Interestingly, the old axiom has a different meaning than what people think. It is a quotation that defends the authority of a legislature to govern in the interests of collective security [1].
"He was writing about a tax dispute between the Pennsylvania General Assembly and the family of the Penns, the proprietary family of the Pennsylvania colony who ruled it from afar. And the legislature was trying to tax the Penn family lands to pay for frontier defense during the French and Indian War. And the Penn family kept instructing the governor to veto. Franklin felt that this was a great affront to the ability of the legislature to govern. And so he actually meant purchase a little temporary safety very literally. The Penn family was trying to give a lump sum of money in exchange for the General Assembly's acknowledging that it did not have the authority to tax it."[1]
> it really strange how the things that my generation valued (e.g. individual freedom) are being overturned
It's interesting for me as well. In the US, when I was younger, I always perceived "individual freedom" as a fundamental element of the right. It's only now as I get older that I see that's not really the case (at least, not anymore). That it seems as if the left has taken on that role of championing individual rights over that of the state.
I think in the context of crypto, I think it's a fine balance of freedom versus regulation, which is why it's taken so long to get anywhere with it.
Honestly, I think a large part of the reason it hasn't really been touched much is the feds ability to crack down on criminals despite using crypto. The belief that it's anonymous and untraceable makes it seem like at some level, it's easier to track people down. And in a circle of criminals, you only need to break the weakest link.
1. https://www.npr.org/2015/03/02/390245038/ben-franklins-famou...