Live data from Hacker News

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

tftc.io

301–310 of 611 posts

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

#301
This is pure click bait that relies on a deliberate misreading of a 2023 notice [1] that tries to imply that "self custody" is being attacked in any form.

All that this is saying is that the government will try to track money movement to pursue criminal activity, including, unfortunately the criminal activity of moving money in a way that looks sketchy. This is something that we have decided we have to live with.

[1] https://www.federalregister.gov/documents/2023/10/23/2023-23...

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

#302

Earlier quoted context omitted.

If you've got nothing to hide, you have nothing to worry about! Nobody will ever run afoul of the system or fall through the cracks. We only have the best and brightest bureaucrats who won't make mistakes. Nobody will ever be attacked with this for politicized reasons. This will never be used to debank or isolate or penalize or attack an innocent person. And even if it did, the government would never use its immunity…

> If you've got nothing to hide, you have nothing to worry about! We curtail commercial speech relative to political speech to protect against fraud. Regulating financial activity is deeply precedented, especially in contexts where whether it's an individual person or group of people is ambiguated.

Observationist forgot to add a /s to the end of their comment

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

#303

[flagged]

It’s worse than that. Roe v. Wade associated privacy with abortion in the US, so the Supreme Court eliminated the right to privacy as part of the decision to overturn Roe v Wade.

Mere criminality wouldn’t put privacy in such an indefensible position. Look at who’s president.

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

#304

Earlier quoted context omitted.

>I feel like I can't possibly live in the stupidest era in world history. Your statistical intuition is sound, and while there are many historical sources describing very stupid events (VSE) dating as far back as recorded history, it is difficult to appreciate the outer bounds of the stupidity range because what has been written is a small fraction of the history that people have lived for at least 100,000 years. So…

I think the speed at which the impact of stupidity can spread in current times is unrivaled throughout history, though.

I think what's more important, is that you have a device that will broadcast you a personalized feed of whatever the most engaging stupidity in the world is, at that very moment, 24/7. The magnitude of this passive exposure is far greater than even the rate of spread.

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

#305

Earlier quoted context omitted.

Even if you accept those premises, reasonable people would expect limits on the power of the state to infringe upon property rights, even when backed by a popular majority. Furthermore, the principle of individual self-ownership is a key starting point for modern, liberal ideas of law. Of course you are free to reject those premises, but I would characterize that as authoritarian rather than obvious .

Both should be limited. Almost everything should be limited. Deciding the limits is called politics.

Political solutions are often messy and complex. Pragmatic fixes are rarely obvious and overreaches are common. Reforms are ongoing. Conversely, absolutists have no use for nuance.

The war on cash is a good example.

https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United...

https://ij.org/federal-court-rules-in-favor-of-convenience-s...

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

#307

Earlier quoted context omitted.

> was it always this stupid? Excellent question. There are two easily readable sources I know of covering historical events of the sort you're asking about. The first is Barbara W. Tuchman's The March of Folly: From Troy to Vietnam , where the entire premise is that stupid people did stupid things and then doubled down on stupidity as they went along. The second is Eichmann in Jerusalem: A Report on the Banality of E…

> stupid people did stupid things and then doubled down on stupidity as they went along. You might like this review of the movie Civil War. Very well thought out review. Alex Garland's CIVIL WAR has a clear and simple meaning https://www.youtube.com/watch?v=sWBzZJxhQtY

That contrasts well with how most of the media present events as somehow well thought out and considered. Many stories somehow manage to make even the most unhinged, word salad rants into thoughtful position statements, followed up with a bland bit of "other side" objection.

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

#308

Earlier quoted context omitted.

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 ge…

>If you look at how weed was legalized, it required a referendum It only required a referendum in some states because most US states are controlled by Republican governors and legislatures who openly defy what their own constituents want without fear of being voted out, because republicans vote republican no matter what. Republican voters will say "I want to legalize weed", their elected representative spouts literal…

The federal government is currently controlled by Republicans, so it seems relevant regardless of whether you think they should be in power or not, no?

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

#309

Considering how they're clamping down on anonymity wherever they can, crypto wasnt going to escape their clutches for very long. How long before its seperated from it original aim and just turned into a gambling token.

Sounds like the cryptobros are about to have their turn with the Trump leopard eating their face...

They didn't care when he personally rugpulled them for billions, why would this disrupt their sycophancy?
Post reply on HN