Oddbean new post about | logout
▲ ▼
Brisket | 4 months ago (raw) | root | parent | reply | flag 
 Because its permissionless.

Periods of great prohibition drive great innovation.

If you haven't thought about what to do if your country bans bitcoin, maybe you should.
▲ ▼
chucklangstrumpf | 4 months ago (raw) | root | parent | reply | flag +1 
 It is permissionless but if you risk going to jail for using it, how does that help you? Who will accept it?

Whats your plan when the gov bans bitcoin?

IMO the chance they are banning  is relatively low. BTC is no problem for the state, it does not work as money, it is a "store of value" now. There are numerous stores of value, no problem for the system.

It was a p2p currency once, that is a serious risk for the state. A store of value is not, just like Gold.
▲ ▼
Gigi | 4 months ago (raw) | root | parent | reply | flag +2 
 Bitcoin is illegal in some jurisdictions. Question for you: is it still used there? If yes, how? And how much?
▲ ▼
chucklangstrumpf | 4 months ago (raw) | root | parent | reply | flag +1 
 How much is Monero used in those jurisdictions?
▲ ▼
sourcenode | 4 months ago (raw) | root | parent | reply | flag +1 
 There's no way of knowing, which I assume is your point.

If authorities can control internet access and surveil us in a dozen other ways it might not matter if bitcoin is permissionless.

That's why I think nostr and other open source freedom tech is incredibly important