An assault on crypto wouldn't even need to be perfectly operational. A mere statement of intent that spooks investors and causes them to flee for the exits would likely prove highly-effective.
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Government intervention to deliberately crash the crypto market is probably much less far away than people imagine.https://twitter.com/arpitrage/status/1392475196431421443 …
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There's fast-growing criminal finance costs, fiscal costs, and environmental costs -- not to mention unique costs borne by the US to the dollar's "exorbitant privilege". The benefits of crypto are going to have to grow rapidly (and be diffused more broadly) to outweigh those.
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Yeah, the 0.3% of people who can't shut up about Crypto would be really mad.
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Seems to assume a government that is more competent and able to adjust to new challenges than we have.
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Even the most incompetent 18th C states placed a high priority on upholding their seignioragial privileges.
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"no bank can accept transfers from..." and boom dead
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These crypto currencies feel like a giant pyramid scheme. Unless/until they are used broadly for daily transactions, it’s for speculators and criminals. So yeah; anti social.
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Fingers crossed!
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