Is the government likely to try to seize your bank account / crypto holdings? (References in comment).
Right now, the US national debt is growing at $1 trillion every nine months. Interest alone exceeds military spending. Although I can't predict when it will happen, I think it's inevitable that the USD will collapse. (1)
When that happens, I expect the government will be hungry for cash, and will try to seize whatever they can find, the same way the Greek government seized bank accounts following their currency collapse. (2)
When the agents come to your door, will they believe you lost your Bitcoin in a boating accident? Maybe. Or maybe the IRS will put you in prison for years until you remember where it is. (3)
IMO, it's better that the government doesn't know you own crypto in the first place.
Photo is New York Times front page announcing FDR's Executive Order 6102, in which he demands that all US citizens turn over their gold.
Right now, the US national debt is growing at $1 trillion every nine months. Interest alone exceeds military spending. Although I can't predict when it will happen, I think it's inevitable that the USD will collapse. (1)
When that happens, I expect the government will be hungry for cash, and will try to seize whatever they can find, the same way the Greek government seized bank accounts following their currency collapse. (2)
When the agents come to your door, will they believe you lost your Bitcoin in a boating accident? Maybe. Or maybe the IRS will put you in prison for years until you remember where it is. (3)
IMO, it's better that the government doesn't know you own crypto in the first place.
Photo is New York Times front page announcing FDR's Executive Order 6102, in which he demands that all US citizens turn over their gold.