Friday, October 23, 2015

Bitcoin Moving in the Direction of Total Evil

Perhaps the latest news from Bitcoin Magazine will stick a dagger in the heart of those who still consider Bitcoin some kind of magic currency that will allow users to operate unscathed, beyond the reaches of oppressive government laws.

Bitcoin Magazine reports:
A group of prominent Bitcoin companies and individuals under leadership of the Chamber of Digital Commerce and Coin Center have formed the Blockchain Alliance, a Washington D.C.-based nonprofit that will serve as a resource for law enforcement to help combat criminal activity involving bitcoin and the blockchain.
 The Blockchain Alliance is so far engaged with the Department of Justice (including the FBI and the U.S. Marshals Service), the U.S. Secret Service, Immigration and Customs Enforcement, Homeland Security Investigations and the Commodity Futures Trading Commission.... 
So far, an extensive list of Bitcoin companies, individuals and institutions have joined the Blockchain Alliance. Apart from the Chamber of Digital Commerce and Coin Center, this includes Bitcoin XT and former Bitcoin Core lead developer Gavin Andresen; Bitcoin Core developer Jeff Garzik; MIT Media Lab’s Digital Currency Initiative head Brian Forde; bitcoin exchanges BitFinex, Bitstamp, Coinbase, itBit, Kraken and CoinX; payment processors BitPay and Bitnet; wallet services Blockchain(.info), Circle and Xapo; API-provider BitGo; mining specialist BitFury and liquidity provider Noble Markets.
Jason Weinstein will serve as director of the Blockchain Alliance. Weinstein has a track record in the regulatory and digital payments space, as a former deputy assistant attorney general in charge of cybercrime investigations at the Department of Justice.
Bitcoin is an extremely trackable means of electronic exchange. The industry is being taken over by those who have an incentive to cooperate with government and make it even more trackable. It is time for those who promote Bitcoin as a magical too,l on the road to a libertarian society, to admit they were wrong and move on.

Cash and gold are much superior mediumsof exchange for those who consider privacy important.

-RW
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2 comments:

  1. Yawn. All these companies now go on my blacklist. And bitcoin don't care. It functions quite well without any of their services. It is these companies that have turned evil. Bitcoin, like all sound money, is agnostic and controlled by no one.

    You really should stop insistently knocking down mainstream-mindset strawmen as expounded by talking head local news personalities 5 years ago. In other words, no one with half a brain thinks Bitcoin is anonymous. Libertarians, who have more than half a brain, never did. We just appreciate sound money that can be exchanged at distance. The merits and value of which seems to escape you.

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  2. Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency.

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