What are your thoughts on US Senate Bill S.1241 to extend anti-money laundering rules to cryptocurrency businesses and (supposedly) criminalise ownership of bitcoin? What would be the implications for mixers in the United States? What should people do if they live in a country which criminalises ownership and/or use of bitcoin?

More: https://coincenter.org/entry/congress-s-anti-money-laundering-bill-s-1241-coin-center-is-on-it

This is a question from the patron-only live Q&A which took place on December 16th 2017. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
Money as a System-of-Control – https://youtu.be/FyK4P7ZdOK8
Bitcoin: Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0
Worse Than Useless: Financial Surveillance – https://youtu.be/n4F-h4xuXMk
Hard Promises, Soft Promises: Promoting Autonomy Instead of Authority – https://youtu.be/UJSdMFPjW8c
The Currency Wars and Bitcoin’s Neutrality – https://youtu.be/Bu5Mtvy97-4
Open Blockchains for Cashless Developed Economies – https://youtu.be/eo-0BgrKxiI
Will governments ban cryptocurrencies? – https://youtu.be/LIQkuF_I5Xo
Could governments take over exchanges? – https://youtu.be/9PrJQeKl9w4
How will the currency war affect companies? – https://youtu.be/c9MIM2vZUZc
The war on cash and crypto – https://youtu.be/BAlRKfvBnvw
My response to Jamie Dimon – https://youtu.be/1dEcdGc0tIo
Borderless money – https://youtu.be/EZh1-ZqffOw
Regulation and the bank boycott – https://youtu.be/8ypH69Cb1l0
The Switzerland of currencies – https://youtu.be/pV83Qmy578c
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
Where can I buy and spend bitcoin? – https://youtu.be/RPR5dtmXnY8
The separation of money and state – https://youtu.be/jGmtRA9S7_Y
Unstoppable code – https://youtu.be/AQx3E3F8Kz4
Net Neutrality and open blockchains – https://youtu.be/yahjdULhtlc

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

source

27 COMMENTS

  1. First of all, Andreas, thanks for your advocacy and commitment to teaching people about Cryptocurrency. I have already learned a lot from you & will continue to follow your videos. I do have a question that I would like to get your opinion on… you shared your thoughts on criminalisation but what about confiscation? There are clearly documented cases in history where the USA, Australian, British and other governments used their ability to make laws to confiscate gold from private citizens. How does the Crypto holder protect himself/herself if the whole Fiat World adopts such a practice & there is no Crypto-friendly country to buy a ticket to?

  2. I am posting the following on several channels and sites I like – wanting to hear from others who may have the same thought and concerns:

    I am getting more than a bit worried about the crypto space. There seems to be endless scams, hacks, lies and vapor ware. There are continuous promises of all these wonderful things right around the corner but not much whatsoever in the present.

    I am a holder of bitcoin and I have invested in several alt coins after researching many. Finding anything good is like the old needle in the haystack – no matter how many spammers tell me "to the moon" …

    Of course, any post (like this) will get the usual crypto cultists putting their hands over their ears and shouting "fud" – but any reasonable person can see a lot of this is pure BS and greed (meanwhile these cultists preach this holier than thou change the world mantra while completely ignoring the rampant greed in their chosen space).

    I honestly wouldn't care so much and I would simply say fools and their money are parted, but I do believe in Bitcoin and a few of the alt coins and the potential of some of it, but we all have to be realistic.

    Anyone with any criticism – no matter if it's valid – is treated like a traitor and that is absurd. Just look at the little war that is broken out between BTC and BCH – it's a childish and endless trading of the same old insults. Very akin to politics – very few change their mind, they simply repeat their stance over and over while the other side does the same (typically neither side is completely correct in these types of situations).

  3. Create a class action lawsuit against the government. Gather as much support as possible from the people and buy more Bitcoin. Higher a very good human rights lawyer and fight to the very end. Always fight for what's fair moral. Never give up your freedom under any circumstances…

  4. In a digital world, everything is numbers, and there are indeed already numbers that you can have troubles for possessing and sharing, the sequence of 0s and 1s that constitute a digitally protected file that you didn't buy the rights for are a plausible cause for troubles, but possessions of other digitally encoded media representing some illegal actions, are also illegal, and can get you a long and painful time in prison, and most people certainly think that's a good thing.

    So, while i do agree that simple possession of a bitcoin key and control over the digital tokens it "contains", should stay legal (concealing wealth is another matter, as it's tax avoidance in a lot of places and thus illegal), i'm a bit concerned by this argument, which seems weak to me, and could probably backfire.

  5. One of the best Q&A I heard, very brief but to the point. Respect of liberty and the pursuit of happiness as expressed in the Constitution must be upheld at all costs. If this so called "democracy" becomes a "tyranny" that it would not even allow the individual the right of ownership and private property, specifically the right to own bitcoins or any other type of digital currency. Just as the right for example to own coin and stamp collections which increases in value over time. Then I perfectly agree with Andreas its time to vote with your feet and get the "F" out of there. I couldn't agree more.

  6. why did I waste my time on moon mission youtubers? Andreas, you are a comprehensive voice in an attention economy too based on emotion to factor in potential risks of engaging in one of the riskiest assets we've seen yet. I humbly trust your guidance reserving the right to histrionocally turn on you at any moment. Thanks a million __ (enter your favored crypto) I'll always be listening.

  7. There USED to be a pathway of "unbecoming a U.S. citizen" and becoming a sovereign "state Citizen".

    But I think the powers that be blocked it somehow.

    Michael Badnarik spoke of it briefly in his constitutional classes.

  8. A picture is just a very large number and thousands of teenagers get arrested for sexting their bf/gf every year in the USA. So the USA is already arresting children for sending/receiving/creating certain large numbers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here