What do you all think of Thibaud Marchel's article today on BTC Magazine, entitled, "Regulations Will Lead to a Two-Tiered Bitcoin Society?"
This is the part I want to highlight –
"Regulators are going to regulate; that’s what they do. Bitcoin cannot be regulated, but custodial ramps such as exchanges, brokers and lenders can and they will be attacked. Self-custody is most likely going to be regulated out of the market for most buyers. It will become very hard to buy bitcoin and take full custody of it on these venues — maybe even close to impossible. This date is coming soon."
Do you think the exchanges and brokers would bend over so easily as to deny self-custody altogether?
Also this part —
"Bitcoin is going to be used as the underlying asset to the global financial surveillance network, the likes of which we have not yet seen. Regulated companies will form a network of compliance on top of Bitcoin and prevent you from holding what could have been truly yours. Perhaps they will even wrap it into a central bank digital currency (CBDC) to protect you against the volatility of bitcoin. You will buy paper bitcoin and you will be happy."
This makes it sound like Bitcoin's "final boss" before Hyperbitcoinization will be... paper bitcoin.
The issue that I see is that there's a strong and growing pro-Bitcoin lobby in the United States that would (presumably) push back against this sort of thing. But it's possible they'll just be steamrolled.
You can read the full article here (it's not all doom and gloom): https://bitcoinmagazine.com/culture/regulations-and-two-tiered-bitcoin-economy