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100 sats \ 1 reply \ @Solomonsatoshi 15 Jul \ on: When will the US attack self custody bitcoin
Order 6102 was in large part so successful because most peoples gold had already been entrusted to bankers.
ETFs and corporate Treasuries plus Coinbase are achieving the same high ratio of corporate custody for Bitcoin.
ETFs in particular gain custody without paying anything but rather charging the alleged owners of the Bitcoin fees for doing so.
Banning private custody can be even more effective when the majority of 'Bitcoiners' are holding for speculative gain purposes an will surrender custody (if they have it) in order to gain the government buyout price rather than being left with an asset that is illegal to trade and can only be traded on a black market.
How much Bitcoin is still held privately free of KYC? 5%?
The preparation for Order 6102B has been underway for a while.