In this video, I discuss whether the U.S. government (or any government) can shut down Bitcoin. While theoretically possible, it seems unlikely for the following reasons:

1. The Bitcoin network is worldwide and completely decentralized.
2. Close international cooperation would be needed to shut down Bitcoin. Current trends point away from global cooperation and towards nationalism.
3. Many other countries resent the U.S. and the U.S. Dollar, and so are not incentivized to help protect the U.S. Dollar as world reserve currency.
4. The U.S. government was never able to shut down gold or marijuana.
5. Any country that bans Bitcoin puts itself at a technological disadvantage to those countries that allow it. Banning the internet in your country only hurts you and helps your competitors.
6. It seems more likely that Bitcoin remains legal in the U.S. and is just taxed instead (similar to the path of marijuana legalization).
7. Wealthy Bitcoiners will push for more Bitcoin-friendly U.S. laws.
8. It is quite likely that some politicians, central bankers, and even some central banks already own Bitcoin, and hence would be loathe to work against their own self-interest by banning Bitcoin.

Not investment advice! Consult a financial adviser.

The U.S. government considered shutting down Bitcoin in 2012:
https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#726a93a71966

Map of the global Bitcoin network:
https://bitnodes.io/

FDR bans gold in the U.S.:
https://en.wikipedia.org/wiki/Executive_Order_6102

List of Bitcoin-friendly countries:
https://99bitcoins.com/bitcoin-friendly-countries/

Buying up the whole supply of tradable Bitcoin:
https://twitter.com/BitcoinTina/status/1249325772759842816

Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join

Use this secret coupon code to get a discount: YT99

#Bitcoin
#BitcoinAnalysis


Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisers, registered investment advisers, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.