So, I am thinking this case against the Samourai founders could backfire against the DOJ. They could lose outright and this could actually legally affirm self-custody, and remove legal jeopardy from coders.
Wishful thinking?
From Nostr post:
https://primal.net/e/note1ja8zk3rex9at7yjqygkjgntccj9pzrath9fqqmgsht5mx5v0ftcqk4qpju
No, you are right this case is even worse than the Tornado Cash one and honestly, I didn't even think it could get worse. This is also going to further weaken the SEC due to the blowback as well
I doubt that. The SEC is arguing a very different case completely unrelated to Bitcoin.
They really actually go hand in hand due to how they are leveraging the law via Chevron Doctrine which the Supreme Court might be striking down. Anymore bad PR on that front will help tilt public opinion against it further.
Oh, it could get much worse. It is highly likely to get worse before bitcoin wins.
I mean BTC already beat the asset charge so BTC itself has really already won most of the case. The rest of crypto is in deep shit with asset charges
Oh no doubt!
Ready?
https://m.stacker.news/28764
Don't know if I will ever be ready but I'm preparing. I hope I'm wrong.
great attitude!
If this case stands, they will have to confirm that BTC is a currency. In that case its taxation must change, because now they're treating it as property. More specifically, the I.R.C. § 988(e)(2) tax reporting and liability exemption per currency transactions less than $200 must be allowed.
This could be the greatest outcome of all.
It is in the interest of all whales to well fund the defense of this case.
That would be awesome but I've read elsewhere that this is not the case. IE, the use of the term currency or money in this context is not the same as what you are talking about. I don't know but I do know it wouldn't be the first time this week that the state contradicted itself and didn't call itself out on it... The main issue with what you are saying is assuming people in power care about the law or being consistent.
That said, good legal efforts could force the issue even if they do contradict themselves. In the end we will win because we are on the side of right. We may be all dead by then but I firmly believe bitcoin wins.
>the use of the term currency or money in this context is not the sameCan you provide a reference for that? I'm very curious.
I wish I could. There were so many people providing info last week on this. One was stating that money laundering doesn't just include currency but also could include assets. I'm not saying they are correct btw. Just something I read someone else say who claimed to know... so take it with a grain of salt.
Art and real estate are known laundering avenues.
Agree 💯
Y'all are missing the easily demonstrable claims:
Spear Phishing & Server Intrusion.Spear Phishing & Server Intrusion.
Smashing the website was icing on the cake for DOJ.
spear fishing?
Yah, it's in the indictment. Strangely, it's being ignored by everyone.
https://www.justice.gov/usao-sdny/media/1349321/dl
(I tried to screenshot the PDF but browser is doing some weird shit... so I deleted my original reply)
deleted by author
The defendants could also take a plea deal, to avoid years in prison.
I think the whales should fund this and avoid settlement, in their own interest and in the interest of bitcoin. Although it's possible that the fed has some personal dirt on the founders and they blackmailing them into a settlement.
This!
Only off they have them on something. The thing about the Feds is they usually have you on something.
That would be good, but then there would be retrials until it reaches the supreme court.
Another way to say it may be bad both ways. DOJ raised bets very much because node runners may be easily outlawed.
We might be good there.
this and the tornado cash case will drag out for years with all the legal manoeuvering, appeals etc. we won't know outcome, whatever it is, for a long time. just have to patiently wait
patiently wait for outcome.
not wait to see whether we are allowed to build and use freedom respecting software. we should do that every day.
https://m.stacker.news/28781
good point
I'm hopeful this is the case. Unfortunately, the Roman Sterlingov situation has kinda tempered my expectations.
This thought has crossed my mind as well. With the right attorneys and the right strategy maybe this is possible.
Maybe this is the way!