CAN Governments effectively stop Cryptocurrencies?

Note the stress on the "can" and this generally being a question seeking feedback.

In my opinion, the answer is a clear, "yes". But, I admit I may be misunderstanding some fundamental of how cryptocurrencies work.

Step 1) is the government outlawing cryptocurrency or participation in a cryyptocurrency network.

Seeing that most cryptocurrencies don't use a tor level of privacy, anyone's participation can clearly be seen.
Step 2) would be the government joining the the network and recording IP addresses. Str

Step 3) Sending a subpoena, court order, or similar National Security Letter seeking subscriber information from your ISP.

Step 4) Raid, arrest & seize hardware of those participating in the network. Sure you can hide yourself with a VPN, but that just delays the inevitable as the government enacts KYC policies on VPN providers.

Step 5) Governments dance on the grave of cryptocurrencies as few dare use it.

Coments?

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.029
BTC 76065.61
ETH 2908.14
USDT 1.00
SBD 2.59