Then you're kinda missing the point of crypto. The question isn't whether they have the legislative power to destroy it (they don't give a shit about constitutional protections) it's whether they have the power to destroy it in practice.
They can significantly cripple it by shutting down US based exchanges and possibly other draconian measures, but they can't erase the blockchain and they can't shut down the network without completely shutting down the internet.
The gold order worked because gold possession was centralised and they could simply order the banks to hand over records of who did/had recently deposited there. That doesn't really apply to crypto.
:pepe_clap: SamhradhGoat :pepe_clap: /
npub1mr…n3xh4
2023-04-07 13:07:48
in reply to nevent1q…xpph
Author Public Key
npub1mr92cjapdpqkted8ppxwlnwlxg27t6eq2v564usutcw497q8plaqfn3xh4Published at
2023-04-07 13:07:48Event JSON
{
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"pubkey": "d8caac4ba1684165e5a7084cefcddf3215e5eb205329aaf21c5e1d52f8070ffa",
"created_at": 1680872868,
"kind": 1,
"tags": [
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"wss://relay.mostr.pub"
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[
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[
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],
[
"mostr",
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]
],
"content": "Then you're kinda missing the point of crypto. The question isn't whether they have the legislative power to destroy it (they don't give a shit about constitutional protections) it's whether they have the power to destroy it in practice.\n\nThey can significantly cripple it by shutting down US based exchanges and possibly other draconian measures, but they can't erase the blockchain and they can't shut down the network without completely shutting down the internet.\n\nThe gold order worked because gold possession was centralised and they could simply order the banks to hand over records of who did/had recently deposited there. That doesn't really apply to crypto.",
"sig": "bd30f7543d462ca8543a419fef9d16ad552ad924e8d43e24510c597cb1962260b4cc5410ba159de94a0e17b5d32ac601326d088582bd10ac8029f780e3e9bd09"
}