"Bitcoin proponents claim that it is harder to control or confiscate than physical gold, but this remains to be seen. Some have claimed that governments would need to suspend the internet in order to really ban bitcoin, but even that is perhaps not as inconceivable as it sounds. In 2019, during anti-government protests, the Iranian regime imposed a total shutdown of Internet for a whole week, forcing people to use the strictly government-controlled “National Information Network” instead. VPNs weren’t helpful here, but satellite filecasting technology could alleviate the situation for some. The episode costed at least $1 billion to the Iranian economy, but the Iranian regime, which had no qualms killing about 1500 people to stop the protests, considered this to be worth it.
To control the issuance of money is vital for dictatorships to survive, but it is equally vital for Western welfare states that have becoming ever more dependent on borrowing for their finances, and therefore on the ability of central banks to keep interest rate levels low, something that is no longer possible when money is not even controlled by the State anymore."
https://www.brusselsreport.eu/2021/04/13/the-fate-of-e-gold-as-a-warning-to-cryptocurrencies/
To control the issuance of money is vital for dictatorships to survive, but it is equally vital for Western welfare states that have becoming ever more dependent on borrowing for their finances, and therefore on the ability of central banks to keep interest rate levels low, something that is no longer possible when money is not even controlled by the State anymore."
https://www.brusselsreport.eu/2021/04/13/the-fate-of-e-gold-as-a-warning-to-cryptocurrencies/