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re: Louisiana Banks get green light to store BTC and ETHPosted by Shankopotomus on 6/27/22 at 11:57 am to RobbBobb
sure, at least I do ... I never said I was going to do it BUT I think having more options for more adoption is net-net probably good
If this was an attempt at REQUIRED - we'd be in a whole different ballgame obviously
If this was an attempt at REQUIRED - we'd be in a whole different ballgame obviously
re: Louisiana Banks get green light to store BTC and ETHPosted by Jag_Warrior on 6/27/22 at 12:14 pm to RobbBobb
quote:
And if the fed authorizes a seizure of your assets, guess what?
What you’re saying is basically true. But in the case of a court ordered asset seizure or lien, even if you had your crypto in cold storage, would you lie about your assets to a federal investigator or the court? I mean, people do. Some get away with it… and some don’t. The ones who don’t tend to wind up in Club Fed. So I’m just asking.
re: Louisiana Banks get green light to store BTC and ETHPosted by RobbBobb on 6/27/22 at 12:34 pm to Jag_Warrior
quote:
would you lie about your assets to a federal investigator or the court?
It has been my understanding that crypto was created for the sole purpose of securing your wealth from the fed. So yes, you lie
re: Louisiana Banks get green light to store BTC and ETHPosted by JayDeerTay84 on 6/27/22 at 12:50 pm to RobbBobb
quote:
I dont think you guys quite understand what a custodian does? In order for the bank to "protect and maintain" your crypto, you have to give up your passwords, and such
No. You don’t have to give up your passwords. You would transfer your BTC to their custodial account with a contract based on agreed terms. Once terms are fulfilled, you get your BTC back or roll in a new loan.
With just “storing”, most people keep their crypto on exchanges anyway which is centralized.
The network itself is decentralized.
The financial system will take much more time to decentralize and probably never in our lifetime with the way modern governments work.
DeFi is unique though, but is supper risky.
This post was edited on 6/27 at 12:52 pm
re: Louisiana Banks get green light to store BTC and ETHPosted by TigerTatorTots on 6/27/22 at 1:07 pm to RobbBobb
quote:I think most everyone in here knows all of these things you mention
I dont think you guys quite understand what a custodian does? In order for the bank to "protect and maintain" your crypto, you have to give up your passwords, and such
Its like a safety deposit box. The bank gets a key too. Sorta the complete opposite of decentralization, right? And if the fed authorizes a seizure of your assets, guess what?
re: Louisiana Banks get green light to store BTC and ETHPosted by Jag_Warrior on 6/27/22 at 8:51 pm to RobbBobb
quote:
It has been my understanding that crypto was created for the sole purpose of securing your wealth from the fed. So yes, you lie
No, not this ol’ boy. I had an (ex) friend who got caught up in some insider trading foolishness back in the day. He tried to lie his way out of it and wound up in federal courtroom in Las Vegas. Didn’t have a happy ending.
Hopefully you won’t be faced with that choice. But you might pass that hypothetical by TheOcean (an attorney, I believe) before taking that firm stance. Just sayin’.
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