Drugs specifically? No, that did not work out well for the U.S.. But this is an apples to oranges comparison.
Crypto is uniquely dependent on power, Internet, and a secure and available blockchain. Anyone of those things the government can shut off in a heart beat. Hell, bitcoin mining (creating new bitcoins and participating in the exchange of bitcoin) takes an enormous amount of energy. Anyone mining it could be easily identified an shut down based on Internet activity and/or power consumption patterns.
Yeah that did so well with drugs right?
Drugs specifically? No, that did not work out well for the U.S.. But this is an apples to oranges comparison.
Crypto is uniquely dependent on power, Internet, and a secure and available blockchain. Anyone of those things the government can shut off in a heart beat. Hell, bitcoin mining (creating new bitcoins and participating in the exchange of bitcoin) takes an enormous amount of energy. Anyone mining it could be easily identified an shut down based on Internet activity and/or power consumption patterns.
https://www.cbsnews.com/news/bitcoin-mining-energy-consumption/
If it's made illegal, I can promise you it will absolutely tank in value.
Tank is fine. Still works.