Replying to Avatar Hanshan

if one must sell the Bitcoin to an regulated exchange to pay my fiat bills, one might care.

it's easy to see how the network could bifurcate into KYCed and non.

I personally do not care because I do not interact with the regulated entities.
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gsovereignty 4d ago

So it’s a hypothetical problem for other people rather than a problem you have experienced yourself.

The network has already bifurcated, the KYC “fork” is permissioned and negates the entire value proposition of Bitcoin. The market will eventually price coins on this fork accordingly.

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Hanshan 4d ago

point taken. but really, how hypothetical is it?

it remains to be seen which "fork" the market considers valid.

and so far all the friction and difficulty for market participants is on the nonKYC fork.

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gsovereignty 4d ago

I don't disagree, but the core problem is that bitcoin is a nation dependent on imports and has no exports, so offramps are more valuable than the actual asset because without offramps you can't pay for imports from the fiat dominion.

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Hanshan 4d ago

💯