TOTAL EVIL: 20 Bitcoin Companies Are Backing a New Digital Identity

The bastards want to track us completely.

CoinDesk reports:

The Windhover Principles aim to reframe the debate around privacy, security and transparency. All entities that have pledged to the principles have vowed to support measures that will empower companies and consumers with the ability to better guard their financial information, while respecting the law enforcement need for anti-money laundering (AML) and know-your-customer (KYC) protections.

Though lofty, ID3 plans to work toward this goal more concretely through its Open Mustard Seed (OMS) software platform. The infrastructure will seek to allow Internet users to create a form of cloud profile that can be verified and securely accessed by any financial company or regulator that should require it, but where the ultimate ownership belongs to the individual...Ripple Labs chief compliance officer Karen Gifford, who helped author the framework, told CoinDesk that the wide support for the principles shows that the bitcoin community is beginning to galvanize around the subject of identity.

Got that?

" respecting the law enforcement need for anti-money laundering (AML) and know-your-customer (KYC) protections."

"The infrastructure will seek to allow Internet users to create a form of cloud profile that can be verified and securely accessed by any financial company or regulator that should require it..."

Who is behind this ultimate tracking machine? All the big players:

including market leaders like BitPay, Bitstamp, Coinsetter and Ripple Labs.

It is time for libertarians to run from Bitcoin. There is no good that is going to come out of it. It is the exact opposite of the way a libertarian currency should operate. A true libertarian currency should be untraceable and not record your history of currency activities, Gold does this. Indeed, even paper money does this to a degree. Bitcoin does not.

-RW