re: Why bitcoin is worse than a Madoff-style Ponzi scheme

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You think the govt can make certain words illegal, can regulate how much water you use to flush the toilet, but can’t make crypto illegal?

You severely underestimate the ability of govts to impose their will on you

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They can make life really hard for those wishing to exchange it for cash. They can make it less hard but still difficult for those wishing to exchange it for tangible goods. They cannot make it impossible because crypto rails cannot be shut down and you can send assets peer to peer. They would be reliant on fear and fear alone. Taking this thread of thought to an extreme: if it were ever the case that the USD underwent rapid devaluation people would almost assuredly shirk the risk and use it anyway because they want to buy things (e.g. people in Venezuela hoarding and using Runescape gold as currency because the bolivar endlessly tanks).

It's kind of a moot point anyway, crypto rails are being viewed as the next leg of innovation in the tech space and Web3 will soon be the next big tech buzzword that gets investors moving.