Dear FinCen
Protecting Privacy as a Human Right
Privacy is a fundamental human right, enshrined in the Fourth Amendment. However, revelations by whistleblowers like [Edward Snowden](Edward Snowden) have shown that governments often violate this right in pursuit of national security objectives. To safeguard our privacy, we must take steps to ensure that our communications remain secure from prying eyes.
Bitcoin offers a unique solution to this problem. Its decentralized nature allows users to transact privately without relying on intermediaries like banks or payment processors. Moreover, its underlying technology(math) ensures that transaction data remains immutable and transparent, making it nearly impossible for third parties to manipulate or censor information.
Outlawing Private Bitcoin Transactions: A Slippery Slope
Some argue that allowing complete anonymity in Bitcoin transactions would facilitate criminal activity, such as drug trafficking or terrorism financing, or tax evasion. While it is true that some criminals may exploit these features, outright banning private transactions would not solve the problem. Instead, it would create a chilling effect on legitimate uses of Bitcoin, stifling innovation and undermining individual freedoms.
Moreover, attempting to regulate or control Bitcoin would likely prove futile due to its inherently decentralized nature. Even if authorities were able to trace a portion of transactions, they could never fully eliminate the possibility of anonymous transactions being conducted via alternative methods (such as offline trading, using different cryptographic protocols, or writing 12 words on a piece of paper, stuffing an envelope, and licking a stamp).
Conclusion
In conclusion, protecting privacy through the use of Bitcoin is essential for maintaining democratic values and upholding civil liberties. By embracing innovative technologies like bitcoin, we can foster greater economic freedom and empower individuals to assert their rights against overreaching governments. It is crucial that policymakers recognize the importance of preserving privacy in the digital age and refrain from implementing measures that infringe upon this fundamental human right.
Onward
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