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Please explain how can you ban something that you can't control?
Sure- you make it unlawful to hold or trade Bitcoin privately.
The vast majority of hodlers have been KYCed.
An increasing ratio of the market is already held by complicit institutions.
A ban on private custody, probably with payment for sats at current market price would mop up most of this threat to USD fiat debt hegemony.
Most of the western world is militarily and monetarily subservient to the US so would follow Uncle Sams lead.
You dont have to get every last sat but if you get a good most of them the thing is effectively captured and controlled. Ala Order 6102.
The majority of the world will defintely not follow Uncle Sams lead. Ban on gold only happened in USA. The most they can do is Europe following them, but Europe is more and more irrelevant and it is in the process of being destroyed.
If they ban Bitcoin from USA or Europe we move to another country and let them devaluate their shit-fiat-coin until they are completely irrelevant. Bitcoin would only suffer a 2 year devaluation like it happened with the China ban. After that, it will be unstoppable.
Are you saying Japan, S.Korea, Australasia, Canada, the EU and Britain are not monetarily and militarily subservient tribute states to the US?
These are the nations where perhaps over 90% of the available Bitcoin is held, 90% of that already KYCed and or held under institutional custody.
The vast majority of hodlers have been KYCed.
So what? If they never go back to fiat, what is the problem?
Please explain how you would take my sats from a private wallet?
From this one for example:
Please take them if you can
Most people will cave to the threat of prosecution and the fact that if they dont surrender their sats will be illegal to trade and therefore considerably devalued.
They don't need to capture all sats and all hodlers- they dont care if you hodl on as long as they effectively end the open market- again, see Order 6102 for effective historical precedent.
You are forgetting one thing. While governments are doing all this, they are also making sure fiat money is an increasingly unattractive option to hold, and at an accelerating pace.
So there are two forces at play. One is as you describe where government pressures people to turn over their bitcoin, and you're right, some people will. The other is the force of survival that people have in the face of debasing money.
There are many examples in history where people risk life and limb to smuggle their wealth out of bad situations. You seem to think this survival instinct has disappeared from humanity. It is alive and well and Bitcoin makes it easier than ever compared to what refugees throughout history have done. Don't underestimate the motivation debasing money gives to people.
I agree with you. People will not give up, Bitcoin is so special.
However... an unmovable wall (government debt) is (finally?) coming into contact with an unstoppable force - Bitcoin.
And I'm not exactly sure what that will look like. Beyond the ECB and FED papers of late we're familiar with. Some sort of... unresolved conflict.
Like most Bitcoiners you ignore the reality that as the USD fiat global hegemony has been declining since the Chinese economy and Chinese model of global resource hegemony has been building, relentlessly. This is understandably uncomfortable for Libertarians as it is runs counter to their belief that free markets will always rule supreme- history tell a very different story.
As the tertiary layer of the global network of infrastructure that China is building China is developing protocols to enable competition with the US legacy institutional and protocols which have emplaced and enforced US hegemony.
One of the most important of these Chinese protocols is its CBDC Yuan...sometimes called DCEP or E-Yuan.
DCEP is designed to greatly increase the efficiency of the Yuan fiat system and to enable very swift and efficient international trade payments outside of and free of the USD SWIFT hegemony.
Compared to Chinas already developed internal and external digital payments capacity Bitcoin is a midget.
It is far more likely that the Chinese CBDC will emerge as the major replacement of the USD.
All nations must trade with China or suffer serious consequences and from mercantile market dominance monetary dominance has almost always followed.
Do not think Bitcoin is the inevitable successor to the USD- it is not.
Bitcoin will probably play a minor role, especially in pockets of activity where Chinas advance is most strongly resisted- ie the 'western liberal democracies' who have been the major beneficiaries, allies and tributaries to the USD, but against the Chinese CBDC Bitcoins importance looks likely to be relatively minor.
Good point.
Hope enough people are prepared to stand up and fight for the right to hold Bitcoin privately. Perhaps there will be.
It's yet to be decided but IMO we have to be prepared and realistic about the probability they will seek to shut Bitcoin down.
Saying it will never happen just means if/when it does you will not be prepared for it - and that suits them just fine!
BE PREPARED!!!
Please sell all your sats right now! Are worthless for you now.
What are you waiting for?
https://i.postimg.cc/Pq2RW6LS/darth_weak-brave.jpg
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Sell all your sats right now. They will confiscate them from you anyways.
I will be gladly take them all.
I trade only in BTC, I do not use anymore fiat. Please stop me doing that.
When people will understand that all that a gov is saying is only bla bla bla and they need YOUR FUCKING CONSENT in order to do something?
So don't fucking consent, is that hard?
Who will you trade with?
Most people are sheeple.
With my close community and friends.
Did you built that community around you?
Or are you waiting for a sign from your lovely government to give you permission?
Sheeple are only those that are afraid of gov to use their sats and read these bullshit so called laws. They are NPCs... that doesn't count.
As I said so many times:
No I do not have such a supportive community around me though I have tried to some extent to build one.
Most people I know are sheeple with regard to the monetary system - they believe what they have been told by bankers and government regarding fiat money and the few who have bought Bitcoin have done so primarily for the hope of fiat denominated gain.
My guess would be that over 90% of Bitcoiners are not in it for the revolution and could be easily bought out. Hope I'm wrong.
You don't care if they ban Bitcoin private custody?