I think we’ll see something. Coin Center was considering filing an amicus brief dailyhodl.com/2024/05/01/crypto-advocacy-group-coin-center-looking-to-file-amicus-brief-to-support-samourai-wallet-co-founders/amp/
From the broadest interpretation of this, I don’t see why not… the DOJ interpretation here has already faced a lot of backlash even from other politicians so I think we will not yet see a worst case scenario with this but let’s see
Remember: You dont need a wallet to store bitcoin. You dont even need a wallet to SEND bitcoin. Wallets just make it easier to do these things. Perhaps we should make it more knowledgeable for people to learn to do these things without a wallet, if necessary.
True but (1) “easier” here I think is a big understatement (esp for constructing and broadcasting trxns) and (2) I don’t think it’s just ease of use but also in many cases helps with preventing user error. What would be your recommendation for people for broadcasting trxns to the network?
Trezor uses Wasabi’s coinjoin coordinator server for that feature, and Wasabi just announced they will be shutting their coinjoin service entirely. So my assumption is that you will no longer be able to use that feature in Trezor
A coinjoin is really just a collaborative transaction while “mixing” would typically imply some sort of broader orchestration of a series of such transactions for purposes of obfuscating go-forward ownerships of coins
If the government does not recognize Bitcoin as money, then it cannot accuse us of money laundering or illegal monetary transactions. The subject of the crime is missing. The government recognizes Bitcoin as property. This means that it cannot be laundered or transferred like other money, within the meaning of the law. In the same way, you cannot launder or transfer other property: furniture, pizza or an apartment.
Agree - my base case is that these arguments the DOJ is making fail in courts for any number of reasons, but I still think it’s troubling how this is escalating with enforcement by criminal prosecution (even if it’s later dismissed).
Trezor has the coinjoin feature powered by Wasabi’s coordinator server which just announced it will be shutting down, so I assume that feature will no longer be available. Outside of that though, these wallets should continue to function as normal - while the DOJ’s argument is indeed alarming, it’s far from any sort of actual win in court and while I suppose they could in theory come after these other companies, I don’t think they’ll push their luck. At least not until (if) they win won of these coin mixer cases.
Yes. And even if they do one day outright “ban” hardware wallets, I wish them good luck going door to door to enforce that ban. As a community we have to draw the line somewhere and I think it’s well before even that
Uh it's still working fine. My coins are still safe in my own custody, my node is still running, I can send coins whenever I want, and no one can do anything to stop it.
I think they can try their best to coerce people to use it in a certain (regulated, KYC’ed) way, but unless they cooperate with all other governments on earth to completely and permanently shut off the internet everywhere (and even then there are satellites and other methods of broadcasting information), they won’t be successfully in stopping people from using it
Man tbh, I genuinely did not realize this until I listened to the video back on a TV instead of my laptop… thanks for the feedback; was a spicy topic so this one had lots of table pounding 😂
I think our goal should be acceptance of bitcoin at stores. Now, you may not want to spend your bitcoin at stores, and thats fine. But what it does is allow a way to spend bitcoin without first exchanging it, which is the current point of attack at the moment. If stores accept it, there will no longer be the need for these exchange services.
Agree. Just takes time - classic chicken and egg problem but we’re seeing in some of the circular economies how it can start to look. In my experience it seems key for merchants to have a way to convert some amount of their bitcoin payments into their local fiat which they would likely need to pay their bills - just the reality currently. This is why I’m excited about things like stablecoins on the Lightning network - far from an impediment to hyperbitcoinization, I think it’s a crucial stepping stone for merchant adoption. You get them on the network and don’t need centralized exchange services anymore.
Thanks for the Content Brother !!! Subscribed. 10:10 min mark. This Definitely not a nothing burger. APPARENTLY, which means verify for yourself, Windows 11 software disables the use of VPNs. So if i am understanding this in General Terms if Bob opens a lightning channel with Alice and Money is sent by Bob to Alice or some Else on Alice's channel via lightning, then this lightning channel must be registered and licensed by the Government Agency issuing licenses. So Did Coinbase register their lightning channels and receive a license do so ? So the US Government also considers Ethereum Money? Extrapolating the US Government's case out further if i buy Bitcoin on Cash App and send it to my own custodial or non custodial wallet, am i operating a money transmitting business? It sad to think i might be deemed a criminal by my own Government because i demand Sovereign Rights that cannot be given by or taken by any Government and that i demand privacy.
Welcome! And thanks for the comment - completely agree the enforcement of this becomes more and more ludicrous the further you follow their argument. With that said, it’s still discouraging that we’re even having the conversation…
![[FINALE] 💸ที่แท้พ่อเป็นผู้ถือหุ้นบริษัทพันล้าน เขากลับใจตอนนี้ก็สายไปแล้ว🙇🏻♂️#ละครคุณธรรม #short](http://i.ytimg.com/vi/yFwgjTFISUI/mqdefault.jpg)
We need as many decentralized services and anon devs as possible
Please do a video on JoinMarket.
Thank you - on my list hopefully for the next few weeks
@@IanMajor cheers to you !
So why is no one taking them to court?
I think we’ll see something. Coin Center was considering filing an amicus brief dailyhodl.com/2024/05/01/crypto-advocacy-group-coin-center-looking-to-file-amicus-brief-to-support-samourai-wallet-co-founders/amp/
Does this mean that buying/selling bitcoin for fiat on bisq can be interpreted as a money transmitter? (not bisq but the people themselves)
From the broadest interpretation of this, I don’t see why not… the DOJ interpretation here has already faced a lot of backlash even from other politicians so I think we will not yet see a worst case scenario with this but let’s see
Remember: You dont need a wallet to store bitcoin. You dont even need a wallet to SEND bitcoin.
Wallets just make it easier to do these things.
Perhaps we should make it more knowledgeable for people to learn to do these things without a wallet, if necessary.
Where you go to get educated about this?
True but (1) “easier” here I think is a big understatement (esp for constructing and broadcasting trxns) and (2) I don’t think it’s just ease of use but also in many cases helps with preventing user error.
What would be your recommendation for people for broadcasting trxns to the network?
What about the TREZOR conjoin feature? How Is that any different to this mixing thing that is being banned?
Trezor uses Wasabi’s coinjoin coordinator server for that feature, and Wasabi just announced they will be shutting their coinjoin service entirely. So my assumption is that you will no longer be able to use that feature in Trezor
@@IanMajor thanks for the response and heads up
Are coinjoins and mixing coins the same?
roughly.
A coinjoin is really just a collaborative transaction while “mixing” would typically imply some sort of broader orchestration of a series of such transactions for purposes of obfuscating go-forward ownerships of coins
If the government does not recognize Bitcoin as money, then it cannot accuse us of money laundering or illegal monetary transactions. The subject of the crime is missing. The government recognizes Bitcoin as property. This means that it cannot be laundered or transferred like other money, within the meaning of the law. In the same way, you cannot launder or transfer other property: furniture, pizza or an apartment.
Agree - my base case is that these arguments the DOJ is making fail in courts for any number of reasons, but I still think it’s troubling how this is escalating with enforcement by criminal prosecution (even if it’s later dismissed).
Thanks for the excellent and clear update. What about Trezor, blockstream, and coldcard? This is alarming.
Trezor has the coinjoin feature powered by Wasabi’s coordinator server which just announced it will be shutting down, so I assume that feature will no longer be available. Outside of that though, these wallets should continue to function as normal - while the DOJ’s argument is indeed alarming, it’s far from any sort of actual win in court and while I suppose they could in theory come after these other companies, I don’t think they’ll push their luck. At least not until (if) they win won of these coin mixer cases.
Thanks!
thanks for your efforts🧡
Are hardware wallets still viable for self-custody?
Yes. And even if they do one day outright “ban” hardware wallets, I wish them good luck going door to door to enforce that ban. As a community we have to draw the line somewhere and I think it’s well before even that
@@IanMajorWell said.
I thought btc was supposed to be impossible to regulate or stop people from using but doesn't look like it's working out that way.
Uh it's still working fine. My coins are still safe in my own custody, my node is still running, I can send coins whenever I want, and no one can do anything to stop it.
@@joemama69448 Is that with Samourai or a hardware wallet?
I think they can try their best to coerce people to use it in a certain (regulated, KYC’ed) way, but unless they cooperate with all other governments on earth to completely and permanently shut off the internet everywhere (and even then there are satellites and other methods of broadcasting information), they won’t be successfully in stopping people from using it
@@IanMajor Are there maybe other countries keeping it free and open that one could direct their vpn to for transacting if needed?
@@kevinsconcealment870 In El Salvador... BTC is legal tender.
Merci
Ian, just to let you know what you already probably know... Your mic is always catching when you hit your table.
Man tbh, I genuinely did not realize this until I listened to the video back on a TV instead of my laptop… thanks for the feedback; was a spicy topic so this one had lots of table pounding 😂
That's why I never used solfware wallet, hardware wallet are the most secure.
I think our goal should be acceptance of bitcoin at stores.
Now, you may not want to spend your bitcoin at stores, and thats fine.
But what it does is allow a way to spend bitcoin without first exchanging it, which is the current point of attack at the moment.
If stores accept it, there will no longer be the need for these exchange services.
Agree. Just takes time - classic chicken and egg problem but we’re seeing in some of the circular economies how it can start to look. In my experience it seems key for merchants to have a way to convert some amount of their bitcoin payments into their local fiat which they would likely need to pay their bills - just the reality currently. This is why I’m excited about things like stablecoins on the Lightning network - far from an impediment to hyperbitcoinization, I think it’s a crucial stepping stone for merchant adoption. You get them on the network and don’t need centralized exchange services anymore.
9:26 🤯 the world is going clown ladies and gents
Clown level is accelerating at an impressive rate
Bitcoin urgently needs privacy on layer 1
Bitcoin needs to go back underground.
Its quickly turning into a govt controlled ponzi.
As if they need ANOTHER one :P
1933
Wow, got a 14 year old wallet in trying to recover got maybe .05 in it but it is worth it now😮
Every sat counts!
Thanks for the Content Brother !!! Subscribed. 10:10 min mark. This Definitely not a nothing burger. APPARENTLY, which means verify for yourself, Windows 11 software disables the use of VPNs. So if i am understanding this in General Terms if Bob opens a lightning channel with Alice and Money is sent by Bob to Alice or some Else on Alice's channel via lightning, then this lightning channel must be registered and licensed by the Government Agency issuing licenses. So Did Coinbase register their lightning channels and receive a license do so ? So the US Government also considers Ethereum Money? Extrapolating the US Government's case out further if i buy Bitcoin on Cash App and send it to my own custodial or non custodial wallet, am i operating a money transmitting business? It sad to think i might be deemed a criminal by my own Government because i demand Sovereign Rights that cannot be given by or taken by any Government and that i demand privacy.
Welcome! And thanks for the comment - completely agree the enforcement of this becomes more and more ludicrous the further you follow their argument. With that said, it’s still discouraging that we’re even having the conversation…
Thanks!
Missed this one - thank you for the support my friend!