The broad crypto industry rallied hard soon after the White House threatened to veto the bill that would let banks custody digital assets. And now it’s making a big difference, with Congress voting strongly for it, the White House pulling their veto threat, etc. While it’s right to pass that bill and let banks custody them if they want, it’s sad to see that the crypto industry response to that was like 100x bigger than the response to all of the anti-privacy stuff that has been happening. The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general. Much love to all those building and supporting real freedom tech.

Replies (15)

Hypnagog's avatar
Hypnagog 2 years ago
Yep very true. Privacy is something you only miss once you've lost it and its too late
The Cypherpunks had a strong ethos around the idea that asking the government for privacy protection was a waste of time. I wonder if that was actually true. Perhaps it was a mistake. In the United States, there might be a few people in leadership who understand history well enough to know that the "free United States" they claim to fight for cannot exist going forward without privacy, particularly cryptography and online privacy.
Kendy's avatar
Kendy 2 years ago
Most people are conditioned that stacking fiat aggressively and NGU is more important than anything else. If only they understood that poor privacy and weak property rights can render all those gains useless.
graffiti's avatar
graffiti 2 years ago
The markets have never rallied around the tech advancements either.
Let me get this straight. . . . You feel it's "just" and "right" for banks to be able to custody an asset they've been spending more than a decade mocking, ridiculing, harnessing, and coercing the shit out of with non stop FUD? Literally, financial parasites who are part of a squadron in cahoots with illegitimate governments around the world hellbent on keeping their knees on the back of our necks?
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