Subnostr

If the state adopts Bitcoin they are not going to allow the people to use it directly, they will at best have a custodial app that is required to use it which is no better than a CBDC.

OceanSlim 2y ago

Yes, the state can spend their Bitcoin on whatever they see for. Why would they allow people to use their Bitcoin? It's their Bitcoin. Also, that's not the case for El Salvador at all. They actually did distribute BTC to Chivo wallet users. Regardless, that doesn't stop the people from using custodial Bitcoin. It just means they state also has their own. And when the state spends it, it goes to someone else pockets rather than the state printing up money to spend.

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Discussion

LibertyImp 2y ago

I just don't think it's a good idea to be cheering states on while they look for ways to break and manipulate Bitcoin. They wouldn't even be considering it if they didn't think it would give them more control. That's what I'm worried about.

OceanSlim 2y ago

They can't break or manipulate it. So if that's their intent, they can get rekt. Bitcoin doesn't GAF.

LibertyImp 2y ago

If you say so, I don't have your optimism though.

OceanSlim 2y ago

Bitcoin is inevitable imo, protect yourself (self custody) and you'll be alright.

Caleb ☧ 2y ago

I just got myself a Trezor the other week.

Finally went cold storage.

Better late than never.

SMS 2y ago

😚