Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by miracle2k on Tuesday January 10, 2023 @07:11AM (#34323601)

The government can also make the use of cash illegal. They can also put a huge dent into encrypted messaging by sending anyone caught using straight to the electric chair. They can drag you out of your home at night. (So can your neighbour for that matter).

The argument was never that crypto is some kind of magic shield against bullets. It's simply a tool. It raises the cost of certain kinds of abuses for the state. In the balance between the individual and the state, it shifts the power, ever so slightly, to the former.

[ Parent | on HN ]

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by mrtksn on Tuesday January 10, 2023 @07:17AM (#34323650)

In that regard, crypto is like hard to use easy to lose cash.

Cash, unlike crypto, is hard to trace. The best can do is to use chemical markers.

Government making cash illegal doesn’t mean much as it is pure p2p with no integrated bookkeeping or remote sensing.

[ Parent | on HN ]