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Re:Bitcoin is a Ponzi by glenvdb on Thursday October 07, 2021 @12:41AM (#28782016)
Yes, the wrench technique will always ultimately win.

https://xkcd.com/538/

But they have to know someone holds it in the first place. You can walk around with a seed phrase in your head and no one would know.

Re:Bitcoin is a Ponzi by qaq on Thursday October 07, 2021 @12:47AM (#28782073)
well you had to have something of value that you had to trade for bitcoin. Also in oppressive regimes the act of attempting to leave the country already makes you a suspect.
Re:Bitcoin is a Ponzi by stale2002 on Thursday October 07, 2021 @12:55AM (#28782146)
> the act of attempting to leave the country

They aren't going to immediately execute everyone who is crossing the border. Even in authoritarian regimes, some people may be able to leave, and borders are not completely shutdown.

And in that situation, for those people, it is useful to be able to carry money, in a way where they do not know that you have it.

Re:Bitcoin is a Ponzi by bb88 on Thursday October 07, 2021 @01:06AM (#28782232)
I mean sure, some people make it out of North Korea. A lot are publicly executed to be made an example of too.

I think you fail to understand the power of a true authoritarian government, particularly if they can monitor and limit your access to the outside world.

* Use a VPN, you're guilty of Treason.

* Use a currency other than the North Korean won, you're guilty of treason.

* Use an electronic device other than state sponsored devices, you're guilty of treason.

All executions will be recorded for posterity and broadcast to the people as a reminder of the power of the state.

Re:Bitcoin is a Ponzi by abecedarius on Thursday October 07, 2021 @01:31AM (#28782451)
Also don't forget multisig or Shamir secret sharing.