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Genuine, non-hater discussion topic incoming.

Bitcoiners like to say that Bitcoin is fully uncensorable, that governments can't fully take it down. The problem I see is that even though the *technology* can't be taken down, the means by which people can enter into using said technology can easily be cut off, and not just via KYC. While there's still the peer-to-peer aspect, that also could easily be targeted through surveillance, and unless people start to become fully anonymous (not realistic for most), that's not something you can stop.

On top of that fact, there's a lot of KYCed Bitcoin out there, and the problem with that is that if it's KYCed, it makes it pretty trivial for governments to surveil wallet addresses and transactions.

In this way, wouldn't it be wiser to use a privacy coin if you're okay with KYC? Also, if the legal system ever decides to make it virtually impossible to obtain Bitcoin and you're going to go the route of "privately" obtaining it, then you're not going to get very far if they can surveil all of that information.

To reiterate, I'm not a hater, not by a long shot. Aside from my personal issues with KYC keeping me from buying, I believe in the technology, and I think it's got some serious potential to be the basis for economic change. I'm also not specifically a Monero guy, even though I think that it has some MAJOR benefits. But the problem with Bitcoin's lack of privacy, as well as the fact that KYC is virtually unavoidable, make it hard for me to believe in the maxi opinion that Bitcoin is completely unstoppable. Again, I do agree that the technology itself can't be shut down, but if you can't legally obtain it and you can't truly obtain it privately, then I don't see how it's unstoppable.

Just some thoughts I had. I'm genuinely curious what some of you guys think about this subject.

#asknostr #Bitcoin #privacy #Monero

Big Barry Bitcoin 1y ago

This is why a lot of people into bitcoin are accellerationists. People don't change en mass unless shit hits the fan hard first. We need to get worse than China to see a real breakout.

That said, we can just focus on ourselves and our loved ones and build our own communities to ensure that we can always survive.

Like bitcoin markets popping up in different locations, meetups where we can all trade with one another with relative safety.

Learning where we can go abroad to withdraw fiat converted from bitcoin in the cheapest way possible.

Understanding coin joins.

Taking risks with throwaway accounts and learning what you can and cannot get away with when dealing with banks.

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Discussion

Jacob | Five Eye Tea 1y ago

Sounds like it'd work out for people who are willing to go to extremes but what about the average person?

Big Barry Bitcoin 1y ago

They will stand on the shoulders of giants, but only when their ego allows them to. Privacy and self custody tools will improve in the meantime.

Eventually, the alternative will be more inconvenient. Not today, but in the future:

- Bitcoin will be necessary because it is the only way to keep up with your neighbour.

- Governments will overreach and declaring everything will cost you dearly while no one else does it.

- The effort to protect your bitcoin activity will be less than the consequences for not doing it.

Jacob | Five Eye Tea 1y ago

If a person has to risk jailtime or their lives, they won't use it unless they're a radical with nobody that depends on them. That's my concern with the concept. Hopefully it will never get to that point but I'm just speaking in theoreticals here.

Big Barry Bitcoin 1y ago

But many still do, a very good example is the prohibition where many just went underground.

Never 100% adoption until the alternative collapses or the government consedes and capitulates.