Liberal MP departs from party line on Bitcoin

Canadian Liberal MP Joel Lightbound, who previously disagreed with his own party on Covid mandates and the Freedom Convoy, has does so again with praise for Bitcoin. 

Liberal MP strays from party by endorsing Bitcoin | True North | Cosmin Dzsurdzsa:

November 1, 2023 - "Liberal MP Joel Lightbound made an unexpected endorsement of Bitcoin during Tuesday’s session in the House of Commons, contrary to past denouncements of the cryptocurrency by the Liberal government. The Quebec MP highlighted how Bitcoin can help people in tough financial situations and those living under oppressive regimes. He encouraged everyone, especially progressives, to study Bitcoin, stating that it represents a progressive idea.

“'Over the last decade, we have seen Bitcoin empower the underbanked, as well as those living in oppressive regimes,' Lightbound explained. 'Women, for instance, use Bitcoin all over the world to evade unjust restrictions on their financial freedoms. It has also helped thousands of families avoid the tragedy of currency debasement....

''I do own Bitcoin, I am not advocating for anyone to buy it, but I do advocate for everyone to study it, progressives in particular, because, after all, Bitcoin was born in the midst of the great financial crisis as an alternative to big banks, greed, and the system that never failed to bail them out. It stands for a truly progressive ideal,' Lightbound stated.

"This endorsement of Bitcoin stands in contrast to the criticism the Liberals have directed at Conservative leader Pierre Poilievre, who has previously praised the digital currency. Last year, Prime Minister Justin Trudeau criticized Poilievre’s suggestion that Bitcoin could be used as a hedge against inflation.... 

"Poilievre has been an outspoken supporter of Bitcoin, even pledging to make Canada a blockchain hub while he ran for the party’s leadership. 'Government policies are harming the Canadian dollar, so Canadians should have the option to use other currencies, like Bitcoin,' Poilievre stated during a rally last year.

"This is not the first time MP Lightbound has strayed from his party’s stance on certain issues, last year he voted in in support of a Conservative motion to end Covid-19 restrictions and mandates." 

Read more: https://tnc.news/2023/11/01/liberal-mp-endorse-bitcoin/

Joel Lightbound Bitcoin speech canadian parliament 31.10.2023 - 15th BTC Whitepaper Day! | Mission Bitcoin | November 2, 2023:

Freedom Convoy crowdfunding continuing

Frozen out of GoFundMe, Canadian protest convoy raises millions on Christian site | Washington Post - Paulina Villegas and Reis Thebault:

February 7, 2022 - "After being denied several million dollars raised on GoFundMe, organizers of a trucker-led protest disrupting life in Canada’s capital have found a new platform: a Christian crowdfunding site where they raised more than $3.5 million in two days to demonstrate against the country’s vaccine mandate. The new fundraiser hosted by GiveSendGo, which describes itself as the '#1 free Christian crowdfunding site,' reported Sunday that the 'Freedom Convoy' campaign had raised several million dollars two days after GoFundMe announced that it was freezing more than $8 million in donations to the cause....

"GoFundMe said Friday that it had removed a fundraiser for the convoy that had raised more than $8 million because it violated its terms of service. The company said it had released an initial $1 million in donations to Freedom Convoy organizers last week after they provided a clear distribution plan and confirmed that they would only be used for those participating in a peaceful protest. But after receiving evidence from law enforcement that the 'previously peaceful demonstration has become an occupation,' the company said no additional funds would be distributed to its organizers and instead donors would have two weeks to submit a request for a refund, the company said. GoFundMe then would work with convoy organizers to send the remaining money to other charities.

"GoFundMe’s decision aroused conservative ire on both sides of the border, drawing special scrutiny from several Republican attorneys general, who pledged to investigate the platform. On Friday evening ... West Virginia Attorney General Patrick Morrisey (R) asked residents who have 'been victimized by a deceptive act or practice' to report it.... By Sunday, at least four other states — Florida, Louisiana, Ohio and Texas — had done just that, promising to investigate GoFundMe for allegedly deceptive practices. The threats of an investigation continued even after the platform announced Saturday that it would refund all contributions automatically amid the donor backlash. The company did not respond to an inquiry Sunday from The Washington Post."
Read more: https://www.washingtonpost.com/world/2022/02/07/canada-protesters-fundraising-platform/

illustration courtesy TallyCoin

This is just gonna explode’: How Bitcoin bigwigs’ ‘HonkHonk’ came to fundraise for Canada’s ‘Freedom convoy’ | Toronto Star - Alex McKeen:

February 7, 2022 - "Bitcoin investors who want to 'orange pill' the world and create a financial system outside of government regulation are rallying to join forces with — and raise money for — the 'Freedom convoy' protest in Canada. The group of five men will exclusively control the donations — which have so far reached around $500,000 CAD — and they say they want to show that cryptocurrencies are the libertarian money of the future....

"Greg Foss, Jeff Booth and two other men who go by the pseudonyms BTC Sessions and Nobody Cariboo all invest in Bitcoin and other cryptocurrencies, and create videos, books and online courses promoting cryptocurrency as a key component of a future financial system that is free from government oversight. Now, they’ve teamed up with B.J. Dichter, one of the original organizers of the Freedom Convoy to Ottawa — and pulled in donations from cryptocurrency-rich investors known as 'whales' — to raise money for the protest’s anti vaccine-mandate and anti-restrictions cause.... The bitcoin fundraiser is being hosted on the website TallyCoin and has attracted more than 4,000 donors....

"The convoy, which has been carrying on an occupation-style protest in Ottawa for 11 days, and has inspired other anti-mandate protests across the country, had raised more than $10 million on the fundraising platform GoFundMe. It was started by Alberta woman Tamara Lich, with Dichter having been added later as another organizer. GoFundMe cancelled the fundraiser, however, after Ottawa police contacted the platform.... The cancellation of the fundraiser ... created an immediate backlash from supporters of the convoy, as well as a host of American right-wing politicians, including Florida Gov. Ron DeSantis, who said it was evidence of bias from GoFundMe. It also appears to have been a launching pad for Bitcoiners promoting their own anti-establishment messages.

"Two days before the GoFundMe was cancelled on Feb 4, an online personality known as “HonkHonk Hodl” had set up an alternative fundraiser — and its pitch for 'censorship resistant' fundraising using Bitcoin started to take off. On Sunday evening, the fund even got a donation of an entire Bitcoin, more than $50,000 CAD from Jesse Powell, who heads Kraken, one of the highest value cryptocurrency exchanges in the world....

"Foss, 58, is from Oakville, Ont., and had a long career in the financial industry before retiring and diving headfirst into Bitcoin enthusiasm. 'I believe it to be the most beautiful financial and technological innovation I’ve ever seen,' he told the Star in an interview Monday. 'And it was made for situations like this weekend, where you have a centralized platform that decides upon on their own volition that the funds raised on that platform are not going to be distributed to the people that the funds were raised for. And it’s very scary.'"
Read more: https://www.thestar.com/news/canada/2022/02/07/this-is-just-gonna-explode-how-bitcoin-bigwigs-honkhonk-came-to-fundraise-for-canadas-freedom-convoy.html

Bitcoin mining helps save historic hydro plant

Mechanicville hydro plant gets new life | Albany Times-Union - Kathleen Moore: 

July 7, 2021 - "A hydroelectric plant with a historic claim to fame was nearly dismantled. Now it's been nominated for national engineering landmark status. 'We think this is the oldest renewable energy facility in the world that’s still running,” said Jim Besha Sr., CEO of Albany Engineering Corp., which owns the Mechanicville hydroelectric station [in Saratoga co., New York - gd]. They can no longer say it has been in continuous operation since it was built in 1897. But it’s working now, after years spent rebuilding a plant that was abandoned by National Grid.

"Despite getting the plant back to full power, there's not a lot of profit in running a plant that still uses all of the original 1800s machinery. That's why some of the plant's energy is now being used to produce bitcoin. 'We can actually make more money with bitcoin than selling the electricity to National Grid,' Besha said. Albany Engineering Corp. gets 3 cents per kilowatt hour when it sells energy to National Grid. Mining bitcoin, an electronic currency, makes three times as much money, Besha said. 

"'It’s the best (type of bitcoin mining) because we’re using renewable energy,' Besha said. “We’re just doing it on the side, experimenting with it. We're buying used servers.' He converts the thousandths of a bitcoin they make each week to cash, rather than holding onto it.... One bitcoin is ... worth about $33,000 [as of July 2021 - gd]....

"It all started in 1986, when National Grid asked Albany Engineering Corp. to refurbish and operate the plant, which provides power to two 2-megawatt transformers.... They signed a contract and he started the preservation work, while also applying for an independent license to operate the plant ... [which] finally was approved in 1993. Throughout that time, the plant was producing power that was sold to National Grid for a price under market rate, as agreed to in the contract. 

"But when Besha got the license, he learned that National Grid’s plans had changed.... 'National Grid called me up the next day and said, we’re not going to honor this contract. And if you don’t like it, take it to the judge,' Besha said. National Grid wanted to dismantle the old, small plant instead....

"Besha sued. It took 10 years to reach a settlement. But one of the first things Besha had done, when his company started work on the plant in 1986, was to get the plant listed on the National Register of Historic Places. That listing kept the plant from the wrecking ball while the case wound its way through the court system. Historic preservationists joined the fight, insisting that the structure be saved even if it couldn’t be used anymore. In the meantime, the plant itself began to fall apart. National Grid refused to buy the power during the dispute, and eventually Albany Engineering Corp. couldn’t run it anymore....

"In the end, National Grid agreed to give up the plant, pay for repairs to help with damaged incurred during the long court case, and to pay market rate for the power produced there, an increase over what they had contractually agreed to pay. On Aug. 6, 2003, Albany Engineering Corporation moved back in and surveyed the damage. They had to redo everything they'd done two decades earlier.... It took 30 days to get the plant running again and years to rebuild everything that had been damaged....

"Now, the plant has been nominated for landmark status in three different types of engineering: civil, electrical and mechanical. That will add to the National Register protection to keep the plant intact for, possibly, centuries to come, Besha said."

Read more: https://www.timesunion.com/news/article/Mechanicville-hydro-plant-gets-new-life-16299115.php

Mechanicville Hydroelectric plant in 1884, Public domain, Wikimedia Commons.

Laos legalizes Bitcoin mining and trading

Asian Nation Laos to Legalize Bitcoin Mining And Trading | Bitcoin Magazine - Alex McShane: 

September 16, 2021 - "The Southeast Asian nation of Laos changed its official policy on September 9, authorizing six companies to trade and mine Bitcoin in a trial run while the government begins to draft regulations about its use. According to The Laotian Times, the news follows a September 9 notice from the office of the prime minister permitting the firms, which include construction groups and one bank, to start mining and trading Bitcoin.

"The traditionally conservative government’s authorization of Bitcoin mining and trading marks a shift in stance, as last month the country’s central banks warned companies and individuals against cryptocurrencies, according to the local news source.

"The population of Laos is seven million. With a hydropower potential of 26.5 Gigawatts, the Lao People’s Democratic Republic is one of the most hydropower resource rich countries in Southeast Asia, which is ideal for profitable and sustainable Bitcoin mining. The companies that have been authorized to trade and mine Bitcoin include Wap Data Technology Laos, Phongsubthavy Road & Bridge Construction Co., Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey Co., Ltd., Joint Development Bank, and Phousy Group.

"A host of government agencies, led by the Ministry of Technology and Communications, are now tasked with researching and determining rules and regulations governing the use of Bitcoin and other cryptocurrencies in Laos, including the Ministry of Finance, Ministry of Planning and Investment, Ministry of Energy and Mines, the Ministry of Public Security, the Bank of Laos and the Électricité du Laos. The proposed regulations will be discussed at a meeting hosted by the Prime Minister on September 16 and 17, and notably follow the ongoing exodus of mining firms from China, the former market leader in the sector."

Read more: https://bitcoinmagazine.com/culture/asian-nation-laos-to-legalize-bitcoin-mining-and-trading

Seasteading project revived in Panama

This libertarian Bitcoin trader wants to build a city on the sea | Decrypt - Adriana Hamacher:

Jun 25, 2020 - "Chad Elwartowski, an American software engineer turned Bitcoin trader, is one of the leading lights of the 'seasteading' movement — a libertarian drive to build independent floating cities on the high seas. Right now,  he's constructing a prototype for 'the world’s first 3D-printed, smart, floating home,' off the Caribbean coast of Panama. A prior effort, in Thailand, was towed off by the Thai navy in 2019.

"Interest in seasteading is enjoying a renaissance among libertarian tech millionaires, keen to escape the threat of increasing government surveillance. The movement has come a long way since entrepreneurs Peter Thiel and Patri Friedman (grandson of eminent economist Milton) launched the Seasteading Institute in 2008.....

"But Elwartowski’s vision has changed since his first attempt at seasteading in Thailand, when he and his Thai partner Supranee Thepdet were forced to flee, dodging Thai patrol boats. He was tipped off that the authorities had determined that the fiberglass cabin, on top of a floating pole, posed a threat to the country's sovereignty — punishable by death.

"Now, they’ve settled in Panama and joined a local business called Ocean Builders, which is creating 30 'seapods,' and selling them on the open market for between $200,000 to $800,000 each. The pods will be registered as boats under the Panama flag for legal purposes....

"In 2017, the French Polynesian government approved the Seasteading Institute’s plans for an autonomous community near the French Polynesian coast, using a cryptocurrency called Varyon. However, the authorities rescinded ... approval a year later, in response to objections of 'tech colonialism' by the residents of Tahiti....

"Friedman is now involved in the Marshall Islands’ scheme to introduce a sovereign digital currency.... He and Thiel have moved on to self-governed 'charter cities' in developing countries, allowing international firms to set up shop in the semi-autonomous zones. The project takes the form of a venture fund, bolstered by $9 million in funding from Thiel, as well as investors and Bitcoin heavyweights Marc Andreessen, Roger Ver, and Balaji Srinivasan."

Read more: https://decrypt.co/33468/this-libertarian-bitcoin-trader-wants-to-build-a-city-on-the-sea

Jorgensen on lockdowns, crypto, and the Fed

2020 Libertarian Presidential Candidate Jo Jorgensen Talks Bitcoin, Endless Wars, Covid-19 Response | News.Bitcoin.com - Jamie Redman:

June 9, 2020 - "On June 8, news.Bitcoin.com ... discussed a number of issues with the Libertarian 2020 presidential candidate Joanne Jorgensen, otherwise known as 'Jo.' The Libertarian nominee is a well known political activist and academic researcher during the last few decades.... 

"BC: What are your thoughts on how the US government handled the coronavirus outbreak —  specifically the business shutdowns and lockdown orders?...
JJ: It was tragic, they put us all under house arrest and tens of millions of people lost their jobs. Many of those jobs are not coming back. One of my grandfathers immigrated from Sweden and his family came to America for freedom. You know the land of the free and home of the brave. And while we are all under lockdown, the old country that he left they were all out walking about, going to school, going to restaurants, and having a general freedom that you would expect Americans to have.

"BC: Since the coronavirus and even months prior, the US Federal Reserve has created trillions of dollars and it has been distributed to private dealers and interests. What are your thoughts on the Fed and how would you address this private bank as President?
JJ: First all the Federal Reserve should have never been created to begin with. Unfortunately, they are teaching history a little wrong in the textbooks these days. Because a lot of people say that if it wasn’t for the Fed stepping in, the Great Depression would have been so much worse. But actually the Federal Reserve caused the problems....

"[T]he first thing I would do if I was President of the United States would be to audit the Federal Reserve.... Eventually, I’d like to see the Fed abolished. Because through the Federal Reserve we get money created out of thin air, which is basically the equivalent of counterfeit money....

"BC: A great number of Libertarians like money such as gold and silver. However, in recent years many free-market advocates support bitcoin. What is your stance on Bitcoin and the cryptocurrency economy?
JJ: A message from the Libertarian Party platform says: 'We favor free-market banking with unrestricted competition among banks and depository institutions of all types — Individuals engaged in voluntary exchange should be free to use as money any mutually agreeable commodity or item. We support a halt to inflationary monetary policies and unconstitutional legal tender laws.'

"So a number of people say that they want to back USD with gold. That would be a step in the right direction, but that is not enough. We have competition in cars, competition with computers, and competitive grocery stores. Why not have competition with money? So the people have access to something that is more planned and a monetary system they can better predict. Right now what we have is money that’s created under the whims of Congress and the Federal Reserve Chair.

"I would act in support of a free market in currencies. Some people say that the constitution authorizes the federal government to create currency, just like it authorizes the creation of the post office. But in neither case, does the constitution give the federal government a monopoly on currency or the delivery of mail. Businesses should be able to trade and accept whatever they want and that would mean bitcoin and all the other cryptocurrencies....

"I would enact Ron Paul’s Free Competition in Currency Act. This would repeal legal tender laws and taxes on coins and monetary metals. And it would repeal the prohibition on coining money. Also, I would repeal the Bank Secrecy Act, Know-Your-Customer (KYC), and other laws that violate our right to financial privacy. Many people go to bitcoin because they do want privacy so I would work to repeal those unjust laws.

"I would also appoint commissioners to the CFTC and the SEC who would then seek to deregulate Bitcoin and other crypto-assets. I would appoint leaders at the Treasury Department, who would be told to leave bitcoin and crypto operations alone. Lastly, I would pardon Ross Ulbricht, the individual who operated the Silk Road (SR) marketplace. Ulbricht is serving more than one life sentence in prison for nonviolent offenses, partly because some of the SR members were selling drugs for bitcoin."

Read more: https://news.bitcoin.com/2020-libertarian-presidential-candidate-jo-jorgensen-talks-bitcoin-endless-wars-covid-19-response/

Free Staters make Keene NH a 'crypto mecca'

Keene New Hampshire Is Not Only a Libertarian Enclave - It's Also a Crypto Mecca - Bitcoin News - Jamie Redman:

September 6, 2019 - "New Hampshire is well known for having a large number of libertarian residents since the Free State Project (FSP) started a movement of political migration in 2001 [to] the low-population New England state. Libertarians in the region promote free markets, stand against war, and are either completely anti-state (anarchism) or believe in a very limited government (minarchism). Many of these activists who migrated to New Hampshire are strewn across the state but there are dense regions of libertarian proponents in places like Keene, Portsmouth, and Manchester. Due to the vast amount of free market believers, there’s a slew of businesses in places like Keene that accept digital currencies like bitcoin cash. The liberty loving blog, Free Keene, revealed that the Monadnock Decentralized Currency Network managed to persuade a bunch of mom-n-pop shops to accept cryptocurrencies over the years.

"In fact, throughout the lifetime of the Free State’s activism spent bolstering the concepts of liberty and voluntaryism, the people living there have created a cryptocurrency mecca. Free Keene blog author, Ian Freeman (also the co-host of Free Talk Live) explained ... that ... Keene has a wide variety of digital currency-accepting businesses and lots of them use the Anypay payment processor.

"Freeman details that according to data stemming from the Anypay and Marco Coino merchant map there are 15 bitcoin cash-accepting businesses in the region. This works out as a ratio of 'one business for every 1,533 people,' Freeman explained. The Anypay merchant map not only shows people where crypto merchants are located, but also displays when someone purchases something with cryptocurrency....

"The Bitcoin Embassy New Hampshire located in Keene is also well known for its Bitcoin radio advertisements that promote the benefits of cryptocurrencies and free markets. Starting in 2016, the commercials were syndicated on 'The Peak' (101.9 WKKN-FM Keene, 100.7 WTHK-FM Wilmington, VT, and 104.7 W284AB Jamaica, VT) seven days a week from 3pm-6am EDT. 'Bitcoin is a powerful local currency that can also be used internationally. It’s Keene to buy local, and Bitcoin empowers local business owners to keep more from each sale, rather than sending 3% outside of the area to credit card companies,' the radio ad’s message said.

"More recently, due to the frictionless and low network fees on the Bitcoin Cash network, activists in Keene have been opting to use and promote BCH regularly. Last summer, Freeman helped launch a new website called Cryptotip.org that creates cryptocurrency tips from bitcoin cash (BCH) and dash, making it easier for residents to tip people in sound money.... The cryptocurrency Dash has a decent-sized following in Keene too and many Dash supporters live in the FSP region.

"The ... Free Keene blog explained ... that 'Keene and Portsmouth, New Hampshire are two hotspots in the world of cryptocurrency'.... Alongside being a crypto mecca, Keene and New Hampshire also have a lot more to offer to people who are interested in libertarianism and plan to join the ongoing NH Freedom Migration."

Read more: https://news.bitcoin.com/keene-new-hampshire-is-not-only-a-libertarian-enclave-its-also-a-crypto-mecca/
'via Blog this'

How the Bitcoin Protocol 'changes everything'

How To Understand Bitcoin If You're Over 40 - Matt Hougan, Forbes:

August 15, 2019 - "Those of us who are over 40 can remember a time when the internet stunk: When you had to look up websites in a (printed) book; when email didn’t exist; when you couldn’t do much with the internet except send files ... using something called 'FTP' [or] 'file transfer protocol.'  'Protocol' is a fancy word that means a set of insructions for how to transfer information across the internet....

"In 1982, researchers developed ... the Simple Mail Transmission Protocol, or SMTP. SMTP allowed us to send email over the internet.... In 1989, we took another big step forward with the creation of Hypertext Transfer Protocol, or HTTP. HTTP lets us send webpages with linked text (or 'hyperlinks'). It gave rise to the World Wide Web.

"In 1994, the Secure Sockets Layer protocol was created, better known as SSL. SSL allows us to securely enter sensitive information into the internet, like personal or credit card information. Not coincidentally, Amazon was founded later that year.... Voice Over Internet Protocol, or VOIP, created 1995, changed telecom forever; Real-Time Streaming Protocol, or RTSP, created in 1996, helped enable streaming video. And so on. From a distance, each of these advances seemed unprecedented. But in reality, they were just the next logical thing: a new protocol that expanded the way the internet can be used.

"The right way to think of bitcoin, crypto, and public blockchains is as the next step in this evolution. Just instead of sending files or email or voice or credit card data, bitcoin and crypto let us send money. Of course, there have been online banks and payment services for decades. But they’ve always been hybrids or bridges: A bank like Wells Fargo or a service provider like PayPal might put up a digital veneer, but it would actually extract each transaction and process it in the traditional, physical world....

"The Bitcoin Protocol’s breakthrough – the reason 'it changes everything' – is that it lets you send money over the internet natively, without a bank or a service provider in the middle.... If you want to wire $10 million to someone in another country today, for instance, it takes three-to-five days, they can deny your wire for any reason or create limits, and the fees are significant. With bitcoin, it takes about 10 minutes, it’s open 24/7, and is essentially free.... Instead of using lawyers and investment bankers, you can create any contract or trust or entity or set of financial instructions … for free.... That means disrupting services like escrow, debt issuance, derivatives, trust creation, fundraising, and more....

"[T]o move money around the world instantly on the Bitcoin blockchain, or to replace your investment bankers with the Ethereum blockchain – you have to own and use bitcoin or ether.... A lot of smart investors are buying up bitcoin and ether today, before everyone else figures out how valuable these new technologies can be....

"[E]very major new internet protocol has disrupted a major industry:

• SMTP created email and disrupted the Post Office;
• HTTP created the web and disrupted media and advertising;
• SSL created internet commerce and disrupted retail;
• RTSP created streaming and disrupted the entertainment industry.

"By allowing money to travel over the internet, Bitcoin and crypto will disrupt the financial industry just as surely as Amazon disrupted Sears."

Read more: https://www.forbes.com/sites/matthougan/2019/08/15/how-to-understand-bitcoin-if-youre-over-40/#3eafc04b47a5

'via Blog this'

Indian government wants to ban Bitcoin

Its Official: Indian Government Wants to Ban Bitcoin - Davit Babayan, Bitcoin News:

July 22, 2019 - "The inter-ministerial committee set up by former Indian finance minister Arun Jaitley recommends a ban on bitcoin.

"According to a report published today, the Subhash Garg committee believes that cryptocurrencies cannot serve the purpose of currency. Calling them “'rivate cryptocurrencies” over their non-sovereign nature, the committee wrote that they are inconsistent with the essential functions of money/currency, adding that they support the stance taken by the Reserve Bank of India [RBI] to impose a banking ban on them.

The committee endorses the stand taken by the RBI to eliminate the interface of institutions regulated by the RBI from cryptocurrencies. The Committee also recommends that all exchanges ... and other financial system participants should be prohibited from dealing with cryptocurrencies.

Accordingly, the Committee has recommended a law banning the cryptocurrencies in India and criminalising carrying on of any activities connected with cryptocurrencies in India.

"The inter-ministerial report follows months of confusions regarding the bitcoin’s legal status in India. Bloomberg Quint in early June claimed that the Narendra Modi government wanted to impose 10-year prison-time on cryptocurrency traders. The news service cited a piece of paper that allegedly was a part of an anti-crypto draft bill. A month later, another document from the same law showed that the Indian government was looking to ban cryptocurrencies. Nevertheless, Ministry of Finance representative Anurag Singh Thakur ... wrote in response to lawmakers that a government-appointed Interministerial Committee [was] looking into the matter....

"India’s Ministry of Finance is now able to stamp the Garg committee proposal, meaning it would soon come before the lawmakers in the lower and upper house of the Indian parliament. A ban would go into effect once the majority of politicians would approve it, which is most likely since both the houses have the Narendra Modi government in [a majority].

"The last thing standing between Garg Committee’s proposal and a full-fledged bitcoin ban is the Supreme Court of India. On July 23, the apex court is likely to give verdict on whether or not the RBI ban on bitcoin [is] unconstitutional."

Read more: https://www.newsbtc.com/2019/07/22/its-official-indian-government-wants-to-ban-bitcoin/

'via Blog this'

Roger Ver keeps attention on Ross Ulbricht case

'Bitcoin Jesus' Preaches Libertarian Gospel of Crypto & Crack Cocaine - P.H. Madore, CCN:

May 11, 2019 - "Roger Ver took to YouTube to read another letter from Ross Ulbricht, creator of the first darknet market using Bitcoin. The libertarian idealist used the opportunity to rail against the war on drugs.... Ver – once nicknamed 'Bitcoin Jesus' for his rabid crypto evangelism –  is more recently best known as a major proponent of Bitcoin Cash, which he views as remaining more faithful to the vision of Satoshi Nakamoto than Bitcoin....

"Ulbricht ... is currently serving a [double] life sentence in federal prison for his role in providing a safe place for people to buy and sell drugs online. Some have argued that Silk Road created the first real demand for Bitcoin, which was the only currency used on the website....

"After reading the letter, Roger Ver unleashed an emotional monologue about the war on drugs, of which he believes Ross Ulbricht is an unfortunate victim. He presented a boilerplate libertarian stance that drugs should not be illegal, in any form....

And just because some people get together and write some words down on paper and call it a law, that doesn’t alter morality one bit. And if people have the right to drink alcohol, they have the right to smoke marijuana – they have the right to smoke crack. Because their lives and their bodies belong to them and their lives and their bodies don’t belong to the politicians or the police officers or any of these other people....

"Ulbricht never sold drugs himself. The most involvement in the drug trade Ulbricht had was trying to grow mushrooms. Even so, he received the harshest sentence out of anyone ever arrested related to darknet markets.

"Governments worldwide have gone the opposite route from what Roger Ver and libertarians might prefer. Recently, DeepDotWeb, a clear net site devoted to the underworld of the web, was shut down and its domain seized. At least two of its operators have so far been arrested. This follows the capture of the proprietors of Wall Street Market, which had recently exit scammed.

"A substantial darknet bust coincided with the closure of Dream Market, leading some to speculate the events were correlated.

"In theory, it’s challenging to track users on the dark web and transactions made using certain privacy-enhancing technologies like cryptocurrency. The reality is that law enforcement often gets a big boost when it compromises just one or two individuals."

Read more and watch video: https://www.ccn.com/bitcoin-jesus-preaches-libertarian-gospel-of-crypto-crack-cocaine
'via Blog this'

World's 1st seastead home launched in Thailand

Couple Uses Bitcoin Wealth to Build World's First "Seastead" | NewsBTC - Rick D.:

March 1, 2019 - "An early Bitcoin investor and self-confessed libertarian has built the first 'seastead' with his BTC profits. For those who do not know, a seastead is a floating home designed to stay in international waters, thus allowing its inhabitants to live outside of the laws of any nation....

"Chad Elwartowski and Nadia Summergirl have become the first two reported individuals to permanently cast of the shackles of land and the laws enforced on it in favour of a life on the open sea. The pair have built the first seastead with help from Ocean Builders, a start-up dedicated to helping individuals move their lives to the ocean.

"The couple have financed the building of their floating home using money made from early Bitcoin investments. The structure cost them around $150,000, ... $30,000 more than they originally budgeted for. It measures six metres square and is octagonal in shape. The pair’s new home is spread across two floors.

"According to a report in Reason, Elwartowski had previously explored other avenues to satisfy his cravings for a truly free life. These included ​'Free State Project, Libertarian Party elections, and the Ron Paul campaign'....

"Summergirl is equally passionate about the idea. She says she was sick of hearing people talking about the concept of building floating communities whilst no one was actually going through with it. The Thai-born woman was also happy that the first project of its kind was happening close to where she grew up....

"Elwartowski and Summergirl’s new home has been out at sea since early February. The pair say they are continuing to commute back and forth to land for now though. They still have various commitments that need tying up before they hit the open waves for good. A recently purchased commuter boat should help them speed up their permanent relocation, however.

"Elwartowski states that the couple has made no effort to seek approval from the Thai government for their new home. He commented:

“'We have been keeping under the radar so far, but we follow all the laws of Thailand so it’s as if we’re just living on a boat in the water as far as they’re concerned.... All we expect from the Thai government is that they follow international law. We will be doing the same. But Nadia and I aren’t doing anything we can’t do on land.'”

Read more: https://www.newsbtc.com/2019/03/01/bitcoin-seastead/
'via Blog this'

Cryptocurrency community founded in Puerto Rico

Puerto Rico: Future Blockchain Utopia? | NewsBTC - Rick D.:

February 14, 2018 - "A group of cryptocurrency entrepreneurs have moved to Puerto Rico with the goal of setting up a libertarian utopia. The settlement was originally named Puertopia but now is known as Sol.... Lured by the promise of freedom, waves of cryptocurrency entrepreneurs have been moving to Puerto Rico ... following Hurricane Maria which desecrated the infrastructure there.... They’re led by Brock Pierce, the director of the Bitcoin Foundation and founder of Block.One.

"The entrepreneurs are hoping to transform the island of Puerto Rico along libertarian principles. The desperation created by ... the natural disaster ... has prompted some to welcome the early cryptocurrency advocates (or the money they bring with them). With few other influxes of outside capital, it’s hoped that the idea of a crypto utopia will allow for much-needed infrastructure improvements and repairs.

"According to the New York Times, the government of Puerto Rico is receptive to the influx of new money that the crypto entrepreneurs are bringing with them. [T]he governor ... agreed to speak at the group’s blockchain summit conference called Puerto Crypto... scheduled for ... March [2018].... Erika Medina-Vecchini, the chief business development officer for the Department of Economic Development and Commerce espoused further positive sentiment about the idea of new money coming to Puerto Rico courtesy of Sol....

"One of the first tasks for the community will be to restore the electricity infrastructure.... Not only will it make living on the island far more comfortable for those used to First World luxuries but it will allow for cryptocurrency mining, an endeavour many inhabitants have made their fortunes from. Naturally, this will benefit those native to the island too....

"There are certainly clear incentives for the libertarian-minded entrepreneurs to flash some cash to set up a community there. For one, citizens of the island do not need to pay Federal personal income taxes or capital gains. They will also benefit from hugely favourable business taxation too. Possibly the most alluring prospect about the site they’ve decided to call home is the fact that they don’t even need to renounce their US citizenship to relocate there."

Read more: https://www.newsbtc.com/2018/02/14/puerto-rico-future-blockchain-utopia/
'via Blog this'

John McAfee to run for POTUS while 'in exile'

John McAfee's 'in exile' 2020 campaign to include 'road warriors' wearing masks with his face - Claude Thompson, Washington Examiner:

January 23, 2019 - "Libertarian John McAfee is making another run at the presidency in 2020, but this time, he says it will be while he is 'in exile' and with the assistance of thousands of 'road warriors' dressed up in masks bearing his face.

"In a series of tweets and videos posted to Twitter this week, McAfee, the founder of the antivirus software company McAfee Associates, said he is on the run from federal authorities for allegedly using cryptocurrencies in 'criminal acts against the U.S. government'....

"'Rob [Loggia] and one of our other volunteers are creating masks of my face which are going to be given to thousands of people in two different groups," McAfee said. 'First our road warriors who, once a month, are going to appear in parks, street corners, restaurants all around America while I speak through loud speakers through them. Group Two are the people who will be going to conferences doing keynotes. I will be going to conferences as a surrogate. I will be looking at people through a camera, answering questions, shaking hands as I tell my surrogate to shake hands, and speaking. This is how we're going to do it.'

"McAfee, who first said last year he would run in 2020, has primarily been corresponding with people on Twitter and filming social media videos from his boat that he claims he's using as a hideout from federal prosecution.

"McAfee founded computer antivirus company McAfee Associates in 1987 and left in 1994. In the years since, McAfee has bounced around various technology companies and developed a penchant for cryptocurrencies like Bitcoin. While he was once valued at $100 million, the economic recession in 2008 led to his value dropping to $4 million, according to the New York Times.

"McAfee's current outlaw status, according to him, is based on his refusal to file tax returns in recent years because he subscribes to the common libertarian theme of a minimalist government. He said he believes cryptocurrencies will eventually prevent the government from collecting income taxes and force the federal government to downsize. He claims that a grand jury was brought together by the Internal Revenue Service to indict him on tax fraud charges but is now on a "freedom boat" that he says will be his home and campaign headquarters for the next two years....

"This is McAfee's second attempt at the presidency. He sought the Libertarian Party nomination in the 2016 election but lost that spot to Gary Johnson, who finished a distant third to Hillary Clinton and President Trump."

Read more: https://www.washingtonexaminer.com/news/john-mcafees-in-exile-2020-campaign-to-include-road-warriors-wearing-masks-with-his-face
'via Blog this'

Ohio accepting tax payments in Bitcoin

Why Ohio bitcoin tax gimmick is like paying with Beanie Babies - Susan Tompor, MSN News:

December 24, 2018 - "Car dealer Bernie Moreno took a small step outside of the tax payment comfort zone.... Moreno, 51, converted U.S. dollars into bitcoin in late November and paid off some taxes relating to car leases to the state of Ohio — gaining the Facebook bragging rights that he was the first ever to use bitcoin to pay some type of state taxes in the country.

"'Digital currency and blockchain are really the next tech revolution,' said Moreno, president of The Bernie Moreno Cos auto dealership in Olmstead, Ohio.

"Ohio is the first state in the United States to accept cryptocurrency. The state allows payment of 23 different business taxes via the portal, including the state sales tax, cigarette taxes, the public utilities tax, withholding tax and assorted other taxes.

"'From mom and pop coffee shops to Fortune 100 companies, businesses now have the ability to pay their taxes with OhioCrypto.com,' the Ohio Treasurer's website says.

"For security purposes, a business must have a profile on file with the state Treasurer’s office... There's an initial three-month window where no fees will be charged. After the introductory period, the transaction fee will be 1 percent. The added cost would be lower than charges for using a credit card, the state said....

"Ohio's state treasurer Josh Mandel told CNBC that the Buckeye State is looking to attract blockchain start-ups with its new acceptance of bitcoin for taxes. Blockchain has the potential to revolutionize the financial services industry by making payments faster, more secure, and less expensive on a global scale, according to industry backers....

"In May, General Motors and Ford joined BMW and Renault and other firms to create the Mobility Open Blockchain Initiative to explore how manufacturers could tap into this new technology."

Read more: https://www.msn.com/en-us/news/other/why-ohio-bitcoin-tax-gimmick-is-like-paying-with-beanie-babies/ar-BBRnE2z
'via Blog this'

Why libertarians like Bitcoin

The Libertarian Case for Bitcoin | Hacked: Hacking Finance - William Bartlett:

August 23, 2018 - "From the outside looking in, Bitcoin seems to have a cult-like following.... However, as you get to understand crypto a little better, it becomes clear that there are many different factions.... There are the technologists who think technology is king, [the] contrarians who believe that the US dollar and all fiat currencies are overvalued, and then there are the libertarians who want to have as much freedom from the government as possible.

 "At its core, libertarianism is a political philosophy that gives individuals rights to acquire, keep, and exchange their holdings. It is a very 'American' point-of-view, and has gained a lot of support in recent times, due to the rising fiscal deficit, among other things.... To libertarians, the ideal is to have minimum intervention from the state.

"This also involves locking middlemen and intermediaries out of the equation. Oligopolies such as the one the big banks currently hold end up giving them a 'government-level' of control over the funds of customers. Bitcoin disintermediates these banks and creates a natural market for all who wish to do commerce online.

"An auxiliary point would be the somewhat excessive intervention in the money markets by the Fed. Denationalization of currency is a position most libertarians take as another way of protecting their money from purposeful inflation.

"What is especially beautiful about Bitcoin is the fact that it is censorship resistant. Not only is there economic freedom, but also the ability to fund whatever you would like, but without worrying about being stopped. This is true 'freedom of expression' (another libertarian ideal). Obviously there are cases where this goes too far (e.g. terrorism) and this is where the debate about Bitcoin’s place in society heats up.

"Bitcoin also goes in direct conflict with the government’s desire to track the flow of money for taxation and regulatory purposes. It is very difficult for governments to track the flow of Bitcoin funds, and even though it’s possible to match up public addresses, anonymity is generally ensured. And for those looking for a more robust solution, other privacy coins like zCash and Monero have popped up.

"Aside from Bitcoin, you have numerous new 'markets' popping up where there used to be inefficient markets with minimal innovation. Utility coins are putting a value on what used to be deadweight loss in the markets. This connects to Bitcoin with the idea of 'economic liberty', where they have property rights and fully privatized free markets."

Read more: https://hacked.com/the-libertarian-case-for-bitcoin/
'via Blog this'

Bitcoin catching on at retail in Keene NH

Keene Dentist, Vape Shop, Indian Restaurant, & Hair Salon Now Accepting Bitcoin & DASH! | Free Keene - Ian Freeman:

July 27, 2018 - "Keene and Portsmouth New Hampshire are two hotspots in the world of cryptocurrency. The Western and Easternmost cities in New Hampshire are living proof that cryptocurrency like Bitcoin or DASH can be used successfully at retail, with multiple downtown local mom-n-pop businesses accepting crypto at point-of-sale.

"Keene’s newest vape shop, Lineage Vapors recently opened in the Center at Keene on Gilbo Ave and is accepting both Bitcoin (BTC) and DASH.... That makes Lineage Vapors the third business in the Center at Keene that accepts crypto. Little Zoe’s Pizza was first and was recently joined by Curry Indian Restaurant who serves excellent Indian and Pakistani cuisine seven-days-a-week for both Bitcoin (BTC) and DASH. Not only is the food great, it’s also nice to know that cryptocurrency ... can also easily be sent internationally if needed, for next to no cost. This can surely help families like the Alis who run Curry Indian [to] send money to relatives worldwide, bypassing the expensive, slow, old money methods of remittances like Western Union and the big banks....

"[A]dd dentistry to the list with Dr. Drower Dentistry receiving coverage in the Keene Sentinel for accepting cryptocurrency. In his press release announcing the welcoming of cryptocurrency-paying patients, Dr. Sean P. Drower said, 'For digital coin to become useful in everyday life people need to be able to use it as currency, for something besides speculative investing'.... Dr. Drower Dentistry, Curry Indian, and Lineage Vapors are all part of the DASH-Back program active now in Keene, where customers get an instant rebate in DASH whenever they spend DASH in Keene and at other New Hampshire merchants. DASH-Back is really cool and only happening in New Hampshire, thanks to Portsmouth-founded Anypay.global, the merchant point-of-sale crypto processor.

"Also joining DASH-Back in Keene is longtime crypto-friendly Main St. hair salon, Moda Suo. Proprietor Nicholas Sansone was one of the original Bitcoin-accepting downtown businesses, however ... this week Moda Suo upgraded to the Anypay Point-of-Sale system, enabling DASH-Back for any customers who pay with DASH....

"[T]here’s a business-to-business crypto economy already developing. Business owners who are accepting crypto are finding ways to spend it with other crypto-accepting Monadnock businesses.... Multiple local businesses have purchased advertising in the Monadnock Portal Map with cryptocurrency. Even radio ads are now available for crypto in Keene thanks to the sales manager at classic rocker 101.9 The Peak and sports radio 93.5 WEEY."

"According to Coinmap.org, Keene already handily beats major cities like San Francisco and New York when ranked per capita for crypto-accepting merchants. It’s only going to get better as more liberty-friendly cryptocurrency advocates move to New Hampshire as part of the NH freedom migration and add their economic strength to the area!"

Read more: https://freekeene.com/2018/07/27/keene-dentist-vape-shop-indian-restaurant-hair-salon-now-accepting-bitcoin-dash/
'via Blog this'

Austin Petersen loses Missouri Senate primary

Bitcoin-Friendly U.S. Senate Candidate Austin Petersen Loses Republican Primary -
CCN:

August 8, 2018 - "Pro-bitcoin U.S. Senate candidate Austin Petersen has lost his Republican primary bid to challenge incumbent Missouri Sen. Claire McCaskill in the upcoming mid-term election.

"Petersen, who accepted the largest single bitcoin donation in federal election history and was also forced to return several six-figure cryptocurrency contributions due to campaign finance regulations, was soundly defeated by Attorney General Josh Hawley, who received 58.6 percent of the 663,553 votes...

"Despite garnering endorsements from several state-level Missouri politicians, Petersen finished a distant third, receiving 8.2 percent of the vote and coming in just behind Tony Monetti, who had been endorsed by former Alaska Gov. Sarah Palin.

"Petersen’s candidacy was always a longshot, and the Republican National Committee (RNC) had already begun campaigning for Hawley long before last night’s primary. Hawley had also won endorsements from major local newspapers, including the Kansas City Star, who said that many of Peterson’s ideas are “best left to theoretical discussions in academia, or ignored altogether'....

"For cryptocurrency supporters, Petersen’s candidacy marked an opportunity to add another pro-bitcoin voice to Congress.... As CCN reported, some legislators — such as Congressional Blockchain Caucus members Rep. Jared Polis (D-CO) and Rep. Bob Goodlatte (R-VA) — have embraced the burgeoning field, while others, perhaps most notably Rep. Brad Sherman (D-CA), have called for the government to pursue an outright ban on cryptocurrency.

"Previously, Petersen ran for president as a Libertarian Party candidate during the 2016 presidential election, finishing second ... to former New Mexico Gov. Gary Johnson, who ultimately received 3.28 percent of the popular vote."

Read more: https://www.ccn.com/bitcoin-friendly-u-s-senate-candidate-austin-petersen-loses-republican-primary/
'via Blog this'

WI Libertarian told not to accept Bitcoin donations

Libertarian candidate accepts Bitcoin donations that could be illegal - Max Bayer, Milwaukee Journal Sentinel:

July 23, 2018 - "The Libertarian candidate for governor says he will accept campaign donations in Bitcoin, despite a state Ethics Commission finding that such donations appear to be illegal.

 "'We will not allow the lack of appropriate interpretation of the current statute (to) affect the First Amendment rights of those who want to show support and contribute,' said a statement from Phil Anderson, who is running for governor and is the chairman of the state Libertarian Party. 'I have no faith in the Assembly to handle this fairly nor expeditiously.'

"Anderson asked the Ethics Commission to allow candidates to accept Bitcoin and other forms of cryptocurrency. In May, the commission referred the matter to the Legislature because it found a contribution in cryptocurrency 'does not appear to fit' the acceptable categories spelled out in statutes ... [and] suggested the Legislature address two facets of cryptocurrency: its constantly changing value and the anonymity of donations....

"Cryptocurrencies, such as Bitcoin and Etherium, are internet-based currencies that can be used to buy goods or services. They were founded on the principle that currencies should be decentralized.

"Anderson emphasized that he believes he and his party are complying with the law.... If a complaint is filed against him and the Ethics Commission intervenes, Anderson said he and the party are 'going to push back all the way'....

"Anderson said there shouldn't be any concern regarding donations to his campaign. His portal uses Bitpay and requests donors' names, addresses and phone numbers."

Read more: https://www.jsonline.com/story/news/politics/2018/07/23/libertarian-candidate-accept-bitcoin-donations-despite-warning-ethics-commission/807234002/
'via Blog this'

Bitcoin and climate change (I)

Devourer of Worlds: Bitcoin’s energy use got studied, and you libertarian nerds look even worse than usual | Grist - Eric Holthaus:

May 17, 2018 - "Bitcoin’s energy footprint has more than doubled since ... six months ago. It’s expected to double again by the end of the year, according to a new peer-reviewed study out Wednesday. And if that happens, bitcoin would be gobbling up 0.5 percent of the world’s electricity, about as much as the Netherlands.

"That’s a troubling trajectory, especially for a world that should be working overtime to root out energy waste and fight climate change. By late next year, bitcoin could be consuming more electricity than all the world’s solar panels currently produce — about 1.8 percent of global electricity, according to a simple extrapolation of the study’s predictions. That would effectively erase decades of progress on renewable energy....

"Beyond its tentative success ... bitcoin has an increasingly real-world cost. The process of 'mining' for coins requires a globally distributed computer network racing to solve math problems — and also helps keep any individual transaction confidential and tamper-proof. That, in turn, requires an ever-escalating arms race of computing power — and electricity use — which, at the moment, has no end in sight. A single bitcoin transaction is so energy intensive that it could power the average U.S. household for a month.

"A fluctuating bitcoin price, along with increases in computer efficiency, has slowed the cryptocurrency’s energy footprint growth rate to 'just' 20 percent per month so far in this year. If that keeps up, bitcoin would consume all the world’s electricity by January 2021.

"That simply won’t happen — government regulators would surely come to their senses by then — but it is a sign of bitcoin’s disastrous growth rate....

"It’s a telling social phenomenon of late capitalism that we are willing to construct elaborate computer networks to conduct secure transactions with each other — and in the process torpedoing our hopes at a clean energy future."

Read more: https://grist.org/article/bitcoins-energy-use-got-studied-and-you-libertarian-nerds-look-even-worse-than-usual/
'via Blog this'

Also read: Bitcoin and climate change (II)

Bitcoin and climate change (II)

No, Bitcoin Won't Boil the Oceans - Bloomberg - Elaine Ou:
Concerns about the cryptocurrency's energy use are overblown.

December 7, 2017 - "While much of the world marvels at bitcoin’s meteoric rise, another part is focused on an environmental byproduct: The sheer amount of electricity that crypto-currencies use. By some estimates, bitcoin’s consumption alone exceeds -- or will exceed -- that of Ireland, Denmark, Japan or even the entire world....

"Digital currency is wasteful by design. Bitcoin 'miners,' who process transactions in return for new currency, must race to solve extremely difficult cryptographic puzzles. This computational burden helps keep the transaction record secure -- by raising the bar for anyone who would want to tamper with it –- but also requires miners to build giant farms of servers that consume vast amounts of energy. The more valuable bitcoin becomes, the more miners are willing to spend on equipment and electricity.

"Still, it’s important to put things in perspective. A recent report suggests that at current prices, Bitcoin miners will consume an estimated 8.27 terawatt-hours per year. That might sound like a lot, but it’s actually less than an eighth of what U.S. data centers use.... It also compares favorably to the currencies and commodities that bitcoin could help replace: Global production of cash and coins consumes an estimated 11 terawatt-hours per year, while gold mining burns the equivalent of 132 terawatt-hours. And that doesn’t include armored trucks, bank vaults, security systems and such....

"What’s more, bitcoin’s consumption won’t necessarily keep rising as it has. Data centers, for example, have gotten a lot better. Not long ago, the Department of Energy was predicting that their electricity use would double every five years.... In recent years, though, the centers’ total electricity use has flattened even as their number has kept growing ... better cooling and power management technology improved efficiency. Bitcoin miners are no less motivated by profit, so it stands to reason that they will seek to become more efficient....

"It’s easy to criticize bitcoin for being wasteful. But so are many things in life, including airplanes, commuting to work and Sunday Night Football. A return to subsistence farming could drastically reduce our carbon footprint, but sometimes using energy to improve our quality of life is worthwhile....

"How much is sound money worth? How about the ability to send money freely across borders?... Or to own an asset that can’t be seized? People in the U.S. and other developed countries might take these things for granted, but people in places like Zimbabwe and Venezuela are turning to bitcoin for survival. So perhaps all those computations aren’t wasteful: Maybe the miners are simply transforming the energy into something more valuable."

Read more: https://www.bloomberg.com/view/articles/2017-12-07/bitcoin-is-greener-than-its-critics-think
'via Blog this'

Also read: Bitcoin and climate change (I)