The SBR is happening whether any of us like it or not. We can’t create a free system and then expect the government to come in and do the right thing. Relying on them to burn the bitcoin or create laws to not seize it only creates a temporary and local solution. We shouldn’t be asking the government to do this because that creates a perverse incentive to the devs to create technology that nests within that framework. What happens when the government doesn’t want to play by their own rules? We have to build technology that resists this no matter who is in charge.
The government will likely keep the seized BTC, and we should use it as an incentive to innovate and create a protocol with the fitness to withstand future seizures. Adopting a free monetary system meant giving up the consumer protection that the government currently provides, there were bound to be casualties. This is way bigger than bitfinex and the Silk Road, the long game is what matters.
Don’t get me wrong, if they return the coins to the rightful owners, that would be great, as long as we operate as if they didn’t. I don’t think returning the coins now would mean anything at all to future regimes that want to steal it. I get wanting to go along when the government aligns with our interests, but there’s always the next election. We can’t get complacent.
bitcoinranger / Bitcoin Ranger
npub12m…ynzf4
2025-03-11 20:39:27
in reply to naddr1qq…y428
Author Public Key
npub12mq55q5qdjz6fua99ee58v7uc3j9segcl6sftxjjh6rv9lek025s5ynzf4Published at
2025-03-11 20:39:27Event JSON
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"kind": 1,
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"content": "The SBR is happening whether any of us like it or not. We can’t create a free system and then expect the government to come in and do the right thing. Relying on them to burn the bitcoin or create laws to not seize it only creates a temporary and local solution. We shouldn’t be asking the government to do this because that creates a perverse incentive to the devs to create technology that nests within that framework. What happens when the government doesn’t want to play by their own rules? We have to build technology that resists this no matter who is in charge. \n\nThe government will likely keep the seized BTC, and we should use it as an incentive to innovate and create a protocol with the fitness to withstand future seizures. Adopting a free monetary system meant giving up the consumer protection that the government currently provides, there were bound to be casualties. This is way bigger than bitfinex and the Silk Road, the long game is what matters.\n\nDon’t get me wrong, if they return the coins to the rightful owners, that would be great, as long as we operate as if they didn’t. I don’t think returning the coins now would mean anything at all to future regimes that want to steal it. I get wanting to go along when the government aligns with our interests, but there’s always the next election. We can’t get complacent.",
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}