Replying to Avatar Toxic Bitcoiner

Government liquidating seized Bitcoin is a good sign. Imagine the opposite: governments use seized coins for SBRs. Guess what. Then there would be incentive to use lawfare to seize more coins so they can be added to SBRs.

Return the Bitfinex coins.
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Michael Snoyman 1y ago

Disagree. They still have the profit motive to unlawfully seize BTC and sell it. There’s no upshot to liquidating the BTC.

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Toxic Bitcoiner 1y ago

At least they don’t end up holding more BTC. That’s the upshot.

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Michael Snoyman 1y ago

I’m in favor of governments holding BTC. What’s the downside to that? I agree with the downside of incentivization of seizing off funds, for civil forfeiture and other BS demonstrate the government is happy to seize any kind of asset for any reason.

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Toxic Bitcoiner 1y ago

The downside is that everything the State has is stolen. Any BTC held by the State is stolen. I don’t support theft.