You're right they will come out with their own currencies, they could also declare coins illegal but name 1 thing that was made illegal that went to zero, do your really think cocaine fetches the price it does now if its legal? hell no!

In fact making it illegal puts a premium on the price, and on top of that EVERY country has to make it illegal which is highly unlikely. The moment they do that capital flys out of their country faster than before, if it happened here for example, I'd swap my currency for a currency that is crypto-friendly and then buy the crypto.

Pension funds and companies already hold crypto assets as collateral, US banks can custody it, so to make it illegal means to obliterate those companies and banks, and peoples private pensions too, which is not impossible but you'd also set off a world war 3 situation.

Again, anything can happen but really I don't see BTC failing, even if does you can still earn cash through your labour, if that is even worth anything the way its going, so I don't see it as a loss.

The perceived risk is worth it for me

As for investing 10 or 20k you can say that for just about anything people invest 10 or 20k in a car that depreciates the moment they take it off the lot and they "rationalise" that purchase too even though its a shit one

I say let people do with their money as they please if they win or lose, that's how they learn

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