My guess is if the government does ever start diddling around with btc its gonna result in a mass migration to a different cryptocurrency which will result in a massive decline in the value of btc.
I dont agree. If BTC will be banned, no need to migrate because any succesfull cryptocurrency will be banned later as well.
I never said btc will be flat out banned, but with the total value of btc exceeding a billion dollars congress is just drooling over all the ways they can tax it, but they are far too stupid to write any legislation that would cover all cryptocurrencies. Think about it, if they wanted (x) bill to apply to all non-government currencies wouldn't it also apply to gift cards, and every other form of credit/currency not directly monetized by the government. Corporate America will never let that happen, so they'll have to come straight for bitcoin. The internet has shaken up so many facets of life the government and corporate world once controlled (music, movies, buying and selling) partially because it evolves so quickly. Think about the moronic companies and governments trying so hard and throwing so much money at shutting down The Pirate Bay. Not only has The Pirate Bay been compacted into a form where everyone on earth with a flash drive can mirror it, its only one of thousands, if not tens of thousands of torrent websites. Even if they did manage to shut down The Pirate Bay by the time they did we'd all be on to the next torrent website, and the whole fight starts all over again. My guess is the same things going to happen to bitcoin. They'll get their greedy little fingers into it after a legal battle that takes them years to win and innumerable legal fees and by the time they get into a position they can tax and regulate it we'll all be talking about how litecoin, feathercoin, worldcoin or who they hell knows what is the next big thing.
