Don't get me wrong, i'm not disagreeing, but there is something that worries me, and that is the muted reactions of the banksters. Bitcoin and the technology behind it are their biggest threat. They stand to loose their control and it seems they are doing nothing about it. Given the power they have, they could easily shutdown exchanges and make bitcoin value plummet. The fact that they are going along with it, seems weird to me and it raises a red flag. What's your thought on this?
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If peer-2-peer is stoppable, wouldn't the music industry have stopped it already?
Of course, exhanges could be attacked but based on what reasons? It would lead to lots of debate. And what is gained if cryptocurrency is pushed underground so that visibility is completely obscured?
I think the first genuine pushback will come if too many ICO's lead to too many scams. But regulating the Internet is difficult.
Reasons for shutting down bitcoin exchanges? How about saying that bitcoin is used for sponsoring terrorism? They can come up with an investigation after a major terror attack and say that it was funded with bitcoin and make it illegal. In the aftermath of a tragic event, people who are so easily manipulated, could see bitcoin as a bad thing.