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> Here is the most obvious one - true sovereignty over your capital. When you have bitcoin, you have have physical ownership of a digitally transferable asset.
by nmfisher 6y ago
> Here is the most obvious one - true sovereignty over your capital. When you have bitcoin, you have have physical ownership of a digitally transferable asset. Not legal ownership where a custodian ultimately decides whether you can access it.
This isn't really true though. At the end of the day, you're always subject to the powers that be who will come knocking on your door with guns if you stop paying your taxes. If they criminalize BTC, stick you in jail, it won't really matter that you have "physical ownership of a digitally transferable asset". Ultimately there's always a custodian who decides whether you can access it.
It might currently have some small benefits over traditional currency (in terms of not needing to operate via the banking system) but that doesn't mean it's somehow outside the boundaries of traditional society.