People can still use Bitcoin in a self-sovereign self-custody way even with NGU. All the institutional crap doesn’t change the base layer and the ability to do that
You are aware that if they manage to funnel most of the hash power into a few regulated businesses, this businesses get regulated to censor all transactions are unwanted. And if at some point self-custody gets basically outlawed and those miners are only allowed to mine blocks with white-listed coins, then this 'Institutional crap' DOES affect the base layer.
Oh and if the miners only mine blocks onto a clean chain, then people with non-kyced coins are fucked.
For this to work they only need to regulate a bit over 50% of hashing power, which basically is already were we're at (we just not have those strict rules, yet).
Oh and if the miners only mine blocks onto a clean chain, then people with non-kyced coins are fucked.
For this to work they only need to regulate a bit over 50% of hashing power, which basically is already were we're at (we just not have those strict rules, yet).
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