Nearly $1 billion worth of bitcoin linked to Silk Road black market is on the move, analysis shows - Ross Ulbricht should not be in prison for any amount of time; the fact they've locked him up for life, confirms in my mind the complete hypocrisy of the system. All he did was build a market of free trade over TOR, that the government couldn't monopolize on. I urge you to sign the FreeRoss petition when you realize he's not a criminal. Criminal's will always do criminal things, the main reason it got shut down was for money & power. Government/big pharma couldn't allow a free market outside of the system, they'd lose profits & control. The real crimes are being done at government level. This should be common sense by now, but there's a lot of gullible people out there still.
Bitcoin has ignited a whole new level of innovation post Silk Road. There are already many decentralized marketplaces available; some in early stages of development, some have been completed & in operation for years. There's probably already a decentralized version of Silk Road out there. A lot of the ones I've seen don't really have a significant amount of adoption, however I'm expecting they'll become more & more popular as time goes on. I'm betting someone is in the process of building one on the Lightning Network - fast & private. When you decentralized a platform it becomes much harder to convict any one person against a 'crime'. The more decentralized the platform becomes, the harder it will be.
Bitcoin is built on the basis of free market capitalism, the world is going in this direction now whether governments like it or not. It'll become too costly for them to enforce the laws and regulations they're currently putting in place; the internet is too big to turn off or slow & there are way too many people using it. Also, our daily lives would come to a stand still without it. Policing the internet to prevent free market capitalism is just wasting more of tax payers money & is only putting more of us in danger with these KYC/AML laws.
The issue is: Bitcoin isn't anonymous by default; so when you move $1B/70k Bitcoins, it stands out like dog's balls. CoinJoining 70k Bitcoins to obfuscate it's transaction path would take months to properly pull off. Seizing any amount of Bitcoin would have to require coercion or extortion in some form. First you'd have to trace the coins back to an identity. If the coins have already made a few hops between, there'd already be a level of plausible deniability. How the state was able to pull off the seizing of Bitcoin (In the Ulbricht's case) makes me worried what they did to actually take ownership of the keys. I know most Bitcoiners would do everything in their power to not hand them over. It should be a basic human right to have self-sovereignty; we need to fight to keep it unfortunately. Things will no doubt get far worse; governments are broke & we've seen what they're are capable of.
Bitcoin is step one to take back your rights, privacy second. This is why privacy is important. CoinJoin your Bitcoin after you buy it off an exchange. Break the link from your identity, then use Lightning if you have to spend. You can still pay taxes, because we have integrity. If the government had integrity, they'd print money equally for everyone. Or at least more fairly; it's completely one-sided. Doesn't matter though; No point going down with a sinking ship, Bitcoin is the lifeboat. Bitcoin is a smooth transition to a better & more free world.
Bitcoin is evolving.
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