Seizing BTC wallet holders? Governments should be afraid to do it - page 3.

Rassah

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Quote from: ElectricMucus on August 25, 2013, 07:02:25 PM

A brain wallet is pretty much useless if the Blockchain is declared illegal information. That's even the most likely scenario of a goverment crackdown - CP links encoded into it ring a bell?

Blockchain stored in nations where it's not illegal, everyone else uses it the same way Bitcoin Wallet for Android does it, where it only requests balances and relevant info for the addresses it's keeping track of. No need to keep copies of the illegal information. Done.

Besides, it would be pretty baseless to make something like an accounting ledger illegal.

malevolent

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That's only assuming the government could find out who stores their funds in a brainwallet.

Quote from: Carlton Banks on August 25, 2013, 05:11:45 PM

Paper wallets are more vulnerable to confiscation than encrypted software wallets. Unless the paper-based key is written in an encoded way. Brainwallet is likely easier tbh.

You can also use steganography/deniable encryption.

greyhawk

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Quote from: Carlton Banks on August 25, 2013, 04:58:08 PM

Brain wallet holders will render it useless.

huadylmate

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Quote from: tclo on August 26, 2013, 04:49:33 AM

Quote from: Carlton Banks on August 25, 2013, 05:11:45 PM

Quote from: huadylmate on August 25, 2013, 05:05:35 PM

You scared me. I have to encrypt private keys on my paper wallet then

Paper wallets are more vulnerable to confiscation than encrypted software wallets. Unless the paper-based key is written in an encoded way. Brainwallet is likely easier tbh.

Yes that's what I say. Encrypted software wallet is the way to go because you can duplicate easily, upload to the cloud, have a friend hold it, bury a flash drive in the backyard, etc, etc.

I know, but you need to share the password with others. If only with your wife then you both can die in car accident, leaving your children without BTC Sad

tclo

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Quote from: Carlton Banks on August 25, 2013, 05:11:45 PM

Quote from: huadylmate on August 25, 2013, 05:05:35 PM

You scared me. I have to encrypt private keys on my paper wallet then

Paper wallets are more vulnerable to confiscation than encrypted software wallets. Unless the paper-based key is written in an encoded way. Brainwallet is likely easier tbh.

Yes that's what I say. Encrypted software wallet is the way to go because you can duplicate easily, upload to the cloud, have a friend hold it, bury a flash drive in the backyard, etc, etc.

ElectricMucus

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Marketing manager - GO MP

A brain wallet is pretty much useless if the Blockchain is declared illegal information. That's even the most likely scenario of a goverment crackdown - CP links encoded into it ring a bell?

Carlton Banks

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Quote from: huadylmate on August 25, 2013, 05:05:35 PM

You scared me. I have to encrypt private keys on my paper wallet then

Paper wallets are more vulnerable to confiscation than encrypted software wallets. Unless the paper-based key is written in an encoded way. Brainwallet is likely easier tbh.

huadylmate

full member

Activity: 215

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You scared me. I have to encrypt private keys on my paper wallet then

Carlton Banks

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Brain wallet holders will render it useless. Any crack down on miners or wallet holders will always yield this issue in some proportion of the arrests. Could this be why we haven't seen such action: fear of publicity for the currency that cannot be confiscated? NSA know who the likely BTC holders are, most of us have exposed our involvement one way or another since 2009. Where's the Liberty Reserve factor? Still building a case? (lol)

Topic: Seizing BTC wallet holders? Governments should be afraid to do it - page 3. (Read 5246 times)