As we arrive 2018 analysts say this is likely the year the bitcoin bubble will burst, reason being that if it continues to push up the ceilling above the 20k dollar mark governments might impose strict controls or even outright ban in order to protect government issued fiat currencies. My question to us all is: How would an eventual ban on bitcoin effect Altcoins and the global crypto market? Please be constructive in your views.BTC
There will likely be increasing government intervention and regulation for cryptos as we go on and market cap increases, but this will not harm the crypto market.
A government might issue an outright ban on bitcoin, but it will survive because it transcends national boundaries. Look back in time, and we used to have businesses confined to one nation, and subject to that nation's government - this time has long since gone, and we now have multinationals that can pick and choose which jurisdictions they operate in, with governments often fighting one another to offer the lowest regulation in order to draw business in. But we still have national currencies. The best real attempt at an international currency, the Euro, has been beset by difficulties. The need for a true, borderless worldwide currency is long overdue... and this is why crypto will survive and prosper, whatever individual governments throw at it.
And looking beyond bitcoin, what about coins such as XRP? Ripple have been working with banks and regulators for years - very difficult to see XRP getting banned. Similar for smart contract platforms; any nation that bans them will rapidly get left behind.
