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re: Why bitcoin is worse than a Madoff-style Ponzi scheme
Posted on 12/23/21 at 8:22 am to tigerpawl
Posted on 12/23/21 at 8:22 am to tigerpawl
quote:
And there's the big misconception. People keep saying this but they never say how. They never complete the sentence. You'll always see vague, undefined references to it but you'll never see a schematic. The gov't CAN'T get involved (other than taxing gains).
FBI confiscates bitcoin
2
Posted on 12/23/21 at 8:58 am to Azazello
If you host your coin on an exchange, it’s subject to confiscation. A hot wallet of any sort might have a vulnerability. Pretty sure that’s what happened there.
There is no method to confiscate digital assets hosted on a cold wallet as long as the seed phrase is kept secure. Its among the most secure things you could ever personally own.
There is no method to confiscate digital assets hosted on a cold wallet as long as the seed phrase is kept secure. Its among the most secure things you could ever personally own.
Posted on 12/23/21 at 3:31 pm to Azazello
quote:
FBI confiscates bitcoin
Anyone who decides to let an exchange holds their coins is at the mercy of the exchange. If you hold your own coins, there is nothing that can happen to them unless the FBI shows up to your house and starts chopping off your fingers until you give them the private key.
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