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7 sats \ 2 replies \ @020cd26eee 30 Jun 2023 \ on: Let's hear your controversial Bitcoin take. I'll go first: bitcoin
Recursive covenants will allow governments to control Bitcoin while at the same time keeping it decentralized and thereby not killing off a trillion dollar asset class.
I posted this in a similar thread.
How are recursive covenants different than if governments were to burn those coins? Surely those who don't want to engage with covenants wouldn't use coins locked in recursive covenants, so to them it would be the same as burning those coins. The same risk exists today.
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You don't have to do it. The covenant would just be an easy alternative to doing AML paperwork.
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