Comment by immibis

Circumventing regulations is like half the point of crypto... either you use it to circumvent regulators, or you hold it while the price goes up because of the people who are circumventing regulators.

I think Bitcoin has become a typical fiat asset ouroboros now, because the people who actually want to circumvent regulators are using Monero (which is why Monero is banned in most countries), while the Bitcoin price is supported almost entirely by speculation and a little bit by people doing only-slightly-shady things with crypto who haven't noticed everyone else moved to Monero.