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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

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☉rthonormalist

@orthonormalist

Feb 19

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

Jesse Powell

@jespow

Replying to

@orthonormalist

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.

8:28 AM · Feb 19, 2022Twitter for iPhone

Replying to

and

Which "crypto"?

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Replying to

That's certainly true - but you can't prepare for just one, or even just the worst outcome. There are many bad outcomes, and some of them would encourage heavier assets. Crypto can't be seized but it also may not be as easily leveraged in some scenarios.

KildrasZing

@KingdomZild

Feb 19

Most of those assets would require constant maintenance and difficulty to self custody. Food, water, energy and security are highly valuable if you think USD doom days is here