Close To Nobody Is Going to Leave Canada Because They Regulate Bitcoin (BTC)

Dennis Porter shared: Canada warning everyone to get their coins off the exchanges because they will take them is the most incredible advertisement for Bitcoin I’ve seen in my entire life.

Community Response:

Where are they supposed to store their Bitcoin though if the govt will take it from Coinbase?

You can use a decentralized wallet such as MetaMask or Trust. good idea.

If you’re Canadian, you should get your money out of the bank.

Once you get it off the exchanges what are you going to do with it?  Hold until the banks die. This is a war of attrition and there are enough of us who don’t care what the price of BTC does, that’s how much we want independence.

Good grief.  Dear sir, are you enjoying the upward transfer of wealth, arguably the biggest in a century that has happened the last couple of years as a result of all this central bank dicking around? I’m not, thanks.

Don’t bite the hand that feeds you. What are they going to do when the majority of the smart money middle class (majority of tax revenue) abandon their country? You have 2 choices stay and follow rules or migrate to a crypto-friendly country.

Close to nobody is going to leave Canada because they regulate Bitcoin. Man, you people think people are more into their than they are. Quick: how many individuals in the world own even a fraction of a Bitcoin, much less enough to make a life decision over.

I own several hundred thousand dollars in crypto and there’s no way I’m changing countries because of any internal crypto policy.

I get it, you love your country, and too bad they don’t share the same sentiment. The day will come when it’s going to be in the interest of the majority to force change or get out of a shitty system. The middle class has been building the world for too long, now it’s our turn.

That made little sense but did make a lot of assumptions. Not sure what you’re going for.

Good luck with everything mate.

“Nooooo don’t use self-custody guys, we need to control you nOooooo give us ur Bitcoin noooo”.

I asked them as I’m in Australia, their response was to read the terms and conditions…couldn’t give me a yes or no answer.

I had coins on hodlwithLedn (Canadian bitcoin lender). They couldn’t take away my worries when I contacted them and their answers made me worry more. So I moved them to another lender, outside the reach of Canadian law. Thinking about going 100% cold though.

Cold or collaborative custody with unchainedcap who cannot hand over your BTC if ordered.

Thx. What are the rates of lending your coins through them? I cannot see how they lend out your coins without you handing over private keys.

I’m not referring to loan products. I wouldn’t risk my keys. Unsure of the model at UC.

Well, if not for the rates, why would you go with unchainedcap instead of just moving it to your ledger or trezor?

Multi-sig services inc CasaHODL are for those who wish to avoid a single point of failure.

You can also do multi-sig independently w/ other wallets.

Ok, sounds good. I am not too familiar with multi-sig, should read up on it. Actually, for my cold storage, I split up my 24 words into three parts of 8 words and gave the parts to three different people who don’t know each other.

Of course, I own the 24 words, but ran it through PGP with 512 bits key and put the cyphered text on a couple of USB sticks. When I need to transact I usually decipher the ciphertext on an air-gapped computer.