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Posted on 1/6/26 at 8:49 pm to bbvdd
The problem with the law, other than requiring exchanges to hand over access to accounts, is that exchanges would need to share activity logs or reports filtered to California residents on a continuous basis, or voluntarily report inactive accounts held by Cali residents.
If I run an exchange I’m saying no to all of it.
If you found out your bank was giving your state government access to some accounts, would you keep your accounts there?
If I run an exchange I’m saying no to all of it.
If you found out your bank was giving your state government access to some accounts, would you keep your accounts there?
This post was edited on 1/6/26 at 8:52 pm
Posted on 1/6/26 at 9:25 pm to Lou the Jew from LSU
I've wondered it one could use bitcoin to transfer money to offshore accounts safely.
Using cash in hand if undeclared TSA can compensate it.
Using cash in hand if undeclared TSA can compensate it.
Posted on 1/6/26 at 9:26 pm to bbvdd
A common thief.
Posted on 1/6/26 at 10:01 pm to bbvdd
California is apparently bleeding lost tax revenue from business leaving. So they can't steal from them anymore. Feds aren't bailing them out so cant steal from them
They gotta steal from somewhere.
They gotta steal from somewhere.
Posted on 1/6/26 at 10:24 pm to bbvdd
What if the people who own the stagnant account live in Pensacola, or Tupelo?
Posted on 1/6/26 at 10:27 pm to LordSaintly
quote:
I don’t think the exchanges would play ball though
The SEC would shite down their throats for doing that. I hate btc regulations, but this is one of the few times it may actually be useful.
Posted on 1/6/26 at 11:39 pm to SoFlaGuy
quote:Yes, and a thief.
Is every liberal a fricking retard?
Posted on 1/6/26 at 11:44 pm to bbvdd
That's straight up theft and I have no clue how they think they'd commandeer it.
Posted on 1/7/26 at 12:06 am to ruzil
quote:
Isn't bitcoin encrypted?
How are they going to get the owner to fork over the pass code?
Bitcoin on exchanges can be seized. Bitcoin in cold storage cannot.
If your coin is on an exchange, you don't actually own it, nor do you have the seed phrase for it.
Think of it like owning an IOU for gold that someone is holding for you vs having the actual gold in a safe at home.
This post was edited on 1/7/26 at 12:07 am
Posted on 1/7/26 at 12:11 am to bbvdd
This is why my crypto has been in cold storage for years. I trust no one.
Posted on 1/7/26 at 12:30 am to mtntiger
quote:
And some people think this a-hole would make a good President?!?
And he’s the centrist of 2028 Democrats
Posted on 1/7/26 at 7:30 am to John somers
quote:
nor do you have the seed phrase for it.
Private key. Seed phrases are secondary means of acquiring your private key, made by programs not involved with the bitcoin core wallet.
Posted on 1/7/26 at 7:34 am to bbvdd
Government overreach … illegal seizure
Posted on 1/7/26 at 7:37 am to bbvdd
Obviously illegal on its face
Posted on 1/7/26 at 7:38 am to TigernMS12
quote:
Yea that’s going to an unauthorized taking under the takings clause as long as someone’s name is attached to said account. How is this any different than a bank or investment account?
Try flying from Boston to Toronto with three 1oz Gold Eagles in your pocket, minted and distributed by the USGovernment. TSA can and will confiscate and keep them and give you zero reason or legal redress.
Posted on 1/7/26 at 7:44 am to Lou the Jew from LSU
I have a client who sold a used van in 2011 for Crypto. He did'nt want the crypto but the guy was offering 4,500 in crypto for a van worth 3k so he took the deal. Client sold it all in 2021 for a nice profit.
Posted on 1/7/26 at 7:46 am to bbvdd
Maybe Trump should transfer custody of all the federal money that was given to California for the high speed railway and homelessness problems due to inactivity
Posted on 1/7/26 at 7:46 am to bbvdd
Just read the bill. It isn't just Bitcoin. It is all crypocurrencies.
Posted on 1/7/26 at 8:28 am to bbvdd
As long as you don’t live in California or NYC, you’re probably safe.
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