The United States has Bitcoin firmly under a microscope. From ledger data, server traffic, hardware and software penetrative capabilities, network intercepts, and it’s all fresh off the presses. There’s more to it than that, especially since I’m a tech expert, however, I want people to read this very important information, not lull themselves to sleep on some boring techno-academia, so we’ll go light on tech and heavy on governmental burden, and this one shall be just fine.
This War on Bitcoin gets worse. This war is in the name of combating terrorism through illicit Bitcoin use. ‘Merica is bringin’ down the hammer on cryptos.
Goldbugs and silverbugs rejoice: we live to fight another day. Our powder is dry, and regardless of what happens, the gold and silver you can reach and touch at a moments notice, it seems, right now, is better than any digital, un-backed fiat currency that depends on a complex system prone to outages and failures. Yes I get it. People say “it’s backed because it is digitally mined, solving complex math problems that prove it has to perform math to mine. This is indeed true.
However, what about an illiterate old man who can go grab a pan, wade in the shallow waters by the Oroville Dam, and come home with a gram or two of gold? That has real value. So how does an illiterate compete in the digital world? Well, discriminating bitcoin, and all crypto for that matter, requires a person be highly proficient in computer use and maintenance to begin mining, and even if one has all those skills, an entry level bitcoin mining rig will be very expensive.
The rig will need some serious graphics cards, beefy ram, nasty processing speed, and a jumbo super-duper power-supply to run 24/7 X 365, with no guarantee that it will ever mine a coin. It’s all super-computers with teams of hundreds if not thousands of people and computers all crankin’ out the algorithms in hopes to mine the next coin (round, since the word “coin” is exclusively reserved for the sovereigns.). So it really should be a no-brainer the government just declared war on bitCOIN. Ooopsie, they forgot about that one, and now all the URLs, webpages and YouTube channels are set-up. There just gonna have to roll with it. And we see where that has got them.
In fact, in the most strictest, most hardcore, bitcoin purist-advocate kind of way, every single extreme bitcoin proponent or user must be an anarchist, as they seem to have no problem with snagging the term out of the domain of sovereigns. I mean, goldbugs and silverbugs take a lot of heat, and buy a lot of tinfoil, but we do not, ever, consider trying to be something we are not. We have our rounds, we have our bars, and we have our silver exotics. like he silver army men.
We understand that “coins” are reserved for the sovereigns. “Coin” is something that is sovereign. Period. And as difficult as it is for some of us to accept that, we do it anyway, because in the end, we must strive for freedom and liberty, and we chose our battles carefully. Maybe the crypto thing will take off, and I’m not a betting man, but I would bet that bitcoin doesn’t want to take off, out of the shadows into fascism, only to resort to the full blown decentralized currency of anarchy. So while they do not admit it, the bitcoin crowd is understanding all of the reasons we have been advocating for in gold and silver. That is, the personal, physical ownership of gold and silver, above all else, and with nobody to come with a claim on you or your gold and silver (copper can come along too!).
There is inherent duty, pride, and opportunity. With this latest US government targeting, like, MOAB style, We’re gonna have to call it BITROUND. You see, “Coin” is an exclusive club word, and the private, secret, discreet, anonymous, decentralized, deep state type of some nasty grimy rabbit hole, and I plead you not to go down that path.
Bitcoin would need to be an official fiat currency of some nation, and if that is the case, bitcoin might as well be just selling bitcoin gift cards for Starbucks or Jack-n-The-Box. But the question is valid. Bitcoin is up against the club, and with the whole “decentralized” meme, even though bitcoin is anything but decentralized, seems like the cryptosphere is screaming that bitcoin will have no stake in the National Club of Sovereigns?
So for now, I challenge all of you, not to call it bitcoin, but to call it bitround, and all lowercase. Capital “B” is a product, like Nike or Stride-Rite, but lower case, like dollar, is a unit of measure. So embrace bitcoin. Ready – Set – GO!
And since the dollar just declared war on bitcoin as nobody was noticing, here’s a recap, via Zero Hedge:
While all eyes were distracted with the Trump-demeaning headlines of the foreign sanctions bill, few spotted the hidden mandate that foreign governments monitor cryptocurrency circulations as a measure to combat “illicit finance trends” in an effort to “combat terrorism.”
As Coinivore reports, the bill requires the governments to develop a “national security strategy” to combat the “financing of terrorism and related forms of illicit finance.”
Governments will be further required to monitor “data regarding trends in illicit finance, including evolving forms of value transfer such as so-called cryptocurrencies.”
According to the bill, an initial draft strategy is expected to come before Congress within the next year, and will see input from U.S. financial regulators, the Department of Homeland Security, and the State Department.
The bill calls for:
“[A] discussion of and data regarding trends in illicit finance, including evolving forms of value transfer such as so-called cryptocurrencies, other methods that are computer, telecommunications, or internet-based, cybercrime, or any other threats that the Secretary may choose to identify.”
Interestingly enough, Coindesk reports, “the new bill echoes another submitted in May as part of a wider Department of Homeland Security legislative package.” That measure, as CoinDesk reported at the time, calls for research into the potential use of cryptocurrencies by terrorists.
Like the DHS bill, the new sanctions law doesn’t constitute a shift in policy, but rather indicates that Congress is taking steps to explore the issue more closely.
Just more examples of the U.S. government trying to impose its will upon other nations and citizens who never lived there, as witnessed with the arrest of Alexander Vinnik in Greece, BTC-E’s alleged CEO according to the Department Of Justice.