by Michael Snyder
Most cryptocurrency house owners would by no means even think about that sometime closely armed federal brokers could come to arrest them once they least anticipate it. However this kind of issues is beginning to occur with alarming frequency. So long as you adhere to the entire very strict federal guidelines which were put into place to control cryptocurrencies, you’ll be fantastic. However in case you attempt to use Bitcoin and different cryptocurrencies because the actually unbiased mediums of alternate that they have been initially designed to be, you can quickly have an armored car come crashing by means of the aspect of your private home.
I do know that sounds actually weird. And Ian Freeman actually by no means anticipated that such a factor would occur to him.
However then very early one morning, it did…
The sky was nonetheless darkish when the brokers arrived at Leverett St. in Keene, New Hampshire, a leafy block of package homes on the quiet edges of the small faculty city. They settled on a home on the nook, surrounding it with two armored BearCat G3s and a fleet of unmarked SUVs. Each BearCats had gunners stationed in a hatch on the roof, clad in camo fatigues. The one mild got here from the blue-and-red sirens, strobing off homes in each route.
Ian was upstairs sleeping when one of many armored BearCats got here crashing by means of the aspect of his home. What occurred subsequent is like a scene out of a science fiction film…
Inside, Ian Freeman was asleep together with his girlfriend and their small canine Coconut. He woke to the sound of exploding glass. A ramming pole, tethered to the entrance of one of many BearCats, had plowed by means of a primary ground window, tearing off the body because it backed up. Freeman threw on a bathrobe and stumbled downstairs, nonetheless shaking off sleep. There was shattered glass in all places. His first thought was that some stranger had thrown a brick. However then he heard a whirring sound, a small hovering drone that police had deployed to discover the home. He seemed exterior and noticed blinding lights. Coming into focus beside the lights, males pointed rifles at him.
So what have been Ian Freeman and different libertarians in New Hampshire doing that warranted such therapy?
They have been charged with conducting “an unlicensed cash transmittal scheme”.
In different phrases, they have been making an attempt to make use of Bitcoin as an unbiased medium of alternate exterior of the very strict authorities rules which have now been put into place.
In fact it’s nonetheless completely authorized to “make investments” in Bitcoin and different cryptocurrencies. You may roll the cube on the worth of those extremely speculative “investments” all you need, however simply just remember to pay your taxes on any winnings.
As a result of in case you don’t pay your taxes, closely armed IRS brokers could present up at your door.
Nowadays, IRS brokers are seizing extra cryptos than ever earlier than. In fiscal yr 2019, the full worth of cryptos seized by the IRS was about $700,000, however this fiscal yr the grand whole has already topped 1.2 billion {dollars}…
Koopman’s staff of IRS brokers don’t match the stereotypical mildew. They’re sworn regulation enforcement officers who carry weapons and badges and who execute search, arrest and seizure warrants. Additionally they convey again document quantities of cryptocash.
“In fiscal yr 2019, we had about $700,000 value of crypto seizures. In 2020, it was as much as $137 million. And to date in 2021, we’re at $1.2 billion,” Koopman informed CNBC. The fiscal yr ends Sept. 30.
That’s completely nuts.
However that is the route your entire world is heading.
Simply take a look at what has been taking place in China. In current months, there was crackdown after crackdown…
In Could, China banned monetary establishments and fee firms from offering crypto-related providers. In June, there have been mass arrests in China of individuals suspected of utilizing cryptocurrencies in nefarious methods. That very same month, regulators dialed up the stress on banks and fee companies to cease offering cryptocurrency providers, and Weibo, the Twitter of China, suspended crypto-related accounts.
At this level, it has change into exceedingly clear that the Chinese language intend to fully remove cryptos from their society…
As of July, half the world’s bitcoin miners have now gone darkish following Beijing’s name for a extreme crackdown on bitcoin mining and buying and selling.
“China’s authorities is doing every part they will to make sure that bitcoin and different cryptocurrencies disappear from the Chinese language monetary techniques and economic system,” mentioned Fred Thiel, CEO of Marathon Digital Holdings and a member of the Bitcoin Mining Council.
As I’ve all the time mentioned, nationwide governments weren’t going to only stand by as personal residents created model new currencies that have been fully exterior of their management.
Within the western world, governments appear content material to permit folks to deal with cryptos like collectibles. They are often legally purchased and bought by means of accredited marketplaces identical to different speculative investments can.
However any makes an attempt to make Bitcoin or another cryptocurrency right into a viable medium of alternate that operates fully exterior of presidency management will merely not be tolerated.
That is why I’ve by no means gotten very enthusiastic about cryptos. If they’re by no means going to be allowed to be true unbiased “currencies”, what kind of a future do they really have?
Everywhere in the globe, nationwide governments have gotten extra authoritarian with every passing yr, and that course of has significantly accelerated through the present pandemic.
I do know that lots of people on the market dream of actually unbiased libertarian “utopias” that exist exterior of that paradigm, however as nationwide governments change into more and more authoritarian the place will or not it’s potential for such “utopias” to truly exist?
All through human historical past, tyranny has been the norm. Our founders tried to determine a society by which sure freedoms and liberties have been assured, and that society significantly flourished for a time, however now our freedoms and liberties are being stripped away a little bit bit extra with every passing day.
So allow us to mourn for America, as a result of the trail that we’re presently on doesn’t lead anyplace good.
Management over cash means every part to the ruling elite, and lots of believed that actually unbiased currencies may usher in a brand new period of freedom and prosperity for humanity.
Sadly, nationwide governments appear fairly decided to make it possible for new period of freedom and prosperity by no means materializes.
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