Oddbean new post about login | logout It still surprises me to see anyone surprised when the State tries cracking down on Bitcoin being used privately. It’s slightly surprising that Bitcoin isn’t banned yet.
Every country that bans it will see a brain drain, a loss of tax base, and find themselves begging for scraps of innovation from the tables of their former colonies. It’s happened before. It’ll happen again.
Plus, the US gov tries to keep a veneer of non-tyrannical appearance by not explicitly banning things. Instead they impose onerous regulations to the point of a practical ban but where they can say “not banned, just have to follow the common sense regs!”