Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Raoul Pal: Here’s What Will Happen if the US Tries to Ban Bitcoin

by Daily Hodl Staff
November 14, 2020
in Bitcoin, Regulators
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Raoul Pal, the co-founder of finance and business media platform Real Vision and outspoken Bitcoin bull, is offering his take on what would happen if the US tries to ban Bitcoin.

ADVERTISEMENT

In a new interview with Bankless, Pal says he believes such an attempt to ban Bitcoin would be futile.

While many use Franklin Delano Roosevelt’s (FDR) attempt to forbid the hoarding of gold coin, gold bullion, and gold certificates in 1933 as a precedent for the potential banning of Bitcoin, Pal notes that the effort completely backfired and resulted in people finding other ways to get gold.

“This FDR thing comes up a lot. It was only the US that tried to ban it and the gold price went up and it didn’t work. So everybody else used gold, so there is exactly the example I’m using: if you ban one group from using gold, guess what? Switzerland exploded because the US citizens and others used Switzerland.

That argument is always the wrong argument. Everyone says, ‘They’ll ban Bitcoin, look what they did then!’ Well, they didn’t on a global scale. Could the IMF try on a global scale? Sure, but maybe Russia will say, ‘Well, we’ll use Bitcoin.’”

ADVERTISEMENT

Not only will governments have a tough time banning Bitcoin, Pal says, but they will probably even be forced to start adding it to their own reserves as fiat currencies around the world continue to face devaluation.

“If you are Argentina and you’ve had endless currency devaluations, and you happen to go through an economic boom, well what happens if you started accumulating Bitcoin in your reserves? Does that make your currency more valuable? Does it make it harder? Yes, it does…

If you follow the argument of Bitcoin, it ends up with adoption by the central banks. It doesn’t get there quickly, but it happens and we will see some small nation state doing this I think within the next five years. And that will be the little flag planted to say ‘Okay, there is further change coming,’ because as you guys are rightly pointing out, this system of endless printing is unsustainable.” 

I


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Gonin/MicroOne

Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,565.00
$48,565.00
0.55%
Ethereum
$1,525.95
$1,525.95
0.52%
Binance Coin
$226.47
$226.47
1.65%
Polkadot
$33.55
$33.55
4.43%
Cardano
$1.16
$1.16
4.32%
XRP
$0.458458
$0.458458
1.06%
ADVERTISEMENT

Spotlight

  • Crypto Exchange Sells Thousands of Bitcoin for $6,000 Each Amid Surge in Market Volatility: Report
    February 26, 2021
  • These Are the Four Most Explosive Crypto Assets on the Market, According to Trader Ben Armstrong
    March 2, 2021
  • New Group of Crypto Assets Are Ready To Erupt, Says Trader Tyler Swope
    February 27, 2021
  • MoneyGram Facing Class-Action Lawsuit Over Relationship With Ripple and XRP
    March 3, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.