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misses out on the single biggest threat to BTC Western governments simply outlaw its use and ownership without the USD, there really isn't even a USA, Western

misses out on the single biggest threat to BTC Western governments simply outlaw its use and ownership without the USD, there really isn't even a USA, Western governments live and die by their fiat currencies outlawing it would not be that hard, confiscate all Coinbase assets would be an easy first step

latchkey 4y ago
The single biggest threat to BTC isn't that. It is tokenized BTC. As soon as enough people realize that there is a lot more utility to bitcoin, as a tokenized version, on other networks, they might stop using bitcoin itself. I did that years ago.
- ashwagary 4y ago
  >As soon as enough people realize that there is a lot more utility to bitcoin, as a tokenized version, on other networks, they might stop using bitcoin itself. That is extremely unlikely due to the introduction of counterparty risks that Bitcoin users are growing more careful to avoid.
  - latchkey 4y ago
    That is why people are working on that specific problem. Badger is one with ebtc. There is also going to be people who are comfortable with the risk/reward ratio.
TigerTeamX 4y ago
Outlawing Bitcoin assumes quite some things. 1. The governments are competent and could do outlaw it - The outlawing of guns, drugs, alcohol, tax evasion seems to have had the opposite effect. 2. For all of the flaws of western governments, they are still within some kinda laws. Coinbase is a public US based company. They are entangled with pension funds, hedge funds, rich people. I am sure they would fight against this 3. This also assumes people follow the law. In general, people follow the law but when they see their banks implode, prices going like crazy, they lose their job... Well then they might not. 4. This also assumes the current system could survive. If you look at the math you'll see that there are not enough currency to pay of the debt. It is increasingly more levered system that is breaking apart.

latchkey 4y ago

The single biggest threat to BTC isn't that. It is tokenized BTC. As soon as enough people realize that there is a lot more utility to bitcoin, as a tokenized version, on other networks, they might stop using bitcoin itself. I did that years ago.

ashwagary 4y ago
>As soon as enough people realize that there is a lot more utility to bitcoin, as a tokenized version, on other networks, they might stop using bitcoin itself. That is extremely unlikely due to the introduction of counterparty risks that Bitcoin users are growing more careful to avoid.
- latchkey 4y ago
  That is why people are working on that specific problem. Badger is one with ebtc. There is also going to be people who are comfortable with the risk/reward ratio.

TigerTeamX 4y ago

Outlawing Bitcoin assumes quite some things. 1. The governments are competent and could do outlaw it - The outlawing of guns, drugs, alcohol, tax evasion seems to have had the opposite effect. 2. For all of the flaws of western governments, they are still within some kinda laws. Coinbase is a public US based company. They are entangled with pension funds, hedge funds, rich people. I am sure they would fight against this 3. This also assumes people follow the law. In general, people follow the law but when they see their banks implode, prices going like crazy, they lose their job... Well then they might not. 4. This also assumes the current system could survive. If you look at the math you'll see that there are not enough currency to pay of the debt. It is increasingly more levered system that is breaking apart.