I agree regarding it being both Strike or any intermediary including the custodian.

Yes the timing is tricky. We are acting as if it is imminent. But praying we’ve got a couple of years to unwind some stuff.

I wouldn’t let it stop you from living your life but I would be careful about how much you put up. If it is a small percentage of your overall stack then maybe…

I can’t help but wonder if all the ETFs, corporate and govt treasury BTC reserves etc have been allowed to happen to ensure a decent sized chunk of corn gets caught up in the tradfi blow up. If all the legal framework was in place by the end of 2023, the very sudden regulatory backflip and subsequent ETF approval might have been the last domino in place.

Imagine if we had gone into another “Great Depression” with BTC completely outside of the existing system. The protected class would still have collected heavily on all tradfi assets but they would have been completely without BTC which would have allowed BTC to stand up as a completely neutral form of money without counterparty risk.

Now, with say 10-20% completely captured within the system it is certainly enough for them to price manipulate it through a crisis and make it difficult to transact with in any meaningful market/value discovery kind of way.

Maybe gold for the short term and BTC for the other side???

Reading the Benjamin Roth’s diary provides lots of insights as to how bad things can get. He talks about realestste loosing 90% of its value and people who owned realestate outright demolishing buildings, including hotels so as not to have to pay property tax, which they were unable to pay because all the banks closed and thus their ‘passbook money’ was frozen. Back then tax was charged on the improvements (buildings) not the land. They couldn’t pay the taxes as nobody paid any rent. Nobody could not pay rent as there wasn’t even enough money for food. Over 30% of the people in his town were lining up for charity food. Those that were ‘employed’ in their own business, doctors, lawyers, shop keepers, tradespeople had virtually no customers. Often their few customers had no money to pay so a barter might be struck. It was nuts how low values dropped so BTC would be difficult if tradfi markets were dictating price. Could have value in a close knit circular economy (think Galt’s gulch) were a small productive community self sustaining could set prices amongst themselves.