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Week 12 of freedom news
Welcome to episode 12 of weekly freedom news, on Network States, individual sovereignty, Libertarian progress, developments in privacy (tech), hard money, economic (de-)regulation and more.
"I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop."
— F.A. Hayek, 1984
⚡Top of the Agenda
Bitcoin Jesus has to pay taxes to a country he hasn’t lived in for 20 years
Trump appoints some crypto friendly people to office, hopefully spurring real-world crypto innovation
1. Bitcoin Jesus Under Tax Attack
Back in May 2024, Roger Ver, "Bitcoin Jesus," was arrested in Barcelona for allegedly evading nearly $50 million in taxes on $240 million worth of bitcoin sales.
An early crypto pioneer, Ver was known for giving away free Bitcoin when it was worth $0.31 to $31 per coin.
The U.S. Attorney's indictment claims that Ver underreported his Bitcoin holdings when renouncing his U.S. citizenship in 2014 and failed to pay capital gains taxes in 2017.
In response, Ver's legal team has filed a motion to dismiss the indictment, arguing that the US government has overreached and hopes the incoming Trump administration will drop the case.
Moreover, his lawyers say that Ver sought professional advice and attempted to comply with tax laws during a time of limited regulatory guidance for digital assets.
Ver claims he intentionally hired reputable attorneys and accountants to ensure perfect tax filing, anticipating potential IRS scrutiny after expatriating.
The case highlights the ongoing tension between cryptocurrency entrepreneurs and U.S. regulatory bodies, with Ver's supporters viewing the prosecution as politically motivated.
If convicted, Ver could face significant prison time of up to 5-10 years depending on the details of the case.
Why they come after him so hard, after all these years, is unclear, though consistent attacks on crypto people have been common during the Biden administration. It is not unlikely that he is being targeted because they do not like crypto people.
Ver remains out on bail in Spain, with a potential extradition trial set for February 2025, continuing to maintain his innocence and challenge the government's claims.
If you’re keen to learn more, the topic is discussed at length on the Tom Woods show:
2. Trump Selects Crypto Friendly Paul Atkins to Head SEC
We’re seeing signs that the era of constant attack on crypto people is likely behind us.
President-elect Donald Trump plans to nominate Paul Atkins, a former SEC Commissioner, to head the Securities and Exchange Commission.
Atkins, currently CEO of Patomak Global Partners, is a veteran in financial and Republican political circles.
The nomination would replace Gary Gensler, who was unpopular in the crypto community for his restrictive approach to digital assets:
Gensler fought any crypto company he could find, and lost every case, which he allegedly did because that could have allowed him to argue for stronger legislation.
Trump explicitly supports Atkins, praising his approach to "common sense regulations" and recognition of digital assets' importance.
Atkins previously served as SEC commissioner from 2002-2008 under President George W. Bush, with prior experience in the agency's corporate finance division.
The nomination aligns with Trump's pro-deregulation stance and crypto-friendly approach during his previous administration.
and….
This announcement comes in lockstep with Bitcoin' hitting its historic $100,000 milestone, marking a breakthrough in cryptocurrency valuation.
This was unimaginable just a few years ago. But some people have always seen this as a likely outcome:
(This man is now rich.)
Also…
Trump names David Sacks as White House A.I. & Crypto Czar. Here is a thread on X explaining why he would likely be very friendly to either topic.
We’re hoping that these crypto-positive picks would allow crypto, an impressive alternative financial system, to finally connect with the real world. Bitcoin is, despite its volatility, an excellent store of value; once it matures it may completely revolutionize the financial system. Alternative blockchains are used for remittances with US Dollar-pegged stablecoins, and sometimes it’s also fun to use the crypto system for gambling. However, as Matt Levine wrote in his interesting 2022 explainer on crypto, lamenting the up until then, and arguably still, rather useless “web3” space:
”Crypto, meanwhile, has built a financial system from first principles, pure and pleasing on its own, unsullied by contact with the real world.”
“If so many smart finance people have moved into the crypto financial system, if they find it so much more enjoyable and functional and productive than the traditional financial system, surely they’ll eventually figure out how to make it, you know, useful.”
Assigning people to government bodies that are not intent on attacking every single person who dares to do so much as utter the word “crypto”, might allow some companies to start connecting that abstract financial system to real things that real people do in the real world!
Also this week
President Biden pardons Hunter Biden for crimes a month before leaving office. David Friedman had predicted that Biden, corrupt as he is, would do exactly that.
An infographic from MIT principal research scientist Andrew Mcafee’s article on Europe’s “non bubbly” economy:
Interesting media
Patrick Hiebert is the founder of the EcoVillages - a libertarian and sustainability focused community building company based in Latin America.
In the podcast they cover:
His personal evolution from living on a boat with his son to creating intentional communities in Latin America.
FIRST principles (Freedom, Independence, Resilience, Sustainability, Transparency), with a focus on building libertarian-oriented communities that offer alternatives to traditional government-controlled living spaces.
How his communities integrate unique features like mandatory Bitcoin usage, energy sovereignty, and strategic locations around Latin-American countries which offer more flexible regulatory environments.
A 45-minute reason.com documentary takes a look at Milei’s reform agenda which has both proponents and enemies domestically and abroad. Recommended watching.
Events
Ongoing: The Network School, Near Singapore: September 23 - December 23, 2024.
Vitalia Forever, Vitalia City, Próspera ZEDE, Honduras: January 6th - March 3rd, 2025.
Edge Esmeralda 2025, Healdsburg, CA, USA: April 24th - June 21st, 2025
See based.guide’s event page for all events.