Has anyone thought through a "war on crypto" type scenario similar to "war on drugs"? It feels like a high probability political shift...
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Iirc it ramped up very rapidly after Nixon. First heroin/weed, then cocaine, then meth, then opiods... a sort of one-size-fits all anti-narco state (funny since the 10th century had narco states). I can see crypto going the same way with one asset after the other being targeted
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The gravity defying upward trend of crytpo as an asset class is only about a decade old. Going by drugs and other similar examples, I think it takes about 2-3 decades for a "war" of reaction to kick in
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Make ownership of it "treason" punishable by death and see how well "decentralization" holds up the price
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personally, I think crypto is too interesting / powerful for citizen / tax tracking to truly vilify.
if they're serious about this thing where all US bank accounts above $600 are going to be snooped on, they'd _love_ a financial system where the entire chain is visible
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Cryptography or crypto currency?
I think the government would win the war on cryptocurrency pretty quickly if it wanted to. The community is totally obsessed with how much coins are worth. Gov only needs to demonstrate they're worth nothing, and bubble would collapse.
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