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Pretty much this. It's also the reason why I believe cryptocurrencies will continue to do well in the coming years -- there's a need for a state independent sto
by charlesdm 9y ago
Pretty much this. It's also the reason why I believe cryptocurrencies will continue to do well in the coming years -- there's a need for a state independent store of wealth.
- dazc 9y agoThe advantage of property being it will always be worth something.
- roywiggins 9y ago> it will always be worth something Assuming a sufficiently friendly state apparatus that enforces the ordinary claims of ownership. If that goes away, or is turned against you, it's not yours anymore. With stuff like real estate, you can't exactly smuggle it out of the country. (This is what the Global Magnitsky Act and international equivalents are meant to do- having your personal assets frozen by the US or UK government suddenly makes your frozen assets somewhat less valuable to you...)
- charlesdm 9y agoSure, if it doesn't end up being confiscated.
- jonknee 9y agoIt's much easier for a state to seize your cryptocurrency key than foreign real estate. There's a whole system of law protecting your NYC penthouse, but a couple of goons and a hammer can take all your BTC (without any way to reverse it!).
- charlesdm 9y agoThe penthouse, yes. But not the shares of your offshore shell corporation owning the property, which can easily be transferred through a simple share purchase agreement..
- gambiting 9y agoThe whole point of doing this is that no one knows you own property in London. If you keep 130 million dollars worth of bitcoin in your wallet literally anyone can see it.