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This. Seems that Jimmy is a bit confused.
No, he's likely just talking about custodial. That's probably all the state knows to exist in the first place. ;)
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...If you hodl your own. If the laws go really wrong I fully expect for them to seize everyone's coins at coinbase and other KYC'd exchanges before the public can pull them out.
Not like we didn't warn them.
If you don't "hodl your own" you never had bitcoin to begin with so it still can't be seized because it was never yours to begin with.
I think they mean actively trying to. They might not be able to actually seize it, but a $5 wrench attack still hurts like the devil and prison is no fun. So if the government starts coming after your coins and you have to flee the country, where are you headed?
Bitcoin can't be seized. That's the whole point.