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The danger for Republicans embracing crypto is that it opens the door for Democrats to position themselves as the
Bitcoin
purists, which is the correct position.
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Bitcoin’s invisible tug-of-war between suits and cypherpunks I asked @cakewallet's @sethforprivacy, @citrea_xyz's @0x_orkun, and @21Shares's @PapaDari_ about whether Bitcoin is changing TradFi and government or the institutions are changing Bitcoin. Here's what they said: "If the majority of the money and influence in Bitcoin has a perverse financial incentive to remove privacy of the individual and retain power for themselves, we are likely to see less funding and resources being poured into improving Bitcoin’s privacy or self-custodial tech." - Seth For Privacy "If a majority of people rely on custodians or ETFs, transactions will occur at that layer without ever touching Bitcoin’s mainchain. This lack of onchain transactions means fewer transaction fees, which will become a critical issue as block rewards continue to halve." - Orkun “Bitcoin has undeniably shaped narratives in TradFi and policy circles, from El Salvador’s legal tender move to the global ETF race pushing institutions and governments to take it seriously. At the same time, TradFi’s entry via ETFs and regulated custody solutions is influencing Bitcoin’s perceived legitimacy and utility, especially for institutional portfolios.” - Moukhtarzadeh I will post the link to the full article for @CointelegraphZN as a reply to this post shortly.
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Ron Paul was advocating for no capital gains taxes on bitcoin before bitcoin existed.
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Ordinals enjoyers run nodes to track their NFTs. Filter enjoyers run nodes to try to stop the NFTs. Either way, node count goes up. Bitcoin is for enemies. This seems good for Bitcoin.
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I see a lack of arguments against the CSFS portion of CTV + CSFS. And people seem to say it's non-controversial. But doesn't it enable the SPV-proof based sidechains that some don't think are a good idea due to the current state of mining centralization? What am I missing there?
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If traditional assets can be tokenized and transferred between Ethereum and Solana, they could probably also be tokenized and transferred between chains controlled by Coinbase and Robinhood, for example, without any need for Ethereum or Solana. Seems bad for $ETH and $SOL.
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