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I hear you and I agree. What I am saying is that it is not bitcoin that is regulated but the use of bitcoin on certain territory and that is a huge difference in my opinion.

The way CBDC will be regulated will be at protocol level. To some extend Fiat is also regulated on protocol level..cash allows for some privacy and that's why they fight it and will kill it.

As long as bitcoin itself stays decentralized and can't be regulated I think we will live long enough to get to jurisdictions that will be bitcoin oriented..probably not US.

I doubt the US dollar will be backed by Bitcoin. Fed won't allow this to happen and since it is the boss of American governments it does what suits it's criminal activity supported by Fiat.

It will be a bloody collision of Bitcoin and Fed/Central Banks. The exciting part is that they can't just shut it down..and if US won't start buying BTC as their Reserve then some else will.

StreetRacer 1y ago 💬 2

If miners are "incentivized" by govs to allow only KYCed transactions to be included in the blocks well, game over. I guess they are already doing it to some extent. Read about it in a related note. I will try and find it.

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Discussion

GLACA 1y ago

There will be new miners. China mines, Russia mines, Iran mines. Miners can migrate. In worst situation the network can fork..Decentralization of Bitcoin allows for this crazy game theory where no side will be willing to destroy it.

StreetRacer 1y ago 💬 3

Found it:

nostr:nevent1qqszwnjzsqprlw0vu0cnv35gpuqxxflkdc78v68c5kxl4vjg3mjkduspzemhxue69uhkzat5dqhxummnw3erztnrdakj7q3qe26dzyg9hp5lgzf9wrpph6ux3884yxmn55pd4rxzr5exne56fsysxpqqqqqqzyrftch

Well, I guess anyone involved in such dealings will be labeled "unlicensed money transmitters"

nostr:nevent1qqsfx2lpx6atyxt8ffwqcgdltj6sl7r0gqhva0a7fhgjsg5upurc2nspzemhxue69uhkzat5dqhxummnw3erztnrdakj7q3qde6l09erjl9r990q7n9ql0rwh8x8n059ht7a267n0q3qe28wua8qxpqqqqqqzte4fll

GLACA 1y ago

Yeah...again..by US.

StreetRacer 1y ago 💬 2

Yes, US and allies. I am sure there will be sanctions and criminalization with dealings with those countries you mentioned in thw future. Cold war 2.0 and all. And this is one of the few things that really worries me about BTC's future.

GLACA 1y ago

It has to go through this phase. This was to be expected and known to designers for sure. We will seek friendly jurisdictions. I believe btc will prevail.

StreetRacer 1y ago 💬 1

I sincerely hope so. But hey, if I am not able to transact, because of these mother fuckers, maybe my offspring will be.

GLACA 1y ago

This is the way.

GLACA 1y ago

Thx!