Out of curiosity, how would governments know how much your holdings are in your crypto currency wallet was?
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Out of curiosity, how would governments know how much your holdings are in your crypto currency wallet was?
Exactly, this is why this will likely not pass. The technology they'd need in order to enforce this to even identify a hardware wallet, let alone the training to teach them how to use it, it's just too much effort... hopefully.
Ok. That's what I figured. Again, I'm new to cryptocurrency, and you mentioned a hardware wallet a few days ago and that was the first time I'd ever heard of that. Maybe Ill get one once I make more money on steem. ;)
Here's a great hardware option: https://steemit.com/bitcoin/@avva/get-your-safe-true-2fa-hardware-wallet-now-coolwallet-usd119-shipping-to-us-shipping-is-estimated-august-10th
Thank you @avva
@vegetarianbaker I was a vegetarian for 9/10 years of my life. I'm not at the moment, but I am very much into organics. I will be following you to see what insights you have into current vegan life and maybe one day I shall return.
Add to that, with Devices like a Trezor, you can make a sort of hidden wallet. Keep your main stash there, and a tiny stash on the main wallet - if asked to show the wallet contents, just show the small wallet.
I doubt this will pass. I'm confident Rand Paul and others wont let this happen. Trump has some pro-bitcoin people in his cabinet.
Drumpf has mainly former Goldman-Sachs people in his cabinet, and "Neo-Conservatives".
Doesn't mean they aren't pro-bitcoin.
They know that if Non-sovereign, safe and not inflationary currencies prevail, their business model will not be as successful.
They rely on free cash like they got in the bailouts.
They also have stocks of the Federal Reserve.
So yes, it means they are anti-bitcoin.
I just moved my entire balance from an online wallet (except some spending money) to electrum with a Trezor hard wallet key. Feeling better about Aug 1 and the probability of govt. capital controls. Thanks for the update. :-)
They would only know if you have it with you. Then they would demand that you open your wallet to prove to amount.
Gotcha. I thought they mostly looked like external hard drives.
Most cryptos are easily traceable. All transactions are public, and you often become identifiable at the point of contact with a financial institution (such as a Bitcoin exchange).
There are cryptos which are harder to trace, but Steem for example is probably the easiest. Loads of us attach our names and faces to our accounts here, and you can see anyones wallet balance just by going to their page.
Speaking of harder to trace.. Check out my blog on Monero: https://steemit.com/bitcoin/@avva/i-m-in-lub-again-and-don-t-know-why-their-name-is-monero
Awesome, followed you.
I was beginning to wonder if I might be the only Monero fan (2nd to BitShares) on Steem. The absence a Monero/XMR tag in the sidebar was somewhat surpising.
Just like they know with pretty good certainty who is plotting to commit a violent act and who doesn't.
It's not perfect but the people at the border control are professional lie detectors and will spot it if you are lying and just won't let you in until you tell them the truth and prove it.
Unlike them, most people are not professional liers. As a result, mostly honest people will suffer.
Ok gotcha. I'm no where near 10,000$ worth of a crypto currency, but Ill keep it in mind next time i've traveling.