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Comment by djohnston | Hacker News Reader

They would ban exchanges from operating within the US, which would render Bitcoin useless for 99.99% of US users. I don't think they'll do this either, but they don't have to do anything fancy to make Bitcoin worthless for the average citizen.

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While being able to use exchanges in the US is helpful, it isn't necessary. It might curb short term adoption, but it doesn't stop the inevitable, which is crypto completely taking over the world.

It's in the US's best interest to embrace it.

Edit: the best downvotes are from people that missed out on the technological innovation of a lifetime.

I understand it isn't technically necessary but it really is if you're trying to include non-technical retail investors in the market.

Peer-to-peer exchange works perfectly fine. It is funny how it used to be the most common way to exchange crypto, but now people think you need these dangerous and inefficient centralised exchanges just because they became popular.

Do you have a logical use case scenario for p2p/otc if the gov bans exchanges? If there truly can be decentralized liquidity in one of these decentralized exchanges... then it’s def gonna stay alive

> If there truly can be decentralized liquidity in one of these decentralized exchanges... then it’s def gonna stay alive

Then it's going to stay alive. Look at Uniswap, Sushiswap, 1inch.

I've used them. They work completely decentralized though?

Darknet markets

I don't disagree, I just think that your average retail investor will never touch a P2P exchange, just like your average retail investor will never own a crypto wallet outside of coinbase.

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