The problem is this news is grossly misleading because it is simply not possible to ban bitcoin, or any crypto currency for that matter.
Bitcoinβs price last year was hovering around $1,000 mark whereas right now, it is in the $9,000 range. This is in spite of the all the bans. This does not fit into any market logic. But that is the beauty of crypto currencies. They do not fit into traditional regulatory or banking framework. A different outlook is needed to understand how they work an ..
Decentralisation
This is because bitcoin and most crypto currencies that run on Blockchain technology are decentralised. It means they do not run on one server or URL or IP address. These virtual currencies run on multiple nodes that can be owned and run by anyone and are usually spread across the globe. There is no central point for the governments to attack or block.
This is very similar to Torrent protocol. It is peer-to-peer. At the simplest level, if I hold bit ..