Quote from palawan:
I own bitcoins, but I'm not oblivious to the fact that if the US bans it or makes it illegal (just like what they did with online poker); I can see bitcoins going to less than $100 or even single digit prices. I'm not saying it's gonna die for sure, but...
China banned it and it briefly dropped. I think it was around $1,200 when that news broke and today its $900(and climbing). The chinese economy is only a little bit smaller than the US. The US could ban it, but I don't think over the long term, it will have any effect. Congress already considers Bitcoin a legitimate currency. Governments can try to ban it, but just like weed, people are still going to use it.
http://paymentmagnates.com/industry-news/us-congress-see-bitcoin-as-a-legitimate-currency
