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The problem isn't with US banks but central banks, and it isn't with concentration of wealth but confiscation of wealth through money printing We very well mig
by silentsea90 6y ago
The problem isn't with US banks but central banks, and it isn't with concentration of wealth but confiscation of wealth through money printing
We very well might have Coinbase, BlockFi etc. act as crypto banks, and BTC whales as the new rich. That's reward for their work and belief. What do you think is the threat vector from BTC miners? The protocol nullifies such threats.
What would be bad is if a central authority could confiscate your work output at its leisure. That's the real battle here
- terse_malvolio 6y agoCoinbase is not decoupled from government
- silentsea90 6y agoIt certainly isn't. Hence, we will continue to have taxes and regulation. However, the BTC mantra is "not your keys not your coin". So if you leave it on Coinbase, you are welcoming attack by nation states to confiscate your cryptocurrency. This isn't an imagined threat. The confiscation of gold by FDR was a very real event that forced citizens to sell gold to the Government at a fixed price (of USD that the state printed at a whim) https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102