Future headline: "Save the US dollar act" passes. \ stacker news ~bitcoin

pull down to refresh

Future headline: "Save the US dollar act" passes.

818 sats \ 10k boost \ 23 comments \ @standardcrypto 6 Oct bitcoin

75% of bitcoin is seized from etf and exchange accounts, owners receive dollars in exchange at "full purchasing power parity"

Apple and google app stores publish "Uncle Sam's Ranch" official US government bitcoin (viewing-only) wallet app, installed automatically on next phone security update and unremovable except by jailbreak of stock firmware. Most G20 countries commit to publishing their own versions of government viewing wallets shortly.

Bitcoin self custodians are directed to register hardware wallet mpubkeys and addresses with SamsRanch app for coins they control, with felony and local law enforcement asset forfeiture penalties for non (or slow) compliance.

Hours later 2GB csv file of (probable owner/bitcoin address/confidence % score) rows from chainalysis is leaked on wikileaks+bittorrent. DOJ denies being source of the leak and vows to pursue and prosecute hackers.

"Striking a balance while maintaining respect for the rule of law in a Free Country with functioning capital markets is our absolute top priority" -- joint statement from Treasury and DOJ

Rumors swirl of a soon to be announced "sam's club" rewards plan for citizens who voluntarily assist local law enforcement with information that results in successful bitcoin asset forfeiture prosecutions. Homes, cars, bank and brokerage accounts may be seized when the accused fail to comply or claim coins were lost or misattributed to them.

view all related items

48 sats \ 0 replies \ @standardcrypto OP 7 Oct

20 sats \ 0 replies \ @TheMorningStar 7 Oct

Even if you boost it, It's your negative soul's product. They won't do it because they will also benefit individually from Bitcoinomics.

You're just thinking about current political scenario. Think in 10 years many bitvoiners will also be in politics and they will not let this happen.

10 sats \ 0 replies \ @SatsMate 7 Oct

This would be wild, and is a likely possibility if bitcoin does what I think it will do...

I think it is important to get another passport, and have options in case s#*@ hits the fan!

21 sats \ 1 reply \ @Satosora 6 Oct

This would be rough. But how many of us would actually register our bitcoin? I think the government would be fighting a losing battle.

1 sat \ 0 replies \ @zapsammy 6 Oct

those who are dependent on government in their life will continue registering things they make or own. imagine if artwork registration were required... Oh yeah, public street artwork is called vandalism if not approved.

0 sats \ 0 replies \ @standardcrypto OP 5 Nov

UPDATE

UncleSamsClub turns out to just be a version upgrade to SamsRanch (3 weeks later).

SamsClub is sort of a mashup of blockchain explorer and facebook style interface linking bitcoin addresses to the suspected owner's social media (those owners who have not already registed with the Ranch).

There is a "report" button with a streamlined interface to share additional informatuon corroborating chainalysis ownership guesses, or clarifying which guess is corrrect when multiple potentiap coin owners are listed.

In the SamdRanch v2 "club" upgrade, reports are anonymous and there is no sharing of asset forfeiture rewards.

"This is nothing more than a streamlined version of anonymous tips to the local authoriites to help identify potential tax evaders, which has always been legal umder the constitution" (Joint press release, AG and POTUS)

In related news Walmart owned retailer "Sams Club" promises no legal action for the near trademark clash and commits to a data sharing agreement with federal suthorities. "Catching tax evaders so America can go back to normal, is something we at Walmart fully agree with and commit to helping with to the full extent of our IT infrastructure capabilites."

A "club rewards" update is rumored to be coming soon, pendimg legislation or potential executive orders.

0 sats \ 0 replies \ @standardcrypto OP 2 Nov

0 sats \ 0 replies \ @Solomonsatoshi 6 Oct

Order 6102B. Completing effective market capture and control. Anyone who says this is negative paranoia, is naive, and urgently needs to read some history!

0 sats \ 0 replies \ @Cje95 6 Oct

Idk what makes you think this is going to happen given how the Republican Party has embraced BTC. Add in that the idea of registering BTC is hilarious for a country that doesn't even require you to register guns in some starts. Do you think Texas and Wyoming would go along with this?

Plus the US government already has a metric shitload of BTC for previous seizures so why do they need more? The answer is they don't and if they wanted to sink the price they could but it would slaughter Wall Street. Imagine the economic turmoil that this would cause as so many companies that are now dealing in this get hit with this blow.

This isn't logical at all I mean its not even good fantasy because the damage it does is much greater than whatever good would come of it and again Republican State governments have been passing laws to prevent this why would Republicans in the Federal government suddenly flip? The answer is they wouldn't it isn't in their interests as their consistents would be up in arms and so would their donors.

0 sats \ 0 replies \ @DarthCoin 6 Oct

bullshit crap

0 sats \ 0 replies \ @siggy47 6 Oct

BRICs countries wouldn't comply. Game theory at work.

0 sats \ 2 replies \ @Taft 6 Oct

This sounds a bit pessimistic.

0 sats \ 1 reply \ @Solomonsatoshi 6 Oct

Given how slyly BTC MoE has been obstructed and custody concentrated into CEXes and ETFs do you really think the above is pessimistic or realistic? Are you in denial of the reality that the USD fiat global hegemony is the USAs most crucial remaining strategic asset?

20 sats \ 0 replies \ @028559d218 7 Oct

I completely agree with you. "USD fiat global hegemony" 100%. Spend too much, export the debt and inflation of the US dollar. That what Bitcoin ultimately competes with IMO.

I agree that BTC MoE has been obstructed as well by ambiguous/unrealistic tax laws and lack of clarity.

0 sats \ 0 replies \ @hasherstacker 6 Oct

0 sats \ 7 replies \ @standardcrypto OP 6 Oct

What comes next?

0 sats \ 6 replies \ @_b_o_n_e_s_ 6 Oct

Developers of free and open source software appearing on Most Wanted lists , and getting tried and convicted of working for some foreign power to 'destabilise and undermine the sovereignty of the United States'

0 sats \ 5 replies \ @_b_o_n_e_s_ 6 Oct

The 'proof' is a couple of small transactions five or six hops away from a known Foreign Agent for each dev convicted

MIT labs and Google announce theyve spent two years on their quantum computers doing a 'joint study on the bitcoin blockchain' and that they cracked the seed phrases for all addresses with more than 250,000 sats.

In the authors' opinions, blockchain as a technology is groundbreaking, except bitcoin is too slow and is not quantum resistant. Therefore, they argue, a new Google-backed chain which is written in Go and uses the new Google-sponsored 'open' quantum cryptographic library is a superior alternative for all applications previously assumed by bitcoin

0 sats \ 4 replies \ @028559d218 7 Oct

I don't think this is realistic.

0 sats \ 3 replies \ @_b_o_n_e_s_ 7 Oct

maybe. maybe not

desperate governments will do anything

we can see devs getting jailed now

google is effectively an arm of the nsa. they could create hundreds of addresses to say their computers havecracked them. once a narrative is in the current zeitgeist it tends to stick around for a while

0 sats \ 1 reply \ @DiedOnTitan 7 Oct

We will ask for proof, such as sign a known Satoshi utxo, let's see if nsa can do what Craig Wright could not do. Without that, tick tock next block™.

0 sats \ 0 replies \ @_b_o_n_e_s_ 7 Oct

we've just watched the world turned upside down due to 'science', just pulling on existing threads

0 sats \ 0 replies \ @_b_o_n_e_s_ 7 Oct

either way it's just good post to think about

what if...