That’s a truth that must be delivered… just as the one that says that majority of people will never run their own Bitcoin node, that KYCed sats are is being eaten by new “banks” and taxed by govts, and pure “private” Bitcoin slowly becoming outlawed or useless in the real world. Hard truths… self-custody (of online identities and KYCed sats still have a chance and would still be great improvements).
Discussion
please tell me exactly how private Bitcoin can be EFFECTIVELY outlawed and being rendered useless?
You might need help from China on this one lol
Private bitcoin becomes useless if outlawed (assuming most people do not want to live in a sort of Christiania). To outlaw private bitcoin you just need a law in your jurisdiction. Then you will have to decide to KYC and live in society (and pay whatever taxes your are forced to pay) or become at outlaw and take your private bitcoins to your bitcoin island. The fact that gov can’t ban bitcoin technically does not mean at all it cannot make it useless taxing the hell out of most people (just as an example) At least for the 90% of people that do not appreciate having to become a pariah to buy a beer with private BTC.