It’s the equivalent of farmers voting for trump and getting screwed over, Bitcoin bros are next in line
“bitcoin bros” who use custodial wallets and “bitcoin bros” who do high-frequency trading on Coinbase are not the same people. This is not good news any way you spin it, just further consolidation of power.
I think most Bitcoin bros just care about the line going up; not about privacy/freedom. Trump and those around him are getting insanely wealthy from crypto in general.
As reminder crypto are being centralized so it is looking more like traditional finance. Coinbase holds over 12% of all Bitcoin and 11% of staked Ether.
That’s everything of value. All a well decentralized ledger could do is make it incredibly hard to block transactions, change the parameters for total coin supply and dispersion rate. Don’t know why anyone expected anything in terms of more even wealth distribution. Wealth distribution is determined by off chain factors. Factors no different than any other value store
it’s never lupus lookin ass
big deal, and fascism. NATO colonies copying the fascism is to be expected. Spirit of 2nd amendment is spirit of right to resist.
Patriot Act’s name is meant to distract from fascist powers within it, and while bitcoin is not super anonymous if you use techniques that are now recommended to “crackdown”, there is improvement.
Bitcoin’s superiority over gold is the ability to move to a more welcoming jurisdiction without border confiscation, or luggage weight, concerns, and so US/Colonies crackdown on “definancialization rights” may well lead to wealth drain from the empire.
What the blunt
It’s my understanding that Monero actually provide anonymous transactions.
Yes? But who own monero? And it’s verification nodes? Might end up centralized like btc and eth
Surveillance state adds suveillance🙃
Only centralized entities are affected by it. This isn’t a blanket ban on self-custody, as Lola Leetz puts it in a Nostr comment about it.
…yet. Authoritarianism creeps, it crawls silently, strategically, meticulously, knowing that far too few will notice or care until it’s too late.
The people saying it’s a blanket ban is just spreading FUD about it right now. While it’s a valid concern, it’s highly unlikely the blanket ban will be seeping to DEX’s.
