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0 sats \ 0 replies \ @l0k1 15 Oct 2022 \ on: Unless Something Changes, Bitcoin Adoption In The West Will Be KYC’d bitcoin
Bitcoin adoption cannot happen first where people have no reason to want a very low inflation money anyway. And it's not just the west that is screwing this up. Every populous nation in eurasia and the americas is screwing it up. China, Russia, India, Brazil.
Only little countries have a clear and present incentive to adopt right now, and of these, only some have imminent prospects of government cooperation anyway.
Where people are already on the grey market standard and taxation avoidance is the rule the failure of fiats will drive adoption.
Once the street has adopted it, then the chances of governments formally "allowing" it goes up a lot.
The establishment has no interest in adoption, it is our business, and just as the network effect of Bitcoin led to its current billion dollars of market cap, it will eventually bend these governments over and ram it in anyway.
The rentseekers do not want this because it will derail the gravy train, but dinosaurs can't stop comets either.