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This is the equivalent of gold confiscation. But because the government doesn’t really care about confiscating your bitcoins, they can just “force” exchanges t
by insert_coin 5y ago
This is the equivalent of gold confiscation.
But because the government doesn’t really care about confiscating your bitcoins, they can just “force” exchanges to fail and “destroy” their monetary value for their citizens that way.
If you think just because you own bitcoin you are safe from government actions when shtf this should make you reconsider.
Exchanges failing is the equivalent of gold confiscation for a digital fiat currency like bitcoin.
- noxer 5y ago>This is the equivalent of gold confiscation. no. just no. its absolutely not.
- insert_coin 5y ago> no. just no. its absolutely not. Denial, great argument.
- noxer 5y agoNot denial its objectively nonsense. There was no collecting of crypto or something the like. Its not illegal to have or sell. Exchange are still available. They banned its use as payment (the average holder does not use it for payment). The ban is nonsense ofc but its not what you suggest it is at all. The fact that some local probably mismanaged exchange goes bankrupt after many people panic withdraw does not support you idea either.