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> A bank run seems the most likely scenario Sure, there would be an initial bank runk, but a ban would also have unintended consequences such as making coins m
by bouncycastle 5y ago
> A bank run seems the most likely scenario
Sure, there would be an initial bank runk, but a ban would also have unintended consequences such as making coins more scarce, thus unintentionally driving speculative demand and cause people to turn to the black market, especially if there are bank runs on fiat itself (I know, extremist, but you never know - I've personally eyewitnessed a national currency imploding once).
> This might even be good for cryptocurrencies as a platform
I guess we have something we agree on. Also a ban would encourage more activism and push cryptocurrencies to their full potential (of side-stepping the bans by going to fully decentralized exchanges and peer-to-peer) and weed out a lot of the snake oil in the space.
Do I see a ban to be successful for what what it intends to do? Maybe temporarily, but in the long term it will fail and backfire.