In the future I expect all PoW cryptocurrencies to be banned, or severely hobbled, because of their electricity usage and e-waste. I have a long bet on ETH specifically because of its eventual move to PoS. Bitcoin doesn't even have a plan, and when the legal landscape changes it will be in the worst position to pivot.
We'll just have to see what the future holds. But I got my money down.
Even if it is, they would need to break my fingers to prevent me running a Bitcoin node. And I will get the blocks via Satellite. If there was a credible threat, we would go somewhere it is not.
If your economic thesis is based on hoping the government bans something, why are you even playing with state-resistant decentralized monetary systems?
Why can't it be banned? It's wasteful and closer to a Ponzi scheme than an actual currency.
> Even if it is, they would need to break my fingers to prevent me running a Bitcoin node. And I will get the blocks via Satellite. If there was a credible threat, we would go somewhere it is not.
That could be hard if many of the worthwhile places ban it :-)
> If your economic thesis is based on hoping the government bans something, why are you even playing with state-resistant decentralized monetary systems?
Most people in crypto are in it for the money, not for idealism.
What does Ban even mean? That it is illegal to run in places like the US? Very unlikely, and as more institutional money flows into it, it grows more unlikely. Some places are starting to put 401k/pension funds into it. Some places are raising it as legal tender. There is also that 1st amendment thing.
So will it banned like drinking straws? (which are still available) Or banned like drugs? (which are still available).
I feel you WANT it to be banned because it tickles your authoritarian tendencies. I am glad we live in a world, at least today, where your wishes are ignored.
https://www.eff.org/deeplinks/2015/04/remembering-case-estab...
There is an argument to be made that running software that speaks a protocol is an extension of speech.
The mental position that wants to ban cryptocurrency is the same one that that wanted to ban/suppress cryptography in the 90s.
Because I want to make money? I don't see why that matters.
If you still want to use it then, enjoy.
Ethereum shall also lower the block reward, lower the fees, and make more people hold on to their ETH to get the staking reward.
Why would the price tank? Also ETH is already at 1/2th the "market cap" of Bitcoin, so a takeover is definitely not unthinkable.