nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe

The path of least resistance for bitcoin might well be a total ban so that a black market with circular economies can quickly develop. The reason is that the adoption of bitcoin is not simply a function of its technological superiority as money. Adoption is a function of how easy it is for the masses to get bitcoin. And Fincen reg is only the first obstacle. Just wait until a disproportionate taxation is introduced globally via the OECD, just like they did with the CRS for bank accounts offshore. Now that will discourage adoption.

https://andreleblanc.substack.com/p/will-bitcoin-win-and-foster-a-new-a13

On the other topic that non-bitcoiners will be always better off with falling prices in a bitcoin economy rather than with inflation (and loss of purchasing power) in a fiat system that subsidizes them, well good luck explaining that to the masses. That's all good for us, but think for instance of Argentinian people who were still willing to vote for the very same corrupt politicians because they promised them some sort of subsidy. It took 40 years of hyperinflation to finally change their mind with the last elections.

Another critical point is bitcoin's limited fungibility. This is an issue to be addressed by developers because, as the Fincen Reg shows, this is a weakness they will attack. Can we have a default mixing for every UTXO at protocol level or at least in a coordinated manner in every wallet like Wasabi?