exchange, by going after the Exchange. But if someone has a Hardware or Brain Wallet, it would be impossible to confiscate their ₿itcoin. Guessing or Hacking those private keys is not possible, there are more possible key combinations than there are atoms in the known universe.
But for the sake of shits and giggles, let's explore this possibility...
Original Video by Anthony Pompliano: https://www.youtube.com/watch?v=SCMgz5jf3cY
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