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My argument is, if we wave a magic wand and suddenly all transactions are now in Bitcoin (or Ethereum or whatever) instead of dollars, without changing our cult

My argument is, if we wave a magic wand and suddenly all transactions are now in Bitcoin (or Ethereum or whatever) instead of dollars, without changing our culture, rights, and everything else, why would we not end up in the current system of guardrails, block lists, proscribed organizations and individuals? Without a legal right to private digital transactions why would the mass adoption of Bitcoin make that a reality and the system not just be rebuilt in a few years? And if we had a legal right to private digital transactions, why would Bitcoin even be used for everyday transactions if dollars are good enough?

lyu07282 3y ago
Well I was just commenting on the technical side of things. I would assume that the people who advocate / invented Bitcoin believe that the monetary system with those regulations is corrupt/repressive/broken. The point of Bitcoin is a technical workaround of these issues they see. If those issues didn't exist there would be no reason for Bitcoin to exist. The point isn't to fix the system, its to figure out a way around the system. To make the regulation of Bitcoin/etc. a technical impossibility. So even if you don't have a right to private digital transactions it doesn't matter. Right now, you don't need a bank to transfer bitcoin to/from dollars, there exist already countless ways around it. Thats all to say if you believe in unregulated capitalism and not that there are very good reasons for a lot of the regulations, and even the parts that are corrupt or broken should not lead you to advocate for no regulations at all, which would effectively end up in a Mad Max dystopia.