🧵 1/8 The risk of property confiscation (and how
#bitcon
helps).
Jews in Nazi-Germany were humiliated by having their property confiscated. Families who secured their wealth in physical property lost everything overnight.
8
37
146
Replies
2/8 The confiscation of property is used as a weapon by totalitarian states. There is currently no strong evidence in the western world that our fundamental right to property is being restricted. However, history shows us that this can change quickly.👇👇👇
2
1
24
3/8 On April 26, 1938, the “Decree for the Reporting of Jewish-Owned Property” issued by the Nazis took effect, requiring all Jews in both Germany and Austria to register any property or assets valued at more than 5,000 Reichsmarks (around $34,000 today).
1
0
23
4/8 After their property was confiscated, many German Jews were unable to leave Germany for financial reasons and were therefore at the mercy of the Nazi henchmen.
1
0
18
5/8 The auctioning off of Jewish property was very popular in Nazi Germany. Like here in the city of Lörrach, where such an auction can be seen, happily attended by many Germans.
1
0
21
6/8 The fate of the Jews in Nazi Germany is a painful history lesson that teaches us the importance of property rights and the need to store wealth in a digital asset like
#bitcoin
that is difficult to confiscate and easy to move or liquidate in times of crisis.
1
0
28
7/8 Little can stop you from selling or taking your
#bitcoin
with you. You are not dependent on lengthy bureaucratic processes. In case you need to relocate, you just need to memorise 12 words. The backup (seed phrase) for your bitcoin wallet.
1
0
23
8/ If you own
#bitcoin
, you could escape a war zone, restore your bitcoin wallet with the 12-word backup (seed phrase), and regain access to your wealth.
0
10
48
@leonamschel
This also has massive implications for the Congolese for instance! Who if their economy and property rights were bolstered by
#Bitcoin
and miners utilized the hydroelectric capacity of the Congo River, their economy could explode 🤯 and that would affect all of Sub-Saharan Africa
1
0
4
@leonamschel
Great write up Leon really providing tons of value and insight, appreciate it! 💪🌟
2
0
5
@leonamschel
My family lived in Germany at that point in history. Ugly times. Can’t believe other Germans happily bid for property at those auctions. Just shows how badly corrupt the society was. Thanks for the article.
0
0
2
