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RE: My Body is Ready for 7 Cent STEEM! And Yours Should Be, Too (And You People Better Upvote This Because I'm Being Positive for Once)
Well, thats one way of looking at it. :)
However, this is not a Steem or Steemit problem. The entire crypto scene, with Bitcoin leading, is deteriorating. Especially Bitcoin after it got corrupted by Wallstreet, and that is dragging everything else down with it - justified or not.
And all that is a big problem for many crypto enthusiasts, who invested heavily in cryptos. Those who milk Steemit may turn away to find something else, but some other have invested their savings and are about to loose that.
State regulation is strangling the market more and more...
That issue comes on top, in different degrees varying from country to country. A concerted ban in, lets say, the the "western world" as in the Americas and Europe, or in Asia (China, Korea, India ect), would probably put a sudden end to the whole crypto thing.
But whats eating away the foundation of Bitcoin (and therefor all cryptos) is the trading of Bitcoin derivatives, without the need to own actual Bitcoin. So the trade volume can be indefinate, which totally disables any fair price discovery mechanism. (See gold and silver markets)
Thats the way to screw up cryptos without using nasty repressive laws.