Topic: Is this the kind of world you want to live in? [read] - page 4. (Read 486 times)

I tell you this we are almost there. The sudden change of SEC policy just to allow the approval of ETF which has long been rejected by them seems like a way out for them right now. If people could hold spot in institutions like Blackrock then they don’t have anything to hide as I believe the benefits the government is getting from this ETF saga is that they can Atleast kill the focal point of privacy and properly manipulate the market too. After this ETF I see them coming hard for non-KYC platforms or decentralized ones. Sadly most investors are not aware of this or maybe they don’t care, all they are after is it’s price pumping because this new scheme will bring adoption

But that's literally not how Bitcoin works. I mean sure a govt could technically make it illegal to own bitcoin yourself, though that would be preposterous. But that isn't how bitcoin works so it would be unenforceable. You'd just have people migrating away from centralized crypto exchanges to decentralized exchanges or other ways to buy bitcoin.

And identity verification to create an address?? what?? You can literally create an address on your own. You don't need anyone's approval or verification to create an address, so again, unenforceable.

Let's not worry about loony conspiracy theories alright. Let's focus on making Bitcoin better and growing adoption rather than talking about dystopian conspiracy theories. Just sayin. Don't worry so much dude hahaha. Enjoy the fact that you happen to be living during Bitcoin's birth and growth.

"In summary, what if Bitcoin goes against the intention of Satoshi?"

I suppose this is the nightmare of bitcoiners, that we all pray it never happens, and we keep trying our best to put more people in the crypto spaces into this knowledge never to support CEX or anything that has to do with aiding governments have control over Bitcoin.

We have been under the control of a few people who call themselves governments because of the monopoly of power they have (we gave them), and now we have the opportunity to be free from central control. We all have to do our best to make sure this opportunity never leaves our custody by supporting privacy with all we have.

there have been conspiracy theories about it. and although it seems quite possible such as BlackRock buying the shares of the BTC mining farms, it looks like there is no reaction to it since we are trusting so much of the network that they will not be able to control it since there are other countries who are also mining BTC.

but it must be kept in mind that all governments whether communist governments or not, they want to control the people which means they all can communicate like how they do these days. China and US and Russia communicate with each other and look at the bank records and blockchain data to see who's naughty or nice.

I mean, it's been discussed time and time again that attempts to attain such a level of control are to be expected, right? It's the reason why the main recommendation is no-kyc exchange, non-custodial wallets, and maybe mix/coinjoin your coins.

And if a certain government goes too hard on bitcoin, some of them will simply go silent for a while, or move to greener pastures.

It is becoming clear every day that the government through institutional investors wants to control the Bitcoin space. These investors are making Bitcoin more popular and accepted but it is gradually moving the sector towards centralisation. Some mining pools are even asking for KYC which is a clear indication that they want to kill privacy. I am afraid that most of us here don't have the financial or political power to stop these moves but at least we could do our little bit by sticking with decentralised platforms. We have to enjoy privacy as long as it lasts by avoiding all platforms that ask for KYC.   

Every day, we are using Bitcoin to buy goods and services, and also to receive money in return for goods and services from others.

We can send money anywhere around the world, without having to pay expensive fees* which have been set by a money transmitter.

But what if it wasn't like this?

What if we were no longer allowed to store bitcoin ourselves, and be forced to leave them on an approved exchange or bank?

What if we needed to submit identify verification every time we wanted to create an address?

What if lobbyists successfully split Bitcoin into two partitions - the restricted walled garden, and the rest of the world?

What if people in charge could set an arbitrarily high fee for anyone who wanted to make a transaction?

It's not so much about killing bitcoin, than it is controlling it. We are sleepwalking our way into a dystopia where Bitcoin is no longer "A Peer-To-Peer Digital Currency". Banks want their share of the pie, and with Bitcoin inevitably becoming a large force to reckon with, they will seek any way to get a share of it. So they will pay lobbyists to advocate rules that make it difficult for the normal person to use Bitcoin, while making even stricter tax reporting requirements when selling bitcoin. Sure, one may say it's the IRS collecting taxes, but then again, the government bails the banks out, time and time again. So what we have is "bitcoiners funding banks" indirectly.

Never allow this to happen, and you can do it by supporting privacy, wherever it exists.

Crypto privacy is the last weapon you have against financial corruption.

*If not mainnet, then Lightning Network.