Tim Knowles
1 min readMay 26, 2021

--

The reason I brought up money laundering is if you don't want an asset seized you must launder it so it can't be traced back to you. You don't have to be a criminal to have your assets seize. Back in the 30's the Federal Government seized everyone's gold. Not giving the government what they ask for makes you a criminal. It you have it and they know it.

Does that answer "not sure why you are bringing money laundering into the discussion. Yeah if you are a criminal and use Bitcoin for criminality then law enforcement will go after you, cuz you're a criminal, has nothing to do with Bitcoin. So...if you're a criminal then you're a criminal. Not sure what you're arguing here. Are you a criminal?"

I am not a criminal but I am not sure that the government will not demand things from me that I don't want to give them. If I feel the need to protect my assets from the government it would be nice to have assets they can't know I have. The rich probably have assets in offshore accounts that they think the government does not know about.

Another thing the government can do is freeze assets. During the Greek fiscal crisis bank withdrawals were limited. It would be nice to have liquid assets in an account that the government could not control. I guess a bitcoin wallet not tied to an exchange would be such a thing but they are hard to managed. Kind of have to be your own expert.

--

--

Tim Knowles
Tim Knowles

Written by Tim Knowles

Worked in our nations space programs for more than 40 years

No responses yet