No More Bitcoin

No More Bitcoin

what’s up Sons it’s blind rod with son
of ACH once again and today I have a
little bit of news for you it’s been
pretty fud worthy as of late in Western
countries with a pretty obvious
concerted effort to Target
cryptocurrency and cryptocurrency Mining
and that is starting off with Biden’s
Bitcoin banter 30% tax proposal now he
did also propose a 47% capital gains tax
proposal and a 25% unliquidated capital
gains tax which is insane but this one
is surrounding Bitcoin tax Joe Biden has
proposed a 30% tax on Bitcoin mining in
the United States sparking debate among
the crypto Community the US Senate has
also proposed a 1% wealth tax on bitcoin
and cryptocurrency holdings exceeding
$500,000 crypto enthusiasts and
stakeholders are concerned about the
potential impact on the industry urging
the administration to reconsider the
proposals have raised questions about
the future of Bitcoin mining in the US
with some fearing a shift in the
industry’s landscape the debate
continues as stakeholders navigate the
implications of these potential
regulatory changes if something like
this happened I would think that anybody
that is rich in crypto would get the
heck out of the United States which
obviously is not good for the United
States economy at least that’s my
thoughts and opinions on it initially
let me know down in the comment section
below a 30% tax proposal on the actual
mining process would mean that we would
lose a lot of Bitcoin mining industry in
the United States as well and I really
honestly do believe based on the book
softw War that is important to have a
lot of Bitcoin miners within your
economy this isn’t just affecting the
United States as we do have some reports
of crypto miners facing energy refusals
in Canad Ian provinces Manitoba is
extending a moratorium on new power
connections and British Columbia is
introducing legislation that could
prohibit the provision of power to new
miners we’re basically
experiencing a an attack on
cryptocurrency mining I think due to the
fact that it does basically enable non-
kyc exchange of the cryptocurrency the
Canadian province of man Manitoba has
extended a moratorium on new requests to
the government-owned manit toia hydro
Agency for electrical service for
cryptocurrency operations British
Columbia had a similar suspension of
service in place and has chosen a
different but also restrictive path
forward the Manitoba pause extension
applies to crypto miners new requests
and requests for electrical service
which have not resulted in the execution
of an agreement to construct
infrastructure in November of 2022 the
provincial government paused electrical
connections to crypto mining operations
for 18 months now the pause will last
through April 30th
2026 at this time or at that time the
province plans to prepare a long-term
solution it said in announcement adding
quote Hydro Manitoba Hydro continues to
expect unprecedented demands for
electricity from new or expanding
cryptocurrency operations that demand
has the potential to drastically
increase our total electrical load in
2022 then CEO of Manitoba Hydro J GRL
said quote if we connected every
cryptocurrency operator who shown
interest in the last 16 months we’d
increase our total electricity load by
4600 megaw the organization’s total
capacity at that time was 6,100 megaw
Hydro Quebec proposed reducing
electricity provision to crypto
operations temporarily in November of
2022 New Brunswick banned the provision
of electricity to new crypto operation
in November of 2023 in December of 2022
British Columbia announced it would stop
making connections to new crypto miners
for 18 months that decision impacted 21
projects on April 11th the BC government
said it had introduced amendments to its
utilities commissions act to regulate
electricity service to cryptocurrency
miners provincial energy Minister uh
Josie Osborne said quote we’re working
with BC Hydro to ensure we have the
electricity we need and that includes
regulating electricity service for
energy intensive cryptocurrency miners
that create very few local jobs the new
amendments would make it possible for
the BC government to prohibit restrict
or regulate service to crypto miners BC
has had or has some of the lowest
commercial and Industrial electricity
rates in North America now of course my
question to them right after this is
well are you also regulating AI data
centers because they have a similar load
or employee count and both right so if
you’re going to regulate against
cryptocurrency miners you have to
regulate against Data Center and Ai and
that is just the end of story this isn’t
about energy consumption as a whole
being just on cryptocurrency it has to
do with at least in my humble opinion
specifically shutting down
cryptocurrency from the very top should
electricity be you know decided upon the
way use it that is my question to you
guys should they be able to tell you
what you can and can’t do with your
electricity or not and it’s pretty clear
that they want to get people off of
utilizing their own wallets there was a
public service announcement from the FBI
in the United States and they warn
Americans against using cryptocurrency
money transmitting services that are not
registered as Money Services businesses
according to United States federal law
and do not adhere to anti-money money
laundering requirements a few simple
steps can prevent unintentional use of
non-compliance services for example
avoid cryptocurrency money transmitting
services that do not collect know your
customer information from customers when
required of course this goes against
everything that Bitcoin stands for from
the very get-go of the white paper back
in 2008 where we are supposed to be able
to transact peer-to-peer without the
interference of governments or Banks and
this is saying basically the opposite of
that that you should not participate
within cryptocurrency unless the bank or
institution requires your personal
information which is just a huge red
flag from the very get-go in fact you
can basically take this entire public
service announcement from the FBI and
consider it uh a list of things to not
do other than maybe a couple right so
avoid using services that advertise
themselves for legal purposes from a
moral and ethical standpoint I
understand that but for things like be
ious when using cryptocurrency Services
known to be used by criminals to launder
their funds well that could be the
entire network hell that could be the
entire Fiat system from the very get-go
anyways if you want to check out more
you can check out more at
www.ic3.gov and I’d like to hear your
thoughts and opinions on it in the
comment section below finally as the
United States and Canada try to
basically bring down the iron hammer or
fist on top of cryptocurrency bricks is
replacing the US dollar with
cryptocurrency for trade so this is a
danger I think according to of course
after reading the soft war and all of
that this is a danger to the economies
of the West because they are doing the
exact exact opposite of this and if
economic trade flows into cryptocurrency
while everybody is banned in the west
from using it you will have basically
hyperinflation of the western currencies
and basically it’s going to be bad it’s
just going to bead according to a recent
statement from the chairman of the
Russia Russian State committee on the
financial Market the bricks block is
working to replace the US dollar with
cryptocurrency for trade axo aov or
axo I don’t know how to pronounce this
one discuss the alliance’s work to
utilize digital Assets in place of fiat
currency for international transactions
the economic Alliance has long embraced
its dollarization initiative Ives along
with the promotion of its local
currencies subsequently the development
of digital currency Solutions has been a
priority since the arrival of its brics
pay system now those efforts are set to
carry the belock toward a dollar future
throughout the last year the brics block
has embraced its opportunity to create a
multi-polar world its five Nation
expansion effort enacted as at its 2023
annual Summit was one of the key pillars
of that we did cover that when it
happened however so to is its commitment
to further Embrace of local currencies
in util lateral trade dealings now the
alliance is taking a clear step forward
in that regard as brics block is seeking
to replace the US dollar with
cryptocurrency for international trade
indeed Russia stated that the block
represents a serious channel to replace
Fiat currencies in international
transactions what makes the prospect of
this all that more interesting for the
collective is that they appear committed
to developing their own Central Bank
digital currency for which the two
substitute with Fiat now this is even
scarier than just adopting Bitcoin or
something along those lines because a
cbdc will tighten the control of the
individuals that live within those those
areas and I think that that is scarier
to me than even what the US is doing
which is Banning of course the us or the
Bitcoin mining or making it difficult to
mine Bitcoin and that sort of thing I I
think that the cbdcs are even scarier so
the question is is why is Russia
building up a bunch of Bitcoin mining
facilities of course I’m sure the
government has a bunch of control over
that in general altogether these
projects should provide a clear
opportunity for the brics block to
continue to dollarize moreover Russia
Deputy foreign minister Ser Sergey rakov
has recently discussed the development
of new platforms for Financial dealings
specifically these would support the
presence of increased digital assets as
opposed to Fiat offerings riov discussed
the option of creating a platform that
would unite the financial systems of the
brics members what he called a brics
bridge would require stable coins or
other digitized currency forms this
would in integrate a clear way for the
10 brics countries to dollarize however
it would also increase concern with the
US dollar being absent from any
International dealings with the alliance
members and Nations seeking to embrace
such unilateral trade this has been a
problem for the Western economies I
think for quite some time we’ve been
talking about it bricks as a whole for
quite some time and it definitely is
concerning as we’ve seen a move away
from the dollar over time and that is
you know compounded by the fact that we
are seeing you know exchange for oil in
Saudi Arabia for the the Chinese
currency the WAN over there as well as
direct trade in the Russian currency the
roule and so or the rubles there we go
so I think really if we’re looking at
this this is less of a testament to
maybe the us falling behind on
cryptocurrency in general and more a
warning of the possibility for the US
dollar being worth less as it’s used
less right so every every currency is
basically has value based upon how much
it’s used it’s not even based on like
anything like gold or anything since we
went off the gold standard right it’s
basically if you’re being forced to buy
oil or Energy Products with a certain
currency it’s naturally going to drive
the demand for that currency up which is
why the demand for the dollar has been
held so high for so long of course the
US dollar is still backed by the US
military which will hold its value a
little bit better for maybe a little bit
longer but it’s just kind of a slow burn
of frogs in a pot as far as the value of
the US dollar goes compounding that fact
with the the inflation rates of the
United States and the overprinting of
the US dollar it just compounds into
basically a pretty interesting thing to
pay attention to and seeing the US is
now trying to dissuade people from
investing within cryptocurrency it’s
pretty clear they need more people using
the US dollar let me know what you think
in the comment section below and I will
see you next Tuesday

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