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161 sats \ 3 replies \ @om 19 Jun 2022 \ on: What are the Centralization Risks in Bitcoin? bitcoin
Government forcing the businesses to only use bitcoin through licensed providers - looks like EU wants to do just that. They won't ban bitcoin outright. Instead they'll say "in its infinite wisdom and mercy, the Crown allows the plebs to use that p2p thingy they're running around with, but of course not in any p2p manner. See, we're not stifling innovation!".
So the Crown will allow businesses to accept payments in bitcoin but only through a licensed serviced provider. Of course the users will be required to KYC. That is not an empty threat, already for example if you try to pay through BitPay it says "Verification Required: Due to European regulatory requirements, one-time customer verification is now required for all cryptocurrency payments".
And then you might send $1 to some protesters and suddenly you're locked out of BitPay and its ilk for some reason. And the merchants will shrug and tell you to use the CBDC instead or whatever. (Of course you'd be also locked out of CBDCs.)
That's why I despise who are in this game just to LARP and trying to get rich quick. Bitcoin should be treated as an ongoing protest again the status quo
Bitcoiners should embrace black markets and stop being fearful of the institutions
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Robosats, great market, but not alot of users. Get amongst it :)
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This is sorta Monero kind of thinking.
I feel that "LARP" is too harsh for simply not sharing the ideology. It's ok for people to come for profit. It is our job then to align incentives in such a way that people will want to use bitcoin instead of whatever gov tells them to use. Coming hyperinflation will make it much easier.
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