Let's follow the worst-case scenario to its end for a moment. The US decides to revisit their gold confiscation policy from the 1930s. They decide to take away your bitcoin and hoard it to save the dollar. They put out a massive smear campaign on how bitcoin/crypto is responsible for a large part of the collapsing economy and failing currency. They fool the masses, and now the witch hunt is on. The US government is confiscating all bitcoin they can get their hands on.
Obviously, a few decades after that, Bitcoin is now legal and protected, and everyone uses it. The problem for the little hodler is the few decades where they attack it in order to hoard it and secure the US government is a world leader in BTC holding.
So, what does a "real" bitcoiner do in that scenario, and how does that bitcoiner prepare now for that scenario? Would a real bitcoiner be worried if they had purchased all their BTC through exchanges like kraken and coinbase? Would it matter if the KYC btc was stored in self custody if the government can come knocking saying they know someone has btc because the exchange disclosed it?
Are we all prepared for this? Seems to me a "real" bitcoiner could end up being defined as someone smart enough to HIDE their bitcoin from the government. A real bitcoiner is obviously not a speculator and plans to hold on through hell. So, how does one do that?
submitted by /u/Acceptable-Risks