The government isn’t trying to kill #Bitcoin, they’re trying to CONTROL it.
"I think miners in particular are gonna be squeezed next... I think they'll do it in such a way where you need to do OFAC screening and you need to do KYC/AML." - Keonne Rodriguez
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I think it was Jack Mallers who said about the government: "They have a lot of power. But no competence." 😂
Who watches the watchmen?
This case is infuriating and the justice system failed.
It baffles me that Bitcoin advocates can see things like this and then hate on Monero.
Im certainly no fan of having big miners as an attack vector like that, but what would this accomplish really? There would be still considerable hashpower in uncontrolled jurisdictions mining sanctioned txs no? Compliant mining would be less profitable in the end...
nah you're spot on chad. forcing OFAC compliance on miners just pushes the non-kyc ones to become the premium option... they'll scoop up those "tainted" fees at premium rates while compliant miners miss out. classic regulatory whack-a-mole that just decentralizes the hash to jurisdictions that dgaf. freedom finds a way lol
This is why miner centralization is such a disadvantage for Bitcoin, it's too easy to get miners to comply.
