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This article is about unseizable digital property, which is an important distinction. I'm curious if he thinks his "unseizable" digital assets will be worth an

This article is about unseizable digital property, which is an important distinction. I'm curious if he thinks his "unseizable" digital assets will be worth anything in the event where the US is illegally seizing assets from citizens (which seems to be his reason for "investing" so heavily in digital assets - due to past family history). In an event like that, I'd much rather have food and fresh water supplies than some NFTs.

chongli 4y ago
If the government is illegally seizing your assets, sue them. Should be an open-and-shut case because it’s illegal. The real problem is when the government legalizes the procedure and uses it to seize assets. This happens all the time [1]. [1] https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United_States https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United...
junofan 4y ago
Huh, didn’t we do it to ethnic Japanese within living memory regardless of citizenship?
km3r 4y ago
I think thats an issue with crypto in general. The use cases of times where a bank fails and FDIC insurance doesn't work is a time where digital money is going to have little use. Now if you decide to trust a central entity just a tiny amount, all other forms of digital currency win out in countless ways.
- notch898a 4y ago
  Collapse of US economies and banks would be devastating worldwide, but doesn't mean crypto would be worthless throughout the entire world. Our borders are large and porous and undefendable; one could escape and spend them elsewhere.
  - km3r 4y ago
    What situation would the US collapse not be the biggest global catastrophe since WW2? No matter where you escape everything is collapsing at that point. All though, to be clear, I think the risk of a collapse isn't worth worrying about. It's like prepping for a nuclear war. The chances of happening are tiny and the chances of surviving are even smaller.
    - notch898a 4y ago
      Imagine you're a disgraced german soldier at the end of WWII, Would you rather be holding Reichsmark or gold when you take the ratlines to South America? Even in a collapse there is value in having something value dense you can use in the least collapsed of your options. Of course gold is still a great option, the most obvious disadvantage is it can be physically seized at the border.
      - maxerickson 4y ago
        In a scenario where the US economy has actually collapsed, gold is unlikely to be widely valued.

chongli 4y ago

If the government is illegally seizing your assets, sue them. Should be an open-and-shut case because it’s illegal. The real problem is when the government legalizes the procedure and uses it to seize assets. This happens all the time [1]. [1] https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United_States https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United...

junofan 4y ago

Huh, didn’t we do it to ethnic Japanese within living memory regardless of citizenship?

km3r 4y ago

I think thats an issue with crypto in general. The use cases of times where a bank fails and FDIC insurance doesn't work is a time where digital money is going to have little use. Now if you decide to trust a central entity just a tiny amount, all other forms of digital currency win out in countless ways.

notch898a 4y ago
Collapse of US economies and banks would be devastating worldwide, but doesn't mean crypto would be worthless throughout the entire world. Our borders are large and porous and undefendable; one could escape and spend them elsewhere.
- km3r 4y ago
  What situation would the US collapse not be the biggest global catastrophe since WW2? No matter where you escape everything is collapsing at that point. All though, to be clear, I think the risk of a collapse isn't worth worrying about. It's like prepping for a nuclear war. The chances of happening are tiny and the chances of surviving are even smaller.
  - notch898a 4y ago
    Imagine you're a disgraced german soldier at the end of WWII, Would you rather be holding Reichsmark or gold when you take the ratlines to South America? Even in a collapse there is value in having something value dense you can use in the least collapsed of your options. Of course gold is still a great option, the most obvious disadvantage is it can be physically seized at the border.
    - maxerickson 4y ago
      In a scenario where the US economy has actually collapsed, gold is unlikely to be widely valued.