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"No entity in the world can control the price of crypto." If it were banned in the US/EU the price would crash. Most major BTC backers have a lot of money and
by jariel 5y ago
"No entity in the world can control the price of crypto."
If it were banned in the US/EU the price would crash.
Most major BTC backers have a lot of money and they can't be involved in something that is illicit.
For regular citizens, it's just not worth the risk.
That leaves quite a lot of people to play with it, but not enough to maintain the price.
Without constant headlines, Tesla's involvement, Coinbase IPO headlines etc. the price would suffer quite a lot.
It would maintain some price but not so much that people would be buying energy sources.
- ArkanExplorer 5y agoTurkey - a minor economy - was able to crush the price of BTC by 15% with their recent ban. A large economy doing the same could have a major effect on price. Energy and hardware use is directly aligned with price. If there are any Governments out there who desire to fight climate change - and it seems like there are a reasonable amount - then illegalising proof-of-work coins seems like a reasonable step at least from an energy use perspective.