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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.
I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

I don't think they can do that at all because one of the motives behind the creation of Bitcoin was to gain one's economic freedom. Because the matter is online and it is difficult to trace the owner of the wallet by tracking the transaction only through the wallet address. And if it can do that, people's trust will go away from Bitcoin. If the government closes the centralize exchanges, then if people build a peer to peer community among themselves, then the work will continue even after the ban or seize. However, developed countries like the USA can use their technology to stop the use of bitcoins even if they cannot seize their owners.

Quote from: drwhobox on April 10, 2023, 06:17:53 PM

People who keep their crypto in exchange and online wallets will lose their assets and the government can control their accounts or can seize them if they want. So that is why you don't store your crypto currency and bitcoin in an online wallet or exchange.

If the centralized exchanger is in that country or can be controlled by the regulator of that country, then the user's funds will be seized.

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The beauty of bitcoin is that you, only you can control them if you store them on a hard wallet or non-custodial wallet. So keep your assets where you can control them.

If this happens is really going to happened ever then non-custodial online wallet will be the option for holding bitcoins because if you use hardware wallet for holding on that time then at first you have to buy hardware and where from you buy that product there can be a option of tracking to you and at the end you will be seize

Mr.suevie

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Quote from: m2017 on April 10, 2023, 10:55:50 AM

The US government doesn't need to take away your crypto assets, because it can make you run to hand over cryptocurrencies yourself. This is done very simply: it is enough to pass a law that for the storage or use of crypto huge prison terms are introduced.

They may not find you, but you won’t be able to use crypto either, because everyone around you will also be afraid to do it. Then what's the point of crypto assets?

This is the worst scenario, but most likely, governments will take the path of levying taxes on transactions with cryptocurrencies. That is, one way or another, this area will be regulated. The question to what extent remains relevant.

The good news is that regulation in different countries will proceed at different speeds, which means that there will always be the possibility of moving to a place where conditions are more loyal to crypto. I assume that there will be countries friendly to cryptocurrencies, which means that if the US government decides to take away your crypto, then it will be enough to leave this country.

funny right but it's the truth, imagine people leaving their country to other crypto friendly country just for them to have such freedom when using or transacting their coins I think if this kind of law is done anywhere especially in the USA the first place most crypto users would visit would be El Salvador as crypto is welcomed with open arms there. But I doubt this kind of law would be inarted by any country because this law would accompany great loses for both the government and the citizens.

drwhobox

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People who keep their crypto in exchange and online wallets will lose their assets and the government can control their accounts or can seize them if they want. So that is why you don't store your crypto currency and bitcoin in an online wallet or exchange.

The beauty of bitcoin is that you, only you can control them if you store them on a hard wallet or non-custodial wallet. So keep your assets where you can control them.

yhiaali3

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It is difficult for governments to take such a decision because it is difficult to implement on the ground on the one hand, and on the other hand, it will lead people to hide all their crypto assets, in addition to the possibility of emigrating these people from countries that are trying to steal their crypto assets, and this could cause an economic disaster for the country because it It will lead to huge capital migration abroad.

A scenario that seems very difficult, but in the event of such an assumption, the only solution is either to hide the crypto assets completely from the eyes of the government, and the other option is to migrate to another country that is more open to cryptocurrencies.

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

The US government was able to seize all the gold own by it's citizens back then in 1900s simply because gold is physical, can be touch and feel unlike Bitcoin that is digital, decentralized and can't be traced with the help of "mixers", because what O.P fails to reason is that what if unfortunately, such happens to take place, how will the government know how many citizens who own BTC and how many BTC do they own? Because with the help of cold wallets, it's likely impossible for any government to know how much funds people own in crypto, of which its best option will be to tax exchanges who does business with it's citizens.

tjtonmoy

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They can't fully do it. Only if you choose the right one. By that, I mean Bitcoin. It is decentralized and if you keep them in your personal wallet, no one can take it from you. The Government can only have control over those cryptos which are centralized shit. I have never heard any news on Government taking control over Bitcoin, which has been kept private in personal wallets.
So they will fail over and over again if they try to do it.
This is the reason everyone is always saying, not your key, not your coin. Keep them the way they are meant to be. No one will ever have control over them except for you.

Nwada001

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Do they really need to find a way to pass any bills that will allow them to take over private property?
The government is already in one way or another in control of our lives, properties, and belongings; there's just a little something holding them down, and that something isn't the law because they are the law themselves.
All they need is a reason to do something, and they will just do it.

We are never free from government attack and suppression, which is why the only way out is a decentralized system where you are the only one with rights over your properties (funds). This is another reason why they are against the crypto community: they are depriving them of a lot of things and taking things out of their control.

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Quote from: famososMuertos on April 10, 2023, 01:19:10 PM

Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

I don't know if you have the current source, because that's not new news, on the other hand there will always be a satoshi for the people, (maybe forever!)

Then, you using the adjective, phrases, words: seize + US government + private property, it is tabloid news and add you "What if the governments across the world attempted to seize all of your crypto assets," come on!
It's "straw," You are creating fake opinion matrices in the possibility of..."guess".

Maybe he was just trying to cite some scenarios; quite ringing a point on my end since there are issues right now concerning downfall of banks and fiat, so maybe he's just worried. But to answer and support factual claim, it would be impossible for governments to seize crypto assets or holdings because in the first place, things are decentralized, unless they'd use force but that would consume most of their time. Also with the comparison of what happened before in 1900s, gold is tangible and is something which could really be confiscated or seized and it happened that cryptos are not. They may only restrict its usage but won't be able to gain the possession.

Aanuoluwatofunmi

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s.

This is not possible because you're not using a centralized exchange wallet, if you're using a centralized exchange wallet then you have this risk on loosing your asset because it does not belong to you yet as long as you're not having the keys in your hands, we cannot compare using a decentralized asset from a centralized exchange because the difference is clear, bitcoin is a decentralized digital currency unlike gold or other physical asset.

famososMuertos

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

I don't know if you have the current source, because that's not new news, on the other hand there will always be a satoshi for the people, (maybe forever!)

Then, you using the adjective, phrases, words: seize + US government + private property, it is tabloid news and add you "What if the governments across the world attempted to seize all of your crypto assets," come on!
It's "straw," You are creating fake opinion matrices in the possibility of..."guess".

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I don't think it's going to happen but the government has some control over it and they could just regulate new ones with the rules set or stricter about crypto custody but for those who have assets on centralized exchanges whereas if we store in non-custodial wallets then it's possible the government will have a hard time taking those bitcoins so it's not advisable to store them on an exchange in fact it will be a problem later on.

But I don't think this will happen in some countries, because a country that is strict they will definitely impose this kind of regulation but for small countries it won't happen because my assumption is that countries are at peace with bitcoin then it will be fine not to emphasize bitcoin users.

Quote from: m2017 on April 10, 2023, 10:55:50 AM

This is the worst scenario, but most likely, governments will take the path of levying taxes on transactions with cryptocurrencies. That is, one way or another, this area will be regulated. The question to what extent remains relevant.

My country has stipulated this where every crypto transaction on a centralized exchange will be taxed and this has been going on for some time, but they are still happy with the regulations where crypto users are now required to pay taxes.
Of course this is still relevant and does not contradict anymore.

kamvreto

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The period of the revolutionary world which is only in favor of the government's own profits, not the profits of crypto users. If everyone wants to seize crypto assets and wants to fully control them, then there is nothing to look forward to, but is it even possible? crypto is decentralized and no one can control it unless you deposit it to CEX and it will become theirs completely and may be seized by force. When we stay away from centralization then no one will be able to reach.

Fullcoinese

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the situation would probably be too complicated. a government that takes Bitcoin assets owned by every citizen, what is the government's goal? there would be more citizens leaving the government with such policies. and move to a country that is friendly to Bitcoin. where they can safely store and use Bitcoin.
I guess the situation will be like that. because some countries are now starting to open up with Bitcoin regulations in their countries. it relates to the placement of tax rates for holding and trading crypto assets.

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If you're lowkey and someone who just pretends to know nothing about bitcoin and assets then they'll not be able to include you if that happens for real. But when you're into those services and asked for your KYC and you obliged, well, if the government requires them to send them all of the data that they have and if they're under the jurisdiction of any government that tries to seize all of crypto assets then you have no choice but you're also under their list and might just knock on your door. But realistically speaking, this is possible and there will be ways for the government to know and track if anyone owns it but isn't that government is like a communism, right?

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

Then I would laugh and laugh until I could not laugh anymore. How exactly are they going to seize my wallet if the seed phrase is in my head? Will they torture me? Threaten me with prison? How will they even be able to connect my wallet to me? I may have lost all my Bitcoin the day before in a boating accident. Grin

The government cannot do anything and will not do anything. If it was possible to take away my Bitcoin without my consent, countries like China would have long since confiscated their citizens Bitcoin without as much as a word.

If the government tries to steal my physical property, there will be war...

KiaKia

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It is only on centralized exchanges that the government can gain control over your digital assets, so it is best to keep your digital assets in a noncustodial wallet.

The government will not be able to seize your digital assets without access to your recovery seed and private keys, even if they embark on such a mission. It is impossible to document all the Bitcoin that has been purchased so far since many people buy Bitcoin through decentralized exchanges.

Miners are also completely safe, there is no form of centralization when you use your asic miner to mine some Bitcoin, I don't see how the government will succeed with this.

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Quote from: m2017 on April 10, 2023, 10:55:50 AM

The US government doesn't need to take away your crypto assets, because it can make you run to hand over cryptocurrencies yourself. This is done very simply: it is enough to pass a law that for the storage or use of crypto huge prison terms are introduced.

True for US but not for the rest of world. There are countries where bitcoin is banned but still people are using them specially in the less developed countries like Bangladesh. Here, cryptocurrency is banned but people are frequently using it without any issue. Only a few have been arrested by the authority because they were involved in a lot of crimes.

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Quote from: Zlantann on April 10, 2023, 12:17:10 PM

Sometimes I hear when people say you can easily move from one country to another if the government becomes unfriendly to Bitcoin and others. This will be possible for only rich crypto holders and people from developed nations that can enter different countries with their passports. Bitcoiners from developing nations will have no option but to sell off their investment because their passport will not grant them entry into any country that has a stable and strong economy.

I don’t think developing nations will impose such unfriendly conditions on bitcoiners, there are more flexible tax laws in third world countries than anywhere else in the world, I don’t think regulating bitcoin is a major concern here, most third world countries are busy trying to get out of debt. I think if the US and other European countries decide to take such drastic move against bitcoin, then the bitcoiners, miners and crypto enthusiasts will be forced to move their business to third world nations where there is little regulation on crypto activities.

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Quote from: tread93 on April 10, 2023, 10:28:46 AM

What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.

I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....

I'm not familiar with the laws of the other countries but here in my country when a government claims a property we have something called the power of eminent domain where the government can claim property for public use but when they do that the owner will be rewarded of compensation for the property in a fair price.

So the government cannot easily seize something that they don't own at this point, even claiming private property here would take a lot of process and compensation or payment, I cannot imagine the government going for crypto at this point because obviously there will be a lot of disagreement and people would not easily follow to what the government wanted.

It has similarities to this topic Governs' oppression of bitcoiners may turn against them

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Quote from: pooya87 on April 10, 2023, 12:04:55 PM

Let's not forget that there is a difference between gold which only exists in physical form and occupies space so it can be found (if they search you) and confiscated physically and bitcoin that only exists in digital form and doesn't occupy any space so it can be hidden very easily and can not be found or confiscated that easily.

By the way the biggest risk in modern dictatorships (aka democracies) is not them kicking down your door and taking your bitcoin by force. It is not even about taking your bitcoins. It is always in a much "softer" way where they convince you to use bitcoin in a "centralized way" so that they can have full control over you (ie. have a leash around your neck while you have the illusion of freedom).

For example when you want to invest in bitcoin, they convince you to invest in a company that promises to buy bitcoin in your place and in return gives you a piece of worthless paper as a contract or something similar.
Or when you want to store bitcoin they convince you to use a custodial wallet where you don't even have access to your keys or your own coins and in return they give you an account.
Or when you want to accept payments they convince you to use a payment processor that monitors and controls all your payments and financial transactions.
And a lot more.

As you can see some of the points I raised above are too familiar because they are already happening!!!

it's happening. we were tricked after all. we have been using a wallet that provides a very convenient way to cash out BTC and then in the later days, they were asking us in submitting KYC documents.

the local wallets are already doing all these but i don't think my country will seize crypto from the users. there are millions of us here playing Axie Infinity even the kids. the administration who do it will not win in the next election

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