Oddbean new post about login | logout last week on my citadel dispatch rip with @ODELL i talked about how unbelievable it is that the BANKING LOBBY pushing for the equal treatment of bitcoin advocating for repeal of things like SAB 121 (unfair accounting treatment of bitcoin that makes it financially not viable for banks to service bitcoin) well, since the rip we've really been seeing the full force of that political power shift. the bill that repeals SAB 121 went through both house and the senate. so stuff like unfair accounting treatments or bans of regulated entities to touch or service bitcoin, those things i have increasing confidence will be sorted out soon (which is good news b/c it means more ppl will be able to buy bitcoin with less friction; imagine opening your normal banking app and being able to buy bitcoin there). the real fight now that remains in a tough place that we need to really focus our energy on feels like protecting our ability to interact with bitcoin the asset and network in a non-custodial way which governments are increasingly focused on pushing out while financial firms are trying to move closer to bitcoin. it was a crazy week so didn't have time to post earlier but was really happy to see the peer-to-peer rights fund come together this week. everyone should check it out and donate! bitcoin policy institute doing incredible work. https://p2prights.org/
100 % 🧡 You are guys real inspiration for us, bitcoin activists /defenders in the EU. In the US you have community who supports your fight with knowledge, funds, mobilization of people and share it in many ways, pushing the defence of bitcoin. In the EU it is total nightmare - few people care… we lost the support of the majority of the European Parliament achieved last year simply because politicians who care about privacy and freedom payment instruments were not supported by EU’s bitcoin community... so I hope that looking at your work and real threats coming from the regulatory overreach in G7 countries, more bitcoiners understand why they should participate in that fight and defend bitcoin, its developers, investors, users and miners.
Bitcoin doesn’t fit this system. Thinking we can drop sound money into fiat systems and fix shit is dumb as fuck. The whole thing has to go, rebuilt from the ground up with a new money at its base. Unless you’re building anew, you’re spinning wheels in mud. Bitcoiners ought not fall for this.
Great chat with Odell, thoroughly enjoyed it. The more I hear this stuff, the more I think it’s a delay tactic- let’s be honest here, they know they are fucked. All they are doing is delaying the inevitable, so they can stack sats themselves (non humble twats) - WE ARE WINNING