Post
Topic
Board Speculation
Re: Government banning bitcoin??
by
myrkul
on 29/04/2013, 01:14:59 UTC

See, if it were dollars, I could just reach into your bank account or your mattress, or wherever you keep them, and take them. Can't do that with bitcoins.

That's just out of practicality.

Anyone who possesses your private key has your coins.
So its more like bitcoin gives you a very strong box for holding your value and gives you a key.
This key can be taken from you and you could lose it.

Sure could. Most Western countries now have laws requiring you to hand over the keys to any encrypted data the cops want to look at.

Sure. But do they get the key to all your riches, or a mostly empty show wallet? How would they know the difference?