Cryptocurrency: FINCEN Labels All Crypto Users, All Privacy, As Patriot Act Terrorist Criminality, Vows Shutdown and to Arrest Coderpunks

[grarpamp]

USA Govt about to get rude awakening,
crypto doesn't five a fuck about Govts and their "regulators",
and crypto is now developing privacy even faster and harder.
Good luck trying to cancel free distributed speech, you fucks.

https://www.youtube.com/watch?v=xWAwK2fHArc

https://mchenry.house.gov/uploadedfiles/bitcoin.pdf


FinCEN is proposing to apply section 311 of the Patriot Act against
basically all types of crypto privacy, including on noncustodial
methods.

https://www.nobsbitcoin.com/fincen-wants-to-outlaw-certain-bitcoin-on-chain-transactions/
https://www.federalregister.gov/documents/2023/10/23/2023-23449/proposal-of-special-measure-regarding-convertible-virtual-currency-mixing-as-a-class-of-transactions

FinCEN Seeks to Impose Strict Surveillance Requirements on Bitcoin Mixers
The agency proposed designating 'crypto mixing' as an area of “primary
money laundering concern" in order to impose certain recordkeeping and
reporting requirements on involved transactions. The...

Proposal of Special Measure Regarding Convertible Virtual Currency
Mixing, as a Class of Transact...

FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to
section 311 of the USA PATRIOT Act, that proposes requiring domestic
financial institutions and domestic financial agencies to...

Notably, if successful (it is still in the proposal phase), it would
be a big extension of their mandate to apply that section to a “class
of transactions” rather than to any particular custodial entity.
Certain types of math/software would become illegal/sanctioned.

I don't see this standing up to first amendment scrutiny. The
publication of software in this area is specifically designed to be
untraceable and run from anywhere. As the tech improves this sort of
entity becomes irrelevant.

And so it begins. The battle is upon us, but we already know how this
will end. Freedom and #bitcoin will reign supreme and usher in a
bright orange future. The sun is rising, and theres nothig the night
can do about that.

All I can say is good luck with that. It won’t work this time. They
woke the people up with NSA. Bitcoin will prevail.

For bitcoin to survive even a global coordinated crackdown (a worst
case scenario), it needs only a handful of small jurisdictional
footholds globally to form a decentralized base around, and they stand
to profit.

When the world turns to chaos, jurisdictions that attract assets and
maintain continuity tend to have oddly profitable outcomes.

Old school money transfers (banknotes and coins) were private. The
past several decades have been surveilled, especially since the 1970
Bank Secrecy Act and ramping up with the 2001 Patriot Act.

Cryptocurrency rightfully restores privacy to all the worlds peoples.

I don't think people realize the power of this ecosystem. It's a new
money, it's a revival of Austrian economics, it's a tech religion,
it's a peace movement, etc. It's a tool that empowers many things,
each of which are powerful.

If this protocol is successful for centuries, this is literally how
religions are born. People often say Bitcoin is a religion,
negatively. But really, parts of it are a religion, or at least a
movement. If it gets just 27 million adherents, it's arguably specific
religion #6.

Bitcoin was built as an open source decentralized project to survive
regardless of who the creator was. The departure and the absence of
the creator only made it *more* decentralized since it removed any
sort of ultimate authority, and it iterated from there.

Even if Satoshi is the NSA, people should have evidenced it by now. A
man can be killed, embarrassed, or shown to be weak. An idea lives on
and becomes a legend or a god. It's his material that matters.