Bitcoin Only Party (BoP) Policy Brief
Subject: Handling Unverifiable Income and Proceeds of Crime
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Prime Directive: Everything on the Bitcoin chain is final.
Policy Objective: To eliminate unverifiable and illicit economic activity by shifting enforcement from subjective fiat systems to objective, cryptographically verifiable truth on Bitcoin.
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1. Separation of Economic Domains
Fiat Income (Unverifiable):
BoP rejects responsibility for income generated and hidden in fiat systems.
The fiat system is inherently opaque and corruptible.
BoP views this as a legacy system problem to be phased out.
Bitcoin Income (Verifiable):
All economic activity is traceable and time-stamped on-chain.
Proof-of-income, reserves, and spending history can be provided via:
Signed PSBTs
Lightning proof-of-reserve audits
Time-locked multisig withdrawals
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2. Proceeds of Crime
Legacy (Fiat) Crime Proceeds:
Outside the jurisdiction of a Bitcoin-governed economy.
BoP supports exit from fiat structures to neuter their capacity for criminal finance.
Bitcoin Crime Proceeds:
Chain analysis can trace all tainted UTXOs indefinitely.
BoP proposes:
Victim-led claims systems based on irrefutable chain-of-custody evidence.
Stateless bounty/reward mechanisms for ethical tracing.
Time-locked, multisig restitution vaults involving community verifiers and optionally law enforcement (under transparent governance).
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3. Treatment of Unverifiable Income
No Presumptions:
BoP does not presume innocence or guilt—only verification.
Incentive Model:
Participants who opt in to provable income gain:
Access to BoP-run services.
Verified social and business trust networks.
Unverifiable Bitcoin Income:
Considered economically inert until voluntarily disclosed and provably earned.
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4. Enforcement via Protocol, Not Police
Transparency by Default:
Voluntary participation in proof systems results in self-evident economic legitimacy.
Non-participants are not punished, merely excluded from benefits.
No Need for Coercion:
The incentive to verify replaces the threat of audit.
Fiat enforcement relies on fear; Bitcoin enforcement relies on proof.
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5. Strategic Outcome
Collapse of Fiat-based Criminal Structures:
Illicit activities that depend on fiat’s anonymity and offshore systems lose their operational cover.
Bitcoin’s audit trail offers permanent accountability.
End of Unjust Power Asymmetries:
BoP governance ensures equality under verification, not arbitrary state enforcement.
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Slogan:
"If it’s not on-chain, it didn’t happen. If it’s unverifiable, it’s unclaimable. If it’s criminal, it’s traceable."
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BoP replaces fiat's fog with Bitcoin's clarity. Justice is no longer served by force, but by finality.