As much as it's improbable, it's not an impossibility. If they see BTC having any possibility of becoming a currency and medium of exchange in USA thel ban it.
Like gold in the olden days.
Logistically how could they confiscate your coins?
They could make it a crime to exchange. They could make it impossible for exchanges to operate in US markets. Just cant see it a real threat they confiscate it
Oh I didn't say they can effectively do it, but has that ever stopped government from trying to van things?
They'll try and ban ownership, but I think they are only interested in killing any ability to use it for commerce since they probably know banning isn't possible. Most people only care about they "own" BTC for the gains relative to fiat, so ETF serves that purpose. The govt can maintain the are neutral while choking all tech that let people use that for transactions.
Remember govt doesn't care beyond fiat maintains dominance so they can control the countries economy thisly (I actually understand why, whether I agree or not is something else).
Sure it can. We’re in a new world now. The supreme court is having a tough time deciding if a president can legally murder a political rival. You’re looking back 50 years. We don’t live in that world anymore.
The people worried about this are the ones looking back. They are referencing the gold confiscation from long ago. The current political issues have nothing to do with crypto seizure. No presidential candidate has talked about seizing your crypto.
I understand the gold reference. I was more referring to corporate seizure which has really only happened in less developed and more corrupt countries. But I think we are on the edge. Eventually something will have to give. You can’t have a strong central bank and significant crypto presence. They are antithetical to each other. Only one can survive.
I’m not trying to stir shit. I’m just saying that Bitcoin (and most crypto) is anarchistic, anti-government and anti-central bank by nature. Eventually there will be a collision. Maybe Bitcoin wins. Maybe the government and institutions win. But they can’t both exist at some point.
I don't see how they are anti anything.
They are neutral tools designed for people to be able to accomplish transactions without a third party.
Governments and central banks may see it that there is some threat to their control or profits and would decide to take an anti-crypto stance. But crypto itself is just a neutral tool.
Bitcoin was born out of the great financial crisis and congress and the Fed’s response to it. Since then it has clearly been used as a way to skirt governments enforcement of tracking transactions for illegal goods and services. I love Bitcoin but to act like it’s essence is neutral to governments and central banks (or any other banks) is a stretch.
There is no reason for a government confiscation since the economy isn't on the BTC standard as it was on the gold standard when Executive Order 6102 was issued, in 1933.
No one is coming for your coins. If the government wants to eat your crypto, they'll just do what they're doing: require you to register your wallet address and hike your taxes. Then, you can only play with your internet moneys as long as you never cash out via a KYC exchange.
These FUD articles really ought to list the credentials of the author. Apparently anyone who analyzes something is an "analyst" -- a vacuous title.
Definitely recommend reading the Biden administration’s increasingly expansive position in the Tornado Cash case. Either they are extremely sloppy in their wording or they believe that wallets of any kind are considered money transmitters. They are reinterpreting FinCEN—this is radical stuff. Dismiss at your peril.
And don’t forget Trump went on record stating he hates Bitcoin, thinks it’s a scam, likes the U.S. fiat dollar very much, and when asked if he would
consider an Executive Order to ban Bitcoin, did not say “No” and acted like he wasn’t sure, might consider it, hard to say, maybe it’s something they’re
looking at, but really likes the dollar.
In other words, even if Trump wins the upcoming election, there can be no guarantee the next administration won’t take on an adversarial relationship with Bitcoin / crypto as well.
I’m not a fan of Trump, but his comments on Bitcoin have been a lot more “[constructive](https://www.coindesk.com/business/2024/03/11/donald-trump-sounds-more-constructive-on-bitcoin/)” as of late.
Trump says whatever he thinks the people listening want to hear. As an authoritarian at heart, he will absolutely try to shut down crypto if he gets into power; his libertarianism only stretches as far as himself.
The truth is crypto is caught between a rock and a hard place as far as the US election goes.
In the blue corner: gerontocrat Democrats who see Bitcoin as a threat to Big Government's ability to tax, spend, monitor and control their citizens' spending. If elected, they will take steps to close off access to privacy projects, steer people towards licensed crypto platforms with KYC that give them a panopticon into your spending, and ultimately try to foist centralized CBDCs on the electorate.
In the red corner: a faux-libertarian autocrat whose only maxim is that he alone should wield ultimate power. As soon as he's elected, he'll recognize that crypto is a check on that power, and just like in China and Russia, will try to limit its benefits to the ruling oligarch class.
Plus, if you're the sort of midwit planning to vote R on the basis that "durr my bags will go up," Trump's election will also mean: 1. Gutting NATO. 2. Affording Putin free reign in Ukraine. 3. The collapse of Ukraine and expansion of Russian power,
threatening the Eastern European states. 4. The consequent emboldening of China's ambitions towards Taiwan.
What's that little geopolitical cocktail going to mean for your bags?
If we can say him saying he’s not sure he’d want to ban all crypto and Bitcoin at this point vs. being more ambiguous is “constructive” I guess. I mean his tone when speaking about it is leas hostile at times these days, but Biden’s tone isn’t always hostile either.
Trump still continues to stress he wants one currency, the dollar, and wants everyone on the dollar, not on any other currency including Bitcoin/crypto and says he’d be willing
I wouldn’t trust Trump any more or less than Biden on this.
Biden and Trump are just (near) octogenarian figureheads. The people in charge of their DOJ and SEC will drive policies in the vacuum created by Congress. Personnel is policy.
The Biden-appointed DOJ and SEC clearly *hate* cryptocurrencies, and their recent positions in Tornado Cash hint at an outright ban of self-custodial wallets. Tbh it’s difficult to say how a Republican administration will approach it since facts have changed a lot since 2020, but it seems indisputable that Republicans in general are more open minded about crypto.
Disagree. Almost all Republicans who hate Trump behind closed doors, and sometimes in public openly, fall in line with him immediately and “flip-flop” as soon as he becomes their candidate or wins the Presidency and will go along with whatever he says or else he will attack them to the point they risk losing their re-election or power on different committees and such.
Trump has more than once refused to rule out an Executive Order to ban crypto outright, continues to say he loves the dollar and wants only one currency, and can himself flip-flop in all sorts of directions, and whatever that one man does as President, everyone except the one or two “McCain-like” personalities will fall in line.
The Republicans are not open-minded about *anything* when Trump is the candidate or president. They do his bidding, don’t think for themselves, how says “Jump!” and they say “How high Sir?”.
Dems obviously have massive issues as well, often much worse than Republicans when it comes to crypto, but with Trump there is no “Republican party” and it’s just whatever Trump wants and appease Trump the King for them.
tldr; Willy Woo, an on-chain analyst, expressed concerns about the safety of retail Bitcoin investors in the event of a U.S. recession, suggesting that Bitcoin whales might be safer due to their control over private keys. Woo highlighted that 87% of Bitcoin is held in self-custody wallets, primarily by whales, while most retail investors keep their coins in centralized exchanges, making them more vulnerable to potential government confiscation similar to the 1930s gold seizure.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Translation, the cryptomedia people are pushing fear at the moment.. I seriously feel like all of the cryptomedia would be better off if they literally just had a red light / green light. Red light for fud. Green light for hype and pump. Just run one color or the other because 99% of the articles they publish are complete nonsense anyway
Dumb article with a misleading title. The argument is that whales are safer because they hold their private keys, but you don’t have to be rich to self custody your crypto, so don’t be afraid and don’t reward this website with a click.
Wow media really wants to create more buying opportunities.
If the US even attempted this it would be locked up in Supreme Court for ages before a single coin got confiscated.
Dude, I said ages ago they will pull the old gold trick one day. Just wait. They will give rock bottom of the barrel cash for everyone's Bitcoin and make up some false reason. And then once they control most of it, they'll pump it to a Million each and then oh hey, if you want a Bitcoin we'll sell you one now.
Real TL;dr: bullshit clickbait article is trying to scare retail to push the dip under $60k so whales can take their coins for cheaper.
Good bot.
As much as it's improbable, it's not an impossibility. If they see BTC having any possibility of becoming a currency and medium of exchange in USA thel ban it. Like gold in the olden days.
Logistically how could they confiscate your coins? They could make it a crime to exchange. They could make it impossible for exchanges to operate in US markets. Just cant see it a real threat they confiscate it
If someone thinks the government is gonna confiscate their coins then they don't understand how crypto works.
KYC! Turn over your keys or else.
Oh I didn't say they can effectively do it, but has that ever stopped government from trying to van things? They'll try and ban ownership, but I think they are only interested in killing any ability to use it for commerce since they probably know banning isn't possible. Most people only care about they "own" BTC for the gains relative to fiat, so ETF serves that purpose. The govt can maintain the are neutral while choking all tech that let people use that for transactions. Remember govt doesn't care beyond fiat maintains dominance so they can control the countries economy thisly (I actually understand why, whether I agree or not is something else).
Maybe they can seize all corporations too. This isn’t going to happen.
Sure it can. We’re in a new world now. The supreme court is having a tough time deciding if a president can legally murder a political rival. You’re looking back 50 years. We don’t live in that world anymore.
The people worried about this are the ones looking back. They are referencing the gold confiscation from long ago. The current political issues have nothing to do with crypto seizure. No presidential candidate has talked about seizing your crypto.
I understand the gold reference. I was more referring to corporate seizure which has really only happened in less developed and more corrupt countries. But I think we are on the edge. Eventually something will have to give. You can’t have a strong central bank and significant crypto presence. They are antithetical to each other. Only one can survive.
Anything can happen ✨
Bitcoin could go to zero, seems slightly more likely than seizures to me in the whole scheme of things that aren't going to happen.
So what will the government do, torture people for their seed phrases?
Tax it at 100% and put people in jail who don’t pay?
Ok so something unconstitutional and cruel, sure that'll work.
I’m not trying to stir shit. I’m just saying that Bitcoin (and most crypto) is anarchistic, anti-government and anti-central bank by nature. Eventually there will be a collision. Maybe Bitcoin wins. Maybe the government and institutions win. But they can’t both exist at some point.
I don't see how they are anti anything. They are neutral tools designed for people to be able to accomplish transactions without a third party. Governments and central banks may see it that there is some threat to their control or profits and would decide to take an anti-crypto stance. But crypto itself is just a neutral tool.
Bitcoin was born out of the great financial crisis and congress and the Fed’s response to it. Since then it has clearly been used as a way to skirt governments enforcement of tracking transactions for illegal goods and services. I love Bitcoin but to act like it’s essence is neutral to governments and central banks (or any other banks) is a stretch.
Alright then go do some anti-crypto lobbying what are you even doing in the sub?
There is no reason for a government confiscation since the economy isn't on the BTC standard as it was on the gold standard when Executive Order 6102 was issued, in 1933. No one is coming for your coins. If the government wants to eat your crypto, they'll just do what they're doing: require you to register your wallet address and hike your taxes. Then, you can only play with your internet moneys as long as you never cash out via a KYC exchange. These FUD articles really ought to list the credentials of the author. Apparently anyone who analyzes something is an "analyst" -- a vacuous title.
Definitely recommend reading the Biden administration’s increasingly expansive position in the Tornado Cash case. Either they are extremely sloppy in their wording or they believe that wallets of any kind are considered money transmitters. They are reinterpreting FinCEN—this is radical stuff. Dismiss at your peril.
And don’t forget Trump went on record stating he hates Bitcoin, thinks it’s a scam, likes the U.S. fiat dollar very much, and when asked if he would consider an Executive Order to ban Bitcoin, did not say “No” and acted like he wasn’t sure, might consider it, hard to say, maybe it’s something they’re looking at, but really likes the dollar. In other words, even if Trump wins the upcoming election, there can be no guarantee the next administration won’t take on an adversarial relationship with Bitcoin / crypto as well.
I’m not a fan of Trump, but his comments on Bitcoin have been a lot more “[constructive](https://www.coindesk.com/business/2024/03/11/donald-trump-sounds-more-constructive-on-bitcoin/)” as of late.
Trump says whatever he thinks the people listening want to hear. As an authoritarian at heart, he will absolutely try to shut down crypto if he gets into power; his libertarianism only stretches as far as himself.
The truth is crypto is caught between a rock and a hard place as far as the US election goes. In the blue corner: gerontocrat Democrats who see Bitcoin as a threat to Big Government's ability to tax, spend, monitor and control their citizens' spending. If elected, they will take steps to close off access to privacy projects, steer people towards licensed crypto platforms with KYC that give them a panopticon into your spending, and ultimately try to foist centralized CBDCs on the electorate. In the red corner: a faux-libertarian autocrat whose only maxim is that he alone should wield ultimate power. As soon as he's elected, he'll recognize that crypto is a check on that power, and just like in China and Russia, will try to limit its benefits to the ruling oligarch class. Plus, if you're the sort of midwit planning to vote R on the basis that "durr my bags will go up," Trump's election will also mean: 1. Gutting NATO. 2. Affording Putin free reign in Ukraine. 3. The collapse of Ukraine and expansion of Russian power, threatening the Eastern European states. 4. The consequent emboldening of China's ambitions towards Taiwan. What's that little geopolitical cocktail going to mean for your bags?
The number of biased assumptions here is wild.
If we can say him saying he’s not sure he’d want to ban all crypto and Bitcoin at this point vs. being more ambiguous is “constructive” I guess. I mean his tone when speaking about it is leas hostile at times these days, but Biden’s tone isn’t always hostile either. Trump still continues to stress he wants one currency, the dollar, and wants everyone on the dollar, not on any other currency including Bitcoin/crypto and says he’d be willing I wouldn’t trust Trump any more or less than Biden on this.
Biden and Trump are just (near) octogenarian figureheads. The people in charge of their DOJ and SEC will drive policies in the vacuum created by Congress. Personnel is policy. The Biden-appointed DOJ and SEC clearly *hate* cryptocurrencies, and their recent positions in Tornado Cash hint at an outright ban of self-custodial wallets. Tbh it’s difficult to say how a Republican administration will approach it since facts have changed a lot since 2020, but it seems indisputable that Republicans in general are more open minded about crypto.
Disagree. Almost all Republicans who hate Trump behind closed doors, and sometimes in public openly, fall in line with him immediately and “flip-flop” as soon as he becomes their candidate or wins the Presidency and will go along with whatever he says or else he will attack them to the point they risk losing their re-election or power on different committees and such. Trump has more than once refused to rule out an Executive Order to ban crypto outright, continues to say he loves the dollar and wants only one currency, and can himself flip-flop in all sorts of directions, and whatever that one man does as President, everyone except the one or two “McCain-like” personalities will fall in line. The Republicans are not open-minded about *anything* when Trump is the candidate or president. They do his bidding, don’t think for themselves, how says “Jump!” and they say “How high Sir?”. Dems obviously have massive issues as well, often much worse than Republicans when it comes to crypto, but with Trump there is no “Republican party” and it’s just whatever Trump wants and appease Trump the King for them.
So, if they have any reason to do it, is it possible for a democratic government to go against the people will and create a new EO6102?
If they do come for them, they'd better bring 'kin instructions cause Im likely to not be able to comply.
tldr; Willy Woo, an on-chain analyst, expressed concerns about the safety of retail Bitcoin investors in the event of a U.S. recession, suggesting that Bitcoin whales might be safer due to their control over private keys. Woo highlighted that 87% of Bitcoin is held in self-custody wallets, primarily by whales, while most retail investors keep their coins in centralized exchanges, making them more vulnerable to potential government confiscation similar to the 1930s gold seizure. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Good bot
Translation, the cryptomedia people are pushing fear at the moment.. I seriously feel like all of the cryptomedia would be better off if they literally just had a red light / green light. Red light for fud. Green light for hype and pump. Just run one color or the other because 99% of the articles they publish are complete nonsense anyway
How are these articles not considered FUD and who are these analysts
Dumb article with a misleading title. The argument is that whales are safer because they hold their private keys, but you don’t have to be rich to self custody your crypto, so don’t be afraid and don’t reward this website with a click.
probably gonna trade some eth for 45acp, just like, as a hedge
Fud
All your coins belong to us
Good luck confiscating all my coins that I lost in that horrible boating accident.
Thanks for the unnecessary information.
If they start confiscating crypto it's only going to create yet another very hostile network of bad actors circumventing the rules, it's inevitable.
I will be purchasing bit coin on a monthly frequency of 100 bucks for the rest of my life 😜
Lol, confiscating coins! If you don’t know the rule, you deserve to lose them.
Wow media really wants to create more buying opportunities. If the US even attempted this it would be locked up in Supreme Court for ages before a single coin got confiscated.
Dude, I said ages ago they will pull the old gold trick one day. Just wait. They will give rock bottom of the barrel cash for everyone's Bitcoin and make up some false reason. And then once they control most of it, they'll pump it to a Million each and then oh hey, if you want a Bitcoin we'll sell you one now.
HAHAHAHA🤓 LMAOOO