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A home can be searched and caches found. A foreign account is difficult to open. It's not hard to see why bitcoin has its appeal, no?
by freeloop3 9y ago
A home can be searched and caches found. A foreign account is difficult to open.
It's not hard to see why bitcoin has its appeal, no?
- dragonwriter 9y ago> It's not hard to see why bitcoin has its appeal, no? Since I gave the reason (added difficulty in detection, not confiscation) upthread, no, it's not hard to see why it has appeal compared to foreign currency for non-current savings (if you are spending in the domestic economy, which is observable by the authorities, the advantage of Bitcoin is mitigated) under certain threat models.
- Retric 9y agoActually yes it is. Physical currency inside a country is hardly the same things as Physical or digital currency outside a country. Having bitcoins (etc) inside a country is arguably less secure and far easier to confiscate.
- freeloop3 9y agoYou'll have to explain digital currency "inside" vs "outside" a country... XD
- Retric 9y agoA bank in North Korea is under the complete control of North Korea, a bank in the Cayman Islands is not. Now if you're trying to hide from the United States government then you don't have a huge number of options. But, no government controls all banking.