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Comment by game_the0ry | Hacker News Reader

> "We should shut down the cryptocurrencies."

You can't "shutdown" crypto currencies. Technically not possible. Anyone who believes otherwise does not understand crypto currencies.

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Eh, if you made it illegal for banks to transact with crypto exchanges, you could make it a lot less useful.

Or even just apply the regulations transitively to banks, exchanges, and money transmitters (i.e. they can only transact with their crypto equivalents that follow the same regulations).

Operative word being if.

Maybe not technically but if the US or EU would ban any business activities related to crypto currencies, the entire ecosystem would collapse. Even if they continue to exist for black market purposes, their real-world usefulness would decline substantially.

> Maybe not technically but if the US or EU would ban any business activities related to crypto currencies, the entire ecosystem would collapse.

You won't be able to track people who have and use crypto if the people who use it do it correctly.

> Even if they continue to exist for black market purposes, their real-world usefulness would decline substantially.

I'll agree with you there, but I do not believe most governments will legislate a full ban.

Good luck when USG helicopter raids you.

If done correctly, the government won't be able to link your identity with your crypto.

So who is that USG helicopter raiding if they do not know who has the crypto?

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