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Posted on 1/7/26 at 12:22 pm to John somers
quote:
Absolute horse manure. "Every state" is not seizing bitcoin after three years.
They are not seizing the property. They are taking custody so the owners or family can find it. Every state I imagine has an unclaimed property database. Unclaimed crypto is just rolling out in some states. This is not a property grab. In fact it is protecting the owners.
quote:
California has introduced a landmark crypto regulation that places a three-year deadline on unclaimed Bitcoin held by custodial platforms. The law marks one of the most direct state-level interventions into digital asset custody in the United States and signals a shift toward stricter consumer protection and accountability standards in the crypto industry.
quote:
The state does not confiscate unclaimed Bitcoin under the new framework. Instead, California positions itself as a temporary custodian. The law preserves ownership rights and allows original owners or rightful heirs to reclaim assets at any time after transfer.
Article that explanins it.
This post was edited on 1/7/26 at 12:30 pm
Posted on 1/7/26 at 12:25 pm to bbvdd
Probably escheated funds process like most states have for things like deposits, dividends, etc.
Posted on 1/7/26 at 12:28 pm to NBR_Exile
Since when does a bank have anything to do with Bitcoin custody? They can do whatever they like but without keys they aren't taking custody of a bitcoin wallet. And everyone on the planet can audit activity on every bitcoin ever minted. It's all right there on the ledger. Someone would have seized the Satoshi wallet by now if it was remotely possible to crack it.
Posted on 1/7/26 at 12:29 pm to NBR_Exile
quote:
California has introduced a landmark crypto regulation that places a three-year deadline on unclaimed Bitcoin held by custodial platforms.
Exactly. "Every state" is not doing this. This is a soclialist wet dream.
Posted on 1/7/26 at 9:11 pm to John somers
quote:
Made by the BIP39 protocol, which is now fully integrated with the blockchain.
Bip39 is not integrated with bitcoin core, never has been and likely never will be. Also, your example shows bip32
quote:
There is no 'seed phrase program'.
Information doesn’t just hash itself. The use of bip comes from programs outside of the bitcoin core wallet. Btc uses sha256, not any bip variant. Personally, i agree with why wallets like electrum don't use bip for seed phrases
quote:
Private keys pertain to a single address (green highlight below) in a wallet full of thousands of them
Standard bitcoin core wallet comes with 100 addresses and keys in your wallet.dat file, it can support more than that.
Posted on 1/8/26 at 3:35 pm to John somers
quote:
Exactly. "Every state" is not doing this.
Yes they are. Just not with crypto....yet
They do it with all other types of property though
The landmark part is including crypto
Posted on 1/8/26 at 3:43 pm to SlowFlowPro
he's stealing land from the fires, may as well steal Bitcoin too.
Posted on 1/8/26 at 4:42 pm to bbvdd
Does that also work for taking wives off someones hands? Lots of husbands have gone 3 years with no activity. Especially the proggie ones
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