The following bitcoin addresses have been placed on a sanctions list by US authorities:
I wonder what will come of this? What happens if those addresses start spamming random active addresses on the blockchain with small amount of BTC? This sanction will be very messy and difficult to enforce lol.
@htimsxela oh this is very interesting
I feel like in the near future some wallets will include a config option that sends 1 satoshi each to both of the sanctioned addresses with every transaction.
@htimsxela Running a bitcoin node is a form of free speech. The state cannot compel or suppress free speech, so it can neither compel us to run software that rejects transactions nor prevent us from running software that validates transactions. They may confiscate funds from a KYC exchange but I think that's the limit of enforcement.
@r251d I saw someone on Twitter say "now it is up to the US govt to build and then convince a majority of bitcoin users to run software that sanctions these addresses" hehe
Futility aside, I think it will be interesting to see how this plays out, at least socially.
I *don't* think its a good thing though. Destroying fungibility is an attack on bitcoin, I think in the future it might become a serious point of contention.
@htimsxela Can you link a source to that please? Thanks. Just curious how they intend to prevent anything happening with those addresses.
This is so incredibly vague, considering the function of the Bitcoin network... I have no idea how they could hope to stringently enforce such a rule. The obvious / 'easy' way would be to regulate exchanges, etc, that are within their jurisdiction. That seems possible, though still messy in some cases. The wording could imply a further reach, but futility abounds in trying to enforce it.