The Treasury Is Expanding the Patriot Act to Attack Bitcoin Self Custody
cross-posted from: https://lemmy.bestiver.se/post/613592
https://www.tftc.io/treasury-iexpanding-patriot-act/Open linkView original on lemmy.dbzer0.com137
Comments17https://www.tftc.io/treasury-iexpanding-patriot-act/Open linkView original on lemmy.dbzer0.com
To be fair, the author has a good point, but we knew this was coming, and Bitcoin did nothing to prevent it. Monero, however, did.
Surveillance state adds suveillance🙃
I know right! I'm in shock. /s
It's the equivalent of farmers voting for trump and getting screwed over, Bitcoin bros are next in line
I think most Bitcoin bros just care about the line going up; not about privacy/freedom. Trump and those around him are getting insanely wealthy from crypto in general.
"bitcoin bros" who use custodial wallets and "bitcoin bros" who do high-frequency trading on Coinbase are not the same people. This is not good news any way you spin it, just further consolidation of power.
...yet. Authoritarianism creeps, it crawls silently, strategically, meticulously, knowing that far too few will notice or care until it's too late.
I'm sorry, but WHAT?
The US has been detaining citizens to foreign countries without due process.
Supreme court validated ICE raids in cities.
This is not 'authoritarianism creeping', it's just doing a victory lap.
Yes, but that didn't happen overnight. The authoritarian creep had been happening long before, but it's important to remember that they don't yet have total control; they can do a lot of horrible things with impunity, certainly, but they need to keep up appearances and move more slowly with other things so they have less resistance from whatever remains of the judiciary.
It kinda did.
Like people voting in a felon in a day.
As reminder crypto are being centralized so it is looking more like traditional finance. Coinbase holds over 12% of all Bitcoin and 11% of staked Ether.
https://coinlaw.io/coinbase-users-statistics/
That's everything of value. All a well decentralized ledger could do is make it incredibly hard to block transactions, change the parameters for total coin supply and dispersion rate. Don't know why anyone expected anything in terms of more even wealth distribution. Wealth distribution is determined by off chain factors. Factors no different than any other value store
it's never lupus lookin ass
big deal, and fascism. NATO colonies copying the fascism is to be expected. Spirit of 2nd amendment is spirit of right to resist.
Patriot Act's name is meant to distract from fascist powers within it, and while bitcoin is not super anonymous if you use techniques that are now recommended to "crackdown", there is improvement.
Bitcoin's superiority over gold is the ability to move to a more welcoming jurisdiction without border confiscation, or luggage weight, concerns, and so US/Colonies crackdown on "definancialization rights" may well lead to wealth drain from the empire.
What the blunt
It's my understanding that Monero actually provide anonymous transactions.
Yes? But who own monero? And it’s verification nodes? Might end up centralized like btc and eth