Bitcoin Forum

If you were a billionaire in the United States, how terrified would you be to see a foreign national's assets and bank accounts blocked for no reason of their own?

If you were an American Billionaire, how terrified would you be to witness a *Foreign Billionaire* having their assets and bank accounts seized for no reason of their own?

Billionaires worldwide are fearful at the moment. They can only be rescued from the sinking ship by Bitcoin lifeboats. The whole population is being saturated, including people who have never touched a drop of water in their lives.

This situation will open many people's eyes to the current banking system. Some Russian tourists buy cryptocurrencies to pay for services abroad because their cards are blocked.
Now the hunt for cryptoassets begins:
https://twitter.com/chainalysis/status/1501966648768708615?

I believe you are referring to the recent sanctions of Russian billionaire Roman Abramovich because of Russian-Ukriane war. Bitcoin can be a life boat for them. If you are careful with your privacy, the government won't be able to track your bitcoins easily.

It is a concerning matter that a person is getting penalized because of his government's mistake. The person is getting penalized for no mistake of his own. This is an inhumane act to be honest.

This kind of incidents actually give a bosst to the entire cryptocurrency narrative. More and more people will be able understand the necessity of having control over their own money.  That's a great learning from Roman Abramovich's property freeze and I hope people will actually utilize this learning and keep at least a percentage of their wealth in bitcoin to keep their bills paid.

Okay, let's imagine all billionaires sell all their assets and buy Bitcoin, then what? The whole point of being a billionaire is to own business that keeps increasing their wealth. Bitcoin is obviously not a business, it's a volatile and speculative asset. I can only see billionaires using Bitcoin to hide a small portion of their wealth. But they already have offshore bank accounts for that.

That would be vaguely terrify for me if my accounts were froze overseas. Reminds me about wolf of wall street movie where Belford has to run for his life when he gets Call that Ant Anna is dead and his assets might be ceased if does not come by. Well that’s just one of the incidence.

So yes of course things can go wrong if such act is done on my accounts. If I got that much money then it’s coming from businesses which I have set up overseas and I’m paying their locals who will be on the job. If I get banned from the same country and government then sure I would be as pissed as hell fire.

and that's what happens to most billionaires and a lot of the businesses they run no longer use their names in some countries to avoid tax suspicions or state laws by borrowing a third person while saving it into bitcoin i'm sure it's only a fraction of their money unless they're a bear and cryptocurrency market whale

There's a likely that when the situation even gets worse, they're going to use a way to hide all of their wealth and as much as they can save it from the sinking economy and to avoid the freezing if it's being held by a financial institution.
Well, these billionaires can also be tricky, they can just simply put their money into different assets like gold, real estate, bonds and other investments aside from bitcoin.

Let us put it this way, they won't reach their status if they don't know what they are doing.
They know better more than anyone how to manage their assets, with or without crisis.
Besides, they have other people taking care of their wealth.
So for me, they don't need advise from us because they know more than anyone how to secure their assets.
At this stage, if they are a billionaire, they already surpassed a lot of challenges along the way.
And they very well know where to put their assets in case of possible challenge in the horizon.

I'd be afraid as a Russian billionaire but not as a citizen of the EU or US. There are some countries that are moving towards total control and socialism and one of them is Canada. China of course is another example. The whole world hasn't gone nuts it's just some places that are getting harder and harder to live. Russia is an extreme case and if you were a Russian billionaire you had many years to run away from there. You either were an opposition like Khodorkovsky or supporting Putin like Abramovich.

That is an interesting question indeed.  As a billionaire, you have to imagine their main focus is on maintaining their wealth, not accumulating it.  That means they would have to balance the risk between having their funds lost without being insured, and having their funds confiscated by an unruly government.  I'm betting a lot of billionaires are hiring people to setup self-custody systems that they feel comfortable with in order to avoid the risk of holding their funds on exchanges.  I'm sure they've got their money spread around though.  No billionaire puts all their eggs in one basket as they say.  So while they are probably concerned about losing their funds, when you're that rich, how concerned can you really be?  You just play both sides of the fence and let inflation keep you rich. 

I'd be terrified for sure, and the initial plan of action is to disalign myself with countries or entities that I know that are quite unstable and would have the tendency to do some crazy things and take my assets to their downfall. Governments can easily seize your assets and funds if you're doing something sinister, but if you're doing everything by the book and does not appear to engage in any illicit or fraudulent activities to gain wealth, there is no reason for the government to freeze or seize your assets in any way.

Or you can keep some of your assets in bitcoin, but there isn't any guarantee your assets will remain the same value, but at least you control your assets fully.

Billionaire vs bitcoin, maybe this applies to a country that is at war, maybe Russian billionaires are starting to fear and start to be wary of their wealth being confiscated by other countries, such as Chelsea boss Abramovich, who suffered tremendous losses, and he was not allowed to manage the club again, maybe bitcoin will be a good repository for billionaires to hide their assets, so the state can't confiscate their wealth, because we know bitcoin is a very valuable asset, only we know about the assets we have.

Is there a source that reports about this?
I can't imagine that happening in my finances.
maybe Americans will be very tormented about this, unilateral decisions are indeed unfair, I also feel, about the assets of billionaires there are those who may be afraid that there are also those who have backups of both bitcoin and other digital assets that have surfaced financially. all issues and conditions because they fluctuate so naturally. I'm sure I will return and be good enough to save assets.

I don't know what would worry me if I were a billionaire, what does worry me is that this was done without a trial, without following the rule of law. There is a component of arbitrariness and authoritarianism more typical of dictatorships in this that I am surprised not to see questioned by the western mass media.

To freeze their assets because they are Russian seems to many people to be fine or they don't care because they identify it with Putin, when the people in question may not have done anything wrong or even agree with Putin.

I don't see much difference with freezing your assets for being Jewish either, and this would be more outrageous, wouldn't it?

I'm not a billionaire, so I'm not worried, but on this issue, I think you'll change your mind. We are standing in a different position and looking at their thoughts. I personally see that wealth is not the main issue when we see that life has more things to care about and it is just an ending to those.

Obviously, I can't imagine how crazy I would be if that happened, luckily I'm not one of them.

this is the same answer as point 1, fortunately I am not included in their category.

Maybe, you are right today's billionaires prefer to save their assets rather than take uncertain risks or withdraw all their assets before the bad risk occurs, maybe we realize they billionaires have more information that other residents don't know about Bitcoin developments to come, and they probably know what to do before it happens.

I do agree that this situation with the Russian Oligarch Sanctions from most parts of the world will definitely open up thoughts to other forms of investments especially Bitcoin Investment since sanctions on your country can affect you at no time even if you are not involved in Government, I imagine whet the ordinary Russian Citizens must be felling right now.

They likely knew something bad was going to happen with their wealth before it did.  Everyone knew ever since the first day of the war that Russian billionaires would become a target of the West.

Bitcoin can save them, but if the West is so aggressive with the sanctions then more Bitcoin usage could backfire on us.  They want the Russian billionaires to go broke, they do not want them to find an escape.  So ultimately, they could take decisions that affect AND help us.  Think of the exchange bans for Russian IPs.  Sucks!  But simultaneously, this is going to lead to more people looking for Decentralized Exchanges.

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Regards,
PrivacyG

It's the masses that should be afraid, not the billionaires. Most if not all billionaires have all the connections they need to survive and live their lives normally. The masses, however, are pretty much screwed if they got their financial freedoms revoked.

In the case of current war tensions, the government enforces impartial regulations for foreign billionaires who own assets in the country, it is an important note if you are a billionaire United States must find a solution to keep assets anonymized to prevent unilateral regulator decisions to freeze assets.

Due to the impact of asset freezing, billionaires worldwide will analyze the use of assets not to violate government regulations, otherwise they have no choice but to get involved in Bitcoin.

I think all cryptocurrency exchange never heard about what asking by United State government after Russia move transaction and have planning with cryptocurrency as legal currency payment when getting suspend by all nation country. I think look feedback and track record how many time United State get cases and make bad news with cryptocurrency and they try how to make crypto gone as legal transaction payment but now try to get help for all exchange market stopping and banned Russia member after invasion to Ukraine. Never give positive respond with United State offering with cryptocurrency and keep have the same service for all people around the worlds.

It is difficult to come up with a rational view on this, as they are all looking for their own arguments from every angle. If we support this, it will be unfair to those billionaires, and vice versa. This is really a big problem. It's political, national, and global. Soon we will see what the consequences of this action will be.

We're not giving them advise and even if we do so, they're not going to listen to us. It's true that these billionaires have gone far and they're wiser than us and they know what they've been doing.
It's just so happen that we've got ideas that they might try to do even though they don't really need our ideas. Anyway, I'm very sure that if it's about hiding their wealth, they have mastered it already and likely they're aware of bitcoin's existence.

Well it's a two edge sword bitcoin on one hand provides you safety and privacy but on the other hand if you lose you bitcoin be it 1$ or billion dollar worth you can't recover it. So if you are moving your billion dollar worth investment on bitcoin blockchain then keep this thing in your mind.
Bitcoin till date is mostly used for asset storage. You still need to move to Fiat for your daily living.

Well i can say bitcoin can save our money from any problems that might possible to happen in our country especially when it comes banks.
For example in Russia, their fiats are freeze because of sanction so now they are trying to bypass it using bitcoin.  So surely it now a lifeboat to them despite of the situation..

Bitcoin will help them avoid punishment or unreasonable confiscation of assets, but the volatility of bitcoin will make them feel insecure about putting their assets in bitcoin. Not to mention the risk of putting all your eggs in one basket. Like us, bitcoin is good is the future but I am sure we will also split our money into different investments not just bitcoin.

They become billionaire for nothing, so for sure they already have a lot of back up plans with regards to their assets and investments. Maybe some of them have diversified and include bitcoin already together with some oil, gold and other assets. So I don't think they are going to be afraid and fearful at the moment. On the contrary they might have taken advantage of some situations around to go and multiple their money again. Russian Oligarchs though are different cases.

Exactly, they might have anticipated that one day this is going to happen so they are not afraid but they are going to survived. Who knows, they could have stash some personal money ready in case something happen. Cash is still the king and they could have use a lot of their cash to survive and live during this extremes time. It's the ordinary people that will have the problem to survived because in normal they might be having hard time what more if there is wwIII?

     You know what op, even without the issues that has been going on nowadays, the fear is still there and has been for a long time ago. But you have to consider, billionaires or at keast most of them are billionaires for a reason; - They are smart. And how many billionaires do you think are without bones in their closets? Probably few. To keep the long story short, the threat exists but not in a way that frightens the billionaires out of their wits.

Billionaires? Lol. The last thing anyone would worry about is how billionaires cope with these sanctions for obvious reasons. They are more than capable of handling themselves which is why worrying about them in this manner is silly.

Some of them have invested in BTC and other popular cryptocurrencies over the years and have made a killing through them.

When you hear bitcoin today, of course, many people think only rich people can buy, but we have the same opportunity to profit by daring to make a decision to buy immediately, don't just hear stories of successful people from bitcoin but immediately do it so that other people can tell.

I do not think that there would be any situation where American billionaires would get their accounts frozen from anywhere. It is easy to do that to Russia and Russians because we are talking about a nation that the west doesn't like. Hell it is obvious and known that NATO was build against Russia, no matter how involved they are, European union and all but NATO was against Russia and making sure they do not start attacking others (Didn't work well).

So, it is clear to me that billionaires from the USA do not have anything to worry about as long as their money is not in nations like Russia or China. Just stay away from your nations enemies, and you can invest into other west nations.

There’ll be no problem for them as long as they can do transactions in crypto, sanctions may not burden them a lot as long as they will find alternatives to all the banning that been put in them but if crypto like Binance or other exchanges will join in putting restrictions to the users that can be a time there will be a problem though billionaires can just go visit other countries or ask someone if ever they needed it.

I understand that many sanctions only work if people are using their currency instead of dollar or euro, therefore they will try to create their own digital one, but what can they do when the market is so volatile? I don't think they will risk their billions in crypto market. They won't be able to use exchanges too,because of the occasions like this - ,,Coinbase announced earlier this week that it had blocked 25,000 Russian-linked cryptocurrency addresses''-Ryan Selkis

Exactly on point. This is so foolish of the western government to make individuals suffer for their leader's decision. This thing that west has just done would ensure that no billionaires keep their investments in these western countries, they can at any time on their wish decide to block your access to your foreign assets, seize your accounts based on what suits them. I liked how Binance and other foreign exchanges rejected the plea of these government to seize crypto assets of Russian citizens, even then I would suggest one should always keep their assets in private key so that no government in the world can decide when you control the asset and when not.

You should look this in a different manner.If the government of all the country in this world, had legalized the bitcoin.Then the billionaire was not like to hold the money in crypto was your thought.But you had keep something in your life.When you had involved in certain things, you should look all the possible way of approach to get away from it or get solve of such things with a alternative methods.

This is being proven with the ongoing war between Ukraine and Russia. The sanctions have made the common public suffer and not the billionaires. The net worth value might've fallen, but there living hasn't got disturbed. Even in some articles this is being published that Putin is living his life as the past, but his act have made his people forget how they lived in before the war.

I think you are creating a problem where there is none, not all billionaires are being sanctioned, only billionaires who support Putin or who have had or have ties to Putin are being sanctioned, what are governments doing with these sanctions and for for billionaires to punish or make Putin stop this senseless war, that's what governments want. so we cannot think that all billionaires are being sanctioned. another point is that bitcoin will not help billionaires, billionaires will not sell their assets or take all the money they have to buy bitcoin


the people need to know how to choose their leader, this is another example that when the people delude themselves and choose a leader who is no good, it's always shit

About this regulation, for example, the Russians have millionaire investments in London in real estate, if they were confiscated, they would only be touching such a small percentage that they do not cause any damage to their assets.

I suppose they have anger but not worry, at least the great billionaires, it is obvious that some are in trouble but the great fortunes are so well protected that it is only a matter of waiting.

As a billionare you would probably have your wealth spent in many different classes of assets, so even if the get their bank account frozen, they will have offshore companies and whatnot.

Billionaires are not made up of one asset like you think. They are scared but, have an upper hand than those that got nothing left with them because of the War. A billionaire could have Gold, silver even diamonds that people don't know about. Freezing their account is a treat to them because of the business that made them a billionaire. Some of them in other countries that see stuff like this happen to their colleagues will learn to hold other tangible assets like Gold, bitcoin or save their funds in a vault located outside their country.

But what are the issues to be considered? Whether we're looking at the outcome of this event or looking at the cause of it, I feel like everything they're doing to control is necessary in response to the stressful actions. It may not be equal for the people involved, but are we living, studying, and working worthy of that right? Our obligation to life is to love and care for each other. Competition will only lead to us losing more and more of our rights.

But, who will think about it billionaires??? What about their superyacth that has smaller yacth and helipad on top of it!! Won't someone please think of them??? :((( All jokes aside nobody really cares about them.

There are like maybe 100 people, or even like lets say 5000 people in the world (not the forbes list, the real ones with hidden wealthy AND some of the forbes ones) that could literally pool their money together and turn this world into paradise. I am not even joking, people like Putin, mao, Saudi king etc etc, ALL the hidden wealthy people in the world, plus some of the forbes people could get together and make the world great. So excuse me if I do not care what happens to them.

This is funny,billionaires and bitcoin....there is no competitive because no need to go to bitcoin business any more because it already be a billionaire so is to help people to grow an also invest on people life than take it to bitcoin again you are a billionaire so please.

Bitcoin is decentralized especially when you are performing transactions on a decentralized exchange, or platform. Many billionaires or even average Bob are getting involved in Crypto some to have that much needed freedom and enjoying all the utilities using Crypto offer but some are strickly on a investment plan this type may not be avoiding the government except the government has put a Ban on crypto-currency.

I don't think they saw it coming because if they did then why would they keep on storing their wealth in banks? I believe that most of the millionaires and billionaires keep their money in the banks but that is reasonable because there are no bitcoins before but now that bitcoins are here, it's their chance to migrate their wealth only if they don't want their money to get stuck in the banks.

On what means bitcoin can backfire us? it will be more regulated or will get banned, something like that? But, that was expected I guess and I think some of these events are already happening but we are still stronger. I like it more when people started praising decentralized exchange because lately most people focus only centralized exchanges.