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So, nothing is safe. What will happen when every thief knows that everyone has coins. Will they not simply put daggers on anyone's throat and ask to transfer.
Okay, now that's done. Police is needed to catch them. Does that mean, we would most probably need police and government in Bitcoin Standard as well?
21 sats \ 1 reply \ @jgbtc 27 Jun
Robbing people is hard work and people are generally lazy. As robbery rates increase people will take self defense more seriously, making it even more work to the point where just working for bitcoin legitimately will be easier and more lucrative than robbery. Of course crime will still happen, there is no utopia.
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110% right! I am amazed he was able to pull off robberies not only in Texas but in Florida as well because the stand-your-ground laws let you take care of the threat to you and your family!
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No, geographically distributed multisig and time locks. Fiat money is trusting something else to manage your money. People will stop asking others to manage their personal security. Jurisdictional arbitrage will happen at small scale with municipal and home defense markets growing.
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No I dont see the need for police in the Bitcoin Standard. Think about it as other assets... someone breaks in and steals your TV or your watch collection etc. You call the cops and they investigate.
There are already several companies that track crypto transactions for industry like Chainalysis and the police will partner with them to find where the funds went. I couple of these companies have developed ways to track through tumblers as well so even if the thieves do that police can track it.
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