It's still too early to tell that bitcoin has failed to do its purpose. Bitcoin is still on its early years. There still so much more waiting for it in the future. Right now, bitcoin is doing exactly what is intended for it. It serves as analternative payment option for online transactions in several countries already. Some countries even made and are planning to adopt bitcoin as their legal tender. The fact that it does not only plays as an alternative choice, but becomes the choice itself is an achievement for out community. Aside from being a store of value, it is now used to be a medium of exchange. Indeed, bitcoin has been becoming more popular and used in other parts of the world. It is fulfilling its purpose of becoming a "currency" slowly. And we should notice that.

The banning and the status of legalization of crypto and bitcoin is beyond our control. It is the government's choice and we have no power over it. But that doesn't mean that the government is having a leverage to control and manipulate bitcoin. The government just dictates the legality of it in their scope of leadership, but it isn't directly involved in the mechanisms and dynamics of bitcoin in the market. Because after all, bitcoin is decentralized. They can try to put regulations as much as they want, but they can't touch bitcoin itself because it isn't that easy to wrap it around their fingers.