The War On Financial Privacy Is Escalating

Sign up for the newsletter here.The U.S. Treasury chose to come out of the woodwork and send a shot throughout the bow of the “crypto” market yesterday by adding the open-source personal privacy job Tornado Cash that runs on Ethereum to the list of approved entities. There is no greater threat on the planet to flexibility than the federal government and the unaccountable intelligence firms who in fact run things behind the scenes.By adding Tornado Cash to the sanctions list, the Treasury Department highlighted many drawbacks of the Ethereum ecosystem which claims to be decentralized. Coinbase along with USDC, the centralized stablecoin offered by Circle and used throughout much of the Ethereum “DeFi” area, added any address associated with the Tornado Cash agreement to a blacklist.All of this need to be expected due to the centralized nature of these services and the recklessness with which the people pushing Ethereum approach the circulation of their network.

The below is a direct excerpt of Martys Bent Issue # 1248: “The privacy wars have actually escalated.” Sign up for the newsletter here.The U.S. Treasury decided to come out of the woodwork and send a shot throughout the bow of the “crypto” market the other day by including the open-source personal privacy job Tornado Cash that works on Ethereum to the list of sanctioned entities. While doing so, the department highlighted a couple of things: The U.S. federal government is dead set on guaranteeing that U.S. people are entirely surveilled and subjugated; altcoin projects arent as decentralized as marketed; and while Bitcoin is significantly more unsusceptible to these types of attacks compared to the altcoin tasks out, there complacency isnt an alternative. There are lots of things that can be done to ensure the network is as robust as possible versus efforts by the state to curb bitcoin adoption and usage.Just days after a bill was pushed through the Senate that greenlights the hiring and arming of 87,000 tax collectors to bug middle- and lower-class Americans and shake them down for the couple of staying pennies they need to their names and less than 24 hours after the FBI robbed the house of a former president over the belief that he was housing National Archive files, the Treasury Department chose to come down with the hammer on those who are seeking to attain some sense of personal privacy while utilizing Ethereum. The series of occasions might be able to be composed off as totally detached by some, however to your Crazy Uncle Marty, this appears like a collaborated effort to try to further demoralize the masses, punish those who go versus the story and threaten the control that the ineffective class takes pleasure in, while terrifying those people who have actually decided to leave the crumbling system by using alternative systems like Bitcoin.When empires get weak, they get desperate and when they get desperate, they put their lust for control in front of any sense of logic, justice or decency. The federal government has actually completely discredited itself and needs to be diminished to the size of a mall kiosk as quickly as possible. There is no greater danger in the world to liberty than the federal government and the unaccountable intelligence companies who really run things behind the scenes.By adding Tornado Cash to the sanctions list, the Treasury Department highlighted lots of shortcomings of the Ethereum ecosystem which declares to be decentralized. Practically instantly services like Alchemy and Infura– centralized API and node infrastructure business leveraged by lots of companies and people “using” Ethereum– cut off their users from accessing the Tornado Cash contract.The facilities companies werent the only ones who bent the knee. Coinbase together with USDC, the central stablecoin used by Circle and used throughout much of the Ethereum “DeFi” area, included any address related to the Tornado Cash contract to a blacklist.All of this need to be expected due to the centralized nature of these services and the recklessness with which the individuals pressing Ethereum method the circulation of their network. Bitcoiners have been alerting for many years that the tradeoffs made by those huffing mETH would come back to bite them in the ass when the state attacks heat up like they are best now.While this kind of censorship of the centralized services like Alchemy, Infura and USDC is to be expected, it was really shocking to see that GitHub decided to totally delete the accounts of the designers who added to Tornado Cash.This proves that it is very important not to depend on central 3rd parties to collaborate the building and circulation of the open-source code your job counts on. JoinMarket and even the Bitcoin Core repositories and those who contribute to them if the Treasury Department can do this to Tornado Cash they can do it to Samourai Wallet. Alternatives to GitHub require to be utilized as quickly as humanly possible. It seems that the Samourai group has thought through this attack vector and resorted to mirroring their code on an open-source GitLab repository in case they ever fall victim to a comparable attack.via TwitterMore of this.The stakes have actually never ever been higher. The state is losing its grasp of control over individuals and it is doubling, quadrupling and tripling down on utter incompetence and nefariousness. As it continues to fail, it will continue to flail more strongly. Targeting those of us who simply wish to be left alone and attempt to attain that by accessing and making use of tools that sit beyond the states control.The war on the commoner has actually intensified considerably this week. Are you prepared to in harmony fight back by standing up, stating “enough is enough” and using the tools that will lead you to liberty? I sure hope so.

Other Questions People Ask

What are the implications of the U.S. Treasury's actions in The War On Financial Privacy Is Escalating?

The U.S. Treasury's decision to sanction Tornado Cash marks a significant escalation in the war on financial privacy, highlighting the government's intent to surveil and control citizens' financial activities. This move not only undermines the decentralized claims of the Ethereum ecosystem but also raises concerns about the future of privacy-focused projects. As centralized services like Coinbase and USDC comply with these sanctions, it becomes evident that reliance on such platforms can jeopardize user privacy and autonomy.

How does the sanctioning of Tornado Cash affect Ethereum users in The War On Financial Privacy Is Escalating?

The sanctioning of Tornado Cash has immediate repercussions for Ethereum users, as major platforms have begun blacklisting addresses associated with the privacy protocol. This action illustrates the vulnerabilities within the Ethereum ecosystem, where centralized entities can easily bow to government pressure, compromising user privacy. Users must be aware of these risks and consider alternative methods to maintain their financial privacy amidst increasing scrutiny.

What can individuals do to protect their financial privacy amid The War On Financial Privacy Is Escalating?

To safeguard financial privacy in light of escalating government actions, individuals should explore decentralized alternatives and avoid reliance on centralized platforms that may comply with government sanctions. Utilizing privacy-focused cryptocurrencies like Bitcoin, which are less susceptible to such attacks, can enhance personal security. Additionally, engaging with open-source projects that prioritize user autonomy and employing alternative code repositories can help mitigate risks associated with centralized control.

Why is the war on financial privacy intensifying according to recent events?

The war on financial privacy is intensifying as governments, particularly in the U.S., become increasingly desperate to maintain control over citizens amid declining authority. The recent sanctioning of Tornado Cash serves as a clear signal that authorities are willing to infringe on personal freedoms to enforce compliance and surveillance. This escalation reflects a broader trend where governments prioritize control over individual rights, prompting a need for proactive measures from those seeking financial independence.