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Happened to run across a bitcoin wallet that had a 0.1 BTC transfer limit (2 BTC transfer limit with a KYC authentication). Founder's justification was that transfer caps would limit money laundering.
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1/ The primary motivation for wanting to keep money private from the state isn't tax evasion or laundering money. If it's natural to want to keep phone records and msgs private, the same logic should protect the free flow of our assets. #crypto #bitcoin
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3/ Decentralized assets won't lead to more tax evasion, it will lead to a different set of constraints for tax collection and capital controls, and will therefore lead to a different mandate for the state's control of private assets
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4/ There will be pressures to the contrary; state impulses tend to run self-preserving and conservative. States crack down on exchanges because it is harder to control the unlicensed many over the licensed few.
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5/ The onus for the builders in this space should be to steer the dialogue toward new monetary paradigms that preserve users' and stakeholders' freedoms. Capitulating completely do NOT accomplish this.
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True. Think on the balance nations that started out with strong mission statements and a steadfast tradition of reminding future generations of that mission tends to err a sliver less than others.