it does not apply to private hodlers sending bitcoin to each other. only when it touches a companies wallet. which means that every US btc owner will transfer his/her coins to self custody in the next 14 days. less coins available on exchanges = bullish for bitcoin.
I have some difficulities figuring out what to make of these proposed practices that seem to have decent chances of going into effect. Yeah, of course, they create greater obligations and pretty much deter HODLers from moving their coins to a private wallet, and we still need to know how the fuck the exchanges are going to verify this beyond a mere statement from the HODLer that the wallet that they are transferring to is their own wallet. Yeah.. burdens.. and perhaps will create some incentives for the creation of more underground kind of transactions..
I am not really going to change too much of what I am doing currently, and will see how it goes. My personal bitcoin exposure on exchanges is way smaller than it was in 2015/2016, which might have been around xx% or more of my holdings were on exchanges. Then in about mid 2017 I downgraded to somewhere between about xx% .. and currently, I just looked at it, and it appears to be around xx%-ish... (
edited my disclosed percentages for reasons.. hahahaha... you fucks!!!). I am just going to ride it out, and see what it does. I have already been KYC'd on those on exchange coins anyhow, and I was not even considering transferring those coins out, even within a variety of scenarios, including having to report them.. those are merely coins that could be liquidated on a BTC run, if I were to so choose.. and yeah, sometimes moving coins around and changing your system based on fucktwats.. whether governments or otherwise, can cause issues too, but I understand the motivation and rationale that comes from what seems to be proposed currently.. and there are likely BTC HODLers who are way too overexposed in terms of NOT even having coins under their own control, and these kinds of proposed practices should cause some reflection upon risks that they are taking in that direction.. and whether that risk is sufficiently balanced.
This is another example of unanticipated risks of Bitcoin, especially of the
Big Rhino variety. My worry (for years) has been that while the Bitcoin Ecosystem is essentially unbreakable itself (managed properly by HODLers), it is the Entrance and Exit Ramps that are vulnerable to strict controls. It is clear enough to me that Bitcoin will come under further scrutiny and regulation as
.gov loses more and more control (and their financial need/greed rises exponentially...).
Any doubts that .gov will likely grow ever more authoritarian? Look at England locking down London right now...
Since no one can predict the future (and major technology changes), prudence suggests not holding
too much of net assets in BTC. I understand (and accept to a degree) the arguments of "betting on the fastest horse" (etc.), but there are ample precedents showing danger of being too concentrated. Just now I read above about Elwar's Satoshi project not working out due to, in essence, a Big Rhino problem.
The NICE BUMP up in BTC price has been useful for me. I very recently sold a smidge, continuing my strategy of taking some profits. BTC rose to well over 1% of my net, yet my sales were not enough to drag that down to the ~1%.
One should not be afraid of diversification and taking some profits along the way in an asset that really does look to be world-changing. Taking some profits along the way, however, does not lessen my enthusiasm for this wonderful new asset class that Satoshi (et al) have invented for us all.
My comment was in regards to how much I personally was going to take off exchanges in response to the draconian proposals that are likely to go through, and my conclusion is that I have already reduced a lot of that risk and I am willing to let ride what I have on the exchanges and to see how this plays out.
Your take on the matter, OROBTC, seems to be nearly the opposite of mine and you are concluding that the whole BTC industry is too risky based on these kinds of attacks, and I hardly believe that BTC is in a worse position than it was in 2013-2019 - and in fact, BTC seems to be even in a stronger position with the passage of time, lindy effect and continued strengthening in a variety of regards, including institutional focuses on it.. and all of this aspect of bitcoin being stronger seems to be why some government or even quasi-government entities are going all draconian, as a kind of overkill that might well end up back-firing on their asses...
And, also like Biodom said in his response to you. You seem way too fucking whimpy in regards to how much you are allocating in Bitcoin, and sure, I said this to you before, OROBTC - and of course, you are a BIG boy so you can decide for yourself how much to allocate into bitcoin and how often to reallocate to keep your allocation in bitcoin manageable and reasonable... I, personally, am hardly saying any of that.
Even though I regularly shave bitcoin profits off as the BTC price goes up, my shaving off of BTC profits is systematic and it is whimpy as fuck in the shaving off department - which even recently instead of shaving off 1% for every 10% rise, I am more like shaving off half of that. So for the most part, I let my BTC profits ride - which has been doing very good for me.. and my non-bitcoin investments are still big enough to sustain my lifestyle (the one that I am leading so far), so I personally do not feel over-invested at all in BTC even though BTC is getting close to 90% of my total holdings in various quasi-liquid assets, and that 90% calculation has to do with BTC price appreciation rather than my investing high amounts... and I cannot hardly justify taking money off the table, just to feel better when bitcoin is doing very good and likely to continue to do very good for a variety of reasons that we have gone over in this thread a multitude of times.
, next stop 1 trrrrrrillion! 
Weeeee...
... We are flat lining for a few months now. Until you see 200% rise per month, there is nothing to see here. 
