Bitcoin is useless.
Okay. That wasn’t supposed to mean what you just thought. What I am saying is that Bitcoin is way less useful and more robust than other currencies like Ethereum. It’s slow. It has almost no contract functionality, or any privacy features.
But there is one thing that makes it way more valuable. One thing that is way more important than anything else that any other coin can provide. Bitcoin is symbolic. Bitcoin is the face of fiscal freedom.
Which is why governments almost exclusively go after it when there are many more currencies that are way more viable to use. Bitcoin is the symbolic head of all cryptocurrencies, and if you legislate against or outlaw or criminalize Bitcoin, it sends a message that any attempt to take away power will be met with a hammer of the powerful government.
If someone outlawed Ethereum, it would be a huge blow — because the Ethereum network is very usable and feasible for a society to use. But as long as Bitcoin remains intact, the idea of fiscal freedom does too.