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I'm not sure where the unseizable NFT assets fits in. If you own anything physical or store digital data that's tied to an NFT, it can be repossessed by governm
by jadbox 4y ago
I'm not sure where the unseizable NFT assets fits in. If you own anything physical or store digital data that's tied to an NFT, it can be repossessed by government or some financial institution.
The only real merit is storing value in strictly a stable currency (like USDC) and holding the private key in a secure, hidden location. Even then, if there's any traces (bank routing) to that wallet address, the government or some other institution can legally press to take ownership.
As someone that's been in the crypto scene a very long time, I've come to the conclusion that there's no real alternative to local and federal political involvement to secure a fair economy. Crypto will not save you if politics (or a hostile mega corporation) turn against you.
Another thought experiment is what if a billionaire decides to hide all their money in crypto to avoid taxes or asset seizing?
- davidw 4y ago> local and federal political involvement to secure a fair economy That seems a lot more important in any case, in that fancy digital assets aren't going to prevent the atrocities mentioned in the beginning of the article.
- LadyCailin 4y agoIf the government is willing to kill 1.5 million people, storing your assets in NFTs is not particularly useful, and anyways assets are low on your list of concerns anyways.