The concept requires demand, which you already identified. The demand helps retains the exchange rate. You think the demand will evaporate if the cryptocurrenc

The concept requires demand, which you already identified. The demand helps retains the exchange rate. You think the demand will evaporate if the cryptocurrency is illegal or hard to obtain. I think this is not true. Compliant hashes will still be easy to generate, acquire, and transfer and some people that they are transferred to will append the hash to a globally stored ledger. These concepts are not bannable.