To Ban Bitcoin, Governments Would Have to Ban All Forms of Communication

One of the main criticisms thrown bitcoin’s way on a regular basis is that governments will probably end up banning the digital money due to its use in illegal transactions. In fact, this is the argument JPMorgan Chase CEO Jamie Dimon recently made when ask about bitcoin at the Fortune Global Forum.

[Read More: Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin]

While governments could definitely attempt to ban the use of bitcoin within their borders (and some have), these sorts of bans may not be all that effective. That’s the position taken by Mycelium’s Dmitry “Rassah” Murashchik, who explained his stance on the issue during a panel discussion at the recent Bitcoin Investor Conference.

Bitcoin is a Language

At the core of Murashchik’s argument is the fact that Bitcoin is nothing more than a language. He expanded on this idea by pointing out examples of how anyone could still use Bitcoin in a situation where the technology had been banned by a local government:

“Bitcoin is just a list of accounts and their balances, and when you send Bitcoin transactions, effectively all you’re doing is sending a message that a computer can parse

Read more ... source: TheBitcoinNews