I had this conversation with my neighbor this morning, her son just got a big time job with Coinbase which is a big Crypto Currency company based in SFO...
She disagreed when I said, it was great that her son got the big time job, but at some point governments around the world will ban crypto currencies....
Every country has a central bank and then there is a central bank of central banks in the Bank of International Settlements (BIS)....
The US Federal Reserve and other Central Banks will eventually move to ban Crypto currencies when they gain to much independence and start to really damage national currencies....
There is no way China will allow Bitcoin or any other crypto currency to interfere with their economy or damage the Yuan..
Same in the USA if the dollar begins to really suffer because of Crypto Currencies, the Federal Reserve will crush it....
The question is how they will crush it and how long will it take...
IMO, crushing crypto currency would not be difficult, just ban it’s conversion into dollars or refuse to take it as legal tender in any business based in the USA....
Remember in the early 70s Richard Nixon banned the redemption of US dollars for gold and the same thing could happen with crypto currencies, especially if the Federal Reserve and other central banks release their own digital currency...
How are they going to ban it? It is international and a independent network.
You would have to shut down the internet.
It would be like banning the $100 bill.
It’s impossible to ban BTC.