Appears that Armstrong replied to our comments which I had forwarded to him in email. He summarized most of our arguments in a QUESTION. I have some quibbles with his response though:
My skepticism of cryptos becoming the world monetary system is a question of political power, not technology.
It’s okay to be skeptical, but you have logical errors in your thought process.
They have already done the same thing to Coinbase. They have declared Bitcoin miners to be financial institutions the same as they did with me.
You’re referring to the USA and maybe at most the G20. There are many other nations and jurisdictions where the laws are not as onerous. Bitcoin can be mined and spent globally so the cryptocurency economy will employ jurisdictional arbitrage to destroy the West and their nonsense. We already told you that and you put in your QUESTION to yourself, and yet you choose to ignore that fact.
FinCEN already declared that miners are exempt for AML/KYC. They had to do that because there’s no damn way the government can enforce their laws against miners because miners will simply pick up their hardware and move to another favorable jurisdiction. The miners will move if the government forces them to do anything that is onerous to their profits.
This idea that we can overpower governments and eliminate central banks may sound great to some and no central ledger. What you are really advocating is a single currency for the entire world that eliminates governments. Do you really think they will just stand down quiet?
They’ll kick and scream and we’ll ignore them. This is checkmate for that nonsense.
That is why cryptocurrency will force the nation-states to agree to a world government so that the world government had a ubiquitous authority to regulate cryptocurrency globally. And this is why it is quite clear that those who created Bitcoin are the ones who want a world central bank.
So much for your theory that there are no such global elite.
None of the big IT firms are backing blockchain. This is the reason. You cannot dance with the devil and expect to win – IMPOSSIBLE!
They will initially employ the blockchain in ways that don’t offend the politics and nation-state power. But decentralized entities will become more powerful than nation-states in the coming epochal technological shift.
They put me in contempt under the theory that a corporation has no such right and thus me PERSONALLY was never in prison on contempt, it was the corporate officer. They play with legal fictions to accomplish whatever they desire.
They do and they will. But it won’t help them against a decentralized global phenomenon. How many years hence and the USA can’t even nab Assange and Kim Dotcom. How the hell are those nincompoops going to stop 1000s of people leading crypto projects in every nation on earth?
I released ONLY because it made it to the Supreme Court. Without that, they would have killed me in the blink of an eye.
Again we empathize with what happened to you. And we want to see you as one of the elders of our tribe. But you need to stop running scared, recover from your trauma, and start to be more logical about what is happening now with decentralization.
Btw, I think they released you in part because you were no longer a threat. The banking and Russia thing had already been swept under the rug sufficiently and bringing you to Supreme Court would have just brought it out from under the rug again. You probably were also released because you started writing and had so many followers while you were in prison, which included myself.
Your cryptocurrency is whatever they declare it.
Incorrect. Our cryptocurrency is global. Their jurisdicKtion is highly limited.
I fully understand that many as desperate to cryptocurrency will overturn the financial system. It is just not going to be so easy or without blood in the streets.
There you go slandering us again. We’re not desperate. We’re extremely confident, and rightly so. You’re often looking more and more like a scared dinosaur to us when you make comments which ignore the facts.
Yup there will likely be blood in the streets, because this is an epochal shift and socialism will collapse. But cryptos provide a lifeline to those who are awake. We hope you wake up too.
EDIT: Here’s an example of jurisdictional arbitrage in action with an Argentine bank defecting from SWIFT (archived)!
RE: Bitcoin rises because land is becoming worthless