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of course the panic is overblown because it's libertarians who have Trump derangement syndrome
NPC behavior
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too much statism is dangerous for Bitcoin
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Tax-free gains after some timelock (1 yr for instance).
"de minimus" exemption of $500-$900 per transaction
These would greatly support Bitcoin becoming more of a medium of exchange and boost the emergence of circular economies.
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Yeah, pretty much my take.
My additional take is that: If shitcoining kills bitcoin, then it was dead to begin with.
I think 80% of panic over the EO is overblown and we just need to chill and allow game-theory to keep working.
The most important thing was ending Chokepoint 2.0 and ending SAB-121. Simply allowing bitcoin/stablecoins to be used normally throughout the economy is 100% of a win for us.
The only thing we are missing is: Capital Gain reforms of BTC. I can see 2 likely ways this proceeds: