It's probably not a coincidence that a mentally insane law that basically makes #Bitcoin transactions illegal is being shoved through the Treasury at the same time as there is buzzing about an ETF announcement.
Don't get complacent, shit is gonna get real and the days of utter basic privacy being a crime might not be far away.
Apparently making an anti-privacy & #bitcoin law causes people to want it
Some of us (me included) are like children, you tell us this is bad so we want more of it
I think you pretty much described human nature. Sit back and enjoy the show
Do I wish I had more at a cheaper price?
Absolutely, but I was having fun gambling & losing on alts. I got in & got off zero. Just keep stacking & keep learning
Eye opening when people start looking at charts priced in #bitcoin thats when the harsh learning will start for many.
Risky to be sitting on the sidelines.
The way to know whats good for us is just knowing what they dont like list. They dont like bitcoin then Its good for us. They dont like open source. Its good for us. Etc..
True true, sometimes I do wonder on rare occasion if they are playing the parent telling the child not to touch a hot glass tray.
I speak as that child who burned the piss out of myself because I wouldn't listen
Unfortunately true, my bro! So wouldn’t it be appropriate to put your faith and trust not in Bitcoin or “any” coin for that matter, but in the Holy One, King of kings and Lord of lords, Jesus Christ? He’s the only One who can save ALL of us! Please read the Gospel of John, the 4th book of the New Testament with an open heart and mind, will be glad you did, won’t be disappointed!🔥✝️🙏😎
The way to safeguard the free exercise of our rights is to exercise them.
🧡
Crisis is the rallying cry of the state. It's when the state can most effectively expand its reach and power.
A populace that is unaware of how consent is manufactured is a populace that is vulnerable to manipulation.
A basic Bitcoin transaction outside of banks will be illegal in the US of A
Everything is illegal in the US 🤷🏻
[813571]
"Under a government which imprisons any unjustly, the true place for a just man is also a prison." - Henry David Thoreau
🦬🫡🧡💜⚡✌🏻🫂😌 #nostr #btc #bitcoin #zap #sats #freedom #freespeech #privacy
Are you talking about this one? Or is this some other BS?
https://www.congress.gov/bill/118th-congress/senate-bill/3087
I feel revolution is coming…
there are no coincidences
What’s the law in the works?
Oh geez, back to the “it’s to help stop the terrorists” schtick again, are they?
Nothing like a good crisis to grow the size of the state! 🤦♂️
How can they enforce it? Pirating is illegal but people still do it
The measures they can take to enforce it are only limited by your imagination. There’s a great many ways.
They will enforce selectively. Make examples of people they especially don't like.
What are the on ramps and off ramps for pirating?
Piracy doesn't pose a major risk of them losing control though. If it's ineffective at first, they might first increase the sentences gradually, and arrest high profile targets at first, making sure there's "correctly" biased media coverage. If even life in prison doesn't deter, they might mandate ISP:s to scan and report traffic that looks like Bitcoin - cost is not an issue, they'll either put it on the customers or all taxpayers/fiat holders - or mandate operating systems to scan for it, and ban hosting of FOSS OS downloads without it, this maybe also together with mandating some kind of encryption scheme with the ISP:s that blocks all Internet traffic unless the user is logged in with their E-ID - there's probably a reason for all the "client side scanning" bullshit. If all that fails, after several years of course, they might even restrict internet access altogether to a "need to use" basis for the open internet, building some kind of intranet that only allows approved services for the people. Nothing is above them when everything is at stake. And they will make sure with propaganda that the regular people are with them emotionally against the "money laundering terrorists", if necessary including a few false-flags, and that the measures are a necessary thing, much like airport security theater, gun control outside the US, KYC practices, etcetera, are viewed today.
They can print trillions for the purposes if they want.
But I'm of course just a pessimist, or maybe even a paid shitcoin or fiat shill... Bitcoin is inevitable... That's the standard reply in Bitcoin circles when you're pointing out future problems visible from a mile away...
I'm ready to go to the mattresses with these fuckers.
Do they think they can bully us into banking our #bitcoin with blackrock?
The fight to defend your rights never did go smoothly.
Can’t keep your foot off the pedal. Never ever ever!!!
Bring back the guillotines!
I’ve listened to so many of your narrations of bitcoin books that when I read a post by you I can clearly hear you’re voice. It’s great.
Who lets these people make these decisions ?! Oh we do. How about we all stand up and say no !
I find it scary.
They are cooking a similar regulation in Europe, as well.
They don't want us to self custody Bitcoin.
Because then we can send it, without permission, to anyone we want.
And if we keep Bitcoin on an exchange, or buy their ETF, they can censor or confiscate it with one click. And tax it.
What if they make it impossible to legally send Bitcoin from an exchange to your wallet?
I guess exchanges in the US, Canada and EU will stop supporting withdrawals.
Then we will be left with an option to keep Bitcoin on a regulated exchange, or buy it peer to peer, Bisq or Robosats or alike, or buy from a centralized exchange from some other jurisdiction, e.g. from El Salvador.
But then, freedom-loving governments of Europe and North America, for our protection of course, can block bank transfers to exchanges outside of the EU or NA.
But OK, even then, we will be left with the custodial or P2P options.
I guess that's manageable. They will not be able to enforce a ban on running a wallet software on your computer or a phone, and a ban on buying P2P.
I mean, they can make anything they want illegal, but it's impossible to enforce, I think.
But for sure they can hinder adoption.
And also, what if, in the future, someone wants to sell a sizeable stack, and even dutifully pay capital gains tax... What if they say you must show some proof of the source of funds?
I think we all need to keep good records of all the purchases we are doing now.
To have a future option of selling it to a regulated exchange.
P2P will likely always be an option, but if it is deemed illegal in a dystopian future, then the sale price will be largely discounted.
Does my thinking make sense?
Anything else we can do, to protect our ability to save for the future, using the asset they cannot print?
I guess it is good to have both non-KYC and KYC stack, separately.
If they go after you, to seize your KYC stack, which they know you have, you give it to them, at least the part you have not lost in the boating accident.
If you want to sell on a regulated exchange, you easily can because it is tagged.
And the non KYC-ed stack, you can sell P2P on the future.
I'm afraid that we will have two parallel bitcoins in the future. Official, on regulated exchanges and ETF, and non KYC-ed.
With different prices and transacting methods. I hope I'm wrong.
Anyway, my thoughts. Happy to hear what people think. Thanks for reading.
All good points fren 🫂💜
You’re not wrong. Privacy will be very out of vogue until about 2030. And even then..
Or... Since this wouldn't discriminate hodling (nay, quite the opposite) then the outcome would just be felt at merchants... Many in the US would indeed stop accepting BTC publicly. (Poor bitcoin Sign industry!)
But let's face it. Merchant adoption in the US is abysmal. The rest of the world is where the good stuff is happening on this front. All these startup economies like bitcoin Beach, bitcoin Lake, Bitcoin Ekasi, etc... Those will all shine like a beacon to the whole world as they grow.
Americans who still want to use it will then be incentivized to use more permissionless tools. This part is very good for bitcoin. Ideal, in fact. It takes bitcoin back to it's cyberpunk origins in the mind of all americans.
The price may take a small hit at some point, but this really isn't unwelcome news.
