[Question] If bitcoin becomes everyday money

[ImGenius]

I’m thinking that if Bitcoin continues to operate in a decentralized manner, then the government won’t be able to control it in any way, and if any kind of scammer or criminal steals it, it won’t be possible to catch them. Even if they steal the government’s Bitcoin, it won’t be possible to catch them.

In a way you could say that whoever holds Bitcoin is its owner. Even the government would have to buy this Bitcoin from ordinary users if they run out of Bitcoin. They wouldn’t be able to print unlimited Bitcoin and reduce the value of the country’s money. In a way the government would also end up in a desperate situation.

[SeriouslyGiveaway]

I’m thinking that if Bitcoin continues to operate in a decentralized manner, then the government won’t be able to control it in any way, and if any kind of scammer or criminal steals it, it won’t be possible to catch them. Even if they steal the government’s Bitcoin, it won’t be possible to catch them.

In a way you could say that whoever holds Bitcoin is its owner. Even the government would have to buy this Bitcoin from ordinary users if they run out of Bitcoin. They wouldn’t be able to print unlimited Bitcoin and reduce the value of the country’s money. In a way the government would also end up in a desperate situation.

Governments tried to learn about Bitcoin like CIA effort with Gavin Andresen.
Gavin will visit the CIA's headquarter.

They tried to censor Bitcoin transactions through MARA mining pool years ago.
Bitcoin mining pool observer.
Some press releases from MARA
https://ir.marathondh.com/news-events/press-releases/detail/1233/correction-marathon-digital-holdings-to-launch-the-first
https://ir.marathondh.com/news-events/press-releases/detail/1239/marathon-digital-holdings-becomes-the-first-north-american

China wanted to crack down Bitcoin mining.

Many years, Bitcoin blockchain and network are still decentralized, secure, no censorship, no 51% attacks, it's the best decentralized blockchain and cryptocurrency so far.

[MainIbem]

There are a lot of wallet compromised cases in the past that the attackers went away with it because they know how to cover their track especially, if they did not use an exchange to move the funds about.

Most of them (hackers/scammers) are smart enough to cover their track using DEX to move the funds instead of CEX and then convert to coins that assures privacy like XMR or ZEC, that's the only means i think people can hide their track, cause if they try to use CEX and swap to stable coin it could still be traceable cause they're still on a public blockchain, but it's still kinda tough and the person may lose the money on the process of sending the converted privacy coin to centralised exchanges cause most of them would flag it since the coin is coming from an unknown sender.

[Alvin_talk]

But I thought you said that in your scenario all CEXs are completely prohibited?  Mixers are basically a form of CEX too.

Maybe I went too far. I was actually referring to CoinJoin not mixers. CoinJoins like Wasabi or JoinMarket do not require your kyc information for you to participate. They are non-costudial wallets, so they are basically decentralised.

Also, if scammers are smart enough not to make such mistakes when it comes to Bitcoin scams, how come they are not smart enough to avoid CCTV cameras in supermarkets when it comes to cash scams?

Note that with cash transactions your options are limited. For example, It is not possible to purchase a product online with cash. You need a physical meetup to be able to transact with cash, that is why I said it is easier to identify a scammer who used cash. In developed countries, CCTV cameras are installed in streets, so even they engage in the act of scamming in the street the CCTV camera will most likely capture their faces and they will be brought to justice.

Not at all. It looks like Satoshi created bitcoin hoping that humanity would be perfect.

Maybe that was a flaw in his path because their will always be bad actors in a given settlement. So such consideration should have been made before hand. But the good news is bitcoin might never really be everyday money in reality - it is just there to save those who have realised that we have been traped in a matrix and need to escape.