What if new regulation came out in 2021 where only untainted, freshly-minted bitcoin were to be deemed of any value? This would make the BTC owned by the vast majority of retail investors essentially be worth $0, leaving only the super-rich and companies like Square and PayPal be left with BTC that has any value at all. I wouldn't count on the Bitcoin core devs to suddenly update the protocol to make BTCs unfungible, so...
I see this as a black swan event for BTC, or at the very least, a black swan event for the 99% of us who built their wealth with normal, exchange-traded BTC. Thoughts?
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