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President Obama indirectly attacks Bitcoin!

President Obama indirectly attacks Bitcoin! OBAMA: If government can’t access phones, ‘everybody is walking around with a Swiss Bank account in their pocket’

[T]he question we now have to ask technologically is if it is possible to make an impenetrable device or system where the encryption is so strong that there is no key, there is no door at all. Then how do we apprehend the child pornographer? how do we solve or disrupt a terrorist plot? What mechanisms do we have available to do even simple things like tax enforcement? If in fact you can’t crack that all, if the government can’t get in, then everybody is walking around with a Swiss Bank account in their pocket. There has to be some concession to the need to be able to get into that information somehow.

You do it because regardless of what digital data is protected people live in the real world. Crimes, like illegal pornography or planning terrorism, take place in the real world. Law enforcement still has all the investigative tools of surveillance and evidence collection it always has. Real world evidence doesn’t all magically disappear into some encrypted black box.

Is law enforcement made harder? Sure, but there is always a power struggle (in America at least) between government and the people, and lately the government has certainly amassed and abused more than its fair share.

It’s never a surprise to see governments trying to infringe on peoples privacy. One day we won’t be using your fiat dollars and all the control you have over us will be gone freedom is like a lighthouse when you are lost at sea. Wouldn’t that be terrible if we lived in a world where people had privacy and control over THEIR own money?
The only reason any currency has value is because the government accepts it for taxes. The only reason guns have any value is because the government buys them to enforce tax collection.The original currency is labor and we trade it for dollars which we trade for guns.

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