Re:Tulips, Myths, and Cryptocurrencies
by valuearb on Wednesday May 24, 2017 @02:23PM
(#14412241)
You really think a regime could survive banning personal computers and smartphones? Or even that it would be in their interests to do so? They still need an economy, even if it means they can't catch everyone hiding money.
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Re:Tulips, Myths, and Cryptocurrencies
by saalweachter on Wednesday May 24, 2017 @06:32PM
(#14413978)
The question is more about the relative value of Bitcoin against other actions you can take to avoid having all your money confiscated by an oppressive regime. Do you think your government can take the cash from your wallet, the gold from under your bed, and the potatoes buried in your fields, but not your smartphone or personal computer?
Not the potatoes but they can search and find gold and cash easily. They can't search your iphone unless you give them the code, and even then you don't have to store your BTC on your own device, you can easily store it in an encrypted server out of the country.
Customs can easily catch you smuggling cash, gold and potatoes, but they have no idea you are leaving to cash out your bitcoin in another country.