reply on: Is The SBR A Threat To Self Custody? \ stacker news ~Memes

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41 sats \ 12 replies \ @Jon_Hodl OP 18 Dec \ parent \ on: Is The SBR A Threat To Self Custody? Memes

The state would probably custody their own stack but will SBRs be used as a catalyst to outlaw or ban self custody for normal people like you and me?

51 sats \ 3 replies \ @freetx 18 Dec

So the state is going to ban people from holding long strings of numbers?

Please explain how this would work?

40 sats \ 2 replies \ @Jon_Hodl OP 18 Dec

They do things like reference KYC data to see who owns it and then seize it from them.
Track IP activity and see who’s sending/receiving bitcoin and then incarcerate or kill people who do.
If you’re not running your own node, then your xPub key is in the hands of countless other nodes that you’ve connected to.

Aside from a small and intolerant minority of bitcoiners, most people have little to no privacy when it comes to Bitcoin.

I think it would be pretty trivial to ban Bitcoin in the US because everyone has lost sight of what freedom is and that we the people are in charge.

51 sats \ 1 reply \ @freetx 18 Dec

If what you say is true, then bitcoin was doomed from the start.

40 sats \ 0 replies \ @Jon_Hodl OP 18 Dec

Only within the jurisdictions that ban their citizens from owning it.

Math cannot be stopped but human beings can.

0 sats \ 7 replies \ @grayruby 18 Dec

Hopefully they don't even try and if they do it is challenged and overturned in court.

20 sats \ 6 replies \ @Jon_Hodl OP 18 Dec

Agreed.

Just wondering if anyone else is asking some of the more difficult questions while we are all high on NgU

20 sats \ 1 reply \ @Enemy_of_the_state 18 Dec

The first person that is jailed or killed, everyone else is going to be leaving asap. If I’m the first person, it’s going to be very costly for them, with no payoff.

ΜΟΛΩΝ ΛΑΒΕ

120 sats \ 0 replies \ @Jon_Hodl OP 18 Dec

I like your style.

I hope you’re right.

0 sats \ 3 replies \ @grayruby 18 Dec

It would be difficult to enforce. I suppose they could easily ban and enforce transfers out of kyc custodians like Coinbase to non custodial addresses but not sure how they enforce a ban on self custody. Even if they knew every person that held bitcoin in self custody they would need them to turn it over willingly or search their premises.

40 sats \ 2 replies \ @Jon_Hodl OP 18 Dec

…and arrest anyone who was unable or unwilling to surrender their private keys.

0 sats \ 1 reply \ @grayruby 18 Dec

You would have to prove they didn't lose them.

20 sats \ 0 replies \ @Jon_Hodl OP 18 Dec

If they do a good enough job with a propoganda campaign, they could make it so that you’re still liable unless you can prove that you sent them to a compliant custodian.