Looks like the US or Germany will be adding to their #Bitcoin pile after this #Cryptonator shutdown
https://www.theregister.com/2024/08/06/cryptonator_closure_international_operation/
Hard to see how our shared vision for bitcoin can be realised as long as the state exists.
This website "could be used for innocent purposes, though given it was happy to turn a blind eye to whoever was using it, it is no surprise it was allegedly utilized by questionable netizens, hence its seizure by the Feds."
In other words have fun with your inflation proof money but don't you dare think you can just send it freely without complying with US sanction lists or you get locked up.
the banking cartel sees bitcoin as it's worst enemy so of course it calls its dogs on it whenever it can
"money laundering" is just a political attack on anyone you want to rob
this is the same "expropriation" that the soviets engaged in, the accusation is the same "helping the enemy" who is "destroying democracy and eating babies"
what they can't stop is when everyone realises what is going on
Yes exactly.
At the end of the day when the cartel is threatened they call in the enforcers.
Currently in the eyes of many these enforcers still have legitimacy but I think that is fading.
The problem is once they lose their position as being viewed as legitimate they still have force and violence.
Like you say we need to reach a critical mass.
when you consider the violence these people are currently engaged in... mincing up the ukrainians, genociding palestinians, encouraging the mutilation of teenagers and sterilising them, funding fake movements and setting business districts on fire, i think they are really actually at a point now where their position is so threatened they are already well into that final phase
everyone is in the crosshairs now, it's not just us who call out their names
They're going to keep shutting these down until privacy isn't down to a single coordinator, hopefully payjoins and coinjoins with nostr can help with that and things like this push the development forward
Yes. However it is just as easy for a state to pass a law containing sactioned addrrssees as it is for them to pass one containing only whitelisted addresses.
As long as we exist under the thumb of our rulers and some coins and transactions are deemed illegal these tools may help you operate in the shadows but not with legitimate and regulated businesses.
Yes for sure, once you've passed your capital over to the "tainted" side you can't effectively go back to commerce with the regulated side in some countries but that's the individuals decision.
Ultimately we're relying on competition between nations where one sees the value attracting capital by supporting privacy
Unintended consequence of this statist intervention - not only will it drive the Bitcoin wealthy out of their jurisdiction to friendlier locations, but it will cause those afoul of their regs to hodl longer thus reducing available liquid supply putting upward pressure on price 😂
