U.S. Congress is trying to pass an infrastructure bill which would lead to serious damage in the Bitcoin industry in the United States. Probably temporary damage. No need to be concerned about the Bitcoin network, but rather the countless people who make a living in the industry, and the market as a whole. Our politicians talk a big game about supporting full employment, but their actions are not supporting their words. The way our government approaches “governing” is basically bullying, and if we the people choose not to comply with certain ridiculous laws, our government has a monopoly on violence, so we lose either way. Gotta love freedom and democracy.
There was a time when our government outlawed American citizens from owning gold. Think about that for a moment — we were not allowed to own a rock, from the ground. If we didn’t comply, and got caught, I’m assuming we were penalized under some other ridiculous law. Humans were cavemen at some point in time. Imagine telling a caveman he was not allowed to have a certain rock in his cave. He would probably look at you funny, and then throw a rock at you. Our government makes no sense, and when something in government doesn’t make sense, follow the money.
The U.S. Government has a history of bullying and taking from others. Native Americans — nice land you have, let me take that off your hands! The government must have finally woke up, and realized Bitcoin is serious business, which can bring in serious tax revenue. Rather than working with the industry, they are working against us. Our government has never been a good team player, so I don’t expect them to start now, especially when Bitcoin gives citizens a way to opt out of their corrupt financial system. I’m assuming Americans hid gold from the government back in the day. I’m also assuming Americans are stashing sats offline, and “forgetting” their seed phrases.
Uncle Sam, you’re probably invading my privacy as I’m writing this letter, so if you are, just know you cannot take our bitcoin, ask the FBI. Even when you try, most of us have lost our stack in a boating accident. You’re barking up the wrong tree, dumbhead.
Although I’ve been concerned about this bill for several days, I’m more confident and optimistic about the absolute outcome. I’ve worked in many industries in my life, but no industry is jam-packed with more intelligent and effective people than the Bitcoin industry. Name an occupation — we have those individuals on our side every day. From Politicians and Lawyers to Doctors, Rappers and Athletes, the 🔥 is spreading. To assume the Bitcoin industry is not a melting pot of brilliance is a mistake. Obviously going against Congress and any government is not ideal, wise or recommended, but going against senseless laws is definitely worth the fight.
I barely know anything about the full details of the bill, so I’m not able to elaborate too much at this time. However, so far I’ve learned that the bill includes some language that is too broad, specifically the part about “brokers.” With the current language, Bitcoin miners would not legally be able to operate in the United States. This alone would be detrimental to the market, and certainly the hash rate for some period of time. However, the miners would eventually find a new home, and the difficulty would adjust, so the network would be fully operational with zero interruptions. Thank you decentralization. However, life in the Bitcoin industry would definitely suck for a while.
All I can do is write this letter, and hold Bitcoin. Join or don’t join. Either way, our financial freedom is on the line. We can either let our government control the entire monetary system as they have been, or we can let Bitcoin’s incorruptible algorithms protect our wealth from tyranny. Continue educating yourself, and choose wisely!
Until next time,