Bitcoin as Stateless Infrastructure in a Regulated System
The entry of institutional actors has provided legitimacy, liquidity, and operational security. However, it has also introduced fundamental tensions:
· Delegated custody: contradicts the foundational principle of sovereignty over private keys.
· Concentration of custodians: can lead to de facto centralization.
· Potential for censorship: increases the risk of state intervention under legal pressure.
Bitcoin continues to exist as a borderless network, without issuers, without centralized governance.
In BSV, this infrastructure is optimized for real applications like data storage, preserving individual sovereignty in a regulated environment.
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