Wasn't sure about throwing this in Press, as it's not a bitcoin or mainstream media source.
So basically, Coinbase changed their policy and didn’t tell anybody. They simply shut down the accounts of any firearms-related dealers who were doing business with them. They lacked the courtesy to even send us a letter or email after the fact. This was the only mainstream Bitcoin processor that we know of that did business with the firearms industry. The Obama administration’s Operation Chokepoint seems to be having its intended effect. We will have to stop accepting Bitcoin because we now have no other Second Amendment-friendly Bitcoin processor to turn to.
tl;dr 80% Arms doesn't actually sell guns, Coinbase choked their
BTC revenue stream anyway, just as the government wanted them to.
local rule: no anti-civil/human right to self-defense replies, they will be deleted.This is why regulating Bitcoin is equivalent to destroying it. As soon as you make it part of the system, it becomes the system, and the inherent value it had of being independent of the system is destroyed. The solution is to use Bitcoin MORE, not less, and do more person to person trades. This is a perfect example of banks writing regulations to protect themselves from overreaching government imposed liability, and as a result your legal rights are stripped by denying you the ability to do commercial trade in stead of openly denying everyone their second amendment rights.
In effect they can deny people any rights by denying people the ability to trade, as everything is commoditized now days and there is literally no exchange that does not constitute a commercial transaction. I think this is a worthy reason to boycott Coinbase, regardless of how much of a standard industry practice this is. Force these 3rd party services to lobby for your freedoms, otherwise they wither and die from lack of use.
