Part 6/13:
Moreover, Bitcoin enables innovative transaction mechanisms—such as sound-based payments via NFC or audio signals—bypassing the need for encryption and complex security protocols altogether, further transforming secure transactions.
The Role of Regulation and the Danger of Re-Centralization
Addressing regulators, Antonopoulos criticized their tendency to view Bitcoin through a traditional lens—attempting to fit it into existing financial frameworks or taxing it as an asset. He strongly opposed ideas like sales taxes on Bitcoin, equating such approaches with misguided regulation akin to classifying the internet as a fax service. Such moves, he warned, would stifle innovation and push Bitcoin activity underground or offshore.