The United States Government is Attacking Bitcoin and Self Custody - What to Do!
Hey SatsCrew,
Over the past day, it has been very difficult to see what is happening to Bitcoin Self-Custody. At the end of the day, we should have rights to our financial sovereignty.
We are seeing time and time again the government's scope creeps more and more into the surveillance state that will reduce or eliminate American freedoms, while concurrently giving more and more power to the U.S. government.
In this podcast, I try to explore what is happening to our ecosystem, and the downstream impacts of what this means to individuals.
Podcast Topics Include:
- Samourai Wallet was recently charged with running an unlicensed money-transmitting business that executes unlawful transactions
- This is a full self-custodial wallet… For writing code, the founders face 20 years
- The U.S. is currently under full attack of our First and Fourth Amendment rights
- Why? First is freedom of speech - and code is speech
- Second they are under attack of our Fourth Amendment rights of unreasonable search and seizure alongside financial privacy
- Chains of spending (creating a new address- through Ricochet) is what is being determined as illegal. So you can’t create new addresses and send them to yourself.
- They claimed Samourai as a money-transmitting business and had an obligation to apply KYC/AML regulations to their users
- What the U.S., Europe, and other places are trying to do, is make it so you can’t self-custody anymore
- Well then what is the point of Bitcoin anymore if it is sitting on a centralized ETF or Coinbase or somewhere else?
- It is essentially just paper bitcoin, and we are back at the Fiat system ALL OVER AGAIN!
- They are pushing so self-custody tools are money transmission services, and this case is so damn important because it will set the precedent for self-custody in the U.S. THIS NEEDS to be won!
- What is the alternative if Bitcoin loses? That is right - fiat cuck bucks which will turn into a CBDC Nanny state
- We must build, we must fight and we must speak for what is right in this world!
Best Regards,
SatsMate
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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