While some in the Bitcoin community are celebrating this Act as a victory for the industry and as a good thing for Bitcoin, it seems many have forgotten why Bitcoin exists in the first place. This level of myopia and selective amnesia is shocking but not at all surprising. Fiat isn't just a payment system but it's also a cancerous mindset that afflicts many. What they aren’t grasping is that this Act’s main purpose is regulatory capture not “modernization of payment systems.” Secondly it forces every digital dollar to flow through state-controlled gatekeepers who would enforce OFAC sanctions and blacklist wallet addresses at the behest of the state.

Loading preview...

nostr:naddr1qqthg6r994nk2mnfw4ej6arjda4xzm3ddphhyum9qgs9gcysfq5y62s4rjxlvf05psuf6s376ptlemuj0kugj4kj3c3t5qcrqsqqqa288k8pr9

Kind: 30023