I listened to Andreas recently and he is absolutely correct. Unfortunately there is a great danger on the horizon against bitcoin. Just as bitcoin was designed to be a parallel system to global finance, the top country are plotting to make bitcoin separated into two systems, a black market of unbanked criminalized innocent citizen, and a and this is truly the key argument
A parallel white market system where you truly do not own the keys, where your software and hardware wallets are backdoored with KYC and surveillance and your addresses are declared to the intelligence and tax agencies and you have no real privacy, safety, fungibility, or immutability.
I'd agree with this. There are currently a lot of important countries that have an obvious distaste for bitcoin (China, USA), and they are either trying to regulate it extremely hard or completely ban it.
We've seen in recent years, the governments forcing a lot of crypto service providers into a lot of KYC and Anti-AML services.
They will do this by legally persecuting Ledger Nano and Trezor and criminalizing and regulating every centralized exchange on the FATF list. They will treat anyone that they see unfit for western finance the way they treat Iran. The United States is categorically opposed to cross border payments to anyone in the world. They will not stop until they geofence bitcoin into such a corner that you are unable to truly own your keys, destroying the purpose of crypto. Your KYC data will be leaked, your safety will be jeopardized, and any negative turn of events in civil liberties in Europe and the USA and Canada and Australia will put you in jeopardy because they will have your keys and your address.
The Japanese and Taiwanese just made a backdoored Hardware wallet that rejects transactions that cannot pass KYC certification on both sides.
I agree. Hardware wallets have currently become a pretty big target for the US government, and I wouldn't be surprised if they try and put them in the same category as other financial institutions, eg banks.
I could imagine them trying to define them as a bank since the wallets hold money on it.
They made a hardware wallet that doesn't allow unpermitted state-compliant transactions. This HW does not truly belong to you, it belongs to the state, just like your legacy finance banking account
We all need to start initiating the process of suing G20 countries in the supreme court of the united states, international courts in Brussels and the Hague and EU parliament. They must be stood up to preemptively. They will incrementally take your civil liberties away.
I read this on the news as well. They are centralized crypto and trying to take over, so the money you have, it actually isn't yours.