Economist Saifedean Ammous was recently interviewed on Stephan Livera’s Podcast. Ammous explained the best way government can defeat Bitcoin and why banning it actually helps the opposite.
As per the original podcast, Ammous was asked to comment on his most recent research on the potential strategies that could be employed by governments to shut down Bitcoin.
Ammous stated that a government banning Bitcoin could actually be beneficial for the currency, stating:
If your bank tells you, ‘You can’t buy bitcoin with your bank account.’ That’s really just an advertisement for Bitcoin.
Government ‘ban’ good for Bitcoin
Ammous gave two reasons for why such a ban could help, and not terminate Bitcoin’s existence. The first reason the economist gave was the fact came down to the risk and reward factor of using the coin in the first place. If the coin were illegal to use, that would mean there would be a very high risk of using it, thus justifying the coin’s value.
The second reason Ammous gave was…