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0 sats \ 0 replies \ @elvismercury OP 30 Dec 2023 \ parent \ on: On how to effectively end [bitcoin] bitcoin
Also brings up the interesting question of how many bitcoiners might be lying to themselves.
I'd love to know the answer to this, but I suspect it's unanswerable. A related question might be: who holds btc, and how much? My sense is that, at this point, most bitcoin is held by non-idealists, speculators of various stripes, the group you describe this way:
If you see it as a specupative asset ripe for trading, you'll not worry about KYC and will likely be looking to fiat-out in the end, for better or worse.
Most of the people I personally know are not waiting for the revolution, they're looking to make some money, or, at best, protect themselves vs losing money. If that's the general template, then perturbations from state-level actors will be impactful. If it's mostly Adam Back-types, then state opposition will mean something different.
Price increases are THE bonus. They're part of the mechanics of Bitcoin no doubt, but a bonus nonetheless.
I mostly agree -- btc could be unconfiscateable wealth and be hugely useful to many, so long as it was more or less stable in price -- that works at $100 just as well as at $100k, provided the people who wanted their wealth to be un-confiscatable didn't purchase it at $100k and then watch it fall two orders of magnitude. The two camps are conjoined twins for that reason.
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