Post
Topic
Board Bitcoin Discussion
Re: How to use private keys post societal collapse
by
Fundamentals Of
on 21/09/2021, 02:10:57 UTC
Now, that means you have successfully demonstrated how Bitcoin cannot be confiscated. That's a good way of illustrating how Bitcoin is indeed about complete ownership. You own your Bitcoin. In that way, your worth is kept safe and untouched despite a situation when the economy and society collapsed. The next steps that you will do are the ones detailed above my post.

But I will ask you, what exactly do you mean by societal collapse? Because if it is a situation when the entire society is reduced to rubles and people are going back to the primitive ways, then I'm afraid Bitcoin is also rendered worthless.

Bitcoin CAN be confiscated.This has been proven many times.Just ask the FBI or any Ministry of Internal Affairs in almost any country in the world.

In a different sense. Bitcoin can be confiscated not because the Bitcoin protocol itself has something which could be considered a weakness such that it could be exploited by the FBI or any ministry of internal affairs in almost any country, but because some Bitcoin owners are leaving a lot of traces behind. It is not due to Bitcoin that some coins are successfully confiscated. It is about those persons who made Bitcoin transactions. I stand with my claim that Bitcoin can't be confiscated.