US Congressman introduces Bill to protect Americans from what is happening in Canada
US Congressman introduces bill to protect self hosted wallets
In what is becoming a major advertisement for bitcoin, Canada has decided to go full authoritarian in its people by freezing bank accounts and revoking licenses etc. relating to the Freedom Convoy.
While their heart may be in the right place (the greater good), it's a very dangerous precedent that is a glaring advertisement for bitcoin.
If the government can go in and take your money or freeze your assets because you have a different opinion, do you think many people are going to want to keep their money in that kind of a system?!
My guess is probably not...
Bitcoin fixes, sort of.
Bitcoin is only resistant if you have the ability to hold it in self hosted wallets.
If you are only allowed to invest in bitcoin and hold it on exchanges, then it is no better than fiat money held at a bank.
That is where self hosted wallets come in...
These are undoubtedly to be the target of the Treasury, the IRS, and the White House over the coming weeks and months, but at least one congressman is taking a stand now.
A bill is being introduced in congress to protect self hosted wallets and ability for Americans to transact in and with them.
(Source: https://twitter.com/BitcoinMagazine/status/1493611380896894993)
This is a very important issue that is fundamentally the backbone of why bitcoin/crypto really matters in the first place.
If we don't get this, bitcoin simply becomes a decentralized money, which is something, but it looses much of its use case and attraction.
We need to get laws passed in congress before regulators get their way...
Upvoted! Thank you for supporting witness @jswit.
Good one
To me the fundamental human right of every citizen no matter where they come from has to be protected, even right to their finances and choice of currencies whether its fiat or cryptocurrencies, what is important is to put the right regulation in place to avoid abuse.
The only protection against a tyranny is to depose the tyrant.
As long as Canada and the US are ruled by the left, there's no possible measure to protect people's money, wealth, property and life.
I'm not sure it's much safer with the right in charge either...
When has anything right been in charge?
Well we just came off a right winged president, a guy who wanted to make bitcoin illegal...
You mean Trump? When did that happen? And that's still better than having fallen into the hands of a senile, violent leftist.
Of course, you won't see it that way even if Russia does invade Ukraine which is something Trump was accused of potentially being able to cause (a war with North Korea).
As a Venezuelan I know that anything left is pure garbage. You may not be in for the tyranny, but it's all it bears.
That’s excellent idea!
things are changing color
Mine! Important post, thanks
drfinitely makes me bullish on BTC. anything Gov is against...
and i'm pro life and freedom - anytime i'm asked to choose between safety/freedom...
I choose BITCOIN!
That's good