Sure, they can prosecute everyone holding Bitcoin. It would be as effective as the war on drugs. They can shut down the exchanges, block ISP traffic but only i

Sure, they can prosecute everyone holding Bitcoin. It would be as effective as the war on drugs. They can shut down the exchanges, block ISP traffic but only in their jurisdiction. They cant't stop Bitcoin mining in every other country. They can't stop people from Africa doing business with Bitcoin. Or people in Venezuela where you see an real use case for this technology. The network will continue to grow without US if they choose that path. Or US Goverment realizes that Bitcoin might be the tool they need to revitalise the economy, and to avoid loosing influence and allowing China to continue growing stronger.