Nostr Web Client

Let me be clearer.

I think they are going to say : all blocks mined in the US MUST build on an OFAC AML KYC compliant chain. No mixing allowed, no anonymous txs allowed.

That's a de-facto fork.

Then BlackRock uses that fork. Coinbase too (by extension). And then they say : exchanges that deal in something else than our fork are dealing in shitcoins and that's not allowed.

So to transact with these entities, you must use a KYC/AML enabled wallet.

That's the attack I envision. The bill is a clue in that direction.

macrominutes 2y ago

I wouldn’t be surprised if they tried something like this but the only way for it to work long term would be for them to have a majority of global trading volume, a majority of nodes, and a majority of miners all on their side.

I don’t think they have anywhere close to that nor do I think they will be able to amass it even with all of the wealth they manage. It flys in the face of why bitcoin has any value in the first place so ultimately I think it will fail and the people that buy into their scams will get hurt in the process 🤷‍♂️.

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