Of course history of use matters. Otherwise the cigs I'm smoking would have been banned a long time ago.
And sure, if people want something bad enough, be it raping, shooting people, shooting dope, or using bleatcoins, they will get it. OTOH, when things are made illegal, they become less desirable. Not to pubescent children with daddy issues, but to most people.
The difficulty of enforcing regulation is not a result of the length of a thing's history. It is a product of its distribution, prevalence, concealability etc. and these things can develop from a long history or a very short one. Gnutella and Kad network are relatively novel, yet I would like to see you regulate them away, even with all the $ from the MPAA in your pocket.And sure, if people want something bad enough, be it raping, shooting people, shooting dope, or using bleatcoins, they will get it. OTOH, when things are made illegal, they become less desirable. Not to pubescent children with daddy issues, but to most people.

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Not looking for the optimal solution, simply pointing out that you're factually wrong: making bitscoin illegal would discourage beetcoin extortionists 

But it won't. What will happen more often is that the crime simply won't be reported, and that the victims will be criminalized. Good 'nuff?

Explain to me the mechanics of paying off a bitcoin ransom for the case in question:
Ransomware attackers refuse to decrypt hospital's files after being paid off
"Negotiating with criminals doesn’t always work out, as Kansas Heart Hospital in Wichita learned last week. The hospital paid to get files back after falling victim to ransomware, but only got “partial access” and a demand for more money, Techspot is reporting.
That’s right: the criminals got their ransom, and then decided they wanted more money. The hospital’s president, Dr. Greg Duick says the hospital is not paying up."
https://www.yahoo.com/news/kansas-hospital-pays-ransomware-demand-235824773.html
The hospital director would use his personal money, ask his drug-addicted nephew to hook him up with BitcoinPro7569, meetup with BitcoinPro7569 to exchange $30k US in unmarked, non-sequential 20s for BTC-coins behind Wendy's dumpster? "Negotiating with criminals doesn’t always work out, as Kansas Heart Hospital in Wichita learned last week. The hospital paid to get files back after falling victim to ransomware, but only got “partial access” and a demand for more money, Techspot is reporting.
That’s right: the criminals got their ransom, and then decided they wanted more money. The hospital’s president, Dr. Greg Duick says the hospital is not paying up."
https://www.yahoo.com/news/kansas-hospital-pays-ransomware-demand-235824773.html
Or would he cook the hospital's books?
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