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7 sats \ 3 replies \ @CheezeGrater 10 May 2022 \ on: Food for tought: if you need to pay taxes to keep your things, are they really yours? bitcoin
Anything you have is only yours for as long as you can enforce keeping it from being taken by others.
Even things that potentially only exist in your head, like your private keys, aren't 100% safe from forceful extraction.
As with just about everything in life, it's all about managing risk.
True. Maybe I should contextualize it within the eyes of gov
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If you want to think like that, then real estate is the most risky investment anyone ever could make... Not only is it vulnerable to normal thieves, and not only could govt steal it from you citing imminent domain, but you have to pay the annual extortion fee throughout your whole life just to keep them from stealing all your real estate from you.
My private keys can hold a lot more value and have a far smaller attack surface.
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It depends on the track record of your government and the strength of your country's constitution how likely your private property is to be taken from you.
At least most countries do an ok job of protecting your property from being illegally seized by other parties.
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