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> Secondly, unlike companies, cryptocurrencies can never* go bankrupt. They cannot be shut down by any single government. There will always be developers with m
by workthrowaway27 9y ago
> Secondly, unlike companies, cryptocurrencies can never* go bankrupt. They cannot be shut down by any single government. There will always be developers with machines somewhere willing to mine coins.
Here's one way cryptocurrencies could go bankrupt: The US government decides it doesn't like cryptocurrencies because of their use in money laundering and other illicit activities, so it puts severe restrictions on conversion between USD and BTC (or whatever other cryptocurrency) by going after the exchanges.
The value of a cryptocurrency is that you can convert it into a fiat currency, ie, one you can actually buy real things with. If that starts being restricted, then the value will plummet.