techfeudalist on Nostr: ✅ ban external transfers to unregistered wallets… ...

✅ ban external transfers to unregistered wallets…

https://twitter.com/EconWithNick/status/1684244362190893077#m

quoting note10gg…30ps

Personally I see this as ignorance and strategic missteps, like China banning mining. Self inflicted wounds.

If I were fighting bitcoin in the US, I would mandate every bank offer a “bitcoin” account. Then, when most of bitcoin is inside, I would ban external transfers to unregistered wallets. Then I would require all bitcoin be transferred to a registered custodian on with major penalties for noncompliance. Then I would ban receipt of unregistered bitcoin. Then I would sell paper bitcoin to manipulate the price to take peoples bitcoin or ensure that they don’t care about it. Like they did with gold.

To destroy bitcoin, I would take away everything that make it good. I would use people’s preference for convenience to take away their freedom. Bitcoin would become the CBDC.