zlacker

>>mikeyo+(OP)
Shouldn't all true crypto believers hate this news?

It's the government trying to enforce their opinion of who should own those Bitcoins, thereby taking power away from the owner that the network has decided on, which would be "whoever has the cryptographic keys".

>>fxtent+35
Seems like a win to me. The government had to physically go to their house and arrest them to get to their funds, whereas normally all they had to do was call up their bank and had their money frozen. Not to mention, this threat could have been easily mitigated by keeping your funds in a multsig wallet, with the keys distributed in multiple redundant locations.

>>gruez+G6
> Not to mention, this threat could have been easily mitigated by keeping your funds in a multsig wallet, with the keys distributed in multiple redundant locations.

And if you're released from prison and recover your Bitcoin, you will be arrested again for contempt of court or a similar charge.

>>mschus+Rj
Why anyone would use BTC and not some privacy coin for this kind of scenario escapes me.

>>notch6+Tk
Is it practical to convert literal billions of dollars between currencies? And even if you did, wouldn't liquidating it so you can actually spend it on things in the real world prove to be almost impossible? Billions of dollars worth of currency is more than I'd expect most privacy coins to deal with over the course of months.

>>bastaw+7n
But in this case, accessing the billions in BTC was impossible too, so for all intents and purposes, that number wasn't real, since it wasn't usable.

The question is perhaps what is the most one can use and how to do it. Privacy coins probably play a part in this equation.

You maybe could slowly, and methodically convert it out of the privacy coin into a spendable form when needed.