Assume they ban exchanges in the US. The purchase of Bitcoin has to go OTC and P2P. Is that net good or bad for Bitcoin and the 'Bitcoin Standard'?
415 sats \ 3 replies \ @siggy47 24 May 2023
It would be short term negative for adoption and price, long term benefit in all respects.
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20 sats \ 2 replies \ @Jannostr OP 25 May 2023
As a US lawyer, do you think that is where Biden's policy is going?
One thought I had...in all of the 'Chokepoint 2.0' 'crackdown' there hasn't been anything, as far as I can tell, to suggest bitcoin would ever be illegal in the US. They are trying to cut on-off ramps, starve 'crypto banks', deny fed master accounts to banks like Custodia etc.
But even considering the Wells Notice sent to Coinbase, it wouldn't be in respect of bitcoin, it would only be in respect of all the other 'crypto'. So, if there is a crack down on all non-bitcoin crypto, that may be a good thing for bitcoin.
Also, if some key legal battles are won, like the Bitcoin ETF litigation, SEC vs. Ripple, and Coinbase vs. SEC, there could be quite a future that unravels.
Mix that with presidential candidates who are pro Bitcoin (Kennedy, DeSantis, etc), could be in for an interesting ride.
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0 sats \ 1 reply \ @siggy47 25 May 2023
I think the Biden Administration and Congress, to a large extent, would like to crush anything that competes with their debt based system and the US dollar. However, in the US the Supreme Court has deemed software code as speech, protected under the First Amendment. Check out this case. I was very interested in PGP back in the day, and I remember this litigation.
The EFF was pretty successful.
If you want to read about this stuff, you can start here:
https://www.stitcher.com/show/the-history-of-computing/episode/pgp-and-the-first-amendment-78101225
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0 sats \ 0 replies \ @Jannostr OP 26 May 2023
Super interesting. I didn't realize there was a US SCC case on code as speech.
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0 sats \ 0 replies \ @DarthCoin 25 May 2023
Why not earning BTC?
Why people still buy and not earn?
Start earning, start that bitcoin circular economy and fuck all the govs.
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