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The treasury is expanding the Patriot Act to attack Bitcoin self custody

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Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#161

Bitcoin maximalists are learning that having a non-fungible and fully traceable ledger might be a problem. Even Satoshi called this out! As is, BTC is somewhat of a privacy nightmare. All of your transactions are on the public ledger for anyone with basic knowledge of statistics to correlate and see all of your transactions. Blockchain Analytics is big business! All the things the Treasury is considering to be "suspi…

If Monero ever came close to Bitcoin's popularity, it would be outlawed. Plain as that. You can't get freedom through technology.

Monero has already been delisted from relevant exchanges last year because "reasons".

The main website that matched people to trade fiat for monero (localmonero) got closed recently because "reasons".

It is pretty popular and outlawed since a while. Basically the only relevant crypto currency used for purchases on the street since several years now. You can look up the number of daily on-chain transactions and tends to be on top every day.

You likely would only notice this if you need to donate money for someone with the wrong opinions or live at a non-aligned country.

Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#163
post #158

Earlier quoted context omitted.

There needs to be something like the federal equivalent of a referendum. I think with that, it would be possible to get rid of the patriot act and legalize weed, both of which seem to have popular support but zero chance of majority of representatives backing because they don't want to be liable for the worst-case corner-cases in the aftermath.

We are constantly voting in primaries and general elections. We vote in federal elections every two years, state elections generally at least as frequently, though often not in federal election year. We vote for mayor and city council and insurance commissioner and Secretary of State and county commission. We don't need a referendum, we just need to choose representation that wants the same things we want. (Alternate…

By referendum I meant to be able to vote directly on a specific law.

If you look at how weed was legalized, it required a referendum in many (most?) states because no representative wants to be the guy that has his face plastered everywhere when some kid dies after he smokes some legal weed and smashes into a pole, even if most his constituents wanted the policy.

Representatives generally have to be risk averse to get to the point they can even represent people on issues. This means they are extremely reluctant to vote for anything that might come back to bite them somehow, even if it is popular.

>Alternate formation: Americans do not want these things as much as some of us think they do

There is extremely overwhelming evidence that a supermajority of americans have wanted medical marijuana to be federally legal for many years. And overwhelming evidence the representatives have not been successfully bringing that forward.

Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#165
post #96

Earlier quoted context omitted.

If only there were some sort of loud opposition to this act, predicting exactly the situation we're in today. Our elected representatives would have had to take a hard look at this and reject it due to its danger!

[flagged]

Ideologically we're probably quite aligned. However I disagree with you. Having traveled a lot of the USA, I've found Americans to be surprisingly much less racist than I expected.

Absolutely there are nests of racist snakes, the KKK still continues after all and we have out and out nazis like Nick Fuentes getting page time in the NYTimes, so something is rotten in that country. Even still, compared to my travels throughout Europe, the USA has something unique about its diversity. It does seem like there's something different about the American identity superseding race and religion.

Compare to a country where your statement might be true, insomuch as it's a massive population of practically lost-cause racists: Israel. I've had several conversations with Israelis and my main takeaway is that the government has spent the last couple generations doing its utmost to convince everyone in the country that the planet is a zero-sum ongoing tribal war. The racism there is ingrained not just into the culture but into the law.

Having met people like that, I tempered my aggressively leftist America takes. America has issues but I've encountered way more flagrant and disgusting forms of racism in a year of travels through Europe than I did in decades of travel in the USA. I feel like I didn't know what racism really is until I left the USA.

Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#166

I always wonder why monero isn’t more popular?

Overton window. There is a lot of funding for youtube influencers to play with casino coins that are transparent and traceable. Those are basically looking for "money goes up" and don't really care about the crypto part.

Monero is only on the news for negative reasons when someone tries to bring it down or delists from yet another exchange. There isn't funding to make it popular, which I guess in the end it is really up to Monero users from pushing it up.

Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#168
post #156
post #113

Earlier quoted context omitted.

If the law has expired, how do they "expand" the law? I am confused. Did they refer to the wrong one?

I believe you have misread the comment. In 2015, it was expanded and extended until 2019. After that, it was allowed to expire and was not extended or expanded further.

My comment refers to the original news article:

> The Treasury Is Expanding The Patriot Act To Attack Bitcoin Self Custody

Re: The treasury is expanding the Patriot Act to attack Bitcoin self custody

#170

Bitcoin maximalists are learning that having a non-fungible and fully traceable ledger might be a problem. Even Satoshi called this out! As is, BTC is somewhat of a privacy nightmare. All of your transactions are on the public ledger for anyone with basic knowledge of statistics to correlate and see all of your transactions. Blockchain Analytics is big business! All the things the Treasury is considering to be "suspi…

If Monero ever came close to Bitcoin's popularity, it would be outlawed. Plain as that. You can't get freedom through technology.

You are being downvoted, but you are correct. I am east european and I know how hard the fist of the State hits. Sometimes I think westerners see technology like some special moves that you can quickly combo so you can defeat the evil boss at the end. No, there are no special moves, just a boot stamping on a human face -- forever.
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