Quote from: squatter on July 19, 2019, 06:42:18 AM

Quote from: Wind_FURY on July 19, 2019, 05:35:34 AM

It's more serious this time. The state-level actors are learning that Bitcoin can separate money from state, and it's growing.

I believe the attack will be done politically, it will be regulatory, it might involve character-assasination of some of the Core developers/contributors, all of them together.

theymos articulated it better than anyone.

https://www.reddit.com/r/Bitcoin/comments/cedkch/rep_patrick_mchenry_theres_no_capacity_to_kill/eu1xn7f/

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In the US I think it's very likely that someday soon a little provision will be tucked into a must-pass bill at the last minute requiring reporting all BTC holdings via FBAR. After that, while there's currently no momentum whatsoever for it, it'd be a fairly simple matter to someday say "turn over your bitcoins, which we know you have, or go to jail" (or "we can prove you have bitcoins, but you didn't report it, so you go to jail").

Ah, the old FDR gold confiscation scenario. I've always thought that was a possibility -- how remote, I'm not sure.

At least we can take comfort in the fact that bitcoins are a lot easier to hide and transport than gold. We can always renounce our citizenship and leave.

But in theymos's scenario, almost useless. As he said, people who use it within the legal framework, which will be everyone who is not a criminal, will be using Bitcoin as something the same as fiat.

Then another debate, if they can "censor" it, what's the use of POW?