safety – Why do folks declare that governments can not confiscate Bitcoins?


As an instance that I’ve taken the utmost precautions, match just for a pc nerd like myself — undoubtedly not the typical particular person. I’ve used Bitcoin Core on a devoted, safe pc and created an encrypted pockets.dat, then put that on a sequence of self-encrypted USB sticks/exhausting disks, storing them round my home and in my fireproof protected. The decryption phrases are very robust and I have not saved them anyplace on paper or on bodily metallic thingies that may be seized. (It is all in my head or in a sequence of textual content paperwork on encrypted disks which solely I understand how to get to.)

What does that assist me if the federal government comes with their cops and beat me up till I decrypt the units and wallets? And even “simply” lock me up till I accomplish that, with out bodily hurting me? I used to be as soon as held hostage by them for under 24 hours, and it felt like 24 years. It was a dwelling nightmare. I’d by no means be capable to endure that perpetually, and who is aware of what they really do to my units whereas I am in there? They may resolve to destroy them if I by no means inform them the way to get to them, thus making them gone for me as nicely.

Possibly your reply might be that they can not learn about all my copies, if maybe I’ve hidden one USB stick inside a wall or dug it down at a selected tree within the woods which solely I learn about. Positive. That is an excellent argument. However nonetheless, in the event that they bodily beat me up, or in any other case know that I’ve the cash and simply will not let me go till I give it to them, how am I going to get out of that? You assume that BS about having had a “boating accident” works in the actual world? No one who goes by this type of bother would truly lose their cash in some “accident”. They don’t seem to be silly.

You needn’t carry up seed phrases. For one factor, I haven’t got any such, however even when I did, I might by no means memorize all that in my head, and I doubt that nearly anybody who claims to have memorized theirs will ever be capable to get their cash again when “all of it hits the fan”. Additionally, they in all probability could have the seed phrase backed up someplace, resembling on a chunk of paper or metallic thingie. Guess what occurs then when the cops come wanting by your stuff?

Lastly, I’d guess that 99% of Bitcoin homeowners both have their cash on an change (thus they’ve zero means to stop direct deposits by the federal government) or utilizing a {hardware} pockets, which, in case you have one, make it apparent that you simply personal some crypto cash, and the entire above applies much more to that scenario.

To me, all of it appears like some type of fantasy that folks hold telling themselves. Please clarify how having Bitcoin is any completely different in follow from having a bunch of gold bars that they will simply steal?

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