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0 sats \ 6 replies \ @Solomonsatoshi 9h \ parent \ on: Why the US Government Plans to Buy 1 Million Bitcoin bitcoin
Bold talk but not many hodlers want to be left with a stack that is illegal to use.
Most hodlers are in it for the speculative gains and so would accept a compulsory acquisition offer.
They don't need everyone to accept it - as long as a good majority do.
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0 sats \ 5 replies \ @Aardvark 7h
Laws can only be enforced if enough people follow them.
The government is going to shut down p2p? That totally worked with the pirate bay.
But oh no, all those illegal mp3s!
The government trying to shut down bitcoin is exactly why you DONT sell.
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0 sats \ 4 replies \ @Solomonsatoshi 7h
And yet how many hodlers acquired free of KYC? How much trading is done p2p? SFA. How many hodlers would refuse an acquisition offer?
How rapidly institutional custody is gaining market share. Coinbase already hold custody over 10% of all BTC. Have you looked at how Order 6102 worked?
They don't need all hodlers to surrender, just most.
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0 sats \ 3 replies \ @Aardvark 7h
Bitcoin will still be around. USA isn't the only country.
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0 sats \ 2 replies \ @Solomonsatoshi 7h
USA absolutely dominates global financial markets. Most western nations are militarily and monetarily subservient tribute states to the USA. The utility of Bitcoin as a p2p payments protocol is already hugely compromised via the combination of tax reporting requirements imposed upon consumers and businesses and by the removal of banking access or the threat of it faced by businesses who dare to accept Bitcoin as a payments option. Bitcoin has already been slyly and very successfully redefined into a narrative of being almost exclusively a speculative commodity- far from the p2p payments protocol envisaged in the white paper. If you think the Fiat Debt Slavery Bankers Cartel are not going to oppose and obstruct any threat to their MoE monetary hegemony you are dreaming...
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0 sats \ 1 reply \ @Aardvark 6h
P2p is primarily used in places where it's needed. If bitcoin were made illegal to hold in the USA then innovation would happen around p2p.
I'm sure the banks are going to obstruct, but I stick to my point. I'm holding I don't care what any law says.
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0 sats \ 0 replies \ @Solomonsatoshi 6h
All very well and good but you must acknowledge the reality that you are just one of many hodlers and you must consider how many hodlers hold mainly for the hope of fiat denominated speculative gains?
They can be expected to mostly accept any compulsory acquisition offer rather than be relegated to holding an unlawful asset and being forced to trace on a black market.
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