Your first and only warning

I'll let you guys in on an open secret that hasn't made big waves in the crypto world yet but should have you worried: encryption is about to die. When encryption dies, most cryptocurrencies die, including BTC. The only potential survivors will be those that were built from the ground-up with government control in mind (XRP, ADA etc.).

Since most of you are hopeless at geopolitics I will explain it to you in plain English. There is a group of countries known as "five eyes" that was set up after WWII to share intelligence. They work very, very closely together. The countries are basically the anglosphere: the U.S., Canada, Australia, New Zealand, and the U.K.. This isn't some randomly conspiracy theory, it's completely legit and open, and the relationship is based on ratified treaties.

en.wikipedia.org/wiki/Five_Eyes

The big dick swinger in this is obviously the U.S.. The other countries have some sway, but all the eyes are very highly integrated, and basically are committed to the U.S. being the global hegemonic power, and so follow the U.S.. Disclaimer: I completely support this policy. I'm not some butthurt anti-U.S.cuck, I'm just telling you how it is.

Now the tricky thing is that the U.S. has the most need for intelligence out of any of the eyes, but it is also the most hamstringed by its constitution and domestic policy, since, popular misconceptions aside, U.S. courts and voters are very averse to government power when it can infringe on civil liberties. Increased surveillance powers are a difficult if not impossible sell.

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itnews.com.au/news/five-eyes-nations-to-force-encryption-backdoors-511865
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This is where five eyes comes in. In many cases the U.S. can't necessarily do what it wants in terms of information gathering. But the other four eyes can. And the U.S. can just get that information from them via their formal intelligence sharing relationship. To summarize, the U.S. routinely uses other eyes to get information that it cannot get itself due to legal technicalities. For example, if the U.S. cannot constitutionally wiretap someone, they can see if Canadian law lets Canada do it, and if it does they can request Canada do so and share the information with the U.S.. In such a way the U.S. intelligence agencies have more power than most people realize.

Here's the crucial thing: not only does it just ask for intel, one of the major functions of the U.S. intelligence community is to use diplomacy, lobbying, favours, and sometimes outright bribery, to get other eyes members to enact laws that give those countries greater spying and intelligence gathering powers, so as to get the intel the U.S. needs. Because when those countries get more powers, the U.S. effectively gets those powers as well. They effectively have a backdoor to that information.

We can see many examples of this in the past. For example, New Zealand was asked to start information interception on its underground telecoms cable the Southern Cross Cable. It did. The United Kingdom was asked to expand its surveillance powers, and got it with Investigatory Powers Act 2016. In both times the increase in a foreign eyes powers meant a corresponding increase in the U.S. intelligence powers without the mess of having to put that into domestic law in the U.S. itself, which would have been deeply unpopular and/or impossible.

So where am I going with this? Well for the past few years there has been a push within five eyes to get encryption backdoored. That kind of bill would *never* be made law in the U.S., but the legislation is just about ready to go in Australia and it will almost certainly pass because Australians don't value their freedom anywhere near as much as Americans and are trivially swayed by arguments for fighting crime and terrorism. The U.K. is next for the legislation.

And so very soon the U.S. gets a backdoor to all encryption. Think what this means for say XMR, or most of the major tokens.

You have to prepare for this now, or you will lose lots of money.

itnews.com.au/news/five-eyes-nations-to-force-encryption-backdoors-511865

what are immune coins. help me

Imagine being the yard that spent time writing this rubbish just because he’s a XRP bagholder

technically everything he said is true and it was corroborated by Snowed. Not sure about the last part with backdoors and how it impacts crypto. A backdoor requires someone to put it there and since most crypto projects are open source, it would be discovered in like 1 week. Unless OP is referring to new encryption algorithms have backdoors, but I'm not sure if that's a problem since people in crypto are aware of this and mostly stick to proven encryption methods.
TL/DR: OP is technically correct, but it's not a big deal

>snowed

Op is an NPC, range ban please

your retarded. you cant "just backdoor" ecc. Its literally provable by math. But if there ever is an exploit, bitcoin uses the secp256k1 curve and pretty much all cryptonote coins use edd25519 curve params. So even if the govt managed to backdoor one curve (which is considered impossible anyway) we would still have backup cryptos.

They don't need to crack any encryption, just plant some chip or hardware "flaw" like the intel IME shit and the more recent apple / amazon china backdoors