You are viewing a single comment's thread from:

RE: Regulating Cryptocurrencies... And Why It Matters

in #bitcoin7 years ago

To those two features you mention about Bitcoin I would add a third: Real ownership.
Bitcoin can't be frozen or seized. If you own it, you own it.
May be that's the best defense against bad laws.
Good laws > No laws > Bad laws

Sort:  

"Bitcoin can't be frozen or seized."

Given the authority, I can indefinitely freeze all BTC, even seize much of it. In fact, I can get folks to demand I seize substantial portions of their BTC holdings.

All I have to do is turn off the power. Even less direct mechanisms abound, although that is the simplest.

It is trivial to seize and freeze BTC, given political will.

Actually @angelicawtfn, bitcoin can be seized if they get you to give them your key which we might see court order people to do OR one is on a centralized exchange.

Authorities around the world have seized bitcoin.