CEO of Overstock thinks the Govt Should do this for Bitcoin
CEO of Overstock, Patrick Byrne, talks with me at Porcfest about the financial system, and what he believes should be the government's role in bitcoin.
Super thrilled that my video was picked up by Forbes, The Independent, ZeroHedge and over a dozen other outlets!
Patrick Byrne is deluding himself if he thinks that Kim Jong Un can't move all the money he wants to. KYC only hurts the innocent and grants increased powers of control which causes the people to become transparent and the government to become opaque. It should be the reverse. China's social credit scoring system is the ultimate result of KYC expanded to every aspect of life. You can't give that power to anybody or it will be abused.
Anonymous transactions will not cause the world to end. It will cause the evil of KYC to end which will create a loss of centralized power, reducing the ability of governments to become powerful enough to become world ending forces. The distribution of wealth and resources will result. This is because privacy increases agnoia which prevents power from aggregating. Decentralization increases freedom and freedom causes everyone to do their own thing. When people are forced into large cooperation factories which produce labor that creates nukes, that's the worst terrorism possible. A world ending event can then happen over the miscalculation or mishandling of the nuclear codes.
Ask yourself this, if everyone was free to do what they want, who would choose to build a military? Only the psychopaths. Who would follow? Freedom causes psychopaths to become isolated, lonely, troubled souls who are then forced to confront their issues because few will listen to them without the threat of force. We can't expect these psychopaths to completely disappear, but we can at least reduce the size of their governments and force them to fight with something closer to sticks and stones, instead of nukes.