US financial watchdog fines early Bitcoin mixer $60M for money laundering - US (soon other countries) are coming down hard on Bitcoin mixers/privacy tech - These guys are relentless & complete hypocrites.
Sure, the centralized services are an easy target, however there are many other ways to mix your coins. Using CoinJoin on Wasabi/Samurai/Join Market is trust-less & decentralized. It's going to be near impossible to enforce laws on this tech due to it's distributed & open-source nature. Crazy part is, the majority of people who CoinJoin Bitcoin will still continue paying taxes (even though we all know it's pure theft). Wanting privacy shouldn't be a crime.
Privacy is a basic human right, please don't fall for this propaganda. US Banks just got caught laundering trillions (with the help of the government). They expect everyone to play by the rules, when they're constantly breaking them. Personally I struggle with this; all we can do is continue to exit the dollar to Bitcoin & slowly deny them power. Bitcoin is a peaceful protest, it's time for plan b.
Monetary Stability: The IMF and Fed Chair Jerome Powell Discuss Digital Currency Implications - Most people think Bitcoin is competing with PayPal & Visa. Bitcoin competes with money itself. It makes central banking redundant. It's characteristics make it harder money than gold. There is no group of people manipulating or controlling the money supply. Central banking is responsible for most of the problems in the world today. Bitcoin is based on math & code - it's vastly distributed network of users continually secure the rules which govern it. Decentralized means - no central point of control.
In the beginning, governments weren't threatened by Bitcoin, they probably laughed at it. They took advantage of it's transparent nature and heavily enforced it with KYC/AML laws (Know Your Customer/ Anti-Money Laundering). The privacy tech is improving & Bitcoin is seeing a lot more institutional & corporate interest; in my opinion, they're starting to panic.
They want to get these CBDC's (Central Bank Digital Currencies) out there, before the Bitcoin movement gets too strong. They're probably thinking that CBDC's are their last chance to remain relevant. What they should be doing; is buying as much Bitcoin as they can. They just can't see it's game theory incentive yet. We currently have institutional/corporate FOMO, the government/central bank FOMO will come. The jokes are on all of them though. Bitcoin is much more scarce than they think; their time is running out.
CBDC's will only make the money problem worse. It will only further diminish human privacy & rights. We need to all come together & evangelize Bitcoin to our friends & loved ones - spread the good word. Once you do enough research, you'll see Bitcoin is the best future we got. They keep talking about a reset - no thank you! Bitcoin allows a transition & hopefully a relatively smooth one - I'm hopeful, but not overly positive this will be the case.
At the end of the day, I strongly believe Bitcoin will eventually win the currency war; in my mind it's already the clear victor.
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