Is Bitcoin a scam run by the energy utility monopolies? 1% of the world's power is used just to mine Bitcoins. Trump says it's a scam. Elon has condemned the waste. If Bitcoin crashes to $0, the only ones who come out ahead (besides lucky traders) are the energy companies.
(www.thebalance.com)
Speculation
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Why do you think they can't defeat it?
Can't each country just ban its use among their citizens and/or territories?
Nope. It’s decentralized and operates outside of their control mechanism.
Hell you can do transactions via ham radio if you really wanted to, alittle complicated but you can do it
If govts decide to crack down, won't most opportunities to use it evaporate?
Won't the govts be able to read teh blockchain and watch it get built and be able to decode who is spending what?
I don't get how a currency tech which is supposed to provide an indelible record of every transaction involved can manage to maintain user anonymity simultaneously.
You can't pass a law to un-invent shit. Guns are easily available everywhere, despite gun control laws. Child porn is the same way.
A crackdown would limit crypto, and people would use it with private keys on their phone.