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The government can confiscate your bitcoin, as has happened with gold, it can invent an absurd law and charge you an absurd tax. Your exchange can be hacked and your data leaked and you become a target, all these events have already happened in history, just research.

Stay safe. 🫂

clambot 2y ago

The Trudeau gov't did exactly this during the convoy protests.

I'm not sure if they had the coins on a third party service, or if they were coerced into giving up the keys or what, but it happened.

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Discussion

noKYC ⚡︎ 2y ago

Perfect, you don't have to go far back in history to find examples.

AlCool 😎 2y ago

Was that a KYC issue or a lack of cold storage? Wouldn't they have to outlaw it for everyone but themselves? They will no doubt need it to compete with the countries that are early adopters.

noKYC ⚡︎ 2y ago

KYC