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1/ I think this crisis has proven how severely the US govt will react if/once #bitcoin 
adoption becomes meaningful and becomes a perceived or real threat to USD.
There will come a day when the idiots a the top ban owning #BTC just as they did with gold in 1933
adoption becomes meaningful and becomes a perceived or real threat to USD.There will come a day when the idiots a the top ban owning #BTC
just as they did with gold in 1933
2/ I don't say this as a scare tactic but because my own thoughts on the matter have changed after this #COVIDăŒ19 crisis.
There will one day be a fight.
And I think probably 90%+ of the holders on that day won't be prepared. And could/will be frightened off
There will one day be a fight.
And I think probably 90%+ of the holders on that day won't be prepared. And could/will be frightened off
3/ People need to take the steps now in order to be in a position to
- keep their BTCs
- maintain plausible deniability
- be able to move their BTCs if their favorite or comfortable infrastructure disappears due to govt crackdown
- keep their BTCs
- maintain plausible deniability
- be able to move their BTCs if their favorite or comfortable infrastructure disappears due to govt crackdown
4/ I know the popular responses are that
- you cannot "ban" bitcoin
- its become too intertwined with the legacy system
- it would be a self-defeating move because then it validates the use case of BTC and gives it further legitimacy
- you cannot "ban" bitcoin
- its become too intertwined with the legacy system
- it would be a self-defeating move because then it validates the use case of BTC and gives it further legitimacy
5/ Those points are valid but I believe (most) governments are largely stupid, short-sighted, and above all else, power-hungry.
If they see something threatening their power --> insta-ban. Without even really thinking through ramifications.
If they see something threatening their power --> insta-ban. Without even really thinking through ramifications.
6/ And since "banning bitcoin" is impossible, they will do everything else they CAN do
- launching a Cold War-esque "Red Scare" campaign against ppl known to own and support BTC (maybe called the Orange Scare?
)
- launching a Cold War-esque "Red Scare" campaign against ppl known to own and support BTC (maybe called the Orange Scare?
)
7/ Supporters of #BTC will be denigrated as unpatriotic because they choose a system that chips away at dollar superiority, "evades" taxes, and all the old classics of terrorism, criminals, etc.
will be denigrated as unpatriotic because they choose a system that chips away at dollar superiority, "evades" taxes, and all the old classics of terrorism, criminals, etc.
8/ Companies like @Coinbase, @chainalysis, and any others will be put in the position to either kowtow to govt and turn over their customer data or face criminal charges.
And if @ErikVoorhees couldn't do it, don't hold your breath for anyone else
And if @ErikVoorhees couldn't do it, don't hold your breath for anyone else
9/ Tax records will be reviewed, bank accounts will be frozen, and certain people will certainly be made examples of a la @RealRossU
10/ So I think we need to do more now. Now is the time!
Right now is when ppl are realizing how quick their government is to tear up the Constitution, strip away their civil liberties, and overstep in a tone-deaf militaristic manner.
Right now is when ppl are realizing how quick their government is to tear up the Constitution, strip away their civil liberties, and overstep in a tone-deaf militaristic manner.
11/ If we wait 2,3,10 years for when this comes to a head, the avg person will have been lulled into the "but that could never happen here" fallacy.
