Quote from: DeathAndTaxes on July 27, 2014, 04:06:16 AM

Quote from: taylortyler on July 27, 2014, 03:55:45 AM

Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)

Am I reading this right?

No. No more than dollars under your mattress you don't use for 5 years belongs to NY. Abandoned property deals with THIRD PARTY accounts. So under the BitLicense if you had an account with an exchange and you didn't login for 5 years the EXCHANGE would turn the account over to the state.

Holy mother of fuck that cannot be real.

All they gotta do is make up some bullshit charges (Patriot Act or something) and put you in jail for 5 years and then keep all your money for inactivity. If you use coinbase or something that is.

leahsandes

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