cross-posted from: https://lemmy.bestiver.se/post/613592
The Treasury Is Expanding the Patriot Act to Attack Bitcoin Self Custody
https://www.tftc.io/treasury-iexpanding-patriot-act/
https://www.tftc.io/treasury-iexpanding-patriot-act/
cross-posted from: https://lemmy.bestiver.se/post/613592
17 Comments
shortwavesurfer@lemmy.zip · 41 pts · 359d
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.
Sasquatch@lemmy.ml · 38 pts · 359d
Surveillance state adds suveillanceš
shortwavesurfer@lemmy.zip · 10 pts · 359d
I know right! I'm in shock. /s
heyWhatsay@slrpnk.net · 23 pts · 358d
It's the equivalent of farmers voting for trump and getting screwed over, Bitcoin bros are next in line
sobchak@programming.dev · 8 pts · 358d
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.
floquant@lemmy.dbzer0.com · 7 pts · 358d
"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.
cyrano@lemmy.dbzer0.com · 8 pts · 358d
As reminder crypto are being centralized so it is looking more like traditional finance. Coinbase holdsĀ over 12% of all BitcoinĀ andĀ 11% of staked Ether.
https://coinlaw.io/coinbase-users-statistics/
doeinthewoods@lemmy.zip · 4 pts · 357d
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
mugita_sokiovt@discuss.online · 8 pts · 359d
Telorand@reddthat.com · 5 pts · 358d
...yet. Authoritarianism creeps, it crawls silently, strategically, meticulously, knowing that far too few will notice or care until it's too late.
msage@programming.dev · 5 pts · 358d
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.
Telorand@reddthat.com · 2 pts · 358d
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.
msage@programming.dev · 1 pts · 358d
It kinda did.
Like people voting in a felon in a day.
mugita_sokiovt@discuss.online · 2 pts · 358d
artichokecustard@lemmy.dbzer0.com · 7 pts · 358d
it's never lupus lookin ass
humanspiral@lemmy.ca · 4 pts · 358d
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.
username123@sh.itjust.works · 6 pts · 358d
What the blunt
shreyan@lemmy.cif.su · 3 pts · 358d
It's my understanding that Monero actually provide anonymous transactions.
cyrano@lemmy.dbzer0.com · 3 pts · 358d
Yes? But who own monero? And itās verification nodes? Might end up centralized like btc and eth