Oddbean new post about login | logout The broad crypto industry rallied hard soon after the White House threatened to veto the bill that would let banks custody digital assets. And now it’s making a big difference, with Congress voting strongly for it, the White House pulling their veto threat, etc. While it’s right to pass that bill and let banks custody them if they want, it’s sad to see that the crypto industry response to that was like 100x bigger than the response to all of the anti-privacy stuff that has been happening. The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general. Much love to all those building and supporting real freedom tech.
That’s exactly why I dug through all my saved information on privacy (2) days ago and started updating my blog on the latest for Bitcoin privacy-related stuff. We’re squandering a big opportunity to take advantage of pushing the privacy narrative back to the front burner.😎
The broad crypto industry rallied hard soon after the White House threatened to veto the bill that would let banks custody digital assets. And now it’s making a big difference, with Congress voting strongly for it, the White House pulling their veto threat, etc. While it’s right to pass that bill and let banks custody them if they want, it’s sad to see that the crypto industry response to that was like 100x bigger than the response to all of the anti-privacy stuff that has been happening. The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general. Much love to all those building and supporting real freedom tech.
We may be losing the plot. There are 2 discernible camps: Privacy + Permissionless network on one side, and NGU on the other. The latter helps make the asset more attractive to institutions, but also is a soft capture because everyone gets addicted to NGU and wants the political winds to help NGU, even if the trade off is that we have to trust them and ask for their permission. Worries me a lot.
The Cypherpunks had a strong ethos around the idea that asking the government for privacy protection was a waste of time. I wonder if that was actually true. Perhaps it was a mistake. In the United States, there might be a few people in leadership who understand history well enough to know that the "free United States" they claim to fight for cannot exist going forward without privacy, particularly cryptography and online privacy.
"The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general." Not everyone in this space wants to make the world a better place. Some just want to make their lives better tomorrow and don't care about their future or even other people. Me, I'm in it for the tech. In it for the financial revolution. In it for the freedom. nostr:note183t46pq2w7ewxrn0vxnqs02nematj27wuz402pj0lsvusxy5nn2q9e8n8p
A great example of why incentives matter. "Fix the incentives. Fix the world." nostr:nevent1qqsrc46aqs980vhrpehkrfsg84fua74e908wp2h4qe8lcxwgrz2fe4qpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqzyr4tpe6k6v4cp0x5vneas39cqspsxp66z04tcdve5a3vntr6hy057qcyqqqqqqgcj283w
"The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general." nostr:note183t46pq2w7ewxrn0vxnqs02nematj27wuz402pj0lsvusxy5nn2q9e8n8p
You knew words. The world is still a strange place, where paper money needs to exist and be printed - for the continuity of singular and illicit movements of power and attempt at sovereignty. It will be inevitable for humility, in order not to fail, to understand how the freedom of money needs to be, circulate and expand.
Most pro-freedom people have no clue what it takes to enforce personal freedom. Ask any American with a gun.
Bitcoin Custody for common person is impossibly hard .. if banks participate in this eco system , its actually decentralisation of custodians .. I am not limited to say coinbase or cash app now .. As for privacy , there are enough privacy tools for those who seek it . Bitcoin is public ledger by design .. Both are anyway not linked ..
We need to start blaming ourselves for these political issues because they happened because we all stood by and did nothing. Article V of the US Constitution provides us a means to deal with our corrupt Government, but we need to get active about it. https://conventionofstates.com
Why people want to get into bed with the enemy I will never understand. Apparently they are in this for the wrong reasons and still hold a fiat mindset which will just push back how long it will take to be on a truly BTC standard.
I often worry that the general masses won't care about privacy until it's too late. Any time I talk about it with friends and family, I get responses along the line of sarcasm or the occasional "we don't have to worry about that here"
It is already too late, people can't wake up fast enough to fix it.
Well aren’t you and @saylor part of the people in the industry to help pump their bags ?
I’ll take this win and focus on freedom tech next!
Then you'll always be taking the temporary wins and waiting for someone to deliver you freedom tech. 😢
I get it. But What’s that saying about Rome being built?
Rome wasn't ever built because it wasn't going to take a day, but there were so many other things we could be accomplishing and celebrating that did take a day so... We never got it done?
I think we can. The good thing with tech is that it will take a months/years vs entire generations to build something incredibly impactful.
Acute observation about imbalanced priorities in this industry nostr:nevent1qqsrc46aqs980vhrpehkrfsg84fua74e908wp2h4qe8lcxwgrz2fe4qppamhxue69uhkummnw3ezumt0d5pzp64suatdx2uqhn2xfu7cgjuqgqcrqadp864uxkv6wckf43atj860qvzqqqqqqy0xkh7v
Also if it pumped because of US politics, it's yet another example that US have still way too much influence on Bitcoin (and crypto) as well as the whole finance in the world. Hopefully moving to the Bitcoin standard will reduce this influence and spread it out to other regions and populations.
#Bitcoin is already captured by the military/corporate/industrial complex of USA.
Maybe i should say the price of #Bitcoin not #Bitcoin itself
yeah? how so? They don't seem to be able to control what software I run on my node so I'm not sure what makes you think that.
Always has been .gif
As expected
What is your take on Monero?
Lyn doesn't fuck with monero.
It takes a gross violation of privacy for these individuals to care. What if someone posted all the financial transactions of all the bank ceo’s, media ceos, and politicians? How big of a reaction would it be?
It wouldn't happen. The letter agencies would put a bullet in the back of that person's head before they could press "post".
Unless…
Let me get this straight. . . . You feel it's "just" and "right" for banks to be able to custody an asset they've been spending more than a decade mocking, ridiculing, harnessing, and coercing the shit out of with non stop FUD? Literally, financial parasites who are part of a squadron in cahoots with illegitimate governments around the world hellbent on keeping their knees on the back of our necks?
I share in this sadness. People are still stuck in the old world counting their pieces of fiat paper. Meanwhile in the new world being able to use Bitcoin privately is becoming harder—and worse still, it is not because of technological limitations but because the US government has taken to the warpath to make Bitcoin privacy illegal.
trojan horse/wait 4 it
14 years ago today, a guy ordered 2 pizza's, and paid for them with 10,000 #Bitcoin I wonder how he's feeling today At some point, people will realise that they have more to fear by not embracing #Bitcoin than by embracing it. You can easily 100x your portfolio this period with the passive arbitrage signals following the recent bull run. If you’re a fan of #bitcoin and you haven't join the rebelcapitalist (RCL) yet then I don’t even know what you’re doing here! Vip group: https://t.me/rebelcapitalistshow
There is a Privacy Complacency problem in Bitcoin, crypto, and the world. nostr:note183t46pq2w7ewxrn0vxnqs02nematj27wuz402pj0lsvusxy5nn2q9e8n8p
Did you see the provision in fit21 that limits retails ability to buy crypto to 10% of their income? Page 52 - https://www.congress.gov/118/bills/hr4763/BILLS-118hr4763rh.pdf
Banks and ETF custody is good for Bitcoin adoption. Grandma is never going to want a Cold Card.