Father-in-law is president of an American bank. We get to talking about the KYC thing and keeping our bitcoin out of the clutches of the government.
Me: I am worried the government may pull another Order 6102 and seize any bitcoin on exchanges or in ETF's.
FIL: They could.
ME: And maybe also ban self custody.
FIL: Did they ban self custody of gold after Order 6102?
ME: Yes, but bitcoin represents a threat to your entire fiat system.
FIL: So does a gold standard. Congress can fiddle with the rules however it suits them. Your bitcoin is an asset. Assets make money for everyone involved. Banning things is costly and disruptive.
ME: So you're saying they won't ban it?
FIL: You can still buy all the gold coins and gold bullion you want, can't you?
I am not sure what to reply to that one.
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