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RE: Bitcoin Bounces Hard But Cryptocarnage Remains

in #bitcoin7 years ago

Even trading in the 7k range (or 6k or 5k) ... with mining costs still over 2k average, there is still a LOT to be made by the miners.

While the press seems more than willing to publish exaggerated stories of this country or that country banning Bitcoins, the fact remains that there is no way to actually ban them other than regulating 3rd party exchanges.

Just shutting down the exchanges is enough to drive cryptos into a microscopic darkweb niche. You can't completely "ban" them any more than you can completely ban pot, but gov'ts can easily shrink them into irrelevance anytime they want.

This was always the huge weakness in the "cryptos will overthrow fiat and bring indebted govt's to their knees" argument.