Replying to Avatar QW

I keep reading that my state, Arizona enacted a Strategic Bitcoin Reserve.

But when I read what was actually passed I’m like hmmmm.

1. Bitcoin presumed abandoned if the holder doesn’t respond to communications within 3 years?

2. State seizes unclaimed Bitcoin after 3 Years?

3. Reserve will be formed from Staking and Airdrops revenue from seized Bitcoin?

4. Reserve Fund used for future appropriations?

Most of this doesn’t even make sense.

“Holders must deliver the abandoned Bitcoin to the State? 🤣

Should this be celebrated? Or is it a Loss normalizing state seizure of CrYpTo wrapped in a glorified headline?

Furthermore, the other Bill which would have allowed Bitcoin Investment within State Pensions was vetoed.
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Chad Lupkes 8mo ago

That's an automatic fail, in my book. Remind me never to hold anything in custody in Arizona. Repeal this piece of crap.

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Chad Lupkes 8mo ago

I stand corrected. This does not affect self-custody at all, and the language of the bill provides numerous examples of actions that can remove the danger.