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0 sats \ 3 replies \ @frostdragon 27 Mar \ on: KYC'd Bitcoin is Worthless bitcoin
The government has full control and visibility of the exit ramp. Like - what are you using to buy bitcoin? A debit card? A bank account? How many of us are paying with physical cash?
At some point you're converting USD to bitcoin, and you're probably doing it electronically. If the government really wants to criminalize bitcoin and confiscate everyone's keys, can't they just look at your bank account to see if you've ever paid for bitcoin? Isn't that all they really need to know to investigate you?
The essential properties of money don't include privacy. Bitcoin is literally a public ledger. 🤷🏻♂️
But none of that matters because of how easy it is to prevent anyone, including the government, from stealing your keys.
Why does everyone think they want your stupid bitcoin? They will take ANY of your assets to foot the bill.
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Then you're talking about full on civil unrest at this point, if not the complete downfall of the United States... Doesn't seem like they'd self sabotage like that.
And again, that doesn't really fix the "infeasibility of non-KYC" issue anyway.