Oddbean new post about login | logout Meaning? 🤔
I'm struggling to understand, too. If it is outlawed under pretence of fighting trafficking, then govs can use it, but the people can't. But I'm not sure that is called political non-neutrality, it is just a double standard.
Governments can write laws that make bitcoin illegal, but the people can still use it.
How could we use it if it were outlawed? What would we be using it for and how?
Bitcoin still works even if it's illegal. You can still use it p2p. This is happening right now in many countries. Bitcoin doesn't care about borders or laws.
It is practically useless and not a threat, so they seem to be fine with it. Banks have taken over and milking it as a cash cow. It will keep pumping and dumping. Hypothetically, if govs wanted they could coordinate to clamp down on data centers. Also, bitcoin is bad for use if outlawed, as it is traceable. There is no adoption today and it would be even worse if made illegal, you would need monero, dirty cash and otc deals as no on/off ramps would exist.
Tracing doesn't work if it's illegal in the first place.
It's anti-authoritarian.