Dennis Porter shared: The FBI is trying to learn how to take your #Bitcoin. If that doesn’t scare you into taking your coins off the exchanges, I don’t know what will.

Community Response:

Bad idea. If the price starts to crash there will be a traffic jam if everyone tries to move coins at the same time because of 1 MB blocks. Best to just sell all cryptocurrency now and cash out into a bank account.

Should we do it because they can’t take money out of your bank account?

You are more likely (far more) to lose your money in crypto than in a bank account.

Add Ledger addresses to your empty MM account, do not store MM seed phrases on your Ledger. Keep them separate. Authorize every transaction from your Ledger offline. Smart security.

What hardware wallet do you recommend? I’m not too thrilled with Ledger. Very cumbersome IMO.

Coinbase Wallet or Metamask wallet.

Source? There is no source, just grand fear-mongering. What you will notice in the crypto world is a lot of sensationalism and people just blindly accept it as gospel. It’s sad to observe how a platform of high tech is reduced to such low-comical and inane tweets.

Yes, but are wallets safe either? Don’t save your keys in the cloud.

Is Blue Wallet considered cold storage, sorry if that’s a dumb question? Just getting started here.

Wouldn’t taking them out of exchanges crash the price hard?

Supply and Demand My Friend. If you take your BTC out of the exchange, into a hardware wallet, the supply Will drop = price Will increase on the rest of the BTC, if there is demand for it.

Or maybe they just want to learn how to get hold of these crypto scammers. Maybe what you’re doing is trying to stoke fear over a sentiment that is uttered every 20 mins in a crypto Twitter space. Not your keys, not your cryptos.

Canada is seizing accounts of political dissidents. I don’t know why you think they wouldn’t be studying the potential for the same thing here. Based on covid, the two regimes have moved nearly in lockstep.

Political dissidents? They blockaded borders. In what effed-up world is that protected free speech? I want to know because CT has lost its collective mind on this issue.

Rule of law is important, so is due process. You can’t sacrifice one to save the other. Capital understands the risks of a regime that learns it can simply steal from the people and get away with it.

The FBI should know how to seize BTC. For example, they might recover your stolen BTC if an exchange is hacked. You will be so grateful about them protecting you if you are the victim of theft, won’t you?