Governments will do what governments do, and that is to regulate, and to create derivative tricks such as Futures in order to profit from anything that attracts enough volume for them to bother, but this is all irrelevant for Bitcoin as it works as intended regardless of what government jurisdictions have to say about it, the blockchain keeps churning out blocks every 10 minutes incessantly, and this fact is undervalued.
I'm afraid you grossly underestimate the devastating effects of rehypotecation and fractional reserve banking (a.k.a. paper coin in out case).
Let's say that tomorrow an other 10 people decide to join us and invest in Bitcoin.
Let's say that paper Bitcoin is widely available and regulated/legislated/backed by government.
Of course neither you nor me with buy that shit.
But new investors into Bitcoin might.
And in fact most gold investors buy paper gold, not physical gold. So it would be hard to believe most people wouldn't jump on paper Bitcoin like rabid dogs.
And even if only half of the new investors are stirred towards paper coin, that still has a drastic effect on the price of Bitcoin.
I know you keep thinking that Bitcoin can't be printed into inflation, can't be faked, can't be multiplied at will. But all the exact sane can be said of gold. And yet it doesn't stop most people from buying paper instead of actual gold.
Neither you nor me want that, people rushing to buy paper coin. But that's exactly what wall steert/banks/gubermint would do to Bitcoin. Believe you me, Wall Street is not interested in pouring billions into Bitcoin. All that they want to.do is promote derivative vehicles for their profit.
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