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Replying to Avatar Olivier Roland

The risk of domestication of #Bitcoin

"If you can't beat them, join them"

If Bitcoin becomes part of the U.S. Strategic Reserve, this will give the U.S. government very powerful leverage over Bitcoin's future.

I see several risky scenarios with this.

For example, the government or the Senate could decide that Bitcoin must integrate KYC natively for it to be used legally by the US state, US financial institutions, businesses and individuals.

They could pay developers to create a fork, and force all these American people and entities to use it.

The rest of the community will then have to choose:

- Stay with the original version of Bitcoin, which will NOT be used by the U.S. government, ETFs, #Microstrategy, etc.

- Or use the version that all these American entities will use.

The problem is that it's the version used by US entities that should have the highest price per Bitcoin, creating an incentive for all other users to use the new fork.

What's your opinion on this scenario and the risk it represents?

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MAHDOOD 1y ago

This scenario is exactly what I expect to happen but I don’t think the free market will choose the KYC bitcoin. If this was actually a threat, then Bitcoin will never succeed. But you don’t have to agree with me. You can just hold the original Bitcoin and the KYC bitcoin after the fork then wait and see what happens with the price.

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