No privacy. No property. No prosperity. If you follow the news, you’ve seen the trend — putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing individual financial privacy and “private” cryptocurrencies and protocols. You’ve likely experienced the dystopian push in your own life, as banks and financial institutions demand more and more sensitive, personal information, and freeze your hard-earned money while telling you to prove you are not a criminal or terrorist before you may access it.
World Economic Frustration
What is a “canary in a coal mine”? The Free Dictionary defines it as “Something or someone who … acts as an indicator and early warning of possible adverse conditions or danger.” The saying hearkens back to the “practice of taking caged canaries into coal mines. The birds would die if methane gas became present and thereby alert miners to the danger.”
With the recent Office of Foreign Asset Control (OFAC) ban on crypto mixing platform Tornado Cash, some in the cryptocurrency space have been accurately describing a specter of a dark world that is to come, and that is already massively here. That is, if individuals globally do not start to speak out and stand up now against economic tyranny.
One ethereum advocate has observed:
Today the U.S. sanctioned Ethereum addresses associated [with] a privacy service called Tornado cash. Circle immediately froze the USDC in those accounts. Github suspended contributors to Tornado. If you were waiting for the opening shot of big brother’s assault on crypto this was it.
There was also a related arrest. And now questions as to the nature of code and free speech emerge once again.
Arguably there have been many such proverbial canaries since bitcoin’s inception in 2009. Indeed, from the beginning of the unfortunate merger of money and the state, they haven’t stopped. The divorce of dollars from gold, the rise of quantitative easing, and absurd and misleading claims about “zero percent” inflation in times of rampant inflation. From the start, the innovation called Bitcoin was a means by which these toxic-gas-filled coal mines called states and financial institutions could be bypassed. There have been many canaries, but it’s also arguable…
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