If a tyrannical government put a gun to the head of Vitlaik and the ethereum foundation and told them to shut it all down then they could.
The most important thing about a cryptocurrency is decentralisation. Without it you don’t really have anything else.
All the alt coins are DINO or Decentalised In Name Only. Ethereum and every other alt could almost be considered a security by the SEC and could face scrutiny in the future. Gary Gensler has even hinted at this in the future.
The reality is most alt coins exist simply because no powerful authority has tried to stop them. Bitcoin exists because it can’t be stopped.
This is why billionaires buy millions worth of bitcoin but no alt coins. When you’re playing with millions you don’t put it in an alt that is controlled by a central figure or authority.
Most people in this sub buy $50 worth of Algo or Nano or ADA and think they’ve got it all figured out but they can’t even see the bigger picture.
People in this sub are so incredibly uninformed and think coins like stellar are superior technology because they can do fast, cheap transaction compared to bitcoin. What they don’t realise is the transactions are fast and cheap because there’s only one organisation validating all the transactions.
The same applies to Algo. You couldn’t get a more centralised block chain and yet this sub genuinely believes it’s going to be the next big thing.
I know this will get downvoted but hopefully at least a few people read it and start to understand what actually matters when it comes to crypto and stop following all the trash that get shilled in this sub.