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>Police can absolutely seize the physical artifacts on which your wallet resides. They have to find it first, which can be easy or difficult, depending on how
by downandout 9y ago
>Police can absolutely seize the physical artifacts on which your wallet resides.
They have to find it first, which can be easy or difficult, depending on how motivated you are to make it difficult. You can quite easily make it more difficult than it is for them to walk into a bank and say “freeze this account”.
- rufugee 9y agoHonestly not sure why you're being downvoted here. Your point seems reasonable and true based on how easy it is to create a paper wallet and make that paper sheet all but unfindable.
- downandout 9y agoMaybe they’re fans of asset seizures :).
- balls187 9y agoDifficult, but not impossible A US judge ordering a person to turn over their BTC wallet would be check.
- downandout 9y agoYeah, but if they can't get to it before you are aware of what's going on (as is the case with most asset seizures) then you can deal with the situation first. For example, a judge issues an order for you to turn over the private keys, and jails you until you decide to comply. Someone you trust that has access to the private keys transfers funds out of that wallet, then you turn over the private key. You have complied with the order to turn over the keys, and you have deniability ("someone must have seen news of my arrest in the press and broken into my storage shed...the one you guys didn't check...where the keys were stored!").
- balls187 9y agoJudges don't like it when individuals attempt to circumvent their authority.
- downandout 9y agoAnd private citizens don’t like it when judges order their money to be taken without warning or consent. I was just saying that crypto gives people options that might enable them to maintain more control over the situation than they would have if their money is just sitting in a bank.
- balls187 9y agoDo judges seize property without a legal reason? Certainly the police seize property citing dubious reasons, but are there examples of judges seizing financial assets without legal authority to do so? Police can use civil forfeiture to seize property; but can't use civil forfeiture laws to compel you to give up your gmail password. That requires a court order/warrant. Hence the original comment about a judge could compel you into turning over your BTC Wallet.
- downandout 9y agoDo judges seize property without a legal reason? Whether the reason is valid or not doesn’t matter much to the target of such an order. They still lose access to their funds. People who care about that possibility may want to take steps to make it more difficult for someone to do this to them. That’s all I was saying.
- balls187 9y agoOkay, thank you for the clarification, I understand your point better.
- Daishiman 9y agoPrivate citizens aren't above the law, tough guy.
- conanbatt 9y agoThat is fundamentally unenforceable...as much as ordering someone to turn over cash.
- majewsky 9y agoGood to know that civil forfeiture does not exist. /s
- conanbatt 9y agoCivil forfeiture can't confiscate cash they don't know where it is.
- balls187 9y ago> That is fundamentally unenforceable...as much as ordering someone to turn over cash. Defying the courts authority is Contempt of Court. If you fail to comply with a judges order, that can lead to incarceration. Continue to defy, can lead to criminal incarceration.
- conanbatt 9y agoSure but its unenforceable. You can even kill someone but not get their cash/bitcoin.