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Aaron Daniel | 6 months ago (raw) | export | reply | flag +5 
 This is what seizure through coercion looks like.

Governments can't seize your Bitcoin, but they can seize YOU if you fail to surrender it.

I've been predicting that such coercion will be one way courts and governments overcome Bit okn's seizure resistance: https://bitcoinmagazine.com/culture/how-civil-justice-reacts-to-bitcoin-custody





https://image.nostr.build/94b14a240a5075fa6a84c9b8656fed3e731797d3e0b02de919c937494e327c4c.jpg
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Yael | 6 months ago (raw) | root | parent | reply | flag 
 Yeah, but subjecting yourself to the exit tax based on your net worth is a choice someone makes willingly
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Toshi | 6 months ago (raw) | root | parent | reply | flag 
 I don’t know any details about this case but if he sold his bitcoin after he renounced his citizenship, he wouldn’t have to pay taxes in the US, would he? If he sold before then of course he would have to pay in the US under the law
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Aaron Daniel | 6 months ago (raw) | root | parent | reply | flag 
 He didn't sell.

 It a "constructive" (legalese for imaginary) sale that happens by law when one renounces citizenship, triggering capital gains taxes on the value of assets held at that time. 

It's a wealth tax designed to deter citizens of means from renouncing citizenship (the US taxes citizens earning abroad).
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Toshi | 6 months ago (raw) | root | parent | reply | flag 
 Oh. That sucks. wtf?