[New post] Infrastructure Also Means “Sweeping Surveillance Of Crypto Holders”
User ID posted: " https://www.youtube.com/watch?v=ETbVuoPnbvk Infrastructure Also Means "Sweeping Surveillance Of Crypto Holders" by Silver Report Uncut a 2,000+ page bill designed to update the United States' roads, highways, and digital infrastructure—contains a poo"
a 2,000+ page bill designed to update the United States' roads, highways, and digital infrastructure—contains a poorly crafted provision that could create new surveillance requirements for many within the blockchain ecosystem. This could include developers and others who do not control digital assets on behalf of users. While the language is still evolving, the proposal would seek to expand the definition of "broker" under section 6045(c)(1) of the Internal Revenue Code of 1986 to include anyone who is "responsible for and regularly providing any service effectuating transfers of digital assets" on behalf of another person. These newly defined brokers would be required to comply with IRS reporting requirements for brokers, including filing form 1099s with the IRS. That means they would have to collect user data, including users' names and addresses. The broad, confusing language leaves open a door for almost any entity within the cryptocurrency ecosystem to be considered a "broker"—including software developers and cryptocurrency startups that aren't custodying or controlling assets on behalf of their users. It could even potentially implicate miners, those who confirm and verify blockchain transactions. The mandate to collect names, addresses, and transactions of customers means almost every company even tangentially related to cryptocurrency may suddenly be forced to surveil their users.
Hey guys welcome to the Silver Report Uncut so I wanted to go over this infrastructure bill we brought it up yesterday some interesting anomalies on it but this is getting very very serious now first off there is a provision involved in it that is going to require monitoring of all of the cryptocurrency exchanges the government is finally going to get their mitts on top of this and what they're going to require is that these companies they report as brokers so the new definition is going to be changed or for a broker will be anyone that is responsible for or regularly providing any service effectuating transfers of digital assets on behalf of another person so these newly defined brokers they would be required to comply with the IRS reporting requirements for brokers this would include filing form 1099s with the IRS so this means that all of these cryptocurrency exchanges anyone essentially who deals with cryptocurrency is going to have to begin collecting user data including users names and addresses so this confusing language that leaves an open door for almost any entity within the cryptocurrency system to be considered a broker including the software developers the cryptocurrency startups that aren't even custody or controlling assets on behalf of their users it could even potentially implicate miners those who confirm and verify blockchain transactions the mandate to collect names addresses and transactions of customers it means almost every company even those related to the cryptocurrency may suddenly be forced to surveil their users now unfortunately this goes far beyond anything that has ever been seen in finance it seems like this bill is specifically designed to crush all small cryptocurrency exchanges so that only those larger and already controlled entities will remain so they're going to get rid of all the small guys because essentially they're going to need to start paying heavy heavy taxes and they're talking about billions and billions of dollars so they're going to be taking this mainly from the newer companies the startups those who really don't want to go along with the program don't want to step in line they're going to wipe them all out now we do know that this bill has been specifically about implementing the plan which is you know eliminating all privacy eliminating all private property on earth taking the property from every individual so the plan moving forward it's going to involve eliminating privacy so to do that it looks like they're just simply going to bankrupt all of these companies by levying massive massive taxes and having them set up intricate systems that will require they track all transactions that are ever made by anyone involved in cryptocurrency that go through their systems so essentially they're stifling this innovation something that is really aggressively spreading throughout the world and of course they view it as an enemy they can't allow this other digital currency to continue operating which would facilitate people to have private transactions you know when you get into where attract transaction took place how much it was for moving forward as they plan to implement the central bank digital currencies it appears that things are going to get very very serious this is bad news imagine not even being able to have a yard sale or a farmer's market not being able to conduct any type of business activity without direct permission from the money controllers unfortunately we've been in a downhill trajectory for quite some time and this took place in Ancient Rome they began devaluing the currency diminishing the amount of silver in the currency and essentially by the time they got down to almost nothing then the soldiers were almost no longer willing to take those coins because they had become merely tokens and that's what we use in the us we don't use coins we don't use money our coins are tokens similar to chuck e cheese meaning they have no intrinsic value they have no value at all except in the grand arcade that is the United States now in the instance with the US dollar of course it's accepted around the world but the simple fact is even our change it no longer uses silver in our currency we no longer use gold we no longer even use copper for our pennies we've drifted that far away from the use of sound money that we refuse to even use copper we use junk metals to produce all three and they still try to keep them looking like they're copper or looking like they're silver but it's really just a big lie and along with this big change the same thing happened that happened during the Ancient Roman empire which is that the economic mobility came to an end and all the people on the bottom they started getting paid in junk the currency it took away the wealth of the lower classes and it started really just descending into an all-out despotism and then the fault leader after leader simply looking to make himself rich or powerful or to take advantage of anything he can until all the wealth everything was gone now the last stages the downfall really it was marked by a lot of chaos within the empire a lot of uprisings some turmoils and a lot of this is probably due to the fact that the commoners and the common people they weren't really having any sound money they weren't really having any wealth because to have wealth you generally need to produce more than you and all of the excess you save up and over time that builds into wealth now unfortunately when we don't use sound money all of that is like a sliding scale it's always becoming worth less and less so even if you were to save up all of your excess money by the time you get any sizable amount the time you began saving it might have been a lot but by the time you get there it's worth less and less and less so it's a perpetual hamster wheel that they have us all on and that's no surprise why the Federal reserve came out the other day and acknowledged that inflation is only half of the Fed's mandate and keep in mind whatever point in time did inflation become the Fed's mandate now overall this is terrible news in regards to cryptocurrency we knew this is coming this is no longer a creep and that's the concerning part about all of this that's going on at first it was shocking and people couldn't believe that they were even suggesting doing this to the United States of America completely demolishing the economy eliminating all privacy eliminating all property rights essentially just wiping out all of our history everything we have ever known and it's a preposterous idea you would think but you know what they began this several years ago and no one's really done anything about it no one's really saying anything about it yet we complain we talk about how it all sounds insane but it still keeps marching on and you know what all of the shocking things they hit us with they always seem to be preparing us preparing us to accept major changes into the future now let me ask you something all of the shocking things that they have come out with and said that they were going to be trying to attempt to do in the US haven't they done them all it seems like they put out a shocking headline that seems like nobody would even be tempted to believe it then within a couple weeks they're doing it they're doing it and no one says or does anything and so therefore they feel emboldened to keep making more and more extreme actions like going in and essentially just manhandling and taking over the cryptocurrency industry under the guise of fixing bridges and roads that's the grand point here people they're not fixing bridges and roads it's simply the grand plan it is this reset it has nothing to do with the bridges and roads it's about taking our privacy about taking everything unfortunately there are still so many people out there that are convinced that this is a good thing or like somehow the do you think the government being involved in cryptocurrencies is going to make them better obviously the only utility they ever had was the fact that it gave us the possibility of escaping the overreach of the Federal government as well as the Federal Reserve without that they're worth nothing who wants to go around and play in the Federal Reserve's playground where you can't touch anything they're in complete and total control and they will make the cryptocurrency industry totally useless if there's no anonymity if there's no way to avoid the banks there's no way to avoid a lot of this control mechanism and if you've paid attention recently they are using the US dollar for our demise they're trying to take down what really could be our only solution at this point and I know a lot of people they don't view that as a solution gold and silver they could be a solution but you know it looks like we're probably going to be moving on to multiple types of monies gold and silver, cryptocurrencies, food different types of ammo all types of things that are valuable more of a barter currency and just like as the denarius was losing all of its value as sound money and people no longer wanted to accept it the same thing will happen here and that's why we have the wealth gap because we're no longer having the same kind of pay effectively that we were having back when we used sound money yeah minimum wage was lower it didn't matter people got paid with real money today we are getting paid with monopoly money they even color it the same they are printing this they are creating it out of thin air an unlimited supply of it and we are working away some people are killing to get access to money this paper that they're creating out of nothing and they are getting so filthy rich I thank you guys for stopping by and joining us as always stay free
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