For very wide adoption it will need to work better than other methods. Right now, if you have to send funds internationally, the bar for Bitcoin might even be lower than other, more expensive, complex, and legally recognized methods. Functionality will drive adoption of Bitcoin and similar methods. Any legal, or other obstacle, would have to actually target the functionality of Bitcoin for it to be effective.
I have done some venture capitol investing. Quite successfully in fact. And I have done very well with bitcoin. But many people will not even consider using BTC if it is illegal. Businesses/investors will will risk much less capitol on BTC. Scammers will see the lack of legal protection for users and move in. I would not put $100k of my money into such a shark tank. However if it had some legal protection, I might.
ah yes. but this is how you make real money. investing when there is fear, uncertainty, doubt. i don't see how the gubmint gets away with declaring btc illegal. there is just no good argument for it. yes, they can huff, puff, stomp around about drugs, sex, porn, assassination but knowledgeable ppl will laugh in their faces.
ppl complain about the whipsaws but what do you expect for a fledgling currency? as long as the block chain remains intact, we are good. and i think it will be as i think it would have been broken by now.
and as for taking over 50% of the network? have you seen the network figures recently? insane! 45x the biggest supercomputer in the world? i think its unbreakable.