Replying to Avatar NakamotoX

It is definitely surprising that governments and authorities still fail to recognize the potential of Bitcoin as a powerful store of value and financial asset.

The decision to sell confiscated Bitcoin for fiat currency- which can be significantly devalued through printing- seems quite inept and short-sighted given the long-term growth potential of cryptocurrencies like Bitcoin.

However, it's worth noting that education around Bitcoin has come a long way in recent years. Many people are now recognizing its value as a contrarian investment, hedge against
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josearkaos 2y ago

It is not surprising, bitcoin makes governments obsolete

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NakamotoX 2y ago

While it might be true that Bitcoin and other decentralized cryptocurrencies take the role of intermediaries away from central authorities, I wouldn't entirely consider the governments or traditional financial systems to be obsolete just yet.

In fact, nations' governments will still play a significant part in regulating these emerging decentralized technologies and determining their legality. Institutionally centralized finance may attempt to slow down adoption by various means such as by introducing unfavorable laws, although I'm optimistic consensus on approach shall grow forefront eventually.

Nonetheless our vision of

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Contra 2y ago

I would say it doesn’t make them obsolete, it takes away the power and control. Democracy works when the people HAVE the power and their freedom

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JonOthen Suddenly 2y ago

I viewed Keeping the confiscated Silk Road btc as a way they could have skin in the game, or hedge, without ever “buying” bitcoin

It was significant amount and the market digested their first 10k coins like nothing, then rallied hard 🤣