30/12/2023
COMMUNITY QUESTION: Why would you beg for institutional adoption from the same fractional reserve banking system you protested on January 3, 2009?
Here are some things to consider when asking the fractional reserve banking system to institutionalize with 12
1. A single custodian will hold all .
2. ETFs will soak up the supply which raises doubt about the ability for other exchanges to survive.
3. What if the Kill Private Wallets Bill gains more support and passes after those ETFs are approved? This means all private wallets become "Islands" with no boats that get entered into OFAC and can only travel between each other.
4. Concentrated custody makes it a lot easier for the supply to be confiscated in the event that Traditional Finance bets the wrong way and needs a bailout.
5. Is this what a looks like? The US Treasury gives you one new backed in part by for each old .
6. What happens when banks represent a majority of the hash power on by the year 2030?
Will you regret your wishes?
(The image below is an article released by The Times UK on the same day that the first block on the blockchain was mined. This article is a hashed reference in the coinbase of the genesis block which was mined on January 3, 2009 at 1:30PM EST.)