$9,266.91 0.54%
BTC · 3w

The long-term viability of bitcoin

Okay, someone please help me understand why this would not be the case: To me, bitcoin's only problem is that as it increases in popularity, the incentive for the state to destroy or outlaw or regulate bitcoin out of existence will increase in direct proportion to that popularity. The state obsessively protects its monopoly on two things- violence and monetary policy. Bitcoin adoption is a direct threat to state monopoly over monetary policy control. At a certain point, when bitcoin becomes popular enough, not only does it begin to choke off massive revenue streams at the retail banking levels (which could easily be remedied by retail bank adoption of btc which will likely happen), it disrupts the state's control over money. The state will not allow that. I cannot see bitcoin ever getting to a stage where it allows for monetary freedom on a large scale. So long as the percent adoption is less than \[some number\], it is not seen for the threat it could be. As soon as it crosses a certain threshold, it will be attacked technically and/or through regulation. What am I missing?
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