The EU regulations are bad as they are, please don't spread FUD by exaggerating. It clouds what is really happening and leads plebs and people to false conclusions and to unnecessary actions.
Discussion
I think it's part of a larger process where we have to come to terms with the fact everything worth doing will be illegal and that's ok
Even if thats the case, spreading panic is still not helpful. The regular half-informed normie sees that Bitcoiners are taking pride in being criminalized and has all his MSM planted prejudices verified. 12 words in your head are and not illegal
I think twelve words in your head will be illegal, unenforceable but still illegal. Self custody is the attack angle and people will need a strong mindset to continue to do it. I have given up on normies until I see more evidence from them.
If the regulators wouldn't know it is unenforceable, they would have banned it with these regulations. Instead, these new laws are the toughest they can actually enforce. Alreads at the cost of having created a one way street where regulated 'crypto assets' can only flow out, but never back in. It means these regulations don't stand on principles and are only a temporary measure.
They can't stop Bitcoin transactions and they know it. If they were to try, they fail and instead of regulating anything, they would have the given the best possible advertisement to Bitcoin and outlined their realm of power. Bitcoin is above and beyond their influence. The emperor has no cloths etc..
It's the 12 words line they can't cross.
I sincerely hope they do, though.
There is nothing more permanent than a temporary government act.
Have you read George Orwell?
Ignore them all, the harder they fight, the closer we are.
Love n hugs
Sure I have. Temporary in a sense that once the tank is empty, there's no current left to regulate. These regulations will change again but they have maxed out their power already. Simply adding more punishment isn't solving THEIR issue. 'What you gonna do, shoot me twice?'
Arguably this is already a step too far. It's likely that we'll start to see CASPs (as they called them in the regulations) closing the gates to self hosted wallets and their users. This will push those users into the grey/black market.
Once people start feeling the heat of what's queued on the pipeline (carbon credits linked CBDCs) there'll be a move for acquiring KYC-free coins to bypass the evergrowing economic control. That will lead to a two BTC system, similar to what happened in Argentina with the USD.
That's my hope anyway. I'd love to see a widespread parallel economy. All those economic transactions only growing distrust on the political system, all those uncollected taxes defunding the govs, them forced to print an ever increasing amount of money devaluing the currency against the street exchange rate while keeping an artificial "official" price, people seeing how street and official price keep depegging being more and more prone to opt out... It's the perfect feedback loop to end with their clownery while they try to retain power.
What bothers me most is that the first mention I saw in Nostr was reporting the facts correctly.
Then someone with the reading comprehension of a 3 yo made an article with the whole thing the other way around, that got screenshot, and suddenly Nostr got filled with people believing the EU has ban self custody 🤦♂️
Yes