> Remember prohibition?

Yes, but I thought the whole point of prohibition (unless you're living in that weird period between 18th amendment and 21st amendment) is that it was a terrible idea, never to be repeated again.

> The minute the fed considers Bitcoin and crypto to be a risk, they'll axe it. Coinbase or not.

This doesn't make sense, you presume that Fed has zero understanding of consequences of their actions.

Fed may consider something to be a risk and yet not act on it. Just because they haven't acted on it, doesn't mean they don't consider it to be a risk.

I am fairly sure there would be constitutional issues with banning it. After all its just some characters/a string. We went through a lot of this with the cryptography wars in the 90s

The law is not a computer system. Illegal numbers[0] are a thing.

[0] https://en.wikipedia.org/wiki/Illegal_number

Even if that were true, the government need only block the exchanges which are a financial service.

Bitcoin clearly qualifies as "interstate commerce".

Something something color of your bits. And even if you somehow managed to convince someone that a digital asset was speech you still have to contend that commercial speech isn't as protected.

I remember prohibition, do you? It enriched a number of people willing to break the law, only to be repealed in a short time, when it was found to entirely useless and simple to get around.

What are you going to do with your Bitcoin if it’s illegal?

Alcohol you can drink

Alcohol was only illegal in the US, unless there is a worldwide ban it will be fine. I have survived this long without ever setting foot in the USA, I reckon I can manage a bit longer.

Not 100% sure but tornado cash means that FBI can't really watch where the money flows (if the criminals are smart enough to use tornado cash)

Pretty sure prohibition wasn't executive action. But I could be getting my history on the 18th and 19th constitutional amendment wrong.