May 30, 2024

Taylor Daily Press

Complete News World Owner Warning: America Wants to Outlaw Bitcoin! Owner Warning: America Wants to Outlaw Bitcoin!

Cobra, the anonymous operator of the web domain, has expressed concerns about the future actions of the US government. This has to do with the use of Bitcoin. He anticipates a potential barrier to privately managing Bitcoin, even if it is difficult to implement and enforce.

The mysterious operator of the domain has hinted that threats and sanctions lie ahead. This is to manage Bitcoin separately in the future. Cobra reports that governments around the world, including the US, may be planning a blanket ban on privately managing bitcoin. This means that people are not allowed to hold Bitcoin unless they use a safe deposit box.

Cobra shared his opinion on social media:

If you believe that no action will be taken against privately managing Bitcoin, you're not looking right.

A comparison of illegalization then and now

Kobra compared it to an incident in the 1930s. The United States later declared private ownership of gold illegal by special order. The order expressly prohibited the “storage of gold coins, gold bars, and gold certificates within the borders of the United States.” “Private ownership of gold is illegal in the United States, although it is not practical to actually hold a significant amount of wealth in gold,” he clarified.

There are others who are concerned about the possibility of the federal government interfering in this issue related to Bitcoin. Dennis Porter was one of the founders of the Satoshi Action Alliance. He leads a nationwide program to strengthen rights around Bitcoin and crypto-currencies. He insists on working at the state level and managing it himself.

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Questions about claims

Cobra and Porter openly shared similar views on the US federal government's plans to impose restrictions on mining and privately managing bitcoin. But some have criticized it. They wonder if it is worthwhile and possible to ban private management of Bitcoin as cited by Cobra.

“Protecting private property is actually one of the challenges of Bitcoin's creation” and “Good luck banning a string of 12 words” are some of the responses he received on online platforms.

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