Conversation

Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
2/ The concept of state oversight on the flow of capital is a recent phenomenon. When given the choice between control and laissez faire, the state usually errs on the side of control, unless explicitly forbidden by its founding charter #Constitution
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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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