Post
Topic
Board Politics & Society
Re: Bitcoin Confiscation
by
gopher
on 30/03/2013, 08:28:44 UTC
Mere possession can be outlawed, but those laws can never be successfully enforced.

Example: firearms - there are laws all over the world regulating the possession of firearms, and those laws are utterly ineffective in their attempt of preventing the illegal firearm possession. Those laws are only effective if applied to the legal and dully registered firearm owners - which ironically are the only ones who comply with those laws.

Same with Bitcoin - if the governments outlaw the Bitcoin, the only Bitcoins that could be (easily) confiscated will be the ones deposited with legally compliant institutions - the ones stored in a private wallet could never be effectively confiscated.

Time to post the Bitcoin version of a "MOLON LAVE" poster, I suppose. :-)