There are two flaws in crypto you will never get around and governments after some hard lessons like this one will learn to take advantage of them.
#1 - If they raid your fucking house physically they can and will seize control of your wallet from your own equipment. They will seize your bitcoins and use them as they see fit. You won't stop them because you will be in cuffs or dead. If they for some reason like a password can't get access you will sit in solitary for the next decade until you give the password to them etc etc. Just like cash, gold, silver, artwork, etc, etc... they can and will just steal it from you. Go ask the 1930s Jews.
#2 - While it is true they can NOT control this type of currency or transactions in it easily they CAN control exchanging it to and from fiat currency. This gives governments far more power than you might think and in the long run unless our economies go through a very VERY radical change in the near future governments will restructure their fiat systems to corrupt, control, or flat out destroy all crypto. I'm betting they supplant and control it so it will be just another tool to fuck us over with.
All the OP proves is crypto has a sharp learning curve. Once they overcome that they will write laws and design systems to put it in its proper place, under their control. Nothing you or I do or say can stop that... except fixing our governments. New money systems fixes a symptom. It doesn't cure the problem... out of control government.
#1 isn’t a problem when you use full disk encryption with a strong password.
#2 isn’t a problem once debt based fiat currencies implode. Given that inflation is a feature and not a bug, that day will inevitably come.
There are two flaws in crypto you will never get around and governments after some hard lessons like this one will learn to take advantage of them.
#1 - If they raid your fucking house physically they can and will seize control of your wallet from your own equipment. They will seize your bitcoins and use them as they see fit. You won't stop them because you will be in cuffs or dead. If they for some reason like a password can't get access you will sit in solitary for the next decade until you give the password to them etc etc. Just like cash, gold, silver, artwork, etc, etc... they can and will just steal it from you. Go ask the 1930s Jews.
#2 - While it is true they can NOT control this type of currency or transactions in it easily they CAN control exchanging it to and from fiat currency. This gives governments far more power than you might think and in the long run unless our economies go through a very VERY radical change in the near future governments will restructure their fiat systems to corrupt, control, or flat out destroy all crypto. I'm betting they supplant and control it so it will be just another tool to fuck us over with.
All the OP proves is crypto has a sharp learning curve. Once they overcome that they will write laws and design systems to put it in its proper place, under their control. Nothing you or I do or say can stop that... except fixing our governments. New money systems fixes a symptom. It doesn't cure the problem... out of control government.
I'm not dooming I'm just speaking truth.
#1 isn’t a problem when you use full disk encryption with a strong password. #2 isn’t a problem once debt based fiat currencies implode. Given that inflation is a feature and not a bug, that day will inevitably come.