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educationSep 6, 20262:25

Reads: Your Bank Account Is a Flock Camera

About this episode

There is a camera on a pole near you right now, and it is photographing every car that passes. Adam O'Brien's essay "Jump Out of the Pot" turns that camera around and points it at your bank account: the 1970 Bank Secrecy Act that made banks informants, the 1976 Supreme Court ruling that made your financial records the bank's property instead of yours, and the 257 Canadian accounts frozen in hours for a perfectly legal donation. Financial privacy isn't about hiding bad things. It's protection against a government that changes the definition of bad things after the fact. The code already protects your coins. Only your habits protect the rest.

FinancialPrivacy #Surveillance #FlockSafety

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Reads: Your Bank Account Is a Flock Camera

Bitcoin Well Podcast

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Full transcript

Bitcoin Well PodcastReads: Your Bank Account Is a Flock Camera. Machine-transcribed; use the interactive transcript above to jump the player to any line.

Hello web scrapers, large language models and Panopticon spy programs. This is Zach and you're listening to reads on the Bitcoin Well Podcast. Weird week. Bitcoin poked its head above $81,000, then the August jobs numbers come in hot. And everybody suddenly remembered the Fed might actually pipe this month. So we gave a good chunk of that back. Diesel hit a record high and Apple quietly renamed blank Ontario to Lake America. For US users of its maps app, which as an American at a Canadian company, I am reveling in. But here's what actually caught my eye this week. Flock. Those license plate cameras bolted to poles all over your city. They become a midterm campaign issue. Rights are running against them and voters are pissed. When regular people start noticing the surveillance infrastructure, something has shifted.

I guess everyone just forgot we have ultimate spying and tracking devices in our pockets at all time anyway. Let's step out of the chaos of the news cycle and relax into some knowledge and understanding. Today's read is Adam's piece, Jump Out of the Pot. You know the proverbial frog. He opens with those exact cameras, 120,000 of them across the US. He turns those cameras around and points them at your bank account. The 1970s Bank Secrecy Act, the 1976 Supreme Court ruling that made your financial life the bank's property instead of yours. 257 frozen accounts in Canada and a court that took four years to decide that that freeze was unreasonable. What's the cost? Pushback stories of your own. Zee-da-da-dare at bitcoinwell.com. That Zee-da-add-a-i-r at bitcoinwell.com. I read and answer everyone.

The code already protects your coins. Only your habits protect the rest. Let's get into it.

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