In plain English, if they continue printing more and more dollars, people will soon want no more dollars. They’ll look for alternatives. A “time bomb” is only useful if it blows up. And a crime must have a victim. People – not wanting to get blown up – seek shelter. This is the problem the US Federal Reserve will face in the future, as a report from the Minnesota Fed, entitled Unique Implementation of Permanent Primary Deficits?, understands. Governments can only run permanent budget deficits if there is no escape route into bitcoins, so they must be banned or taxed to death.
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70 sats \ 2 replies \ @Jon_Hodl 5 Nov
Anyone who's read the Sovereign Individual knows that you cannot escape the flight of capital and as we gain individual power with bitcoin, passphrases, and multisig, it's only a matter of time before those dinosaurs collapse.
Good riddance.
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36 sats \ 1 reply \ @Solomonsatoshi 5 Nov
Bold talk but ask your self
-How many hodlers hold Bitcoin without having been KYCed?
-How much of the entire market cap is now held by institutional custodians?
-Do you really believe the most powerful state backed monopoly on the planet- one that sustains the US model of hegemony will surrender to a protocol that they can engineer a ban on private custody over?
-Was E.O. 6102 in breach of the US constitution? If so that did not stop them from imposing it.
-How many hodlers would hold out against an offer of acquisition combined with a ban on private custody that would decimate the value and liquidity of their stack?
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3 sats \ 0 replies \ @f6287b82CC84bcbd 6 Nov
"sorry I lost my lightning node in a boating accident"
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31 sats \ 0 replies \ @BeeAye 5 Nov
I assume outright banned in my lifetime in US.
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81 sats \ 0 replies \ @ContraMundum 5 Nov
Good luck. Try and turn off the internet and see what happens to the world!!
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34 sats \ 1 reply \ @anon 5 Nov
In the early days of the internet, governments attempted to tax the internet but soon realized it was impossible to tax decentralized global networks. They also tried to ban torrents for years, but these efforts were unsuccessful. Because, Satoshi thought this aspect through carefully and built Bitcoin from the ground up to be resistant to government tactics. He drew inspiration from various existing technologies that still exist even after governments tried to get rid of them.
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0 sats \ 0 replies \ @nym OP 5 Nov
Yes, a master at tradecraft.
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10 sats \ 0 replies \ @co574 5 Nov
Ban deez nutz 🥜
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19 sats \ 1 reply \ @Rothbardian_fanatic 5 Nov
I doubt it. How can you ban decentralized networks. VPN rules the world!
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11 sats \ 0 replies \ @co574 5 Nov
wait for the full fledged NYM FTW!
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6 sats \ 0 replies \ @sangekrypto 5 Nov
Sometimes this news starts to be far-fetched, how is it possible that Bitcoin will be banned or taxed? Even though Bitcoin is everywhere in the world, it is worth analyzing it first.
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