Great post @zer0hedge.
Regulators cannot ban cryptocurrency. It's like putting a 1 panel fence in the middle of the street: people will simply find a way around this fence just like they will find a way around this "ban". This leads me to question the loyalty of these governments. Do they operate in their own interest, or do they operate in the interest of the people?
Let's look at the news. We've seen issues in South Korea, Japan, India, USA, and other countries. The media has been spreading misinformation for weeks on end. Don't believe me? Look at CNBC. They're literally promoting garbage. They bring on people who have absolutely no idea about cryptocurrency. Because of this, it's contributing to the growing amount of people in this space who think they know something but don't know anything. In order to fully understand this space, you need a tech background and a Finance background.
The Finance background helps you speculate on valuation and economics/tokenomics. The technology helps you understand the why and how.
When the internet was in its infancy, people had similar arguments about it[the internet] when compared to bitcoin and some cryptocurrencies.
- Scalability
- Speed
- Not easy to use
- Energy
- Why would anyone use this?
- This was solved by better routing, ipv4, ipv6, technology becoming cheaper, etc.
- This was solved by DSL, satellite, broadband, LTC, 4G, etc.
- DNS and similar protocols were implemented which made the internet easy to use.
- Efficient technology arguably reduced the energy burden to a degree.
- As the technology matured and improved this opened up an entirely new class of business use cases which demonetized numerous industries and revolutionized others.
We're going to be fine.
I agree with this completely. This is something that I laugh at each time I hear it. How can they? Sure they can try to do it in their country, and in the more tyrannical nations, it might work. But in most other countries, unless all decide to do it, people will have access to them as long as they have access to the internet.
With decentralized exchanges starting to come online, it is going to make it impossible to be able to stop.