If #bitcoin can't be seized why is the US government the top holder?
https://www.trustnodes.com/2023/03/28/us-gov-becomes-top-holder-of-bitcoin
Discussion
Bc Bitcoin honeypots can be seized
5$... I mean $20(inflation) wrench attacks can still happen to the unprepared
Stay strapped or get clapped moment
Because it wasn't seized, weak people gave it up. If it could be seized you wouldn't need those folks to give up their keys. Like bank accounts, they would freeze them and then seize the account.
"Listen punk, give us your bitcoin or get 20 years in prison"
They will sell it off. A fool and his bitcoin are soon to be separated.
Good point
Depends on method(s), that said, 'seizure resistant' is a bit closer - though, ultimately - again, depending on method - one can, more or less, ensure 'key holder' complicity to gain actual custody - ie. 'Platonic Vault' / 'Plato's Wallet'- The Realm of Ideas/Thought/Mind/Formless'
I guess also relatively quick to move UTXOs to other private key too, which you can't really do with gold š
Who said it canāt be seized?
Itās hard to seize
Some might say itās the most seizure resistant
They are experts in $5 wrench attacks.
Because they stole an unlocked laptop open in admin mode to a site called the silk road
As usual they gaslight you while stacking sats and steal the rest...
One could...in a vaguely 'tin-foil' way even call the SEC Crypto drama as an homage to 'fair play' for precisely this reason - if EVERY member of Congress and Supreme Court etc ..HA!!! --- Has dozens of Bitcoin...and then legislation.... One could theorize that legally speaking a case is simpler if there is a period of broad public discussion, such that....if a politician came out and said...'Well .... I bought the dip' .... it would basically give them an almost excuse/cover...because...if its being discussed very publicly -- its NOT behind closed doors....not...granted...unlike most companies for instance...Bitcoin IS special in that it CANT be behind closed doors... -- so depending on how you want to look at it. This is 'kind of' a middle way.....its allowing a public period of discussion and awareness for public and private parties to make of the information...what we all will --- SURE if you're writing the rules there are advantages...but if one leverages the fruit of learning and understanding of the ....fundamentals of what the blockchain is...and how the modern macro-economy is inter-related with micro-economies regionally....--the technology will transcend borders and jurisdictions...its the fundamental ways in which we exchange value and ideas that will drive the adoption and utility...... ---- ramble ramble...wild and exciting times
I think saying bitcoin is āunconfiscatableā is where people are wrong
How does an entity as incompetent and corrupt as the US GOVERNMENT handle private keys and storage of this vast trove?
I can see a future in which some low level beurocrat disappears with 200,000 HTC and sets up in north Korea.