So to be honest, I think I agree with what you’re saying here and it’s what I kind of expect. Primarily/at least in the United States. But that doesn’t change Bitcoin’s properties and differen...
I mean controlled in the sense use-cases will follow how the big players decide it should be available to people.
I'm aware some maxis will argue Bitcoin is "still working as designed" even when you need to pay a North Korean miner 15% and wait two days to get your transaction mined.
It will just get to the point where if you need to transition to fiat, your exchange will need proof of funds and it will be a big hassle.
Ie, friction on the on/off ramps will constrict sovereign usage to the point of being economically negligible.
But sure, maybe the purchasing power of the kyced surveilled utxos goes up. Then early adopters like Saylor etc can muscle their way into the club, set up banks and start doing fractional lending on Bitcoin. Which is obviously the play.
You and I will have nonkyced, self custodies utxos we can use to buy soap
Or we can send them to an exchange to use inside their walled garden for a 40% tax penalty.
Seems like the obvious, most likely outcome, so when I see people say "this was always the plan" or whatever I wonder if I'm seeing the same thing as other people.
I'm aware some maxis will argue Bitcoin is "still working as designed" even when you need to pay a North Korean miner 15% and wait two days to get your transaction mined.
It will just get to the point where if you need to transition to fiat, your exchange will need proof of funds and it will be a big hassle.
Ie, friction on the on/off ramps will constrict sovereign usage to the point of being economically negligible.
But sure, maybe the purchasing power of the kyced surveilled utxos goes up. Then early adopters like Saylor etc can muscle their way into the club, set up banks and start doing fractional lending on Bitcoin. Which is obviously the play.
You and I will have nonkyced, self custodies utxos we can use to buy soap
Or we can send them to an exchange to use inside their walled garden for a 40% tax penalty.
Seems like the obvious, most likely outcome, so when I see people say "this was always the plan" or whatever I wonder if I'm seeing the same thing as other people.
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