Quote:
Originally Posted by BananaPancakes
You're right. The only way to truly stop cryptocurrencies is to globally ban it, which I don't see as possible as it would require every country in the world to be onboard.
Even if countries targeted exchanges that deal with fiat to crypto trades, people will find other ways to get it (travelling, international sites, sites like localbitcoin, etc.)
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This is what I dont understand about the recent sudden devaluation in response to proposed attempts at government regulation. The main reason why bitcoin has any inherent value is because of its imperviousness to regulation, so why is this commodity realistically under threat?
Either I am missing something (certainly possible), or the vast majority of investors don't understand the very commodity they are investing in. If its the latter, then everyone who believes in cryptocurrencies should be considering doubling down right now before the market comes back to its senses.