No conflating of Bitcoin and Crypto. They are two seperate things. Please think and answer the question.
Penny stocks still exist.
State run lotteries still exist. Casinos still exist.
Some people are just degen gamblers. Can't change that.
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I don't think it will ever be eliminated, lots of out-dated technology still exists in novelty form.
A natural mass exodus away from crypto and into bitcoin might effectively eliminate the "crypto market".
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Penny stocks still exist.
State run lotteries still exist. Casinos still exist.
Some people are just degen gamblers. Can't change that.
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Bitcoin's halvening events would need to stop having price impacts which would drive away hype and speculation that gets people interested in non productive projects in the first place. Then Bitcoin would need to grow naturally without hype and speculation as well such as Galoy and Bitcoin beach have done.
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TL/DR - Good luck shutting BTC down. Even if all governments colluded - it would run as a "blackchain" and woulds till persist. Some other PoW networks might be the same - Monero, HNS, etc. With crypto generally, although there are many really interesting innovations, the nature of these systems is fundamentally different. Particularly PoS systems where there are huge challenges with the infrastructure that supports these networks.
For BTC - the cat is out of the bag. While it is true that "any thing is possible" unless the global internet was shut down, BTC is going to be hard to stop. Additionally, even if the global internet were to shutdown, when it came back online the ledger would then start running again. To make the point with a silly example - BTC runs on satellites that serve as nodes - if the world were to explode and the satellites were to continue to orbit and a space ship showed up in a million years and connected to the satellite - the record of transactions would still be there and the chain could theoretically be restarted.
Crypto generally comes with much different considerations. Let's be honest - most of these networks use environments like AWS (or something similar).... this is a huge problem. We could imagine, although perhaps not likely, a regulatory environment whereas relationships with infrastructure like AWS could be throttled.
Also - one other note - when BTC was introduced the market determined that it should exist. People just started using it and the network grew.
Any other network launched with informed stakeholders and market interest that was generated from BTC. That is not to say that these projects have no merit, maybe they do (i.e. smart contracts were certainly an interesting innovation) but those innovations were launched with context. BTC has just been crazy persistent throughout.