Can Governments Ban Bitcoin?
We must iron out kinks for clarity and to prevent any form of FUD.
First, the basics.
Bitcoin is a network powered by nodes distributed across the world. Each of these nodes is a server that keeps a copy of the network.
This duplicity and mandatory synchronous operations mean it is incredibly hard for users—or agents—to spend the same coin twice—that is, double spend.
Beyond protective steps, the distribution and serverless nature of the Bitcoin network make it resilient and censorship-resistant.
By censorship-resistance, we mean there is no way individuals or governments can censor transactions. Censoring is akin to banning.
It is this feature that makes Bitcoin sought after and valuable.
Technically, a government can't ban a BTC transaction because they have no power to pick out and muzzle individual nodes distributed across the globe.
The best they can powerlessly mark out a BTC address and request for decryption from third-party experts like Chainalysis. However, a user can generate as many unique addresses as they can.
In fact, for security purposes, users are required to use a unique address for every transaction, making it incredibly hard for agents to crack the user's identity in a KYC-free environment.
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