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181 sats \ 2 replies \ @Coinosphere 10 Nov 2023 \ on: Does Bitcoin have a hostage situation of its own? bitcoin
The prices of these "trapped" bitcoin will not diverge as long as there are other countries that don't have these same rules. Prices will equalize globally even if inside that country there are 2 different classes of BTC. (Just like the USD doesn't diverge despite the dollar Blue rate in Argentina is so different from the govt rate there.)
I would think that inside the UK if that happens it will make the govt's actions stand out to the public as really obviously bad. So much so that within a year or two they'll have no choice but to repeal it or better. (Pendulums swing wild these days, so my bet is on much better.)
The prices of these "trapped" bitcoin will not diverge as long as there are other countries that don't have these same rules. Prices will equalize globally
I'm not sure that this is true. You would think prices would equalize, if information flowed freely around the world. However, if you're trading fiat for BTC the price on the P2P market varies greatly from country to country (even after accounting for the fiat exchange rate). For example, check P2P prices in India vs. the U.S. – they are always much higher.
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i like your optimism of the pendulum swinging back. can only see it going in one direction though. they will try harder and harder to prevent money leaving the system.
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