I have a different more nuanced take on this. I've commented earlier, but I'll repeat myself here: ----- Currency is only as good as the government that medi

I have a different more nuanced take on this. I've commented earlier, but I'll repeat myself here: ----- Currency is only as good as the government that mediates its exchange. If mediating that exchange incurs costs, then the government will take steps to either stop mediating those exchanges (ex: China - where all crypto exchanges are illegal by default, so the legal system can no longer be used to offset the cost of those exchanges at cost to itself) or it will bring that currency under control so that it can make those costs predictable and acceptable (ex: The US - where crypto is getting "all the bad bits" added back through legislation) Which means the original intent of crypto only works in this honeymoon period (which I actually think ended not too long after the silk road went down) where it happens to get treated as an asset by a government that hasn't yet found out that they're essentially mediating exchanges in a foreign currency for free (not something most governments want to do).