Oddbean new post about login | logout The government could ban exchanges No exchanges makes it useless for most
Okay 👍 So, basically make it impossible to trade crypto for fiat?
So is monero banned? The availability of monero in exchanges in very limited. I guess it depends on your definition of banned.
Still available on Kraken and a few others But there are many options to buy, swap, and sell it https://pb.envs.net/?fddbb02f3599dc10#5o6C51E4iNNQC5APBegEsMRTcDsNcHUFZXEMz6RNbUhq
Yes or somehow block transactions with bitcoin nodes on the internet somehow
This is crap. Only ordinary citizens will be affected. Criminals will operate out of crypto havens like El Salvador 😖
Banning exchanges could be accomplished. Most would see it as a nuclear option though. It seems more probable that some form of key registration will be used to control the currency flow.
So, KYC of your key
But couldn't you use VPN to bypass this if you had your own node
It's literally one extra step. That's the worst they can do. Instead of: Exchange <-> XMR It's now: Exchange <-> LTC, DOGE, BCH (or your crypto of choice) <-> XMR You can also get get cash, or digital fiat, for XMR directly with crytpo ATMs and things like LocalMonero and Haveno(soon) https://pb.envs.net/?fddbb02f3599dc10#5o6C51E4iNNQC5APBegEsMRTcDsNcHUFZXEMz6RNbUhq https://image.nostr.build/1508d3f3ddedcb86288e8241d562bcd6c4b3b8f0dd5990d764db380b9d336628.png
drugs are illegal, but you can still buy it, will be the same thing with Bitcoin, people selling and buying it P2P in person. The thing is, people will always find a way to circumvent the government censorship. Bitcoin is inevitable.
Drugs are bought and sold with fiat No way to get fiat, how is Bitcoin useful?
What are you talking about?? Fiat will always exist, people will be paid in fiat, there'll be fiat using Bitcoin as collateral, governments needs something they can control, just use your fiat to buy Bitcoin from someone wanting to buy fiat for whatever reason. If you think Bitcoin is useless, HFSP, i won't try to convince otherwise, do your research, don't trust, verify.
