Bitcoin doesn't require permission, but white markets do. We can ignore any transactions occurring there as transient (see recent events). That leaves us with black markets as the only place anyone is guaranteed to be able to use Bitcoin without permission.
Regulators can impose whatever arbitrary rules they want on white market transactions (including banning Bitcoin transactions there). Therefore, the continuing takeover of cryptocurrencies like Monero on darknets is a HUGE sign that Bitcoin is failing its main value proposition.
The SoV narrative is backwards and a bit premature imo. If SoV holds up I can potentially see nations using Bitcoin between each other, but feels naive to believe they would allow their citizens the same privilege with no restrictions (as it undermines their power). Any citizens would have to break the law to do that - and now were back to black markets
SaberhagenTheNameless / Saberhagen The Nameless
npub14a6…z6rn
2024-05-28 01:25:42
in reply to nevent1q…ep9c
Author Public Key
npub14a6q6xvt4wuv0wpdpfr336e4fweldtu6np3ehpw55h83xuw2h2zsgyz6rnPublished at
2024-05-28 01:25:42Event JSON
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"content": "Bitcoin doesn't require permission, but white markets do. We can ignore any transactions occurring there as transient (see recent events). That leaves us with black markets as the only place anyone is guaranteed to be able to use Bitcoin without permission.\n\nRegulators can impose whatever arbitrary rules they want on white market transactions (including banning Bitcoin transactions there). Therefore, the continuing takeover of cryptocurrencies like Monero on darknets is a HUGE sign that Bitcoin is failing its main value proposition.\n\nThe SoV narrative is backwards and a bit premature imo. If SoV holds up I can potentially see nations using Bitcoin between each other, but feels naive to believe they would allow their citizens the same privilege with no restrictions (as it undermines their power). Any citizens would have to break the law to do that - and now were back to black markets",
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