Can they Ban Bitcoin? This video will go in-depth and answer the who, the why, and how they can do it, and does it impact you as a crypto holder. Video by InvestAnswers.
The opinions expressed in the video are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide education about the financial industry.
0:00 Introduction - will Bitcoin Be Banned?
1:30 Game Theory - Prisoner's Dilemma (Rationality Fails)
2:45 India plans to introduce a law to ban Bitcoin and other cryptocurrencies. Their end game is to create their own official digital currency CBDC.
3:20 Russian Government banned officials from holding crypto.
3:30 Nigeria The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned. Note: Top Google search term in Nigeria.
4:10 Iran - The Central Bank of Iran officially banned the use of Crypto. It’s one of the actions Tehran is using to control the money market after the Rial tanks. Iran Adopted Bitcoin for International Trade Amid Sanctions, Falling Rial, Soaring Inflation.
4:44 China Ban? China, one of the world's most strict jurisdictions for cryptocurrency trading, has not completely banned Bitcoin, a local non-profit arbitration organization says. Jul 30, 2020
5:10 Kyrgyzstan Kyrgyzstan banned all cryptocurrencies as a payment method, including Bitcoin and Altcoins. However, there is no law that prohibits its residents from buying and selling Bitcoin.
5:30 Bolivia once again reaffirmed its reluctance to allow the use of cryptocurrencies in the country due to recent criminal practices carried out by some inhabitants. The Central Bank of Bolivia reminded the population that the use of virtual coins is prohibited.
5:50 Bangladesh Computer Crime Unit is investigating people who are involved in buying or selling Bitcoin or any of the other cryptocurrencies.
6:00 Ecuador The Ecuadorian government issued a ban on bitcoin and other digital currencies due to the establishment of a new state-run electronic money system.
6:17 Common Symptoms of countries that try to Ban Bitcoin
6:20 #1 Corruption Correlation
7:00 #2 Inflation Correlation
7:30 #3 Democracy:Autocracy Correlation
8:13 Why the Ban? #1 REASON: The perceived threat to current monetary systems.
8:30 Why the Ban? #2 REASON: They want to build their own CBDC (Central Bank Digital Currency) so they control wealth.
8:50 The Starfish and the Spider - Spiders command and control system! The starfish represents decentralized structures.
9:18 Node to Node
9:45 Drugs & Jails
10:00 US Will Not Ban It
10:50 Bitcoin Banned in UK? The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is banned in the UK by the financial regulator, the Financial Conduct Authority (FCA).
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