If the tradeoffs are removing the core values like self custody, it is the question if "this version of Bitcoin" delivers any meaningful change for normal people (who did not buy early).
The store of value argument is not taking into account that a sudden loss of privacy, eg. KYC data leaking from a big exchange makes everyone a target immediately.
Do you want a store of value where everyone in the world knows what you have and where you live?
The other thing is fungibility. Tainted coins are already a thing, AML Bot and Chainanalysis tools are used by exchanges and merchants already.
I had a case where BTC was rejected because "it was used for gambling 5 hops ago".
It was not me - but i know who used it for that. It was completely legal gambling. But still i could not use the BTC for what i wanted.
The non-fungibility will lead to the P2P situation that we will check each others BTC with tools like AML Bot to make sure we do not get tainted coins which are worth less or in the worst case have law enforcement blaming us for something the previous owner of the BTC did.
I do not see how this will end well. There is also a talk from Adam Back about that - but somehow this is being ignored even if it is pretty obvious.
How do you see those two points?
The store of value argument is not taking into account that a sudden loss of privacy, eg. KYC data leaking from a big exchange makes everyone a target immediately.
Do you want a store of value where everyone in the world knows what you have and where you live?
The other thing is fungibility. Tainted coins are already a thing, AML Bot and Chainanalysis tools are used by exchanges and merchants already.
I had a case where BTC was rejected because "it was used for gambling 5 hops ago".
It was not me - but i know who used it for that. It was completely legal gambling. But still i could not use the BTC for what i wanted.
The non-fungibility will lead to the P2P situation that we will check each others BTC with tools like AML Bot to make sure we do not get tainted coins which are worth less or in the worst case have law enforcement blaming us for something the previous owner of the BTC did.
I do not see how this will end well. There is also a talk from Adam Back about that - but somehow this is being ignored even if it is pretty obvious.
How do you see those two points?
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