How The US Government Can Destroy Bitcoin

Get my new Bitcoin book:
https://www.amazon.com/gp/product/B08RX8Q4ZQ

In this video, I discuss a simple way for the US government to capture and destroy Bitcoin: simply allow most of the world's Bitcoin to accumulate at a few custodians, and then seize those custodians.

This could, of course, be carried out by any hostile government, not just the US.

The solution is for every Bitcoiner to withdraw their Bitcoin from their exchange or app, and hold it on a hardware wallet in a single-sig or multi-sig solution. "Not your keys, not your coins."

Centralized pools of Bitcoin are a threat to the individual holders, as well as to the entire Bitcoin ecosystem.

We do not want a repeat of US Executive Order 6102, where the US government seized its citizens' gold. This seizure was made possible by the fact that most US gold was already sitting in centralized locations like bank vaults.

Crypto exchanges and regulated custodians are a very bad Layer 2 scaling solution for Bitcoin.

Not investment advice! Consult a financial advisor.

Coinbase trending #1 in app store:
https://twitter.com/JoePompliano/status/1453544075626487809

The largest Bitcoin custodians:
https://custody.coinbase.com/
https://www.bitgo.com/services/custody/qualified-custody/

When the US government seized gold:
https://en.wikipedia.org/wiki/Executive_Order_6102

The threat of an unrealized capital gains tax in the US:
https://www.youtube.com/watch?v=iGQzBhF3UDI&ab_channel=TraderUniversity

Trezor hardware wallet:
https://trezor.io/

Blockstream Jade hardware wallet:
https://blockstream.com/jade/

Check out my online trading courses:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99

Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#Coinbase
#Cryptocurrency

Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.