I like the thinking, 2 questions:
How do the authorities know its “my ₿itcoin”
How do they take said asset?
Discussion
They bring you to court and demand you give them the money, if you don’t they’ll seize any property you may have to account for it, or they’ll just garnish your wages.
Yet another reason to not be a wage slave and to put your assets into trusts owned by LLC companies. There are ways, but also ways for motivated entities and agencies to pierce the veil of privacy. It’s a matter of making discovery effortful, expensive, and difficult.
My guess would be something like this. Most people have a set of associated IP addresses with confirmed transactions online. There are thousands of leaky apps logged in to some version of your identity. Any Bitcoin transaction will have IP addresses associated with the sent and received blockchain data. If the Bitcoin you hold were moved into your wallet and associated with that same IP address than that BTC can be marked, devalued, and seized. Volume, VPN, and Tor all help.
The Canadian Authorities might be able to black list those coins, devaluing them in Canada. I don’t know how that will effect their value in El Salvador. As for the seizure i have the public key in my home and private keys in my head. I practice multiple wallets so even if i did give up the amount from the car they really can’t hold me for more. And If I die my offspring would still have to wait for the smart contract to expire before its sent to another multi sig wallet.
This sounds like a reasonable approach. I think it’s important for people to remember that Bitcoin is not anonymous by default. That isn’t to say it can’t be made anonymous if you work at it. #Bitcoin
No youre supposed to gaslight the plebs into thinking theres nothing that can be done to improve bitcoin nooo youre not even repeating the current thing :'(