How so? Only if your whole stack, or a big portion, is fully kyc free. Otherwise you are fucked cause they will look up 10 years in the past on all centralized exchanges who bought how much corn and you'll get a letter from tax authorities for that.

Things can always get very dystopian, but I don’t see how they could possibly enforce that. What about people who lost their seed phrases or lost their bitcoin through scams? Currently, gifting bitcoin is not a taxable event. What about people who gave all of their bitcoin away? How could they ever know who even has it anymore? And when they try, how can they get people to comply? Acknowledging the fact that full dystopia scenarios are always possible. But they still have to figure out a way to force it out of people.

It all depends how desperate they get doesn't it? if we're talking a full-on adversarial " we are disintermediating the trillion dollar rent seekers who run the world" then I don't think it's absurd to suggest they would just throw you in a cage until you cough up your Bitcoin. the current crop of new coiners seems to believe they're just going to quietly fade into irrelevance. that is incredibly naive.

Yeah, that’s why I say it can always get extremely dystopian. But it still gives people way more power than gold ever did. It gives the people who see it coming the power to exit preemptively, and it’s not as if it can just be stolen from someone’s safe like gold can. People can always be thrown in cages, but it is still a massive leg up that never existed before.

Many will fold already and sell what they have on the first letter they receive. The remaining will resist as long as they aren't threatened with jail especially if you have a family. You will be held accountable to prove that you gave it away, probably name names, addresses. They will switch to guilty until proven otherwise. For the lost coins I assume they believe you as long as they don't move again, but I'm sure that second the coins move again some friendly Fed is knocking on your door. I know the future is unknown and it couldn't play out as I think it will, but with all that censorship and state overreach we are heading into that direction.

Everything is fine in Europe ehh... Narnia.

I’m certainly not an optimist, but I also think a prerequisite for this scenario is that Bitcoin is worth a shit ton. Then, all of the extremely rich bitcoiners will have had to fail at influencing the government with money, which is how our government works. Additionally, large scale crackdowns on unrealized capital gains would probably lead to bitcoin crashing severely, resulting in a whole lot less tax money for the government.

They don't have to throw everyone in jail, just make some examples. That's what they often do, punish a few to get many under control. Maybe I'm to dystopian 🤷‍♂️

sure, I agree it's better. and we can still do better yet.

I’m just trying to justify my lack of non-KYC game lol

Different than in the US in Europe I don't see many bitcoiners influencing the government. Could be they're smart and won't crackdown to hard to don't crash the market, didn't think of that.

Step 1: buy a boat Step 2: loose wallet at sea accident Step 3: freedom from financial tyranny

lol