Bitcoin seizure

Discussion in 'Crypto Assets' started by dealmaker, Nov 6, 2020.

  1. Sprout

    Sprout

    Worlds Millionaires.png
     
    #11     Nov 6, 2020
    johnarb likes this.
  2. Sprout

    Sprout

    Where did you pull this data from?
     
    #12     Nov 6, 2020
  3. maUL3dNQ

    maUL3dNQ

    Perha
    Thanks for the info!
     
    #13     Nov 6, 2020
    johnarb likes this.
  4. maUL3dNQ

    maUL3dNQ

    The amount of millionaires is probably higher in Canada, for 2020. As the average home in the greater toronto area (GTA) is now 1.3 million dollars for a 1000 sq ft , 100 year old shack with a busted toilet.

    Generation X has done well, granted they owned real estate in Canada. One of the most expensive worldwide.
    !!!
     
    #14     Nov 6, 2020
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  5. They

    They

    #15     Nov 6, 2020
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  6. #16     Nov 6, 2020
  7. many of these exchanges that 'hold it for you' have been hacked, shutdown, gone, poof, in an instant
     
    #17     Nov 6, 2020
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  8. maUL3dNQ

    maUL3dNQ

    Yes, I have heard of the exact same thing. Great point.

    At least, dealing with futures and brokers, money is insured, feel more confident with that respect, in the event...
     
    #18     Nov 6, 2020
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  9. Trader Curt

    Trader Curt

    Yes hopefully you as well.

    Looks like we are on our way to retest 20k! Congrats to anyone holding in here.

    Yes and many exchanges have also tightened up their security and also pay back the stolen funds, and that's if you store your coins on an exchange. Not everything is all doom and gloom with an exchange. And most hackers have only hacked some of the accounts on an exchange, never all.
     
    #19     Nov 6, 2020
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  10. ET180

    ET180

    Honestly, the most appealing part of bitcoin (where it is actually superior to gold and hard assets) is the transportability. You can effectively hide wealth under bitcoin by buying bitcoin and simply remembering the private key. Hope on a plane, leave the country, and withdraw the funds somewhere else. But if one of those companies hold your bitcoin, then you don't really own the bitcoin. If ordered by the government, all those companies above will hand over your bitcoin because they own the actual private keys to it. This is similar to holding physical gold vs. owning a gold ETF. I'm thinking that the best use case for bitcoin might be to eventually export wealth out of a country when facing wealth confiscation or to pass wealth to children and avoid inheritance taxes. The only problem is that you would have to buy bitcoin from a dealer, probably overseas, who will not reveal the private keys to the government. Although there's probably some other way to launder bitcoin. I should probably look into that.
     
    #20     Nov 6, 2020