Obviously I think transactional privacy is legit, but governments don't. FYI, why Lightning usage is generally banned in China as well.
Discussion
So the solution is to comply ones way out of tyranny on a transparent ledger?
The solution is to build open standards and networks resilient to all threat models. Monero is not resilient to nation-state level scrutiny, whereas Bitcoin is - and I can point to this simply because Chinese state authorities (including at the time, Vice-Premier Liu He) tried banning Bitcoin left and right but probably has no idea what Monero is.
Nostr hosts a lot of Chinese cypherpunks. None of them ever really post about Monero.
I dont get the logic, what in this example shows Bitcoin is resilient to nation state attacks?
They do not even need to attack it. They just integrate the public ledger, attach digital ID to it and outlaw all transactions from/with non digital ID utxo's.
It's not possible to be resilient to all threat models.
I don't even think China banned Bitcoin mining. They banned mining Bitcoin using the electric grid/fossil fuels iirc and only in a particular region.
Only a few manufacturers make most of Bitcoin newest most powerful ASICs and they are all from China. How is that not vulnerable to state attack?
-Over half Bitcoins hashpower is KYC
-It's obvious what you're doing with that ASIC
-Open to targeted mining censorship
Also, these give off a very obvious fingerprint (energy draw, heat, noise)
"Police raid a concealed #Bitcoin mining operation, initially mistaking it for an illegal marijuana farm due to the heat signature"
https://twitter.com/BitcoinNewsCom/status/1721359382745874489
China's State Council (under Liu He) pronounced Bitcoin mining as undesired, and the provinces started banning and kicking out Bitcoin miners. However, ever since then, people sell miners in Mainland and etc.