New North American Mining Pool Bets On Region And Regulatory Compliance - First of all, I think it's great that more and more hash rate is getting distributed around the world & becoming less concentrated in China - Bitcoin is becoming more decentralized all the time. I think this is a trend likely continue as other countries globally start to fight for the last few million coins - a global hash war in the making.
I don't agree people will pay a premium for compliance; I'm betting they'll do quite the opposite. KYC in any form (basically what this is), is dangerous to the end-user. They are concentrating sensitive data into honey pots for hackers & state actors to exploit. Most can't see the value in their privacy yet. KYC does nothing to prevent crime. The crime is a political & monetary system that enriches the wealthy and punishes the poor. All it does it provides a level of fear so that governments can easily pin you with taxation. It also adds more unnecessary friction & more time wasting. Thing is though, every developer in the Bitcoin space hates this & can see how damaging it is. A lot of new products are being built more decentralized, trust-less, permission-less & with more privacy in mind.
Here are some Bitcoin products, services & implementations that cannot be KYC'd (or probably won't be) for example. CoinJoin (Wasabi/Samaurai/JoinMarket), Lightning Network, Atomic swaps, P2P trading/lending (Hodl Hodl/Bisq) - there are many others. This trend will only continue. I'm betting people will use these things almost as a protest in the future. I think miners will continue to mine without regulatory compliance. Bitcoin mining is incentivizing people to use more renewable energy. Wind, solar, hydro - you could literally mine Bitcoin outside of the grind & not a soul would know. Similar with nodes, you can buy $200 worth of hardware online & install open-source software on it. The costs to enforce these dystopian laws will be too high; especially as more people board the Bitcoin-train.
Bitcoin is permission-less by design; you don't need any authority to get a wallet & start sending/receiving funds. Anyone with a smart device & internet connection can now have access to banking. About 4 Billion people are unbanked & the Lightning Network is getting easier to use all the time. I really don't understand why people are so negative about it. It's happening, the doubters are already wrong. There's a positive counter-argument to every bit of propaganda.
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