Bitcoin’s Operation Chokepoint with Doomberg - WBD634

Doomberg is an anonymous collective producing the world’s
most popular financial substack. In this interview, we
discuss coordinated action against the crypto industry being
undertaken with limited congressional approval or oversight.
We talk about historical precedents, what this could mean for
Bitcoin and Bitcoiners, and why we need a financial bill of
rights.


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Mark Twain once said that “History never repeats itself, but
it does often rhyme.” Therefore, Bitcoiners should be
extremely wary of the recent precedents of a ruling US
administration being willing to de-bank business verticals
antithetical to certain political beliefs. In 2011, the Obama
administration targeted selected online poker businesses. In
2013, the same administration used the DoJ to lean on banks
doing business with firearm dealers and payday lenders.


The problem is simple: a legitimate business and/or
technology is kneecapped by a ruling body for subjective
political reasons. Public-private institutions, such as
banks, are lent on to hamper the functioning of businesses
earmarked as being problematic. The fundamental issue is the
methods applied are anti-democratic. There is no open debate
or examination. A decision is made behind closed doors, and
people, institutions and businesses are pressured to comply.


We are currently witnessing coordinated illiberal action
against crypto-aligned companies. The intent is clear. Yet,
there has been no debate. And whilst Bitcoiners may gain
comfort from the actions being taken against crypto, the
problem is politicians haven’t revealed their full intentions
yet. It is highly likely that Bitcoin is also in their
crosshairs. As Doomberg asserts “eventually they'll come for
your Bitcoin too.”


What this lays bare is the willingness of those in control to
de-bank perceived enemies. De-banking at face value may seem
like an annoyance, but it actually strips an individual of
agency. A person without access to the financial system is
effectively neutered. It is a malevolent, silent and
effective means of control. And, the methods applied a decade
ago are being reapplied to control first crypto, and then
Bitcoin. Be aware, be prepared, and raise hell.