Excellent analogy. But not sure if you noticed – Napster is no longer in business and the way it was killed was not by taking it down but by literally dragging large uploaders of music to court and fining them enormous sums. I alone know 3 people who owed over 15k each.
Note that I am not alleging that crypto takes this route but the point is – if one thinks just because decentralized exchanges and bitcoin trading cannot be stopped by a regulator that does not mean it won’t stop being traded if governments were to fine the people trading on them or even putting some in jail. That will be enough to deter. Again note I do not think it gets this far, but just because crypto can always be traded does not mean it successfully conquers the mass market if it goes directly against regulations. Law abiding citizens will stop trading it… that is the majority. Also it s not that hard to follow most people’s money from an exchange onwards in crypto (for most larger exchanges), so it is not like the masses will be anonymous. The few ‘in the know’ yes, but for people with physical addresses and tax records it will be hard to hide. And rightly so by the way. But we can disagree.
Thanks for your opinion!