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It’s almost unfathomable to me to that the a significant proportion of bitcoin holders would comply with unrealized gains. It would be practically impossible to enforce that on self custodied bitcoin.

Sovereign Being 4mo ago

Yeah, I think that's why they have their plans and roll them out in stages. First, we ban non-custodial wallets. Get all their MSM mouthpieces spewing how these are a 'danger to democracy' and this will 'protect the kids'.

The reality is, if many countries coordinate such an effort, unless you literally want an asset that you can't move or else, you will have to comply to make it usable. After 15 years, one would have thought there would be bustling marketplaces with no oversight by now... but if anything, it's other chains like XMR that have these rather than Bitcoin.

Still, I'm building for both and will let the smarter people figure it out.

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Discussion

Foxfire Mushrooms 4mo ago

It’s not like it’s gonna be pretty, but I think probably that for every big powerful country that starts to oppress that hard, there will be several smaller countries looking to attract all that capital flight. People holding most of their wealth in bitcoin will actually have the capability of leaving. I realize this doesn’t help the majority of the population but what are ya gonna do

Sovereign Being 4mo ago

And in a sense, we'd be back to square one.

Funny, of those who have created insane amounts of wealth from being early, very few have used that to kickstart a bigger plan for adoption.