What the world would be like if Bitcoin were banned

Today, not only have cryptocurrencies become one of the most discussed topics on the planet, but they have also come under the radar of government financial institutions around the world. No one else intends to look past the two trillion dollars rotating on the Internet. China has decided to fight back hard against cryptocurrencies, but not because they dislike Bitcoin so much. Rather, the reason is the desire to bring the digital yuan to the market, which will be a powerful driver for the economy. Other countries are assessing the risks and waiting for the U.S. to give the go-ahead. It would be strange if Australia or Canada declared war on cryptocurrencies, while America follows the path of liberalization. There is no doubt that this will not happen, because U.S. lawmakers are preparing a number of measures to bring cryptocurrencies out of the shadows. Not only miners, but also traders and holders of any altcoins will have to pay taxes. They will start to monitor the situation more closely, and exchanges will disclose their database, allowing the tax authorities to study the savings of Americans (in general, all those who keep their money there).

RBC experts presented that cryptocurrencies will be tightened, analyzing a possible scenario when Bitcoin will be put under the most powerful pressure. What would happen if digital gold depreciates to zero? First of all, experts believe that this will not happen. There is a possibility that hackers will be able to crash cryptocurrencies after they get their hands on a quantum computer, but so far there are only a few copies of such machines in the world, and they themselves don't know how to crash anything yet. But, let's fantasize what consequences await the world after the collapse of Bitcoin.


According to Nikita Zuborev, a senior analyst at Bestchange.ru, the fall in Bitcoin's value should be triggered by a variety of factors, from the loss of interest from investors to the activity of ordinary cryptocurrency holders. If that happens, the first to feel the effects will be the exchanges. All of them are highly likely to go bankrupt, pulling in hundreds of billions of dollars worth of irrecoverable assets. Most of those dollars belong to ordinary people, as big institutions are in no hurry to invest in cryptocurrency. The only exceptions may be MicroStrategy and Tesla, but their losses will not be critical, and in the case of Ilon Musk, will not affect his company in any way. By the way, among the victims will undoubtedly be the companies engaged in the production of video cards. For them, stagnation can last for years, because tens of millions of gaming solutions from farms will flood the market. 

There are several more predictions like this in the source. Check them out if you are interested in a similar topic. To summarize: today, experts believe in Bitcoin's power so much that they are not even ready to seriously consider its demise. Whether cryptocurrencies will take their place, or will be displaced as harmful to national currencies, we have yet to find out. What is clear is that the free digital market, which is partly there even now, will soon be gone. Every coin will come under control, which means that for many cryptocurrencies will lose value, but all these scenarios are a distant prospect, because for now Bitcoin stands firmly on its feet.



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