Perpetually KYC'd Coins Using Evil Covenants

Perpetually KYC'd Coins Using Evil Covenants

Posted on: February 13, 2024 17:04 UTC

The inquiry centers on the interpretation and implications of employing the term "perpetual" in relation to Bitcoin (BTC) being subject to government policy.

It raises a significant question about whether the use of "perpetual" implies that BTC can never exit the confines of this policy, thus remaining indefinitely under government control. This probes into the permanence of such policies and their long-term effects on BTC's liquidity and autonomy.

Furthermore, there is curiosity regarding the government's ability to relinquish control over BTC once it falls under such policy. This aspect touches on the flexibility and reversibility of government policies concerning digital currencies. Specifically, it questions whether there exists a mechanism by which the government could revert its stance, effectively allowing users the freedom to transfer BTC to any address without restrictions. This point delves into the potential for policy evolution or revocation, highlighting the dynamic nature of regulatory approaches to cryptocurrency.