RT @parkeralewis: Gradually, Then Suddenly (#10): Bitcoin Cannot be Banned
Weekend reading, the idea that somehow bitcoin can be banned by governments is the final stage of grief, right before acceptance.
“It is Adam Smith’s invisible hand on steroids. Individual actors may believe themselves to be motivated by a greater cause, but in reality, the utility embedded in bitcoin creates a sufficiently powerful incentive structure to ensure its survival.” https://t.co/dzQEIKMo73
The world can't be dominated by any single entity or fall under just one jurisdiction, and bitcoin does not smell like drugs, it's not radioactive and cab't be burnt or destroyed, so long live bitcoin.
Everyone knows that bitcoin itself cannot be banned, so the article is presenting an obvious derp here. At issue is the question of how people can ensure that they will be able to access legitimate (generally meaning licensed and centralized) exchanges which have the most volume in the world, and also are convenient to them from the UI/UX and language/cultural perspective.
Not to get too far into the weeds here, but as I have pointed out elsewhere, potentially areas like India, Venezuela, California, New York, etc., (or anywhere else on the globe) could be served by centralized exchanges legally without a license and without any real conflict with country laws so long as there is some exchange system set up on or near the Moon to broadcast the exchange signal to the Earthly surface (by a satellite TV node / channel or similarly engaging method). (Since we are not yet on the Moon again, people have been relying on Earth's exchanges and licensing systems.) In fact, it would not have to be there forever, it would just need to have signals originating there for a while until enough of the world has the exchange software, kind of like how bitcoin software got around - the network effect. It would need to have propagated.
A brief mention of DEXs.
Most of the time, descriptions of DEXs lack definition. A DEX as many people claim it to be isn't really a DEX, since most DEXs simply are apparently decentralized exchanges that... actually aren't. They still require login, still have a company behind them, still collect client KYC info, on and on. You have seen them, many of them come and go. The good ones (like Bisq! which you could call a real DEX..) remain.
Ya, if you look at the direction they are positioning towards in most jurisdictions, its towards bans or other restrictions. Governments in their current form are simply not compatible with a decentralized, censorship-resistant store of value. They will (continue to) fight bitcoin.