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It’s a great point. You’re not necessarily safe just going on-chain. The top reserve tokens with centralized issuance and redemption, like USDT and USDC have centralized control of freeze functionality that can be commandeered as easily as a bank account. Stick to real crypto.

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sake

@sakeblues

· Feb 19

Replying to @jespow

but ser, a big chunk of digital fiat (usdt/usdc/etc) can be also illegally confiscated (so people should go with dai/ust/rai/frax/etc) also we probably shouldn't use language like on-shore bank account, or they will interpret it like wallets should be regulated as banks

8:21 AM · Feb 19, 2022Twitter for iPhone

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People should distribute assets in general. Crypto, gold (silver), brass, land, traditional equities.

Jesse Powell

@jespow

Feb 19

Depends on your threat/risk profile. Only thing that can’t be seized is crypto. Take it in your brain as you cross the border empty-handed. Can’t do that with any other asset. You don’t want to be in a position where you can’t afford to pay a lawyer because they stole everything.