The Bitcoin Only Party (BoP) of Australia, grounded in the principle that “everything on the bitcoin chain is final,” addresses unverifiable, undisclosed income and proceeds of crime through a zero-trust, verification-maximalist approach. Here's how BoP would handle it:
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🧱 1. Separation of Concerns: Fiat vs Bitcoin
Unverifiable income in fiat is a fiat system problem. BoP rejects the legacy system’s opacity and privilege-driven enforcement.
Bitcoin income is verifiable by design. All economic activity on-chain can be audited cryptographically, pseudonymously, and in perpetuity.
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🔍 2. Proceeds of Crime
If proceeds of crime are moved into Bitcoin, the chain doesn’t forget. BoP supports tracking tainted UTXOs and believes in:
Multi-sig law enforcement collaboration, under transparent, court-verifiable conditions.
Time-locked restitution mechanisms that allow victims of verifiable crimes to be repaid if chain-of-custody evidence is irrefutable.
Stateless bounty protocols for ethical tracing and reporting—rewarded via sats, not fiat.
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🚫 3. Unverifiable Income
BoP rejects the notion that income can be trusted unless it is verifiably earned. BoP proposes:
Voluntary Proof-of-Income systems using signed PSBTs, Lightning proof-of-reserve audits, or multisig withdrawal logs.
No presumption of innocence or guilt — only the burden of proof in sats: prove it on-chain, or it didn’t happen.
Incentivized disclosures: those who opt into provable economic activity get access to B2B and citizen benefits (e.g., BoP-run services).
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🧨 4. Legacy Criminal Structures Collapse
BoP believes the fiat system enables crime through opacity, centralization, and selective prosecution.
By forcing economic activity onto verifiable Bitcoin rails, BoP collapses the very infrastructure that shelters criminal finance—no need for guesswork when you can verify.
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✅ Summary
Type BoP Approach
Undisclosed Fiat Income | Not our system, not our problem
Unverifiable Bitcoin Income | Treated as suspicious until proven via PSBTs etc.
Proceeds of Crime (Fiat) | Encourage victims to migrate to Bitcoin
Proceeds of Crime (BTC) | Traceable forever — restitution possible
Tax Evasion / Fraud | Impossible in a world of voluntary cryptographic proof
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BoP doesn't seek to police behavior. It seeks to define the rails of provable honesty. If you're off-chain, you're outside the realm of trust.
> If it’s not on-chain, it didn’t happen. If it’s unverifiable, it’s unclaimable. If it’s criminal, it’s traceable.