Elizabeth Warren Wants The Police At Your Door If You Have A Bitcoin Wallet \ stacker news ~bitcoin

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Elizabeth Warren Wants The Police At Your Door If You Have A Bitcoin Wallet www.zerohedge.com/crypto/elizabeth-warren-wants-police-your-door-2024-if-you-have-crypto-wallet

790 sats \ 12 comments \ @siggy47 27 Apr 2023 bitcoin

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74 sats \ 4 replies \ @ElectronicsQuestions 27 Apr 2023

I wonder if there will be some kind of Nuremberg-type trials if and when hyperbitcoinization has occurred. Dangerous people like her belong in prison, in my opinion.

15 sats \ 3 replies \ @kepford 27 Apr 2023

Very few people deserve to be in prison. I'd rather see her pay restitution to those she has robbed and harmed.

90 sats \ 2 replies \ @ElectronicsQuestions 27 Apr 2023

In such a scenario, she literally couldn't. The dollars she has would be worthless, and she has no useful skill. If she is forced to get a job that she can do for the rest of her life, what would that result? Maybe a current-value few cents equivalent per person she harmed, at most, probably far less, depending on how many it is. American financial legislation has a nasty habit of spreading to the rest of the Western world.

5 sats \ 1 reply \ @kepford 27 Apr 2023

You aren't wrong but since we are playing this hypothetical game. If this was the case many others like her would be in the same boat so you would have many politicians paying back those that they harmed. On a bitcoin standard even working in fast food would not be denominated in dollars. It would be bitcoin. And there are a lot of rent seekers so it could add up. Better than paying to have them sit unproductive in a prison. I'd rather save those places for those who are too physically dangerous to be among the population. We need to move away from violence. Cages should be the last resort.

0 sats \ 0 replies \ @ElectronicsQuestions 27 Apr 2023

True, there would be many. I actually erased the BTC value I wrote and wrote "current-value cent equivalent" instead, the reason being only that I don't know what value BTC would have in that scenario - massive, but I couldn't pinpoint it to within 2 orders of magnitude. (Using Knut Svanholm's formula, I don't know the value of everything, to divide by 21M.) I wouldn't trust that a person like her wouldn't turn to physical violence though, but that would have to be left to after the fact, as it should be. Innocent until proven guilty, unlike the assumption these people want regarding "money laundering" etc.

25 sats \ 2 replies \ @ek 27 Apr 2023

This means that any computer programmer entrepreneur who writes code to help customers control crypto investments from their phone — and to help keep the crypto secure from hackers — would need to register with the Treasury Department as if they were Western Union. Good luck with that, crypto startups.

What if I just write the code myself? And only use it for myself?

What if I give others code which writes code which writes code which then writes a wallet? lmao

3 sats \ 0 replies \ @kepford 27 Apr 2023

Honestly, this is quiet entertaining to watch these clowns out themselves as ignorant. The higher IQ enemies of bitcoin seek to manipulate and regulate vs. ban.

0 sats \ 0 replies \ @scottathan 27 Apr 2023

It's funny how often they try to put this "licenses to write code" idea. They've done it for critical infrastructure, for AI, and now for Bitcoin. How long will it take them to learn that we're better off establishing standards without their coercive regulations?

60 sats \ 0 replies \ @gnilma 27 Apr 2023

I highly doubt this bill will pass into law. Even if it does pass into law, have fun enforcing it on open source bitcoin projects. Laws like these only work on projects that are centralized and closed source; open source projects like bitcoin and many of its supporting / surrounding tools and infrastructure are extremely difficult, if not impossible to ban. Like many would say, "you cannot ban bitcoin, you can only ban yourself from bitcoin".

10 sats \ 0 replies \ @kepford 27 Apr 2023

lol. These stories just get more and more ridiculous. I say go for it. Lets just get it over with. I seriously doubt this happens as the smarter people in government realize doing this would expose their weakness for all to see. I could be wrong though.

21 sats \ 0 replies \ @TheBTCManual 27 Apr 2023

Lol good luck getting to my door, because it will be inside a citadel

1 sat \ 0 replies \ @KeynesianClowns 27 Apr 2023

This is just a modern example of what Hayek was talking about in his book "The Road to Serfdom" in the chapter titled "Why the Worst Get on Top" (referencing political structures). Great read discussing the dangers of centralization, and more specifically, planned economies.