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> Lots of people get their crypto seized by the government, all the time. At one point the biggest single Bitcoin wallet holders were the FBI and the Bulgarian
by div72 5y ago
> Lots of people get their crypto seized by the government, all the time. At one point the biggest single Bitcoin wallet holders were the FBI and the Bulgarian FBI. It's time to let that narrative go.
Cryptocurrencies are not "backdoored" like the banks as governments cannot order Bitcoin to hand over a specific person's money. While you can bug their keyboards or compromise their OSes etc., the best you can do is a $5 wrench attack if your target is not willing.
- giaour 5y agoDoesn't the lack of a central authority increase the odds that coins, once seized, will be extremely difficult to recover? On par with trying to recover physical cash seized under civil asset forfeiture statutes, at least. I don't have any direct experience here, but my understanding is that bank and credit accounts are typically frozen, not seized, so the process is easier to reverse.