https://news.bitcoin.com/illegal-own-gold-governments-ban/ They can just as easily close down coinbase, so most people would flee to USD.
Why would they care to do that? There are individual companies alone worth more than the entire market cap of BTC...
The gov didn’t ban gold lol— you need to review your history. Why would the government ban BTC and not the Euro or GBP lol? By your logic those would have been the first to go.
They declared owning gold to be prohibited, and demanded people who owned gold to hand it over to the government. That's the same as "banning" it in a sense, no?
I'm sure you are aware that this applied to redeemable gold, such as bullion or certificates held with banks. That's not a ban on gold. I assume you also know that the USD is not tied to BTC held by the Fed or Treasury lol.
Now for the real story... https://www.usmoneyreserve.com/blog/did-fdr-confiscate-americans-gold-in-1933/ "Two final points: Contrary to conventional wisdom, not all gold was subject to E.O. 6102. Gold coins with numismatic value were exempt, as was gold used in manufacturing, dentistry, and jewelry production. Moreover, each person in a household could retain up to five troy ounces of gold bullion coins. As far as I can determine, only one person was prosecuted under E.O. 6102, and he was acquitted. Most prosecutions were brought, not under FDR's Executive Order, but under the Act of Congress, the Gold Reserve Act of 1934. The constitutionality of 6102 and the Gold Reserve Act was ultimately upheld by the Supreme Court. Now, to the original question. Gold that was voluntarily surrendered to the government under E.O. 6102 and the Gold Reserve Act of 1934, and gold that was confiscated as a result of criminal prosecutions under federal law, was melted into bar form. Nearly all of that gold is now held in the vaults at Fort Knox." "However, there are a few cases in which gold was, in fact, confiscated (without compensation). As far as I've been able to determine, all of these confiscations came as a result of criminal prosecution of people who had violated federal law. There was no widespread prosecution of individuals who simply owned gold. The cases brought by the government were typically against gold traders, dealers, and companies that failed to surrender large quantities of gold. For example, the first case I found was brought against an individual who tried to withdraw from his bank 5,000 ounces of gold, worth $6.5 million at today's price. In the depths of the Great Depression, this was an enormous sum, even at 1933 prices. Since the withdrawal request had to be processed by his bank, and the bank was required by law to report such transactions, he was greeted at the bank by federal agents. Clearly, he hadn't thought it all the way through." Another example: The government confiscated double eagles worth $12.5 million ($812 million at today's price) that a Swiss company had placed in the hands of an American business for safekeeping. I assume they fired their attorney. There are other examples, but the point is that individual gold owners were not subject to search nor uncompensated seizure of their gold nor the vigorous enforcement of federal law. If your gold was confiscated, your violation of federal law was probably pretty flagrant and poorly executed and you probably held a lot of it. Still, even if you were not persecuted it was against the law to hold or trade gold. Even if you had it, who'd you sell it to? Black market?
You do understand that the Euro and the GBP are actually currency backed by central banks whereas BTC is not? https://en.wikipedia.org/wiki/Gold_Reserve_Act "The government" didn't but the U.S. government did.