What do you think about the U.S. Treasury Department sanctioning two bitcoin addresses? What does this mean for Bitcoin’s censorship resistance?

Press release on the topic: https://home.treasury.gov/news/press-releases/sm556

This question is from the December monthly subscriber session, which took place on December 15th 2018. 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

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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.

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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs

THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY:
Spanish, ‘Internet del Dinero’ (v1) – https://amzn.to/2yoaTTq
French, ‘L’internet de l’argent’ (v1) – https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, ‘Интернет денег’ (v1) – https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, ‘Internet Của Tiền Tệ’ (v1) – https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK

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

36 COMMENTS

  1. This is a vital flaw in bitcoin. Simple as that. You can’t blame governments or banks for taking advantage of it and using the flaw to censor. You win by building tech that is actually censorship resistant. I can’t believe he is suggesting that because it was only two of “infinite” addresses that were blacklisted so it’s not a big deal. What if it was his two addresses and he effectively was not able to spend the btc in them an longer. How is he not concerned about this?? Makes no sense to me.

  2. Quote :
    — Will the ban work ? Not if you think its goal is to prevent terrorist financing…
    HOWEVER… speaks without breathing
    "If on the other hand you might have this crazy conspiratorial idea that the purpose of this regulations is not to prevent terrorist financing, because they obviously fail at that goal, but instead to further expand the power, control, and authority of various national governments over the lives of its citizens and to create a completely captured financial industry that is a surveillance mecanism of control that pervades the life of every person, thereby completeley destroying democratic institutions balances and things like that, then you would be right. "

    How can one spit out such a huge and meaningfull sentence without thinking twice is beyond me.

  3. How absurd is that? If I understand this corrector the owner of these two addresses could send a few Satoshi to Andreas Address and then address would commit a crime according to the sanctions and the regulation by recieving money from that address… That does not make sense. The only way Andreas could protect himself was my not using Bitcoin at all…

  4. Not just the regulated entities… All citizens are obligated to obey the OFAC SDN list. All US citizen miners must ensure they don't mine against sanctioned addresses. This will be tested and miners will be imprisoned.

  5. So they can block addresses Andreas? You’re being jokingly on a serious issue. Privacy over scale you said!!!! When?
    This is getting bad. Is it a store if value for the rich or cash to spend freely on the internet? Less than 1% own a majority of the coins. It’s worse than the USA $. It’s failing to take hold after 10 years and we been involved since 2012. Just around the time you were. It’s made us never have to work again but its failing the hope you continue to say. Keep trying. It’s your life goal. Everyone needs a purpose to live and get up. Hope you find peace in something else cause you have a powerful mind.

  6. —- THE FIVE QUESTIONS —-
    by Larken Rose
    1) Is there any means by which any number of individuals can delegate to someone else the moral right to do something which none of the individuals have the moral right to do themselves?
    2) Do those who wield political power (presidents, legislators, etc.) have the moral right to do things which other people do not have the moral right to do? If so, from whom and how did they acquire such a right?
    3) Is there any process (e.g., constitutions, elections, legislation) by which human beings can transform an immoral act into a moral act (without changing the act itself)?
    4) When law-makers and law-enforcers use coercion and force in the name of law and government, do they bear the same responsibility for their actions that anyone else would who did the same thing on his own?
    5) When there is a conflict between an individual's own moral conscience, and the commands of a political authority, is the individual morally obligated to do what he personally views as wrong in order to "obey the law"?

  7. easy peasy, so now they just have to pressure the 20 or so mining pool companies to comply. after all it is the mining pool leaders that get to decide which transactions to process and which to not

  8. "The Means are the Goal" for every Machiavellian approach. Do we want to 'go there?' Not if we want to keep ourselves intact… Ever heard of Faust? Milton? The Kabbalah? "You may have to endure each past that is not known …" (Rhetorical)

  9. Well, they are just feeding the illusion that they can control Bitcoin. Most people don't understand government can't control this thing, so a "ban", ineffective as it may be, is perfectly enough to convince people that they have power over it

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