Even if cryptocurrencies weren’t a giant scam - and in fairness, at the beginning, they weren’t - did you really think the governments of the world would just idly let randos take control of money out of their hands?
I refer you to Amschel Rothschild’s famous quote:
Permit me to issue and control the money of a nation, and I care not who makes its laws!
I’m actually surprised that the authorities around the world have tolerated crypto for so long. It probably has something to do with corruption, and the fact that it’s really just a scam and not sustainable in the long run.
Bitcoin already has problems because it was designed in a time when people took Moore’s Law as inevitable fact.
I think crypto is probably here to stay but I’m certain that it won’t become a viable day to day currency without state action, and if they do crypto loses the majority of its point.
