Starting to get worried about government overreach

Given the situation in Canada (I live here) and recent US announcements of regulating crypto, I am starting to look for other ways to hold funds safely without being in a traditional bank. Banks seem to risky right now. I do not hold any crypto.

It seems a lot of crypto is regulated (, banks offering crypto) no different than traditional fiat currency (KYC). This makes it susceptible to government over reach or emergency power.

Crypto is going from a decentralized, non-regulated system to being no different than fiat. The government’s and central banks will try to regulate it or .

I get worried that funds at any time can be seized.

What is the safest way to hold crypto?

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20 thoughts on “Starting to get worried about government overreach”

  1. Technically, “governments” can also seize coins you have put in cold storage, provided that they know your private key / pin etc. They will then transfer it to a wallet address that they own or send it to for instance Coinbase to convert it to EUR. This already happens in practise.

  2. Once your funds leaved the centralized place like the exchange to your wallet nobody can seize that. The only thing govs could do is to block the FIAT ramps (mostly exchanges) to accept your wallet. But then you could still transform the coins through a mixer or different coin via dex

  3. Never funnel you crypto through centralized exchanges like coinbase or binance and you’ll never have anything to worry about. Crypto isn’t centralized. Only exchanges that convert to FIAT and link up to your bank account are.

  4. You should have been worried about government overreach prior to crypto.

    Unfortunately it is the nature of the system to want to accrue power and influence. It wants to preserve itself.

  5. Why would your funds just get seized? How many criminals are on this site?

    I and everyone I know has been with traditional banks our entire lives, never has anyone had their funds seized.. except one guy, but he was defrauding people selling worthless rocks to people telling them they were expensive gems. He was found guilty and the bank ordered him to pay back all the folks he defrauded on top of prison time.

    Anyways unless you’re actively breaking the law, no one is seizing your money.

  6. Some crypto’s truly can not be seized. They are decentralized. Which doesn’t mean they will be a save haven for the next 50 years.

    The true power of crypto is not the speculation. It might be very well that the meaning of a token or coin will change in the future. Meaning that they might represent something different than simply a mean of payment. I definitely don’t buy into that whole Bitcoin is Gold fable. That is just said by people who bought that, and are now scared they will lose their investment, which they will.

    I do believe in a society where certain aspects of securities become tokenized. And they will represent securities like company and patent value, intellectual property and rights. And more accessible to a larger group of people. Who, once we fix the extreme variety of wealth more equally, can participate in whatever they believe or stand for. Who doesn’t want to own a piece of the Mona Lisa, right ?

    I buy only crypto for fun, because casino’s where closed. And I buy only projects where I believe in the community to be aiming for applicable and broad solutions. Gaming is fun, but thats no future. I am talking about true infrastructure, not just for gamers. But for everyone. Globally.

    So honestly invest if you understand crypto. Otherwise, stay away or start learning first about the past 12 years. Understand who the players are, so you know who is benefiting from what. Its a world of new rich kids playing.


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