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> Anyone who predicts Bitcoin's demise must explain precisely how and why its network would stop functioning. No, they don’t. There are a variety of scenarios
by marcusb 3y ago
> Anyone who predicts Bitcoin's demise must explain precisely how and why its network would stop functioning.
No, they don’t. There are a variety of scenarios that do not require the government to eliminate the ecosystem.
For starters, they could make if very, very difficult to use for large capital purchases (houses, cars, etc.)
They could impose fines on businesses for accepting crypto — or specific types of crypto — as payment for goods and services.
Can they completely eliminate your ability to trade a bitcoin with your friend? No, of course not, any more than the federal government retrieved every ounce of gold back when that was illegal. But they can make it so painful to use that most people simply won’t.