Or simply make exchanging bitcoin for anything of value illegal. It makes extortion of all kinds too easy, and company data is just the tip of the iceberg.

I was in Italy recently, and saw articles about the epidemic of kidnappings there in the 70s. It won't be long before organised crime figures out how to use crypto to bring back the glory days.

Killing bitcoin would shut down an enormous illegal economy overnight. And stop the crazy electricity consumption at the same time. Maybe you can help me here, but I'm having difficulty thinking of a single real downside.