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After several conservative activists were "defeated" by JP Morgan Chase earlier this year, CEO Jamie Dimon will not deny that there may be more. This is the impression left by the vice president of the National Center for Research on Public Policy, David Almasi, when he confronted Dimon at a meeting of shareholders that took place. Is held earlier this week.
Almasi gave a copy of George Orwell's book 1984 to Dimon to be able to "rethink the specter of Big Brother", but left the meeting unconvinced of its effect. Dimon made it clear that the bank would not cancel more conservative accounts in the future.
Yet, as the spectrum of Big Brother Banks is vast, so is his exorcist. Come the hour, come the room.
Bitcoin: The answer to 1984 is 1BvYMSELstWetqRFc16 …
Is it to suggest that Bitcoin is absolutely free of censorship? After all, Milo Yiannopoulos was started from Coinbase within three minutes of creating his account. Similarly, the social media site Gab was not considered the right type of clientele, although Coinbase then formed a team of phantasmagorical hacking specialists to prosecute independent Saudi journalists.
Yet this only reinforces the case of Bitcoin. Coinbase does not own Bitcoin and its authority extends only to the extent that people's laziness allows. Milo, Gab and everyone can still use all the services of the Bitcoin blockchain.
Even if all the world's online payment, banking and cryptocurrency platforms refused to offer their services tomorrow, this would still be the case. People have been living on Bitcoin for a good part of the decade – an increasingly easy task (or privilege) every day.
In short, there is no intermediary when you tap directly on the Bitcoin source. Yes, an initial transaction must take place, but with LocalBitcoins resellers in 16,628 cities in 248 countries, it's as easy as buying from Craigslist.
In the end, the Bitcoin source code is not capable of discrimination, which can not be said for JP Morgan.
JP Morgan makes the happiness of the censor: Dimon eliminates the accusations
When David Almasi clashed with Jamie Dimon at last week's shareholder meeting, he asked her to explain the abrupt closure of bank accounts owned by Enrique Tarrio, Joe Biggs, Laura Loomer and Martina Markota. Almasi recorded the meeting:
A written account of the question can be found here. Almasi, the day after the meeting, said:
"We gave Dimon a chance to say definitively that JPMorgan Chase did not demystify the Conservatives and will not use his power against the Conservatives in the future, but he really gave us only the half."
In response to Almasi's nine-paragraph question, Dimon responded brusquely as follows:
"Very directly, we have not debited and we do not discard people because of their political opinions. We do not have and do not do it. And we are dumping people because they are DSA, AML, KYC or unable to comply with the regulations – regulatory-type requirements for them. "
These KYC statements go against the stories of stunned victims, who claim that their stories were perfectly up-to-date and legitimate. In fact, when they contacted customer support, the sudden deletions also disrupted the ground staff.
Almasi says that those on the right side of the political division end up with a simple choice:
"If Jamie Dimon absolutely can not guarantee that Chase Bank will never discredit the Conservatives, they should consider banking elsewhere."
Blockchain prepared for the threat of censorship
If the blockchain was invented after the Watergate scandal in the 1970s, one of the first use cases proposed would probably have been the logging of government communications. In the 1980s, it was considered a tool to track illicit imports from Colombia on the Miami coast. In the 90s, with sufficient foresight, saved the Internet from the dystopian nightmare in which it would evolve soon.
The first words of the Bitcoin genesis block helped to better understand the motivations of his invention. And while the threat of another catastrophic recession like 2008 may still be on the horizon, it seems Bitcoin's fight is concentrated elsewhere.
"The Times 03 / Jan / 2009 Chancellor is about to benefit from second bailout of banks"
As more and more corporations, banks and Internet services continue to censor the Conservatives, the path to cryptocurrency adoption can open on its own. The overall collective effort deployed to convert people into Bitcoin would be overwhelmed overnight, as people were naturally looking for a financial device they could rely on.
But there is a price to pay for the independence offered by Bitcoin. This award is the responsibility. JP Morgan Chase has become the giant and centralized authority because people have given up their responsibilities for convenience. It can be reduced as quickly if people decide to take it back.
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