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30 sats \ 4 replies \ @elvismercury 21 Mar \ parent \ on: Pubkey, Bitcoin Bar, is opening a location in Washington, DC bitcoin
I agree that would be a big boost for adoption. It would be good in the short term. But would it be good in the long term?
I seem to be in the minority in not wanting any of this govt bag-buying. I know not every bitcoiner is going to be a hardened cypherpunk, but the level of softness and centralization right now is pretty alarming.
I think it's inevitable in the long-term. I'm in DarthCoin's camp, that non-custodial is not necessary for everything. For the small amounts that we play with on stacker.news, custodial is totally fine and sensible.
Also, removing the money transmitter rules would be a step in removing the government influence over the Bitcoin ecosystem. It lets wallet and app developers more freedom to choose custodial or non-custodial as their users desire.
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The gov going easy on bitcoin has its tradeoffs. It’s one of the reasons why noncustodial solutions suck. The harder the gov is on custodians, the better the alternatives will get.
If bitcoin is anti fragile, or meant to be at least, we should all wish for the government making it hard to use. In the long term, I think that’s what’s best for bitcoin. In the short term, and practically, it sucks.
Fortunately, I don’t think governments being nice to bitcoin will ever last longer than 8 years.
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Makes sense to think of hostile government regulations as evolutionary pressure for bitcoin
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My guess is that we've got till midterms. Hope some useful things can come from the honeymoon.
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