Not just some of it, but all of it? Just curious what people think. I think it very well might happen with each domino that is falling. people just cant create money out of thin air with series of numbers. Am I alone in thinking the government will shut it all down for USA residents?
That's never going to happen so go ahead and let that theory go. The idea is over simplistic. Here's a question for you. Let's pretend the government banned all of crypto. So now what? Are they going to reimburse every person who owns shares in publicly traded crypto companies since all those companies would have to shut down? Are they going to pay all the employees of all those companies a severance since those employees no longer have jobs? Are they going to reimburse all the mining companies for the millions and millions they've spent on mining rigs and facilities? The list of questions could go on and on. But we all know the answer to the questions above so like I said, just go ahead and let that idea go.
There is no need to shut it down. It will all die by itself. When you can earn 5% risk free, few will want to gamble/speculate in crypto. Plus nearly all the Millennials who invested in Crypto have been badly burnt. Are bag holding large losses. Wished they never heard of it. Wont be buying more anytime soon, if anything will be looking to sell at break even, if they can get the chance, but will eventually sell for a loss when the recession comes and they need the cash..