Some cryptocurrency results of the year: how financial authorities lose control

In the American political tradition, folk love of a miracle is realized in such an amazing phenomenon as Midnight Rulemaking, midnight legislation. This is when, at the last moment, on the eve of a significant event (holiday, leaving on the holidays, resignations), such laws are pulled with quiet sapa and do such things that, in normal circumstances, it is impossible to create or create.

All American politicians pay tribute to this tradition: deputies, senators, and owners of the White House. For the latter, the right to create legislative lawlessness is even fixed officially: in the last hours of stay in the office you can have mercy on any most odious criminal and villain.

Lawyers were less fortunate than the presidents, so they have to carefully camouflage their intentions. Say, on September 30, 2006, shortly before midnight, in the House of Representatives, they dragged the “Safe Port Act” law, which on 244 pages described in detail the measures to combat world terrorism in terms of inspection of marine containers for the maintenance of radioactive materials, chemical and biological weapons, etc.

And inside this wonderful legislative act, the eighth section was hidden, which has the slightest attitude to national security, or to radiation, or to port services. The section is called “forced measures to combat the Internet gambling” and is devoted to this particular-the ban on websites related to gambling.

Today I want to tell readers about two events related to the political and legislative creativity of the outgoing administration of Donald Trump. These events are remarkably fit into the tradition of Midnight Rulemaking, however, we will try not to evaluate them in terms of moral condemnation (everything is already clear with this for a long time), but in the aspect of their influence on the public phenomenon itself, which these events affect.

Demarch No. 1: Crypt on the table

On December 18, 2020, from the subsoil of the US Department of Treasury and the FINCEN Crime Crime Crime Networks, a document was unexpectedly exposed and put up for a public display, which is called “Requirements for certain transactions that are convertible digital currencies or digital assets” Involing Convertible Virtual Currency Or Digital Assets).

Now they are trying to drag the bill according to the accelerated procedure: 15 days of public discussion (instead of 60) followed by approval in Congress and Senate.

Obviously, everything is done in order to be in time before the Bayden administration arrives, which, according to many circumstances of the transformation of this heresy, will never allow the law.

The essence of the “requirements for certain transactions”: to introduce the KYC/Aml identification procedure (the rule of “know your client” and the fight against the legalization of income) for the so -called Self-Hosted Crypto Wallets, individual cryptocurrencies. In addition, American legal entities will be required to keep records and conduct the same identification for all transactions exceeding 3 thousand dollars, as well as report to the Department of Treasury for Transactions over 10 thousand dollars.

Everyone who is familiar with American banking legislation will immediately notice that all these measures are identical to what has long been applied to traditional financial institutions.

What can I not like here? Only one thing: absolute misunderstanding by officials of the phenomena that they are trying to regulate! The idea of ​​regulating individual cryptocurns can come to mind only to such a person who does not understand anything in the issue at all.

It is obvious that Trump’s financial officials are sincerely convinced that “individual crypto-coshery” is a kind of bank account that can be taken into account and controlled. But this is nonsense. There are no cryptocurns in nature, but there are private keys that control access to addresses in a particular cryptocurrency network. Any person at any second can generate hundreds of thousands and millions of new crypto -adajes and keys, new, absolutely anonymous, not subject to calculation.

There can also be no limits on the translation. Any transaction can be crushed to a million microdits and sent them to millions of previously not recorded addresses. Who will track it all? Coordinate? Control?

It is obvious that the legislative demarch No. 1 of the outgoing administration will have only one consequence: the exclusion of the United States from among the few or less significant players of the world cryptoeconomics. That is, an attempt to control the uncontrollable automatically will mean the incorrect harmful harm to the economy of the native state. This is to the issue of economic sabotage and responsibility of officials for those.

Demarch No. 2: Amnesty for Silk Road

At the same time, several official sources confirmed that Donald Trump seriously considers the possibility of representing an amnesty to Ross Ulbrecht, known in the world under the nickname “The Terrible Pirate Roberts”. Ulbricht created the world's first mass platform for the exchange of goods using bitcoins - Silk Road, for which he received a life period without the right to early release.

Donald Trump repeatedly publicly showed personal sympathy for the “poor boy”, and now they are trying to bring lobbying to the amnesty of Ulbrecht as an act of higher humanism, and Ulbrecht himself is compared with Edward Snowden, Julian Assange and Chelsea Maninning (the latter, or rather, the latter, amnesty before the care of the office Barack Obama).

It may seem that demarch No. 1 and demarche No. 2 are not combined with each other. On the one hand, the Trump administration is trying to drag legislative acts that destroy the hopes of the United States to maintain authority in the field of cryptoeconomics. On the other hand, the president plans to amnesty the "main martyr" of the cryptoeconomic, who suffered from state repressions. So? Of course, not so!

In fact, Ross Ulbrecht received not a life sentence, but two life -long periods plus another 40 years. And all this is by no means (and not so much!) For trading in narcotic substances, weapons and child pornography, but for much more serious crimes. Moreover, during the investigation, the conditions were repeatedly created by which Ulbrecht could only get off five years of prison for all this trade bitcoin activity around Silk Road.

The problem is that Ulbrecht is a disgusting killer. The court examined and appreciated irrefutable evidence of how Ulbrecht agreed with the hired killers on the “liquidation” of several competitors who prevented the development of his “business”. Ulbrecht even managed to order (by stupidity) to order an employee of the drug control department (DEA) to eliminate another employee of this department.

In other words,

Ross Ulbrecht is an odious figure, the contribution of which is difficult to overestimate to the discrediting of cryptoeconomics. Moreover, it is criminal to compare this bastard with Julian Assange and Edward Snowden.

However, it is Ulbrecht who plans to amnesty Donald Trump for goodbye.

In my opinion, demarche No. 1 and demarche No. 2 are not only contradicting, but also amazingly complement each other, as they reveal the true attitude of the American conservative business to their main historical competitor.

In conclusion, I want to supplement the picture of the third “Christmas carol”, which will allow the reader to look at the same topic, but only on the other side of the barricades.

Demarch No. 3: Porn without credit cards

There is such a portal on the Internet, called Pornhub. Belongs to the company from Luxembourg Mindgeek (along with Redtube and YouPorn). The journalists of The Financial Times recently even calculated the physical beneficiary of this business project-German entrepreneur Bernard Bergemar.

So, the last two years, Pornhub fought stubbornly with traditional financial operators, who, under many cunning prepositions, prevented the acceptance of money for a premium subscription. In 2019, PayPal refused to cooperate with Pornhub. And the other day - and MasterCard with Visa.

It ended that Pornhub lost patience and made an official decision on a complete refusal to accept real money as a payment for the premium account. From now on, Pornhub will only work with cryptocurrencies, and it is going to accept all the main ones (and not just bitcoin and ether).

What is the meaning of this event? The fact that Pornhub is the 10th of the most visited portal in the world (8th-xvideos.com, 9th-XNXX.com: both of the same themes). I specifically focus readers on this statistics (from honest Similarweb), because from official sources (like the Amazon Alexa or Wikipedia), it is cleverly exhausted.

In a modern political correct society, one cannot say that the three largest in the world of the Internet portal of 10 are dedicated to pornography and the eyes of all mankind are directed there.

Pornhub visit over 115 million people daily. They load, again, 15 terabytes of content daily. They regularly pay for the premium subscription. Until recently, they did this with the help of their bank cards. From the future they will pay cryptocurrency.

Question to backfill: how is the demarch No. 1 and demarch No. 2 will affect the mass adaptation of cryptoeconomics in the context of demarche No. 3? It seems to me that the question is rhetorical?

I propose the moral of Christmas carols in the form of wishes for 2021 to politicians (Russian, American, and European Union, and everyone else): if you want to somehow maintain control over the financial life of your citizens, finally go to Earth! Stop destroying traditional monetary relations with your ignorant laws, which do not regulate anything, especially - have the slightest chance to restrain the technological revolution.

Finally, study the fact that you are so persistently and pointlessly trying to put control, and then inflate bridges, yet it is not too late. Otherwise, next year, the whole world will have to live in two rejection realities.