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Financial Sovereignty

Lysander Spooner: Natural Law – The Science of Justice

30/08/2020 by Idelto Editor

Lysander Spooner: Natural Law - The Science of Justice

The science of mine and thine – the science of justice – is the science of all human rights; of all a man’s rights of person and property; of all his rights to life, liberty, and the pursuit of happiness.

The essay “Natural Law- The Science of Justice” or a “Treatise on Natural Law, Natural Justice, Natural Rights, Natural Liberty, and Natural Society; Showing That All Legislation Whatsoever Is an Absurdity, a Usurpation, and a Crime” was published in 1882. It has been published on various venues and is reprinted here on Bitcoin.com for historical preservation. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy or quality within the historical editorial.

Section I.

It is the science which alone can tell any man what he can, and cannot, do; what he can, and cannot, have; what he can, and cannot, say, without infringing the rights of any other person.

It is the science of peace; and the only science of peace; since it is the science which alone can tell us on what conditions mankind can live in peace, or ought to live in peace, with each other.

These conditions are simply these: viz., first, that each man shall do, towards every other, all that justice requires him to do; as, for example, that he shall pay his debts, that he shall return borrowed or stolen property to its owner, and that he shall make reparation for any injury he may have done to the person or property of another.

The second condition is, that each man shall abstain from doing to another, anything which justice forbids him to do; as, for example, that he shall abstain from committing theft, robbery, arson, murder, or any other crime against the person or property of another.

So long as these conditions are fulfilled, men are at peace, and ought to remain at peace, with each other. But when either of these conditions is violated, men are at war. And they must necessarily remain at war until justice is re-established.

Through all time, so far as history informs us, wherever mankind has attempted to live in peace with each other, both the natural instincts, and the collective wisdom of the human race, have acknowledged and prescribed, as an indispensable condition, obedience to this one only universal obligation: viz., that each should live honestly towards every other.

The ancient maxim makes the sum of a man’s legal duty to his fellow men to be simply this: “To live honestly, to hurt no one, to give to every one his due.”

This entire maxim is really expressed in the single words, to live honestly; since to live honestly is to hurt no one, and give to every one his due.

Section II.

Man, no doubt, owes many other moral duties to his fellow-men; such as to feed the hungry, clothe the naked, shelter the homeless, care for the sick, protect the defenceless, assist the weak, and enlighten the ignorant. But these are simply moral duties, of which each man must be his own judge, in each particular case, as to whether, and how, and how far, he can, or will, perform them. But of his legal duty – that is, of his duty to live honestly towards his fellow men – his fellow men not only may judge, but, for their own protection, must judge. And, if need be, they may rightfully compel him to perform it. They may do this, acting singly, or in concert. They may do it on the instant, as the necessity arises, or deliberately and systematically if they prefer to do so, and the exigency will admit of it.

Section III.

Although it is the right of anybody and everybody – of any one man, or set of men, no less than another – to repel injustice, and compel justice, for themselves, and for all who may be wronged, yet to avoid the errors that are liable to result from haste and passion, and that everybody, who desires it, may rest secure in the assurance of protection, without a resort to force, it is evidently desirable that men should associate, so far as they freely and voluntarily can do so, for the maintenance of justice among themselves, and for mutual protection against other wrong-doers. It is also in the highest degree desirable that they should agree upon some plan or system of judicial proceedings, which, in the trial of causes, should secure caution, deliberation, thorough investigation, and, as far as possible, freedom from every influence but the simple desire to do justice.

Yet such associations can be rightful and desirable only in so far as they are purely voluntary. No man can rightfully be coerced into joining one, or supporting one, against his will. His own interest, his own judgement, and his own conscience alone must determine whether he will join this association, or that; or whether he will join any.

If he chooses to depend, for the protection of his own rights, solely upon himself, and upon such voluntary assistance as other persons may freely offer to him when the necessity for it arises, he has a perfect right to do so. And this course would be a reasonably safe one for him to follow, so long as he himself should manifest the ordinary readiness of mankind, in like cases, to go to the assistance and defense of injured persons; and should also himself “live honestly, hurt no one, and give to every one his due.” For such a man is reasonably sure of always giving friends and defenders enough in case of need, whether he shall have joined any association, or not.

Certainly, no man can rightfully be required to join, or support, an association whose protection he does not desire. Nor can any man be reasonably or rightfully expected to join, or support, any association whose plans, or method of proceeding, he does not approve, as likely to accomplish its professed purpose of maintaining justice, and at the same time, itself avoid doing injustice. To join, or support, one that would, in his opinion, be inefficient, would be absurd. To join or support one that, in his opinion, would itself do injustice, would be criminal. He must, therefore, be left at the same liberty to join, or not to join, an association for this purpose, as for any other, according as his own interest, discretion, or conscience shall dictate.

An association for mutual protection against injustice is like an association for mutual protection against fire or shipwreck. And there is no more right or reason in compelling any man to join or support one of these associations, against his will, his judgment, or his conscience than there is in compelling him to join or support any other, whose benefits (if it offer any) he does not want, or whose purposes or methods he does not approve.

Section IV.

No objection can be made to these voluntary associations upon the ground that they would lack that knowledge of justice, as a science, which would be necessary to enable them to maintain justice, and themselves avoid doing injustice. Honesty, justice, natural law, is usually a very plain and simple matter, easily understood by common minds. Those who desire to know what it is, in any particular case, seldom have to go far to find it. It is true, it must be learned, like any other science. But it is also true that it is very easily learned.

Although as illimitable in its applications as the infinite relations and dealings of men with each other, it is, nevertheless, made up of a few simple elementary principles, of the truth and justice of which every ordinary mind has an almost intuitive perception. And almost all men have the same perceptions of what constitutes justice, or of what justice requires when they understand alike the facts from which their inferences are to be drawn.

Men living in contact with each other, and having intercourse together, cannot avoid learning natural law, to a very great extent, even if they would. The dealings of men with men, their separate possessions and their individual wants, and the disposition of every man to demand, and insist upon, whatever he believes to be his due, and to resent and resist all invasions of what he believes to be his rights, are continually forcing upon their minds the questions, Is this act just? or is it unjust? Is this thing mine? or is it his? And these are questions of natural law; questions which, in regard to the great mass of cases, are answered alike by the human mind everywhere.

Children learn the fundamental principles of natural law at a very early age. Thus, they very early understand that one child must not, without just cause, strike or otherwise hurt, another; that one child must not assume any arbitrary control or domination over another; that one child must not, either by force, deceit, or stealth, obtain possession of anything that belongs to another; that if one child commits any of these wrongs against another, it is not only the right of the injured child to resist, and, if need be, punish the wrongdoer, and compel him to make reparation, but that it is also the right, and the moral duty, of all other children, and all other persons, to assist the injured party in defending his rights, and redressing his wrongs.

These are fundamental principles of natural law, which govern the most important transactions of man with man. Yet children learn them earlier than they learn that three and three are six, or five and five [equals] ten. Their childish plays, even, could not be carried on without a constant regard to them; and it is equally impossible for persons of any age to live together in peace on any other conditions.

It would be no extravagance to say that, in most cases, if not in all, mankind at large, young and old, learn this natural law long before they have learned the meanings of the words by which we describe it. In truth, it would be impossible to make them understand the real meanings of the words, if they did not understand the nature of the thing itself.

To make them understand the meanings of the words justice and injustice before knowing the nature of the things themselves, would be as impossible as it would be to make them understand the meanings of the words heat and cold, wet and dry, light and darkness, white and black, one and two, before knowing the nature of the things themselves. Men necessarily must know sentiments and ideas, no less than material things, before they can know the meanings of the words by which we describe them.

What do you think about Natural Law? Let us know what you think about this subject in the comments below.

The post Lysander Spooner: Natural Law – The Science of Justice appeared first on Bitcoin News.

Filed Under: Anarchism, Anarcho-capitalism, English, Financial Sovereignty, free markets, freedom, Historical Reprint, Justice, Law, Legislation, Libertarianism, liberty, Lysander Spooner, Natural Law, natural rights, News Bitcoin, Op-ed, self-ownership, Voluntaryism

Airport Gold Seizure in Amsterdam Points to Bitcoin Utility for Private, Borderless Travel

07/03/2020 by Idelto Editor

Airport Gold Seizure in Amsterdam Points to Bitcoin Utility for Private, Borderless Travel

A 27-year-old Brazilian man was arrested at Schiphol Airport in Amsterdam Friday for failing to declare 15 kilograms of gold bars to customs, according to local reports. After failing to provide a convincing explanation as to how he acquired the gold, the traveler flying from Rio de Janeiro to Hong Kong was placed under arrest on money laundering suspicions. The news has crypto Twitter alive with chatter, bringing renewed focus to the benefits cryptocurrencies like bitcoin can bring to the table, where privately traveling with large sums of money is becoming increasingly difficult.

Also read: Bitcoin Gold Whale Allegedly Controls Half the BTG Supply

Gold Carrying Traveler Arrested in Amsterdam

The arrest, as reported by Dutch media, notes the man was taken in by the Royal Military Police “because he had 15 kilos of gold bars in his luggage,” and “couldn’t give a good explanation for that.”

The Netherlands Royal Police gave further details in a Facebook post stating that “Customs staff checked the luggage of the man who came from Rio de Janeiro and was traveling to Hong Kong. He turned out to carry six gold bars in his hand luggage with a total weight of almost 15 kilograms … and was arrested by investigators from the SVLM on suspicion of money laundering.”

The translated post further details: “The man is trapped and the gold, a cell phone and about 750 US dollars have been seized. Investigators from SVLM conduct further investigations under the direction of the Public Prosecution Service Noord Holland.” SVLM, to be clear, is a collaborative regulatory effort comprising customs, the Netherlands’ Fiscal Information and Investigation Service (FIOD) and Royal Military Police.

A photo of one of the seized gold bars posted to social media by Netherlands authorities. https://www.facebook.com/KoninklijkeMarechausseeOfficieel/

Pro-Bitcoin Social Media Reacts

It wasn’t long after the news hit Twitter that bitcoiners and advocates of economic freedom began not only to roast Netherlands authorities for the privacy invasion, but also to remind everyone of what they view as the benefit of borderless digital money while traveling.

“That’s why you need crypto to move gold,” one user replied to the news, “Sell gold before taking off for crypto. Buy gold with crypto in the new country. Problem solved…” Twitter handle @Coinosphere one-upped this idea with the comment: “Now just skip the gold parts and you’ll be up to speed.”

Another user, @rusticbison, wrote: “Gold is expensive to move, easy to steal at border crossings (I’ve got the gun, so it’s mine now). Bitcoin is cheap to move, often impossible to steal at border crossings. Gold is a stable store of value, but it is not portable. It has to remain in a stable jurisdiction.”

User @LightningSats sarcastically remarked:

How dare this individual own an asset the state doesn’t want him to own. Thank god they caught him, who knows what could have happened if they didn’t.

Not lost on many commenters was the fact that a man was kidnapped on mere suspicion, generated by carrying a store of value. Bitcoin — since it exists on a distributed digital ledger — can be carried as a small cold storage device on a keychain, a seed phrase on some paper tucked into a book, or on a phone or computer. It can also be very private compared to traveling with the shiny, heavy stuff.

While some feel those holding value while passing through customs — like the Brazilian man at the Amsterdam airport — should always obey the law and declare what they are carrying, others think it’s nobody’s business unless there is legitimate suspicion of a crime.

Simply having a lot of money should not, in and of itself, incriminate anyone. Thanks to the rise of civil asset forfeiture laws, however, stories of police stealing large sums of money from the public have now become the norm, and the recourse required to reclaim stolen assets can end up costing a fortune for the extorted. If you’ve got a seed phrase stored in your brain wallet however, that kind of abuse could be a hell of a lot harder for authorities to pull off.

What are your thoughts on the arrest of this man for carrying undeclared gold? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Airport Gold Seizure in Amsterdam Points to Bitcoin Utility for Private, Borderless Travel appeared first on Bitcoin News.

Filed Under: air travel, airport, Amsterdam, Bitcoin, Civil Asset Forfeiture, cryptocurrency, cryptocurrency wallet, customs, English, Financial Sovereignty, FIOD, gold, Gold Bars, News, News Bitcoin, Police, security, SVLM, travel, TSA

A Sea Change to Crypto Hits America, Again

01/03/2020 by Idelto Editor

A Sea Change to Crypto Hits America, Again

A sea change is coming to cryptocurrency in America. It is likely to hit in two separate waves: a central bank digital currency (CBDC) and draconian regulation that shuts down free-market activities, including development.

Also Read: No Backdoor on Human Rights: Why Encryption Cannot Be Compromised

The Wave of a Central Bank Digital Currency

Robert Wenzel of the Economic Policy Journal has a warning. “A [U.S.] Federal Reserve created digital coin could be one of the most dangerous steps ever taken by a government agency. It would put in the hands of the government the potential to create a digital currency with the ability to track all transactions in an economy—and prohibit transactions for any reason. In terms of future individual freedom, this would be a nightmare.” If recent statements by American lawmakers and bureaucrats are an indication, however, state-issued crypto seems to be on its way.

A shift in attitude on CBDC is in the air. Consider Federal Reserve Governor Lael Brainard. In May 2018, she stated, “There is no compelling demonstrated need for a Fed-issued digital currency.” While acknowledging the efficiency and low cost of blockchain transfers, Brainard presented a familiar check list of objections to digital currencies. They were too volatile to be utilized as money; their anonymity protected crimes like money laundering and sex trafficking; they eluded regulation. Then Brainard added what may have been the fundamental reason for dismissing a CBDC. At the beginning of 2018, digital currencies were so small a part of the financial system that they posed no stability risk. They did not threaten the monetary status quo. Or, at least, Brainard did not perceive the threat.

In February 2020, her tune differed. “The Fed is conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC.” The main public argument for a CBDC is a perceived need to stabilize crypto by pegging it to traditional fiat, which is assumed to be less volatile. The “nightmare” of which Wenzel warned already has a name: Fedcoin.

What changed between May 2018 and February 2020?

Crypto surged in popularity and price while central banks and their fiats continued a slow implosion. Several nations — including America’s financial nemesis China — announced an intention to issue e-currencies. “We are collaborating with other central banks as we advance our understanding of central bank digital currencies,” Brainard explained, all the while “making sure” we are at the “frontier of both research and policy development.” Translation: the U.S. does not want to be left behind. Neither will it eat Facebook’s dust; Brainard claimed that Facebook’s digital currency Libra, which emerged last year, “imparted urgency” to the conversation. Digital currency was becoming a large enough part of the financial system for agencies like the Internal Revenue Service (IRS), the Federal Reserve, and the Treasury Department to notice.

The Wave of Draconian Regulation

The regulation attack is surging, and it will extend far beyond the current licensing of exchanges to make them function in conformity with state law.

The IRS has stepped up crypto prosecutions and has created new rules. In his article “IRS Explains What Crypto Owners Must Know to File Taxes This Year,” Kevin Helms observed, “Among the changes to the 2019 Form 1040, the main U.S. tax form, is the addition of ‘an inquiry regarding the acquisition or disposition of any virtual currency’, the agency explained. The new crypto question appears on Form 1040’s Schedule 1, entitled ‘Additional Income and Adjustments to Income’.” This is prelude.

Treasury Secretary Steven Mnuchin recently revealed that the Department’s Financial Crimes Enforcement Network (FinCEN) was preparing “significant new requirements” in order to provide transparency to crypto in a quest to prevent “crimes” such as tax avoidance. Here, transparency is a synonym for state surveillance. “We want to make sure that technology moves forward,” Mnuchin continued, “but … we want to make sure that cryptocurrencies aren’t used for the equivalent of old Swiss secret number bank accounts.” He added that FinCEN and the Treasury Department are “spending a lot of time on this.”

The Department of Justice was even more blunt, declaring bitcoin mixing to be “a crime” in and of itself. Yahoo Finance’s article “US DOJ Calls Bitcoin Mixing ‘a Crime’ in Arrest of Software Developer,” indicated how seriously the DOJ takes this alleged crime. “Larry Harmon was arrested earlier this week for allegedly participating in a money-laundering conspiracy worth more than $300 million in cryptocurrency involving darknet marketplace AlphaBay. However, the family of the Coin Ninja CEO claims he was never involved with AlphaBay. Harmon’s case raises pressing questions about developer liability in the crypto industry.” The mere development of tools has been criminalized.

The Two Waves Flood Together

As yet, Mnuchin has not supported a CBDC. He merely echoes President Trump’s loud concern that crypto is being used by bad actors, and the “abuses” must be reined in by careful state monitoring. The easiest way for this to be done is to create some form of CBDC on a blockchain protocol that the state controls, however.

The state’s pattern in monetary matters can be judged by how it handled private competition to the money it has issued in the past. Whatever the politicians say now, the same pattern is likely to hold with crypto as soon as it becomes pragmatically possible.

First, state money is issued through a central bank and free-market competitors are controlled by regulation. “To start with, I suspect it’s going to be a parallel currency,” the investment guru Doug Casey explained. “Perhaps usable just within the U.S. which, in effect, would be a form of foreign exchange controls even more effective than the inability of Americans to open up foreign bank and brokerage accounts today … I think it’s a near certainty that they’re going to do something like this and soon.” Second, the state will attempt to establish a monopoly by criminalizing the ownership of free-market crypto and, perhaps, mandating the ownership of state-issue. One manner in which a fiat has been historically mandated is by making taxes or other state fees payable only in that form of money.

Establishing a CBDC may be irresistible to Trump, not only as a way to stay competitive with rival monetary powers but also because of the extreme political power it offers. A CBDC would serve the state in at least two ways:

  • By controlling the design of the Fedcoin’s blockchain and its terms of use, the state can strip away encryption and anonymity so that every transaction is identifiable. Every user can be taxed. Every coin can be confiscated; the threat of confiscation or of being shut out of the financial system is a means to impose social control.
  • The CBDC eases people into a cashless society. States dislike cash because it offers an anonymity that blocks their ability to tax and control. If only the CBDC were permitted, however, extra “taxes” could be levied and social control asserted. If the state wanted to prevent someone from traveling, for example, it could block the person’s ability to buy a plane ticket … or ammunition for a gun.

As usual, the freedom and prosperity of individuals will be stolen in the name of a noble cause: fighting sex traffic or child pornography. In reality, it will be done to empower the state. The title of an Electronic Frontier Foundation (EFF) article stated “In Foreshadowing Cryptocurrency Regulations, U.S. Treasury Secretary Prioritizes Law Enforcement Concerns.”

The wording of the coming regulations and probable Fedcoin are not yet known. Their purpose is clear, however; the state wants to convert cryptocurrency into a form of state fiat and a technology of financial surveillance. The latter can reveal far more than economic transactions. As EFF observed, they can point “to everything from your friend network to your sexual interests to your political affiliations.”

State-controlled e-currency means state-controlled individuals.

Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.


Images courtesy of Shutterstock.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post A Sea Change to Crypto Hits America, Again appeared first on Bitcoin News.

Filed Under: Bitcoin, CBDC, cryptocurrency, Digital Yuan, Donald Trump, English, Fedcoin, Federal Reserve, financial privacy, Financial Sovereignty, Financial Surveillance, Government, Lael Brainard, News Bitcoin, Op-ed, Regulation, Steven Mnuchin, Voluntaryism

Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls

27/02/2020 by Idelto Editor

Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls

Mass unrest in Lebanon due to allegations of political corruption and heavy handed capital controls has carried over into the new year, with reports pointing to a notable uptick in bitcoin trading from the embattled nation. As residents seek to preserve as much value as they can while government falters, some traders are calling for a separation of money and state, thinking it is high time to put financial power back into the hands of the people.

Also read: Bank Closures and Withdrawal Restrictions Anger Lebanese Citizens

Mass Unrest Over Bank Closures and Withdrawal Limits

There’s been no end to Lebanon’s troubles since last fall, when banks locked their doors to the public in fear of running out of cash to supply panicked and angry customers. Withdrawal limits were imposed and demonstrators in the country have been protesting what they view as deep-seated political corruption and mismanagement of the country’s wealth. Tax hikes, austerity measures, and accusations of high-level embezzlement fuel the fire of unrest which continues today.

As news.Bitcoin.com reported in January, banks began to close yet again, with the Lebanon Association of Banks reportedly calling for the closures in light of public anger and threats to bank employee safety. There was also one documented occurrence of a 10-hour standoff between an angry customer and a bank office in Halba.

Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls

More Lebanese Turn to Bitcoin in Midst of Suffocating Capital Controls

A new report from regional outlet Al Jazeera details that some in the country are turning to bitcoin to stave off the dire financial straits imposed by the state. According to the report, there is currently a cap of $50 – $100 a month on foreign currency withdrawals, and international transfers for what the state deems “necessary matters,” are limited to $50,000 a year.

This presents a big problem for the Lebanese people, who are forced to withdraw their funds in limited amounts at an official rate which doesn’t match the parallel market. Lebanese must accept their cash at about a 40% loss thanks to the centrally mandated rates.

A Lebanese engineer named Maher described his plight to the outlet, saving up money working out of country and depositing it into Lebanese banks, only to see the value crushed by economic crisis. He and others are now moving into bitcoin to get around the impositions. One trader, Mahmoud Dgheim, states:

Right now, Lebanese are interested in escaping tight restrictions on cash withdrawals and transfers … If you want to go around the banking system, bitcoin is a solution.

A Beirut-based trader emphasized, “Before the uprising, bitcoin gave me supplementary income, but now, it’s definitely become the primary.”

Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls
Bitcoin is selling at a high premium in Lebanon. Source: localbitcoins.com

Bitcoin is definitely selling at a significant premium in the country, at least according to offers listed on Localbitcoins.com. The average price of the buy listings at time of writing is roughly 19,863,466 Lebanese pounds per BTC, or about $13,165, with the market price on most tickers currently reading just over $8,600 for one coin.

OTC Trading a Popular Method for Moving Money

According to Al Jazeera’s report, messaging services like Whatsapp are popular means for connecting buyers and sellers, so that OTC (over-the-counter) transactions can take place. The outlet details that even businesses are leveraging OTC trade to pay their employees with bitcoin. Another method sellers in the country leverage is the acceptance of verified banker’s cheques. Whatever the means, the fact that traders are taking a risk on volatile Lebanese banks and the embattled local currency to facilitate movement of BTC is strong testament to the newly invigorated market.

Don’t want to blow it out of proportion, a lot of Lebanese cannot move to Bitcoin due to banks/OPEC sanctions.

But now, Bitcoin in Leb is starting to look like a real thing. https://t.co/PUurv3YF2y

— David Hollerith (@DsHollers) February 25, 2020

Trader @CryptoLira, who reportedly manages sizable accounts in the Middle East, also contributed to the piece, noting that “They just want to get their money out of Lebanon – we’re talking really large sums,” and that these accounts are doing so at a loss. Most emphatically the trader proclaimed:

If you’re fighting for a world where bitcoin is a main currency, you’re fighting for the end of all governments. We had the separation of church and state – today, bitcoin is working towards the separation of money and state.

Lebanese traders can also leverage the peer-to-peer trading platform local.Bitcoin.com, where the marketplace and encrypted chat allows for private exchange of physical goods and multiple fiat currencies for bitcoin cash with no KYC policy. Whatever the means chosen by Lebanese seeking to preserve their hard-earned value, the volatile climate in the country is just one more testimony to the necessity of peaceful, permissionless, peer-to-peer electronic cash.

What do you think about the situation in Lebanon? Will bitcoin become more and more popular as the banking crisis unfolds? Let us know what you think in the comments section below.


Images courtesy of Shutterstock, fair use.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Lebanon Fights for Separation of Money and State as Residents Use Bitcoin to Evade Capital Controls appeared first on Bitcoin News.

Filed Under: Bank Closures, Banque du Liban, BTC, Capital Controls, Central Bank, English, Financial Sovereignty, Government, International Transfer, Lebanon, Lebanon Central Bank, Lebanon Protests, Local Bitcoins, Local.bitcoin.com, News, News Bitcoin, OTC, Regulation, remittances, unrest, withdrawal limits

Next Step Mobile Surveillance: How You Walk, Your Heartbeat – Why Bitcoin Matters to Combat Government Privacy Invasion

26/02/2020 by Idelto Editor

Next Step Mobile Surveillance: How You Walk, Your Heartbeat – Why Bitcoin Matters to Combat Government Privacy Invasion

It may sound like something from a dystopian cyberpunk movie, but payment providers could soon be validating transactions by the way users walk, their heartbeat, veins, and more. Mastercard has recently revealed they “have been testing heartbeat, vein technology, and the way people walk to authenticate people.” The high tech proposal, designed to fight hackers and increase convenience, could be a serious issue for people viewing such measures as unnecessary and invasive, where Bitcoin solves many of the challenges facing online finance already.

Also read: Wikileaks Gathers $37M in BTC Since 2010 – Over $400K Sent After Julian Assange’s Arrest

Mastercard to Map Your Walk

Mega payments provider Mastercard recently revealed to financial news outlet Marketwatch that “We are working with transport organizations where your face or gait will authenticate you.”

While facial recognition software is becoming more and more widely utilized in security, and the field of biometrics continues to evolve rapidly, most everyday people still haven’t considered that something like their gait, or style of walking, could be a means of identification. The tech will ostensibly be able to utilize CCTV, amongst other means, for allowing services such as boarding of public transport.

The president of cyber and intelligence solutions for Mastercard, Ajay Bhalla, told the news outlet:

The way you hold your phone, which ear you use, and how your fingers touch the buttons are all unique to you. We have been testing heartbeat, vein technology, and the way people walk to authenticate people.

For those that think they’ll be able to outsmart this type of tech if it falls into the wrong hands or is abused, they may want to think again. As coronavirus fear grips China and residents are required to wear masks for protection, Chinese AI startup Sensetime has already announced the rollout of new tech which can read 240 facial key points, allowing identification of individuals even if they’ve donned a mask.

Source: Reuters

Demonizing and Ignoring Bitcoin

The Mastercard exec also told Marketwatch that “The world is changing at a fast pace. Hackers are figuring out how to attack individuals to get their credentials.”

This narrative of payments becoming increasingly electronic and the need for greater online security is not new. In fact, the United States Federal Reserve announced last summer they are developing a new, fast and secure payments system called Fednow. Federal Reserve Board Governor Lael Brainard stated at the time, “Everyone deserves the same ability to make and receive payments immediately and securely, and every bank deserves the same opportunity to offer that service to its community.”

MasterCard: your personal stalker

“The way you hold your phone, which ear you use, and how your fingers touch the buttons are all unique to you.We have been testing heartbeat, vein technology,and the way people walk to authenticate people”#PrivacyFirst https://t.co/ZrZzF7vIHh

— Olga Ukolova [LNP/BP] (@OlUkolova) February 14, 2020

The thing is, we’ve already got that. It’s called bitcoin. Not able to be hacked if stored non-custodially, and not subject to centralized censorship at a protocol level, Satoshi’s creation is one of the most secure payment networks there is. Further, transactions can be obfuscated for greater privacy.

The real issue at hand becomes apparent when a critical common thread between narratives from China, the Fed, and companies like Mastercard emerges: the promotion and cultural whitewashing of unmitigated, highly invasive surveillance.

Often, when solutions like bitcoin are presented as viable options to the authoritarian class, the response is the same: users of bitcoin are criminals, because who else would want to use money that isn’t centrally controlled? U.S. Treasury Secretary Steven Mnuchin has even gone as far as making the absurd claim that U.S. dollars are not used for criminal activity, stating:

I don’t think it’s been successfully done with cash. I’ll push back on that. We’re going to make sure that bitcoin doesn’t become the equivalent of Swiss-numbered bank accounts.

Anti-money laundering narratives have become the central focus for global financial regulators, and are putting more and more users of crypto out of business and out of wealth. All this when the latest report from state-connected blockchain forensics group Chainalysis shows that less than 1% of crypto usage centers on darknet market activity.

Contrasted with governments’ nasty track records of money laundering, drugs and human trafficking, debasement of currencies, and outright murder euphemized as ‘collateral damage’ in warfare — all financed mainly by the fiat shitcoin known as USD — bitcoin appears to be about as threatening as a toy poodle. It’s important to remember, though, that it does have teeth.

Regarding crypto’s threat to centralized systems like Fednow, former congressman from Texas, Ron Paul, remarked in August: “This will be bad for consumers and real-time entrepreneurs but good for power-hungry Federal Reserve bureaucrats who will no doubt use Fednow to help ‘protect’ the Federal Reserve’s fiat currency system from competition from crypto currencies.”

Why Bitcoin Matters to Fight Surveillance

Biometrics provides some great opportunities for security and convenience, affording free market actors cutting edge solutions for their businesses and everyday lives. When it comes down to brass tacks, however, less invasive payment solutions such as bitcoin are not favored by lawmakers, as they’ve stated explicitly that the decentralized and immutable nature of crypto threatens the very stability of the global economy itself.

According to a research opportunity posting from the U.S. Office of the Director of National Intelligence: “Many cryptocurrency enthusiasts predict that either a global cryptocurrency or a national digital currency could undermine the U.S. dollar … The U.S. should prepare for scenarios that threaten to undermine the U.S. dollar as the world reserve currency and determine how those scenarios could be overcome, protecting our status in the global economy.”

The real question about all the surveillance coming down the pike is an easy one. Namely, whether these measures will be voluntarily assented to, or whether they will be forced on people. For example, will someone still be able to open a bank account or board a train if they don’t want their vascular tissue analyzed? It’s an uncomfortable reality most don’t want to look at, but ultimately, when it comes to ensuring compliance the state has but one tool, and it ain’t reasoned verbal persuasion.

Bitcoin is very different from any Fednow service, digital Yuan, or Mastercard payment system because the user — and not some third party — controls it. That’s what really seems to get the goat of lawmakers. How far people will go to fight for this financial privacy bitcoin affords them remains to be seen, but let’s hope the shift is more of a philosophical one than is brutal.

What are your thoughts on Mastercard’s proposed verification systems? Let us know in the comments section below.

Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.


Images courtesy of Shutterstock, Reuters, fair use.


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The post Next Step Mobile Surveillance: How You Walk, Your Heartbeat – Why Bitcoin Matters to Combat Government Privacy Invasion appeared first on Bitcoin News.

Filed Under: biometrics, Bitcoin, Bitcoin Cash, Blockchain Forensics, Cash Fusion, CCTV, Chainalysis, Crime, Darknets, English, Fednow, Financial Sovereignty, Free Market, Government, Lael Brainard, MasterCard, Money Laundering, News Bitcoin, Op-ed, Ron Paul, Satoshi, Steven Mnuchin, surveillance, Transportation, Voluntaryism

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