> Yaaay. More regulation. I'm so sick of governments regulating what's not theirs to begin with.
> The older I get, the more libertarian I get. Or anarchist. I don't know yet.
Probably Anarchist if you really feel that way.
And while I tend to agree, the truth is that regulation itself isn't bad at this phase, you can still use Bitcoin (and I presume other alts) as it was intended to be used: decentralized and p2p.
It requires a bit of legwork on your end: use things like BISQ or buy locally at a meetup or ideally earn it for goods/services. In which case you are free to use it on the network as you please. Selling it for fiat is the issue, but that is why growing this ecosystem to be a closed loop system matters more than ideological zealotry. And for that some concessions are necessary, regardless of how I may personally feel.
I obviously have mixed feelings about this of course, I'm an AnCap with environmental leanings, and the truth is we need it be regulated if it is to continue to offset the energy sector in a meaningful way and reduced the impact that fiat has on the Environment.
We already reached the tech savvy demographic and trailblazers, around 2015-2017 in my opinion, all that are left is the uninitiated who will not get involved until there are clear paths for them to have it on their balance sheets like Tesla/SpaceX/Microstrategy do which is probably the next wave of adoption.
Once that occurs, we can begin to see platforms offer seamless platforms to utilize fiat and BTC/crypto options, obviously they will all be monitored and taxed, but that is the tradeoff about critical mass.
I drank the purist Kool-aid about Hyperbitcoinization ushering the great reset and disruption for most of my time in this space, but to be honest given how the International financial system is fraying at the seams and inflation keeps increasing and we have continued shortages making supply chains strain beyond their capacity. I'd rather compromise on some aspects in order to avoid what could be a total cataclysmic event and all the needless Human suffering and death after COVID and the Russian invasion of Ukraine.
The transition is what matters, I'd argue Central Bank Digital Currency are an inferior system and will be a at best a secondary or even tertiary aspect of the Global Digital Economy if only based on merit.
My fear isn't with what this tech can endure anymore, it is what Human behaviour can tolerate under worsening conditions and no viable path to pursue.
Want proof? Look at China who banned Bitcoin but mining still continues and their are still 90 something full nodes securing the Network.