Don't buy into them building parallel systems to circumvent crypto immutability

[samdan777712]

Remember crypto is fundamentally political.

Libra is pumping the price, and institutions and multinationals are going to jump on the bandwagon. FATF/g20 are making threats etc.

Ultimately they can and will build parallel systems BUT you should not heavily rely on it.

Every global citizen's goal should fundamentally aim to hold private bitcoin keys and maintain their privacy and sovereignty. So the coming layer two protocols and privacy additions to bitcoin will be essential.

Look, there will be a global war by states on tax evasion. You have to understand most governments are corrupt and immoral even compared to the united states, most are actively oppressive to developing nations and do not even have the rights American's have.

It is a *moral* obligation to root for the non compliance of bitcoin with governments. These add ons and immutable aspects of bitcoin are going to be implemented and no state can stop it.

Eventually the internet itself will become decentralized, and full nodes on phones will drastically strengthen the immutability of the network.

Things like coinjoin are largely unstoppable, etc.

Look compliance and audit trails are fine for parts of the economy, for businesses, and so forth, different parts of the ecosystem can facilitate that. But governments cannot literally or figuratively be allowed to hold all the keys.

[dothebeats]

Unfortunately though, in this day and age people only follow where the money goes. As for ideals and fundamentals, that was long gone for the cypherpunks, and only capitalists have remained active into bitcoin and crypto while the enthusiasts with strong beliefs are washed up, or moved into other things after seeing bitcoin succumbed into the very thing it's trying to avoid. Regarding regulations, no one wants jail time, and so we, as users of bitcoin, painfully accept the compromise whether we like it or not. This is what bitcoin has become, sadly, though I still believe that it still has the power to be truly decentralized and free from authoritarian constraints if people would go back to bitcoin's roots.

[BitBustah]

^ Basically what beats said, only a small percentage of people care about these types of principles.  Majority just want to make money and trust their security with banks and other government institutions. 

When you spend a lot of time you get this warped sense of reality and start to think that all your fellow group members is what represent the majority when nothing could be farther from the truth.

[pooya87]

Libra is pumping the price,

no matter how many times this is being repeated, it won't come true.
people aren't buying bitcoin just because Facebook may or may not create a shitcoin a year from now. people are buying bitcoin for the same reason why they have been buying it for the past 10 years that price went from 0 to 0.01 to $20000!

Ultimately they can and will build parallel systems BUT you should not heavily rely on it.

but we are already relying on the "parallel system" that is called fiat and banking system. them "upgrading" their system to use blockchain technology doesn't change anything.