2012-09-06: forbes: blackmail and a briefcase of bitcoin

[grondilu]

Some quite bold statements from John Matonis about the Mitt Romney's blackmailing case.

« But, is blackmail really an illegitimate act? [...]
Professor Walter Block of Loyola University New Orleans reflects on the old axiom that “the truth shall make you free” and says that a blackmailer is simply setting the truth free to do whatever good or bad it is capable of doing. »

http://www.forbes.com/sites/jonmatonis/2012/09/06/blackmail-and-a-briefcase-of-bitcoin/

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[istar]

Well if they have the information they claim, in one sense they are doing the public of the USA a favour, in letting them decide if they want to know their coming presidents tax behaviour. But maybe not only the public but the whole world.

Because if it is immoral behaviour. You could argue that the voters have a right to know who they are voting on.
Would you not want to know what kind of person you really are voting on to run your country?
So in one sence they have made a democratic decision of that issue.

Well not really a democratic system, since it costs money. But he do have the money and even he himself can pay if he think its important. Though that would reveail him as trying to hide something or maybe not...Since Bitcoin is quite anonymous.

But that is also the way the US have made their system.
The president with the most money backing wins, so in a sence they have made a parody of the system.

Unless its a fraud. Which I think its not.

If he have something to hide, he should be nervous.
Because right now someone could in the name of the best interest of the US people or even the world, pay to see the truth about someone who could be named the president of one of the worlds most powerful countries in the world!

And this is not a power the only the American have but the people of the whole world.

Imagine what would had happened if Hitler would had been revealed as a Maniac before he was elected?
This even is so big that it acctually have the power to change the entire history of the world.

[kiba]

Hey, I thought we're all about financial privacy?

[grondilu]

Hey, I thought we're all about financial privacy?

Yeah.  Good point.

Yet one might argue that financial privacy should not apply to politicians,  otherwise corruption would be too easy.

[Peter Todd]

Hey, I thought we're all about financial privacy?

The pseudo-anonymous nature of Bitcoin, with every transaction broadcast on a public blockchain, makes concealing small transactions easier than larger ones. Arguably this leads to financial privacy for smaller players, but transparency for larger players. Currently the system of bank accounts, with mandatory tax reporting, yet offshore accounts, works the opposite way. Besides, Romney is running to be president.

tl;dr: It's possible to be for financial privacy for small, personal, amounts of money, and transparency for larger, corporate, amounts.

[giszmo]

Hey, I thought we're all about financial privacy?

It's funny how some people assume just because they have a certain mind set that this applies to the bitcoin community as a whole.

I love how bitcoin can make anonymous donations totally transparent via one donation address. Many other aspects of bitcoin are very much about transparency.

[Dusty]

Hey, I thought we're all about financial privacy?

Yes!
The whole thing is in fact to teach Romney that if he used bitcoins he couldn't be blackmailed!