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While it's not wrong that there are other options for storing wealth, crypto is the first one that is easily transferable across borders and thus far has shown
by zepolen 5y ago
While it's not wrong that there are other options for storing wealth, crypto is the first one that is easily transferable across borders and thus far has shown to be resilient at not being controllable by government.
Multiple attempts have been made over a decade to control crypto. The most recent China banning miners for example showed that crypto just adapts and overcomes.
This of course is scary for the people who used to have complete control over money, and even more so for countries that can no longer control their citizens by seizing their assets.
- lottin 5y agoGovernments continue to be able to seize assets, I don't know where you get the impression that they no longer are.
- zepolen 5y agoThey can't seize crypto.
- lottin 5y agoCrypto is tiny proportion of your assets. Even in the most favourable scenario, where you own nothing but crypto, you're still vulnerable because you have a physical body. The simple fact is that crypto does nothing to hinder the government's ability to control citizens.
- dibdobdot 5y agoThat’s 100% false. https://www.cnbc.com/2021/08/04/irs-has-seized-1point2-billion-worth-of-cryptocurrency-this-year-.html https://www.cnbc.com/2021/08/04/irs-has-seized-1point2-billi...
- zepolen 5y agoOk let me rephrase, they can't seize crypto from competent people.