Post
Topic
Board Bitcoin Discussion
Re: What Inspired Me To Invest In Bitcoin.
by
Learn Bitcoin
on 02/10/2023, 13:16:37 UTC
Governments will always seek control, this will especially apply to Bitcoin due to its decentralized nature. Of course, they will try to convince that banks are the best place to store bitcoins, thereby taking control of it.

This is going to be Bitcoiner's 2nd mistake. The first mistake they made was trusting exchanges with their Bitcoin. Bitcoiners are supposed to use exchanges to exchange the coins, and their balance is supposed to remain after the end of the transaction. People started using exchanges as wallets and kept their BTC there even after the end of the trades.

At first, the exchanges weren't collecting users' private data. Slowly, they started asking for private information, and people didn't think twice because exchanges started offering bonuses for their KYC.

Now, if people start using banks for their crypto transactions widely (People already using banks), this is a success for them and a failure of Satoshi's goal.