you get from Bitcoin to fedcoin by tightening the on/off ramps, having large investments in Bitcoin mining and pushing newcoiners into paper Bitcoin.

true p2p txs become unreasonable for normies due to the friction, sovereign use becomes economically insignificant and surveillance becomes normalized.

self custody of GTFO.

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Discussion

I agree with what you're saying here. If it's all kyc, permissioned bitcoin with zero privacy, bitcoin has failed at its objective

the playbook is established and well-understood.

What is bitcoin’s objective?

Store of value.

And unstoppable medium of exchange. It seems many have missed the plot.

😬

dude...

well, we would have failed

yeah, its hard to say a decentralized ledger has failed or succeeded 🤔