The Bitcoin Paradox
No One Talks About
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I consider myself a maximalist.
Not in the religious sense.
Not as an ideological posture.
More as someone who takes Bitcoin seriously.
Truly.
Not as a speculative line to trade,
but as a protocol of sovereignty you build upon — slowly, rigorously, without permission.
I buy Bitcoin every day.
Not just as a long-term investment,
but as a reserve.
As something to pass on.
As a form of radical ownership.
And like many, I’ve understood that a core part of this sovereignty lies in four letters: UTXO.
So I’ve learned to manage them.
To structure my addresses.
To anonymize certain coins.
Not to hide.
But to break the link.
Because in Bitcoin, privacy is not a luxury.
It’s armor.
And yet,
I’m facing a paradox as fundamental as it is ignored.
A strategic blind spot most prefer to avoid.
The Danger Is Not Prohibition
Everyone keeps asking the same question:
'Will Bitcoin be banned?'
The answer is simple: no.
Bitcoin will not be banned.
It will be regulated.
Regulated to the point of suffocation.
Regulated until its promise of freedom is nothing but a blurred memory.
A regulated, monitored Bitcoin —
where every satoshi not coming from a licensed exchange is suspicious —
is not a banned Bitcoin.
It’s a domesticated Bitcoin.
The real danger is not prohibition.
It’s silent domestication.
And it has already begun.
Today’s reality: most users buy and sell through centralized exchanges.
Fees are attractive. UX too.
These platforms are custodial, KYC-enforced, and fully connected to banking rails.
Every withdrawal, every deposit is traced, scored, and archived.
If your coins come from outside their perimeter, they are suspect.
If they have been mixed, swap or CoinJoin they may be rejected.
In practice, this means that what you “own” on a CEX is not the same as what you hold on-chain.
You can hold coins on a cold wallet — and you are even encouraged to, with the best marketing around the “self-custody economy”.
But that’s not about security.
It’s only valid if it’s traceable and declared.
Which means: not anonymous.
Which means: no privacy.
When Ownership Becomes Structure
When you think about long-term holding,
inheritance,
and a 10–20 year horizon,
the real question is no longer 'how much' you hold,
but 'how' you hold it.
That means understanding:
– The structure of your outputs.
– Their provenance.
– Their history.
– What they reveal — or conceal.
This is not paranoia.
It’s discipline.
And, I’m convinced, a legal duty.
Because if you ignore the public footprint of your coins,
you are building on sand.
Segmenting Your Coins
Here’s the paradox:
Even if you declare everything,
even if your coins came from a regulated exchange,
simply anonymizing them — even cleanly —
could be enough to make them unsellable.
Tomorrow, an exchange won’t need a reason to reject your deposit.
It will just follow a policy,
dictated by surveillance tools and their 'risk scores'.
You haven’t committed fraud.
You simply wanted to become invisible again.
And that act disqualifies you.
Two Futures to Choose From
Two futures are emerging:
1. The 'integrated' Bitcoin:
approved, filtered, compliant.
Held with permission.
Tolerated as long as it stays docile.
A traceable, taxable, recoverable asset.
A watered-down version of sovereignty.
2. The 'free' Bitcoin:
rough, demanding, but incorruptible.
That you must understand, manage, and structure.
That requires discipline and strategy.
In practical terms, this means that in the near future you will face only two real options:
– Sell coins that are 100% traceable, accepting that anyone with internet access and basic analysis tools can know how much you own.
– Or sell peer-to-peer, which will require a decentralized P2P infrastructure with a user experience simple enough for mass adoption, clear in its purpose, and open-source to ensure trust.
The problem is: this infrastructure doesn’t exist yet.
Current platforms are too complex for the general public and not mature enough in terms of interface.
Liquidity is also inefficient — buying usually comes with a premium, selling with a discount.
Which is not enough for this to become a daily, universal habit.
These worlds barely coexist anymore.
And you have to choose.
Because anonymized coins will be excluded from the first.
And KYC coins, stored on platforms, will be useless in the second.
The Mental Cost
Segmenting your coins.
Maintaining two strategies, two infrastructures, two legacies.
The cost is not just financial.
It’s mental.
And as the mental cost of a sovereign strategy rises,
more people will give up.
Even those who understood the stakes.
They’ll convince themselves it’s too complicated.
That it’s easier to keep their Kraken account
and wait for the market to rise.
And Bitcoin will become exactly what it was meant to replace:
a controlled database,
validated by a technical and political elite,
accessible only if you sign the right clauses and remain obedient.
An Unbearable Choice
This choice is unbearable.
I want a Bitcoin that is anonymous, sovereign, strong.
One that protects and resists.
But I’m also a citizen.
I live in a country, I respect its laws.
And I want to be able to sell some Bitcoin legally one day
— to reinvest, pass on wealth, or materialize what I’ve built.
These two paths are becoming incompatible.
And if nothing changes, tomorrow,
to buy land or fund a project,
I’ll have to prove I never once protected my privacy.
Otherwise: refusal, freeze, suspicion.
This is not a technical debate.
It’s a civilizational issue.
Compliance is sold as a safety net.
But as the mesh tightens,
the net becomes a cage.
It’s Already Happening
I’d rather be wrong today than wake up tomorrow trapped with my own sats.
But this is not maximalist paranoia.
It’s already happening.
We talk about everything in Bitcoin.
Except this.
And that’s exactly why it needs to be discussed.
We Must Build
We must build tools, protocols, and strategies for legal exits
without sacrificing privacy.
Nobody wants to live outside the law.
But nobody wants to be tracked simply for wanting discretion.
This work must start now:
– Educate. Share. Warn.
– Segment your strategy, even if it’s complex.
– Prepare legal, sovereign exit plans.
– Create circles of trust.
– Simplify UTXO management.
Because if it’s already a headache for me, an engineer,
imagine the newcomer who just wants to own Bitcoin for real,
without a bank, without fearing inflation,
and without every coin in his wallet carrying an ID tag tied to his name.
This is why it must be discussed.
Now.
If someone wants to talk, propose solutions, or think seriously about this,
I’m open.
Because right now, we’re planting the seeds of what Bitcoin will be in ten years.
And I still want to be able to look it in the eye.
