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lets assume x years from now all coins and notes are replaced by BTC how will that help someone like another Alwaleed that has most of his money in BTC when he is imprisoned and has all his hard assets seized and is forced to give his key or stay in prison?
Permissioned finance in action: government hijacks bank and brokerage accounts of political enemies. In many countries, wealth controlled by trusted third parties is subject to freeze or seizure without due process. See also https://twitter.com/NickSzabo4/status/817880910456467456 … http://nakamotoinstitute.org/trusted-third-parties/ …https://twitter.com/InvestWatchBlog/status/928046762434203648 …
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In most places putting somebody in prison requires much more due process than freezing or seizing their accounts.
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I feel there will be demand for customized "poison pill" smart-contracts guarding crypto-assets against physical takeover attempts.
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I bet Prince Alwaleed has much better understanding of Bitcoin's value proposition now: https://www.cnbc.com/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html …
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Serious Q: How isn't off-chain transaction bundling (lightning etc) a potential slippery slope to this? Where 'banking 2.0' is positioned as a relatively trusted third party approving/disapproving bundling where it's the most convenient and potentially cheapest option for masses.
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Or is this seen as the compromise with existing financial infrastructure, as its viewed as essentially inevitable, till broadcast can be more instantaneous with advanced technologies and algorithms of the future.
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Yup and the OECDs initiatives on global banking transparency is only going too make it way worse!
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Trusted third parties only when it suits them.
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You may not know who of these actually have
$BTC also stacked up.
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Goodnight Satoshi
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Apolitical money only follows the mathematics.
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Hey man we’ve been over this. It’s not ok to try to pass off
@wetrustcty as the official account.@WeTrustPlatform is the official twitter handle. What are you dooooing?Thanks. Twitter will use this to make your timeline better. UndoUndo
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Haaa ok gotcha. Take a closer look. Their profile explicitly says “unoffical” account and it has like 25 followers. Let’s be sure to point to the right outlets. ;) Sorry for barking! I dropped right into mama bear mode lol.
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True. True.
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If government licenses commerce I will assume it is they who control and determine the medium of exchange for that commerce but perhaps I am misunderstanding how the system is set up.
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New
#binance pump group! Make quick#money by boosting the#exchange! Join our#Discord now! We will not start pumping til we reach 2k+ members in this group.https://discord.gg/A8WZbxCThanks. Twitter will use this to make your timeline better. UndoUndo
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