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imo people who understand bitcoin and its purpose don’t want government to buy it for strategic reserve. That said if you hold your own keys then bitcoin protec

• _heimdall 2y ago
  Holding your own keys would help avoid seizure, but assuming the state already has enough access to reliably track the current owner of any btc they could still come after you regardless of where the keys are. They also could prevent you from using the btc in any non-private transaction. Companies are required to know their customers, it wouldn't be hard for them to be forced to block specific bitcoin hashes. You could still trade it privately, but it would effectively be gray money and should be worth less.
  • andirk 2y ago
    Interesting scenario. If a government can tie a specific person to a specific wallet, they don't need the keys to go forward with whatever they want to do with that info. I wonder if the FBI can proclaim a certain wallet is yours and you did some bad thing so you have to surrender those coins. Without the private key, they can't forcefully confiscate your coins. But I wonder if they can say "If any coins leave that wallet, we'll take retaliatory action!".
    • _heimdall 2y ago
      I would expect that a scenario where they could legally confiscate your coins is also a scenario where they could legally arrest and charge you with a crime. Confiscation of money is likely the least of your concerns there. The government could gain valuable intel from bitcoin addresses all the way back to the Mt Gox scandal. They would have only gotten more access since then, especially with legitimate businesses operating as exchanges that follow KYC regulations.