Canada's government is seizing bank accounts and they are just getting started.... They will freeze more accounts.

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[–]jw329 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (6 children)

The problem is most Canadians don't have much money in the bank. The ones that do where are they supposed to go?

I tried convincing people to put their savings into Bitcoin but Canadians are not capable of understanding the banking system.

[–]IkeConn 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

I have decided that people that have been stocking up on coin silver are the smart ones.

[–]jet199 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

Toilet rolls also.

[–]jet199 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

If people had listened to you they'd be even worse off. They are seizing btc while only freezing bank accounts. Don't be so smug.

[–]Tom_Bombadil 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

They are seizing btc while only freezing bank accounts.

How are they seizing Bitcoin?

[–]In-the-clouds[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I don't know the answer to your question, but I did hear the FBI has seized Bitcoin. They have demonstrated the capability to take Bitcoin, even from hackers!

https://fullycrypto.com/chainalysis-reveals-colonial-pipeline-bitcoin-retrieval

[–]johnjdoe 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

i am sorta guessing here, but it would make your bitcoin more secure and insulated from being seized if you dont allow a wallet service to manage your private keys.

you can generate a random private key(256 0's and 1's) and then mathematically break that down into an address.

give out that address to receive payments.

i believe that you can then spend those coins by using the bitcoin core software.

how could anybody seize that?

if you secretly generate the private key and manage the key yourself, nobody can move those bitcoins except you.

of course tho now you are responsible to keep the private key secret or you can lose the coins.