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freddms | 3 months ago (raw) | root | parent | reply | flag 
 Gotcha. It makes sense.

How about #Bitcoin? Preservation of wealth?

Probably like West, few understand. Correct?
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xiangcai | 3 months ago (raw) | root | parent | reply | flag 
 yeah very FEW. and in China it's very hard to orange pill people because of the heavy speech censorship
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freddms | 3 months ago (raw) | root | parent | reply | flag 
 This kinda scares the shit out of me.

I always think, "How can someone subject themselves to living like this?"

And then I wake up and realize it's happening in USA too.
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xiangcai | 3 months ago (raw) | root | parent | reply | flag 
 how is US handling individuals' bank tractions? i heard the IRS is quite omnipotent
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freddms | 3 months ago (raw) | root | parent | reply | flag 
 Most transactions are through a bank. Because banks have to comply with KYC (Know Your Customer) they have access to all transactions with a search warrant for ALL accounts.

There are many stories of peoples accounts being frozen for 'suspicious' activity. I don't think this is the norm. BUT it can be done with the current system in place.

The IRS can take money from accounts, and garnish wages. BUT I think it's quite rare - maybe getting more so but still very rare.

The idea these systems are in place are beyond comprehension to me - why Bitcoin wins with me.
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xiangcai | 3 months ago (raw) | root | parent | reply | flag +1 
 i can totally relate. lots of frozen bank account stories due to "suspicious" tx in Chinese fiat system, literally every transaction is KYC'd as long as thru cashless way.