Bitcoin
$8,141.19 -4.47%
BTC · 1w

Permission from the State

[This recent thread](https://old.reddit.com/r/Bitcoin/comments/dtgtuj/fca_expanding_money_laundering_regs_to/) got me thinking. State over-reach nowdays knows no boundaries. From Australia having the audacity to attempt to ban/backdoor encryption, to the UK now pontificating that it knows better than anyone what software should and should not be written, and how. This measure is a grave threat (as if there were not enough around already) to personal freedom and to financial privacy. And it is no wonder, as there has been an orchestrated effort, very transparent to all but the most stubborn ostriches, to completely eliminate financial privacy, under the guise of "fighting tax evasion" and "fighting money laundering". The reality, of course, is quite different: the state is more interested in ensuring that its belly remains full, and is not above obliterating the financial privacy of millions to freely target and plunder as it sees fit. Financial privacy then, even though it has been the standard for thousands of years, represents a giant obstacle to this objective. With the latest move, the UK government is now asserting that even for peer to peer trades, the state middleman must be there, quietly snooping on every transaction. And not just that: It wants to require software developers to betray the privacy and safety of the users of their programs (whom they don't even know, and don't care to know) by undermining the software, making it report live data to the government. We must see this for what it is. A totalitarian play, a test. How long, should this come to pass, until demands for encryption backdoors grow louder once again? After all, if any transaction you make could be terrorism-related, then why not every site your visit, or every conversation you have? Is the principle not the same? It is absolutely appalling that the UK government - any government - would attempt something like this so candidly, without shame. That alone tells us a lot already....
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