It is, unfortunately, impossible to ban. Both due to bypassing network blocks being trivial and exchangers existing across a wide range of jurisdictions. Assuming even for a moment you could wipe out all exchangers, there are countless peer to peer exchange services, some of them not on the clearnet.
Best attempt would be to try and ban it in as many places as possible, hoping mining interest decreases, leaving the network open to an attack by a core of leftover miners, destroying its credibility. But that's extremely unlikely.
Banning exchanges that convert fiat to Bitcoin and back would itself be a damn near killing blow, the price would drop massively overnight and with that miner interest.
It would still keep existing probably for drugs and such but it would never be as big again save for a massive collapse of a major fiat currency like the USD.
Because they don't want their own financial systems destabilized by magic internet money I suppose. Not saying it would happen for certain but if the governments of the world decided to get rid of Bitcoin they could do so easily.
It is, unfortunately, impossible to ban. Both due to bypassing network blocks being trivial and exchangers existing across a wide range of jurisdictions. Assuming even for a moment you could wipe out all exchangers, there are countless peer to peer exchange services, some of them not on the clearnet.
Best attempt would be to try and ban it in as many places as possible, hoping mining interest decreases, leaving the network open to an attack by a core of leftover miners, destroying its credibility. But that's extremely unlikely.
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Banning exchanges that convert fiat to Bitcoin and back would itself be a damn near killing blow, the price would drop massively overnight and with that miner interest.
It would still keep existing probably for drugs and such but it would never be as big again save for a massive collapse of a major fiat currency like the USD.
Say the US bans them; why would Russia or China, for example, follow suit ?
Because they don't want their own financial systems destabilized by magic internet money I suppose. Not saying it would happen for certain but if the governments of the world decided to get rid of Bitcoin they could do so easily.