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You are wrong and overly pessimistic. Look at DPR. The govt confiscated 174k BTC, but he supposedly has another (encrypted) ~500k BTC wallet, and he is NOT/will

• grey-area 13y ago
  The govt confiscated 174k BTC, but he supposedly has another (encrypted) ~500k BTC wallet If he does I'd be very surprised if he can ever spend it, even if he does somehow get to a copy. Torture is not the only or most effective avenue to thwart encryption or your plans to keep money from them, they could claim enough back-taxes to bankrupt you, repossess anything you buy etc, etc.
  • mrb 13y ago
    Of course an oppressive government has many options to attack an individual, but Bitcoin enables individuals to protect themselves. For example a political refugee can flee his country with bitcoins in his head (brainwallet) which would be a lot safer than fleeing with cash in his pockets. You also have scenarios that are not as drastic, where the adversary is not a government but, for example, a powerful (ex-)spouse trying to seize some of the assets in illegal ways during a divorce going wrong. Etc. Your refusal to acknowledge this usefulness of Bitcoin makes your criticism look weak and one-sided.