Twitter user Moon Capital has suggested in a series of tweets that states cannot impose a ban on Bitcoin. It was said that governments’ efforts to ban Bitcoin would be like staggering in the 100-meter race against Usain Bolt.
Bitcoin supporter Moon Capital made a series of statements on Twitter against allegations that “states can ban Bitcoin”. Suggesting that this claim is highly exaggerated, Moon Capital explained why he thinks this is not a reasonable idea.
Moon Capital, starting with the fact that those who present this argument in their words accepted Bitcoin as the most important monetary value in the world, said that these people understood that Bitcoin could become incredibly valuable and threaten even governments.
With the gold bans in 1933, today’s conditions are not the same
Moon Capital stated that, in general, the basis of the claim that many states could impose a ban was demonstrated by the private gold ownership ban in the USA in 1933. According to Moon Capital, people who cite this event forget that the ban came because the US dollar could be exchanged for a fixed amount of gold. This was a move to stimulate the economy according to the conditions of that period.
Moon Capital says that today the Fed and the US government have a currency that has not been pegged to BTC or gold to stimulate the economy and can print it for incentives whenever they want. In other words, they do not have to ban Bitcoin to prevent the dollar from fluctuating, as in 1933.
Banning Bitcoin won’t kill it
Moon Capital continues his statements, underlining that Bitcoin is a decentralized and global network; He underlined that a possible ban cannot kill Bitcoin. Moon Capital said that in order for Bitcoin to be completely finished, every Bitcoin in existence must be physically found and these computers must be destroyed. How can governments succeed in banning an intangible asset like BTC while failing to bans on drugs, weapons or alcohol?
Moon Capital also included the tweet posted by Preston Pysh in his statements. According to the tweet, a country banning Bitcoin would be the equivalent of staggering at the start of a 100-meter race against Usain Bolt. Saying that the current situation is on the way to reconciliation rather than banning, Moon Capital emphasized that BTC support senators were selected as an example.