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84 sats \ 4 replies \ @Solomonsatoshi 6 Nov \ parent \ on: Be careful what you wish for: Bitcoinization can and will have huge implications bitcoin
The ratio of self custody is in steady decline.
The number of hodlers who have not been KYCed is even smaller.
The rationale for holding Bitcoin as a speculative asset is obvious and is the primary reason most private holding are held.
The description and perception of Bitcoin as a speculative commodity is a subtle but powerful undermining of what Bitcoin was established to achieve.
It makes it easier for a ban on private custody to be imposed.
Why would anyone need to hold Bitcoin in private custody if they can have exposure via a managed ETF?
private custody =/ institutional custody and etfs etc.
private custody lets you spend it directly... and i completely disagree that folks do not know the difference especially now.
mr trump and co reducing/eliminating capital gains taxes on spending i believe is a real possibility now
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Private custody in the form of institutions holding Bitcoin while technically private can easily be differentiated from privately held Bitcoin.
Order 6102 was successful in large part because most of peoples gold was held by institutions which could be relied upon to co operate with the government.
If they remove the CGs on Bitcoin used for MoE I will eat my hat- happily- I do not see it happening but would be very happy to be proved wrong.
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anything is now possible now under Mr trump.
repubs hold the house senate and now white house
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