Should a protestor anticipate the gvmnt freezing their bank account and preemptively transition to crypto? How does said protestor buy food, gas, stocks?
But the bars to invoke the law are quite high: "... the situation must be considered a threat to the security of Canada, as defined by the Canadian Security Intelligence Service Act.
This law outlines four possible scenarios:
- Espionage or sabotage
- Foreign-influenced activities
- Threats or use of acts of serious violence for political, religious or ideological objectives
- Covert, unlawful acts intended to undermine or overthrow the constitutionally established government"
If Trudeau should decide to invoke the law, this would certainly be challenged at court.
On the other hand, it's an illusion to think of crypto as being "free" money:
- to ramp on / ramp of you need bank- and creditcard-accounts: the gov could prohibit to transferring funds to and from exchanges.
- to buy and sell crypto the majority of holders use exchanges: the gov could close exchanges located within the reach of its jurisdiction and block access to foreign exchanges.
- without being able to pay with it, crypto does not really qualify as money: the gov could prohibit to making any payments in crypto.
- to verify transactions many cryptos, including bitcoin, use proof of work, which requires big data-centers with high energy use. The gov could, like China did, crack down on these data-centers within its reach and convince its allies to act accordingly.
All of these measures together would probably not kill crypto but would make it practically useless for common people.
Some crypto coins seems like a good way to transfer money "underground"
...probably not bitcoin.
When i send/receive crypto, i change fiat to crypto, send/receive the coins, and change back into fiat to buy necessities and make investments in businesses. Which coin i use and how much that coin is worth doesn't matter. What matters is transaction fees to change fiat/crypto. crypto is too volatile to hold as money.
i do not speculate on crypto coin prices because prices are propped up by Chinese stable coin Tether. Bitfinex and Tether are owned by the same parent company and they are minting unbacked USDT. (they claimed the coin is pegged to $) Now they pump crypto prices. $80 billion fraud.
So if crypto's primary use case is an intermediary to curry money to anti-government mandate protestors and unlawful activities... seems like just matter of time before the government initiates anti-crypto regulation.
Should a protestor anticipate the gvmnt freezing their bank account and preemptively transition to crypto? How does said protestor buy food, gas, stocks?
The OG freedom money is cold hard cash.
But the bars to invoke the law are quite high: "... the situation must be considered a threat to the security of Canada, as defined by the Canadian Security Intelligence Service Act.
This law outlines four possible scenarios:
- Espionage or sabotage
- Foreign-influenced activities
- Threats or use of acts of serious violence for political, religious or ideological objectives
- Covert, unlawful acts intended to undermine or overthrow the constitutionally established government"
https://www.bbc.com/news/world-us-canada-60381096
If Trudeau should decide to invoke the law, this would certainly be challenged at court.
On the other hand, it's an illusion to think of crypto as being "free" money:
- to ramp on / ramp of you need bank- and creditcard-accounts: the gov could prohibit to transferring funds to and from exchanges.
- to buy and sell crypto the majority of holders use exchanges: the gov could close exchanges located within the reach of its jurisdiction and block access to foreign exchanges.
- without being able to pay with it, crypto does not really qualify as money: the gov could prohibit to making any payments in crypto.
- to verify transactions many cryptos, including bitcoin, use proof of work, which requires big data-centers with high energy use. The gov could, like China did, crack down on these data-centers within its reach and convince its allies to act accordingly.
All of these measures together would probably not kill crypto but would make it practically useless for common people.
Some crypto coins seems like a good way to transfer money "underground"
...probably not bitcoin.
When i send/receive crypto, i change fiat to crypto, send/receive the coins, and change back into fiat to buy necessities and make investments in businesses. Which coin i use and how much that coin is worth doesn't matter. What matters is transaction fees to change fiat/crypto. crypto is too volatile to hold as money.
i do not speculate on crypto coin prices because prices are propped up by Chinese stable coin Tether. Bitfinex and Tether are owned by the same parent company and they are minting unbacked USDT. (they claimed the coin is pegged to $) Now they pump crypto prices. $80 billion fraud.
So if crypto's primary use case is an intermediary to curry money to anti-government mandate protestors and unlawful activities... seems like just matter of time before the government initiates anti-crypto regulation.