Things can always get very dystopian, but I don’t see how they could possibly enforce that. What about people who lost their seed phrases or lost their bitcoin through scams? Currently, gifting bitcoin is not a taxable event. What about people who gave all of their bitcoin away? How could they ever know who even has it anymore? And when they try, how can they get people to comply? Acknowledging the fact that full dystopia scenarios are always possible. But they still have to figure out a way to force it out of people.

Replies (2)

It all depends how desperate they get doesn't it? if we're talking a full-on adversarial " we are disintermediating the trillion dollar rent seekers who run the world" then I don't think it's absurd to suggest they would just throw you in a cage until you cough up your Bitcoin. the current crop of new coiners seems to believe they're just going to quietly fade into irrelevance. that is incredibly naive.
Many will fold already and sell what they have on the first letter they receive. The remaining will resist as long as they aren't threatened with jail especially if you have a family. You will be held accountable to prove that you gave it away, probably name names, addresses. They will switch to guilty until proven otherwise. For the lost coins I assume they believe you as long as they don't move again, but I'm sure that second the coins move again some friendly Fed is knocking on your door. I know the future is unknown and it couldn't play out as I think it will, but with all that censorship and state overreach we are heading into that direction.