RE: Did Nick Szabo solve Nick Szabo's biggest bit gold problem?

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Did Nick Szabo solve Nick Szabo's biggest bit gold problem?

in bitcoin •  2 years ago 

The government is fungible, they will act in their own best interests always (which means their campaign-donors' interests). So expect them to rule bitcoin as they see fit, which means eventually bitcoin will be outlawed if it becomes too powerful.

So much for escaping Western Union fees; back then, yes, but now it's like $50 to send a dollar.

Our guess is the crypto-run is nearing its conclusion, so tread carefully!

Would happily watch that movie, bring it on.

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RE your remark: “ … nearing its conclusion”, two points please.
Keep in your head the new rules that every transaction is a taxable event (I exaggerate but not by much), the forthcoming requirement that if you own as much as 1 bitcoin (or any cryptos valued at 10K+) you must report that “at the border”, and then revisit this video: .
What you see is incarceration for doing unregistered money trading when what the person was trading was officially declared to be not money.
It looks as if the Emperor has decided that I will be “death by 1000 small cuts”, instead of by a declared “exile to outer Siberia”, China having chosen the latter route.
So, your warning about “treading carefully” is 100% solid, in my view. It reinforces my decision to totally write off as a 100% financial loss the few dollars I have in cryptos. (Notice the word “financial”. There’s absolutely no learning or experience or networking loss here! It is a sure thing, I think, that the countries going this route are going to end up behind the technology eight-ball in due course. That is, unless we haven’t been all sent to the Great Beyond in the coming war.)
Second point, and more troubling. No matter who invented the block chain technology (and the linked applications of cryptography), its capture by The Powers will tighten our collective slavery big time. So I say that if God allows us to enjoy a few minutes each day, let’s go at it as much as feasible because “our days are numbered”.