AccessTribe on Nostr: Below is an outstanding article by preston for Bitcoin Magazine with commentary on ...
Below is an outstanding article by preston (npub1s5y…6q7z) for Bitcoin Magazine with commentary on the recent letter from Senator Warren to congressional members and the FinCen proposals released 1 day after. Important reading for anyone in Financial Markets, American Citizens, and anyone vested in safeguarding democracy, frankly. Some key quotes:
"In a recent letter from Senator Elizabeth Warren and numerous congressional members, they leverage international crises to further their own political agenda and curtail financial freedoms. Armed with a freshly published Wall Street Journal article that falsely suggests Hamas raised a significant sum of crypto funding to attack Israel - the truth couldn’t be more obscured. The irony of the claim is that the public Bitcoin blockchain provides evidence that anyone can dispute – which is exactly what happened the day following the Senator’s letter to the President. On October 18, blockchain analysis firm, Chainalysis, clarified that while some terrorist organizations, including Hamas, do leverage cryptocurrencies for funding, the scale is extremely small relative to traditional fiat banking means."
On the proposed banning of nodes:
"Since bitcoin is a digital commodity, this right to audit delivery is essential to protect their liberties against foul play. Suggesting such a device be banned is a vote for autocratic control by government handlers at the expense of the individual’s rights to protect themselves from thieves. While we are on this important subject, Bitcoin is the only blockchain that has a code base small enough to allow for everyday citizens to afford and operate their own node and provide independent audits on their property – ensuring its legitimacy and overall security. "
The very real threat of totalitarian control
"So what do totalitarian governments embrace? They embrace control. Such a control is often established through small and incremental changes that mask a deeper trend and direction that citizens don’t notice. This progression ultimately leads to absolute control. Now, what is the paramount lever to pull if a government was interested in absolute control? That’s right, the money. Because money is the energy that fuels every action and desire of the individual citizen. Therefore let me be very clear: You will not beat a totalitarian government by becoming more totalitarian."
Bitcoin is Inevitable, the continued prosperity of the United States is not
"In the face of the unstoppable tide that is Bitcoin and decentralized finance, it is paramount that we, as a society, and particularly as citizens of the United States, recognize the critical crossroads we find ourselves. The trajectory of Bitcoin’s innovation and adoption will continue, with or without the active participation or understanding of any single nation. The question that remains is whether we will be leaders or laggards in this inevitable financial evolution."
https://bitcoinmagazine.com/legal/bitcoin-anti-totalitarianism
"In a recent letter from Senator Elizabeth Warren and numerous congressional members, they leverage international crises to further their own political agenda and curtail financial freedoms. Armed with a freshly published Wall Street Journal article that falsely suggests Hamas raised a significant sum of crypto funding to attack Israel - the truth couldn’t be more obscured. The irony of the claim is that the public Bitcoin blockchain provides evidence that anyone can dispute – which is exactly what happened the day following the Senator’s letter to the President. On October 18, blockchain analysis firm, Chainalysis, clarified that while some terrorist organizations, including Hamas, do leverage cryptocurrencies for funding, the scale is extremely small relative to traditional fiat banking means."
On the proposed banning of nodes:
"Since bitcoin is a digital commodity, this right to audit delivery is essential to protect their liberties against foul play. Suggesting such a device be banned is a vote for autocratic control by government handlers at the expense of the individual’s rights to protect themselves from thieves. While we are on this important subject, Bitcoin is the only blockchain that has a code base small enough to allow for everyday citizens to afford and operate their own node and provide independent audits on their property – ensuring its legitimacy and overall security. "
The very real threat of totalitarian control
"So what do totalitarian governments embrace? They embrace control. Such a control is often established through small and incremental changes that mask a deeper trend and direction that citizens don’t notice. This progression ultimately leads to absolute control. Now, what is the paramount lever to pull if a government was interested in absolute control? That’s right, the money. Because money is the energy that fuels every action and desire of the individual citizen. Therefore let me be very clear: You will not beat a totalitarian government by becoming more totalitarian."
Bitcoin is Inevitable, the continued prosperity of the United States is not
"In the face of the unstoppable tide that is Bitcoin and decentralized finance, it is paramount that we, as a society, and particularly as citizens of the United States, recognize the critical crossroads we find ourselves. The trajectory of Bitcoin’s innovation and adoption will continue, with or without the active participation or understanding of any single nation. The question that remains is whether we will be leaders or laggards in this inevitable financial evolution."
https://bitcoinmagazine.com/legal/bitcoin-anti-totalitarianism