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One more reason we need cryptocurrency. Asset forfeiture is incentive for the police to steal. Given the wrong incentives, even to the best of people, you will

One more reason we need cryptocurrency. Asset forfeiture is incentive for the police to steal. Given the wrong incentives, even to the best of people, you will get the wrong outcome.

lawn 9y ago
You're getting downvoted but you have a good point. You can seize cryptocurrencies as well but it will be harder to force someone to give up their password/pin. If they even manage to find your wallet which is much easier to hide than a stack of 92k cash.
- squegles 9y ago
  If they manage to 'seize' your encrypted wallet, you can restore your backup on another device and move your crypto elsewhere.
  - sjy 9y ago
    The FBI transfers seized cryptocurrency to its own wallet to prevent this: https://www.wired.com/2013/12/fbi_wallet/ https://www.wired.com/2013/12/fbi_wallet/
    - lawn 9y ago
      They would need to break your encryption first.
warrenm 9y ago
Scheier just had a post on why "Cryptocurrency" is a stupid name - https://www.schneier.com/blog/archives/2017/12/crypto_is_being.html https://www.schneier.com/blog/archives/2017/12/crypto_is_bei...