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News on Crypto Street
I came across some interesting news about Democratic presidential hopeful Robert F. Kennedy Jr. during his speech at the 2023 Bitcoin Conference in Miami, Florida. He made a strong case for defending Bitcoin against what he referred to as "invasive surveillance."
Kennedy highlighted the concerning expansion of technology that allows governments and corporations to exert control over our lives. He expressed his belief that distant and impersonal entities, along with authoritarian technologies, have encroached upon areas that were once private or community-held.
One specific incident that influenced Kennedy's stance was the trucker protest in Ottawa, Canada, last year. He witnessed the Canadian government using surveillance and data tracking systems to block protesting truckers from accessing their bank accounts, aiming to quell the demonstration. This event made him realize the significance of free money in maintaining freedom, much like the importance of free expression.
During his keynote address, Kennedy also criticized President Joe Biden's proposed 30% tax on energy use for Bitcoin miners. He argued that such a tax would require intrusive surveillance measures to monitor miners' energy consumption. The tax proposal was part of the White House's 2024 budget, as they claimed crypto mining consumed significant energy resources
Kennedy emphasized that this tax would set a troubling precedent, with the government monitoring all activities that require electricity. He vowed to support people's right to refuse smart meters in their homes and protect their privacy.
In addition to his concerns about surveillance and taxation, Kennedy expressed his commitment to safeguarding the right to hold and use Bitcoin. He opposed the idea of a U.S. central bank digital currency (CBDC) and criticized what he called a "war on crypto" waged by the U.S. government.
As president, Kennedy pledged to ensure the inviolability of individuals' right to hold and use Bitcoin. He also assured the audience that he would defend the right to run private nodes, arguing that Know Your Customer (KYC) requirements should apply to banks and exchanges, not to nodes. Kennedy firmly believes that the government should not demand access to individuals' Bitcoin keys or passwords, as that would surrender crucial ground to the surveillance state.
Kennedy concluded by highlighting the importance of decentralization, not just for Bitcoin but also for democracy. He emphasized that anyone should be able to run a node and stressed the significance of decentralization as a fundamental aspect of Bitcoin and democratic systems.
It's intriguing to see a presidential candidate like Kennedy advocating for the protection of Bitcoin and privacy rights in the digital currency space. His statements reflect his commitment to defending individual freedoms and resisting excessive surveillance.
What are your thoughts on Kennedy's stance? Do you think it's important for presidential candidates to address issues related to cryptocurrencies and privacy in today's digital age?
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