Sure, you can move it, but can you spend it on physical goods? Bitcoin becomes rather useless to me the moment I can't turn it into gold or US dollars in my bank account or spend it at Overstock. And the US government controls the systems that an exchange would have to use to turn sold crypto into funds in your bank account.
That completely defeats the safety and anonymity aspect. Also, once the government starts cracking down on it what makes you think the people who advertise they'll trade it in person aren't uncover Feds or banditos?
Why couldn't you exchange crypto for goods directly? You don't need an exchange for that. The whole point of crypto is peer-to-peer commerce with no centralized third party interlopers.
If you can't go to a grocery store, or a farmer's market, or to your local tech store, or so on to spend it, what are they spending it on?
You can't pay employees in crypto if it's made illegal to do so, so stores wouldn't actually accept it.
So now you're trying to say that, you'd be able to trade it to someone else, who would then have to find someone else who both has what he wants and is willing to take a currency that can't be spent in any stores, and so on.
Congratulations; you are describing a non-viable currency with less intrinsic value than fiat in this situation.
You can't pay employees in crypto if it's made illegal to do so, so stores wouldn't actually accept it.
Sure you can. What makes you think just because a failing government says businesses can't accept something as currency that means they are all going to obey? Crypto can't be censored, they can only control the onramps. Once people get comfortable enough with crypto that they know how to send and receive to each other there will be no need to ever go back to fiat.
If such a scenario came to pass would you accept an enforced central bank digital currency just so you can go to the grocery store? Or would you find ways around it where the government doesn't have complete control over your finances?
Not really. Not sure why you think you can exchange it for goods if they cracked down on exchanges. Automatically a major flaw.
Sure, you can move it, but can you spend it on physical goods? Bitcoin becomes rather useless to me the moment I can't turn it into gold or US dollars in my bank account or spend it at Overstock. And the US government controls the systems that an exchange would have to use to turn sold crypto into funds in your bank account.
Trade it in person, just like metal.
Its not metal vs crypto, its metal and crypto vs fiat
So... Who's going to buy it?
You sell it to a gold/silver broker, a pawn shop, someone else, etc.
They can still convert it elsewhere, exchange it if you will, for a currency that can be used to buy goods.
If exchanges are stamped out, who's going to buy it from you? Neither of you would be able to convert it.
It's like plugging your ears and go "lalala" because the concept is neat, so you won't hear any criticisms about it.
Is crypto tangible?
That completely defeats the safety and anonymity aspect. Also, once the government starts cracking down on it what makes you think the people who advertise they'll trade it in person aren't uncover Feds or banditos?
If it starts free falling it's probably taking every fiat currency with it and nobody will want any of it.
Why couldn't you exchange crypto for goods directly? You don't need an exchange for that. The whole point of crypto is peer-to-peer commerce with no centralized third party interlopers.
Because how do you have value to that?
If you can't go to a grocery store, or a farmer's market, or to your local tech store, or so on to spend it, what are they spending it on?
You can't pay employees in crypto if it's made illegal to do so, so stores wouldn't actually accept it.
So now you're trying to say that, you'd be able to trade it to someone else, who would then have to find someone else who both has what he wants and is willing to take a currency that can't be spent in any stores, and so on.
Congratulations; you are describing a non-viable currency with less intrinsic value than fiat in this situation.
Sure you can. What makes you think just because a failing government says businesses can't accept something as currency that means they are all going to obey? Crypto can't be censored, they can only control the onramps. Once people get comfortable enough with crypto that they know how to send and receive to each other there will be no need to ever go back to fiat.
If such a scenario came to pass would you accept an enforced central bank digital currency just so you can go to the grocery store? Or would you find ways around it where the government doesn't have complete control over your finances?