If they had control over Bitcoin they would not be taking measures like this.
(twitter.com)
😷 DEM PANIC 💉
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Their crypto is safe and fully accessible, they just can't easily convert it to fiat without access to bank accounts. If crypto was mass adopted, they can easily use it.
Is it really FULLY accessible without access to bank accounts? How does that work?
The crypto is accessible, yes. But converting to fiat is not. It's like being in Ottawa with an ounce of gold. The gold is worth $1,900. You have the gold. No one is taking the gold away from you. But little to no stores in Ottawa will accept gold as payment without first converting to fiat.
So the options are to have stores start accepting crypto as payment. Or to find peer to peer sales of the crypto to fiat. Just like if you had an ounce of gold on you.
Yes, no one can takeover your BTC private key - the only option is to coerce it from you.
Truckers can always transact BTC as a peer-to-peer system. Nigerians did this last year when their government outright banned it.
Nigerian prince?
Lol.
TLDR = Naira was tanking (still is) like Trudeau's manhood (stocks were going parabolic up because the Naira was going parabolic down), population needed a way to hold value, they switched to BTC. Gov banned BTC... people said "screw you" we'll go peer-to-peer.
And there's ways around that, could always trade it to someone else who uses fiat to buy stuff for you.
Exactly. Adds another step, but still some options.