Under a gold based economy people were rarely sued because gold was generally stored outside of any 3rd party custodianship making it near impossible to seize or sometimes even know about.
Since our economy has moved towards counter party risk in all aspects of finance from bank accounts to real property, law suits have surged because those assets are easily obtainable by creditors.
With bitcoin being outside that counter party structure and therefore potentially completely outside any jurisdiction, will bitcoin start to become viewed of as the only asset that cant be confiscated and liquidated in a lawsuit?
Instead of spending thousands of dollars to set up a corporation or trust structure (potentially off-shore) just to protect assets from potential future creditors, bitcoin could be viewed of as "self protecting" because of its bearer-instrument nature. It would be near impossible to sue an individual and obtain access to their bitcoin through a co unter party if that bitcoin is held in a personal wallet.
Bitcoin might just bring an end to these never ending ridulous lawsuits that ONLY exist because financial assets today are so easily siezed.
A paper wallet might be the equivelant of an offshore holding company in terms of its ability to protect financial assets.
It should be a human right to be able to protect ones personal assets from personal liability, and it is, but before bitcoin that luxury was only available to the rich who were able to afford incorporating a company to hold assets or setting up a trust. Now it is available to anyone through a paper wallet.
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