Bitcoin bulls probably underweight the chance of an Executive Order 6102 gold seizure type of event. Bitcoin bears probably underweight the demand for grey and blackmarket capital storage.
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Not about seizing it - it is about what happens to the price if the people in the developing world cannot legally move funds into or out of it.
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Yup - it is great for preserving wealth in areas with highly dysfunctional governments. And it will still serve that purpose if the ecosystem becomes separated from the developed world’s legal financial system, just at a price level that is an order of magnitude lower.
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To be clear - this is a low probability event that will not be a significant risk until the next major terror attack is noticeably funded with crypto. The enablement of things like ransomeware attackers shutting down hospital IT systems is not enough to shift policy alone.
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