ETFs/Coinbase and Microstrategy at the present time.
I see how our enhanced abilities to coordinate these days help much in the scenario where a government decides to go after these large blocks of UTXOs controlled by a handful of entities.
Discussion
*don’t see
Why would a single government seizing large holdings, eg. Strategy, have significant effect on the network?
If they sell, past larger sell events, the German impoundment, MtGox reparations, affected exchange rates pretty temporarily.
I don’t necessarily disagree. Lyn didn’t say exactly what Napier thinks govt would do so I’m guessing what I think is the most common claim: they co-opt a few entities that control a large (and growing) portion of the UTXO set and either outright seize it, or do something else like a forced fork onto “gov chain”.
Maybe that’s not the angle. But if it is, how does the likes of Nostr combat it effectively?
And if it’s not the govt angle, what would it be?
Whoever owns which coin amounts, the network seems to perform the same.
Controlling hash rate and having social influence, the block size wars and main copyright trial also passed harmlessly.
What if someone can attack basic internet connectivity, can Nostr and BECH32 more securely supplant TCP IP?