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Topic: What will you do if governments try to take away your bitcoin? (Read 3656 times)

member
Activity: 80
Merit: 10
The big advantage of bitcoin is that it cannot be easily confiscated from you like physical properties like your house, your farm, your car, your gold or fiat money. You can chose between die and giving away, and if you chose to die for your bitcoins, the "thief" cannot take them from you, i.e. he needs to alive to take them from you. This is very different from physical stuff where you can just be killed and your stuff taken, and this whole thing makes a huge difference.

Tell me more about how that works out for you while I drive these nails up under your nail beds.

It would not work for me, I would deliver all probably. But you still have the option Smiley
hero member
Activity: 952
Merit: 1009
The big advantage of bitcoin is that it cannot be easily confiscated from you like physical properties like your house, your farm, your car, your gold or fiat money. You can chose between die and giving away, and if you chose to die for your bitcoins, the "thief" cannot take them from you, i.e. he needs to alive to take them from you. This is very different from physical stuff where you can just be killed and your stuff taken, and this whole thing makes a huge difference.

Tell me more about how that works out for you while I drive these nails up under your nail beds.
legendary
Activity: 1096
Merit: 1067

........and then there's the aliens they deffinately maybe could be mounting an attack as we speak...........

member
Activity: 80
Merit: 10
The big advantage of bitcoin is that it cannot be easily confiscated from you like physical properties like your house, your farm, your car, your gold or fiat money. You can chose between die and giving away, and if you chose to die for your bitcoins, the "thief" cannot take them from you, i.e. he needs to alive to take them from you. This is very different from physical stuff where you can just be killed and your stuff taken, and this whole thing makes a huge difference.
full member
Activity: 151
Merit: 100
I'd just tell them that unfortunately I had lost all my BTC the day before.
420
hero member
Activity: 756
Merit: 500
They don't have to pry over your dead hands, just get them out of your computer Sad

Cold storage baby!

Bingo

If the U.S. government said bitcoin was illegal, the first thing I would do is buy as much as I could afford from all the people panic selling. If I could, it might be hard to find an exchange fast enough, I only like U.S. based exchanges and they may go off-line at such a decision.

Second thing I would do is put all I had into a paper wallet.

Then I would try to find a lawyer and sue the government based upon the first amendment. I believe that using bitcoin is an expression of free speech protesting the status quo banking system.

a lawyer that takes paper wallet bitcoins
legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
They don't have to pry over your dead hands, just get them out of your computer Sad

Cold storage baby!

Bingo

If the U.S. government said bitcoin was illegal, the first thing I would do is buy as much as I could afford from all the people panic selling. If I could, it might be hard to find an exchange fast enough, I only like U.S. based exchanges and they may go off-line at such a decision.

Second thing I would do is put all I had into a paper wallet.

Then I would try to find a lawyer and sue the government based upon the first amendment. I believe that using bitcoin is an expression of free speech protesting the status quo banking system.

That would be an interesting court case
We know how the founding fathers frowned on Central Banking so it would be interesting to make the case haha
I disagree the founding fathers would have used Decentralized Banking if it was available or the market will keep manipulating it till its created so they can manipulate it even more Grin
http://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States
full member
Activity: 168
Merit: 100
They don't have to pry over your dead hands, just get them out of your computer Sad

Cold storage baby!

Bingo

If the U.S. government said bitcoin was illegal, the first thing I would do is buy as much as I could afford from all the people panic selling. If I could, it might be hard to find an exchange fast enough, I only like U.S. based exchanges and they may go off-line at such a decision.

Second thing I would do is put all I had into a paper wallet.

Then I would try to find a lawyer and sue the government based upon the first amendment. I believe that using bitcoin is an expression of free speech protesting the status quo banking system.
full member
Activity: 229
Merit: 103
It is impossible dude. Bitcoin has a magic property: it is highly deniable.
420
hero member
Activity: 756
Merit: 500
I'll give them my bitcoin when they pry it from my cold, dead hands.

cold dead harddrive
newbie
Activity: 14
Merit: 0
...because the NSA and CIA voted against it?  Grin
newbie
Activity: 14
Merit: 0
I read another topic the US financials said they won't be regulating crytocurrency, specifically bitcoin.
member
Activity: 98
Merit: 10
Well, if the government ever ends up regulating Bitcoin, I will only have around 100 satoshi or so left and they can have that. It's all handily in one wallet.  Roll Eyes

Notice: The above is a story of fictitious entertainment and can not be used as evidence in a court of law. 
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
in reality, most of us won't embark on illegal activities, but also don't like the idea of sharing potential "early-adopter profits" with authorities just because we were right, I mean it's not like losses would be shared, right ?

It doesn't work that way. If you gamble at a casino and win they get to share in your good fortune (it's taxed). If you lose they don't pay you. The compromise is you can claim gambling losses but only as much as your winnings. Dealing with governments, the best you can ever hope for is to break even.
newbie
Activity: 14
Merit: 0
in reality, most of us won't embark on illegal activities, but also don't like the idea of sharing potential "early-adopter profits" with authorities just because we were right, I mean it's not like losses would be shared, right ?
hero member
Activity: 630
Merit: 500
newbie
Activity: 14
Merit: 0
I'll put it in the goverment's ass.

FYI: you will need to get a hardware wallet for that (preferably a big one), or they won't even notice you doing that ... and you'll have to pick a representative, too.
legendary
Activity: 4410
Merit: 4766
I'll give them my bitcoin when they pry it from my cold, dead hands.

Funny thing is I remember people saying the exact same thing about guns until all the school massacres happened and now you're a "traitor" if you don't give in, my point is that Bitcoin will be painted in propoganda so heavily by then that everyone who owns them will be labeled under killing-drug-dealing-nazi-pedophile-human-trafficking junkie.

this is where trying to introduce another was legal-now not product fails in regards to bitcoin,

bitcoins don't gt created on farms by anyone. the majority of them are originally from manufacturers funded by governments, making them government products and under government control. hense the requirements for licences etc.

bitcoin is a licence free legal personal possession.. they can't suddenly revoke your licence or inform you they want a recall on their product. its not theirs!!
sr. member
Activity: 364
Merit: 250
I'll give them my bitcoin when they pry it from my cold, dead hands.

Funny thing is I remember people saying the exact same thing about guns until all the school massacres happened and now you're a "traitor" if you don't give in, my point is that Bitcoin will be painted in propoganda so heavily by then that everyone who owns them will be labeled under killing-drug-dealing-nazi-pedophile-human-trafficking junkie.
hero member
Activity: 784
Merit: 502
Why would they take your BTC?... The PTB can effortlessly squish Bitcoin out of existence a hundred different ways.
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