"Every time theres a potential hurdle on the road to Bitcoin adoption, its not Bitcoin thats the problem. Its the arbitrary and cumbersome regulations of the legacy banking system, and the stranglehold that State has on the dollar.
The more they try to strangle bitcoin-dollar transactions they will only succeed in strangling ALL dollar transactions ... they are making their own currency worth less by restricting its ability to be transacted and therefore useful. It is the same with the cash threshold restrictions, they are restricting the flow of their own currency and thus it market value. The dollar is in competition with bitcoin (and other currencies) so placing capital controls on dollars inside the dollar system to restrict bitcoin usage is pointless and actually counter-productive for the dollar itself. With every capital control, cash restriction, AML/KYC regulation or other restriction on dollar transfers implemented inside the dollar payments system the bitcoin becomes more valuable because it has none of these impediments to transaction within the bitcoin system.
If the dollar (or any other currency) wants to compete they need to actually remove restrictions, free-up and modernise trade in dollars to an equivalent standard as bitcoin ... or ultimately they will be obsoleted. It is the most simple of free market economics applied to currencies.
Edit: I think the appropriate phrase goes something like " ... the bitcoin is our currency, but it is your problem ..."
I remember reading something back in 2010 that was about freedom of information and its ties to negative pressures and transformative technologies. I believe it was the early documents of Julian Assange about trying to suppress information. I fully believe that while they may have placed a temporary lid on ties to secret government information dissemination, the private sectors of banking and financial institutes are engulfed in a maelstrom of self-doubt and cannibalism. We may have Bitcoin as a bulwark and standard, but it is not through defiance as much as reflection that terrifies opponents.
Nice find M'o'A.