Bill Cosby buys 750 BTC | Bitcointalksearch.org

letecia012

full member

Activity: 406

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Quote from: cellard on August 27, 2018, 09:42:40 AM

Reportedly Hollywood actor Bill Cosby has recently bought 750 BTC (around 5 $million at the time of the purchase) when he was advised to do so by his financial advisor, in an attempt to save some of his wealth from what's coming to him after all the rape accusations.

Im not sure if he is a rapist or not because I haven't looked at the evidence, but like or not, this is a clear use case of Bitcoin. His net worth is like half a billion USD, so I guess this is like a plan Z to keep 5 million which would be enough to live without working in case things go very bad for him.

I found this interesting nonetheless and worth mentioning here. Full news:

https://bitcoinexchangeguide.com/bill-cosby-buys-750-bitcoin-btc-worth-5-million-to-save-500m-fortune-from-wife/

If he bought 750 bitcoin for 5m$ that would cost 6,667$ each and with the current price of bitcoin maybe hie financial advisor has lot of things ti explain to him since he is currently losing almost -45% of his investment enough to pay legal attorneys to detend his case. Neverteless i hope he understand the longterm goal of his invesent so his financial advisor would not find difficult to explain.

Bes19

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I don't know if this is really true coz i can't find enough source about it. But if it's true then they did a very wise move. His advisor knew that bitcoin is a good investment. But they need to be patient and hold the btc for years coz if Bill will lose his patience now and sell his btc, then he will lose a lot of money since the price now compare to last year is ver different.

NavI_027

full member

Activity: 1232

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What a witty move of him for using one of the unique features of btc, which is decentralization, to escape such penalties (but not admirable of course). But the bottomline, escaping justice is very wrong thus he should still face all of its consequences.

Quote

Cosby’s escape from justice is an example of an illegitimate activity that many investors have been accusing. If Bitcoin and other cryptocurrencies are only considered to hide the truth, wouldn’t this only hinder user adoption?

Sad to say but it does. I always feel upset every time I hear this kind of news because it greatly affects the image of btc and crypto as a whole. I guess not only btc's loopholes are the main responsible for not achieving mass adoption, I think serving as an instrument for doing evil stuffs does.

crwth

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https://linktr.ee/crwthopia

I think it's a great idea too, a wise decision, just like the others have said, but I think it is not true. I researched some of the possible resources (of course on the internet only), and I stumbled upon this
https://www.ccn.com/gossip-mag-claims-bill-cosby-is-using-bitcoin-to-hide-his-fortune-hes-probably-not

I wondered if there's an update, but I didn't get to see some sources. We all know Bill Cosby, and he is pretty high profile, like, in the article, I agree that it would be hard for him to buy 5 Million Dollars worth of Bitcoin without raising any questions to him, and is there is a specific exchange where he did the transactions? And even if he managed to, he will still be questioned on how many assets Cosby has, he can't hide it forever (if it's true). Sad for him though but he is still rich I think after everything.

Caladonian

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Merit: 540

Quote from: daarul50 on February 04, 2019, 04:54:18 AM

A very good decision was taken by Bill Cosby because by investing a portion of his wealth in bitcoin then when he was found to be truly guilty his wealth would probably be seized or prosecuted by victims who reported themselves as compensation for the treatment carried out by Bill Cosby. No wonder he took steps to secure his wealth against bitcoin because money that is in digital form does not seem to be tracked and disturbed by any party other than himself because of the anonymity applied by blockchain technology.

Yes indeed, and who knows what will happen after few years, there's a lots of potentials that the value will rise high again, his financial adviser
seems to have a good knowledge with crypto's future progress, knowing what laws will accompanied his conviction this move will allow him to
keep portions of his wealth, whatever the results he still have source of funds which can be part of his frozen assets.

Another positive advantage that people can gain from trusting bitcoin, will see what fate will bring Bill Cosby now that he's found guilty with his case.

daarul50

legendary

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A very good decision was taken by Bill Cosby because by investing a portion of his wealth in bitcoin then when he was found to be truly guilty his wealth would probably be seized or prosecuted by victims who reported themselves as compensation for the treatment carried out by Bill Cosby. No wonder he took steps to secure his wealth against bitcoin because money that is in digital form does not seem to be tracked and disturbed by any party other than himself because of the anonymity applied by blockchain technology.

puprush

newbie

Activity: 34

Merit: 0

Quote from: RodeoX on August 27, 2018, 10:42:27 AM

If only it worked that way. You receive no legal protection whatsoever by turning your dollars into BTC. He will still owe the money, it does not matter that he bought a house with it or bitcoin. His estate will be seized, bitcoin and all. If he thinks he can just refuse to give up his private key then he will spend his life in a cell on contempt charges. Not smart.

An asset that is digital cannot be required to be turned into FIAT, per untied states law.

Joeyvicky

jr. member

Activity: 140

Merit: 1

That is such a great move by the actor. It is always advisable to make better investment becaus e nobody can tell what tomorrow will unfold. With such a huge investment am sure he will never regret this decision despite thes drop in prices he made the biggest mistake to invest in bitcoin. Do not be deceieve for bitcoin is the solution and nothing else, invest now and rejoice tomorrow.

levvv

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Activity: 532

Merit: 17

Quote from: cellard on August 27, 2018, 09:42:40 AM

Reportedly Hollywood actor Bill Cosby has recently bought 750 BTC (around 5 $million at the time of the purchase) when he was advised to do so by his financial advisor, in an attempt to save some of his wealth from what's coming to him after all the rape accusations.

Im not sure if he is a rapist or not because I haven't looked at the evidence, but like or not, this is a clear use case of Bitcoin. His net worth is like half a billion USD, so I guess this is like a plan Z to keep 5 million which would be enough to live without working in case things go very bad for him.

I found this interesting nonetheless and worth mentioning here. Full news:

https://bitcoinexchangeguide.com/bill-cosby-buys-750-bitcoin-btc-worth-5-million-to-save-500m-fortune-from-wife/

But his money in btc now has dropped because the value of btc has gone to the bottom currently.
If he didn't plan to hold his btc for long time, i think he won't be able to save the fortune from his wife.
Anyway, buying btc now is better than buying earlier because it is even cheaper than before.

canadian33

newbie

Activity: 23

Merit: 0

Because Bill knows what to do, he doesn't miss the opportunity to make a profit, as long as it is possible. Guys, what do you think, if the price of bitcoin is almost the lowest now, do you need to sell?? This is complete rubbish. For some reason everyone forgot about the main rule - buy at a LOW price, sell at a HIGH price. It's simple. And Bill just got it right on time.

gheawari431

newbie

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Quote from: burky156 on December 05, 2018, 08:33:56 AM

It means that his financal advisor is someone wise. I would believe that the bitcoin price would not fall anymore and it is right time for invest. And ofcourse this is very good news because the famous people would give our market great benefits when they buy bitcoin or cryptocurrency.

Bill Cosby is a well-known Hollywood actor, of course his financial advisor will not give arbitrary input without calculated data and predictions. So. I believe that in the future bitcoin will rise again, because trust is still high in the community. Bitcoin will become an expensive digital currency.

cahbagus555

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Quote from: cellard on August 27, 2018, 09:42:40 AM

Reportedly Hollywood actor Bill Cosby has recently bought 750 BTC (around 5 $million at the time of the purchase) when he was advised to do so by his financial advisor, in an attempt to save some of his wealth from what's coming to him after all the rape accusations.

Im not sure if he is a rapist or not because I haven't looked at the evidence, but like or not, this is a clear use case of Bitcoin. His net worth is like half a billion USD, so I guess this is like a plan Z to keep 5 million which would be enough to live without working in case things go very bad for him.

I found this interesting nonetheless and worth mentioning here. Full news:

https://bitcoinexchangeguide.com/bill-cosby-buys-750-bitcoin-btc-worth-5-million-to-save-500m-fortune-from-wife/

Many object to hide our wealth and bill cosby choosing bitcoin. Bitcoin is cryptocurrency like others currencies, it can use as we want. We can burry it in back yard or others. Its all about perspective and i think bitcoin not a money laundering tool

Dexion

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Activity: 812

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Thank you for the information, in my opinion, he chose a good decision, he must make a long-term investment strategy, the market today is very bad for taking profits quickly.

even some world artist is also a trader like Michelle Williams.

I think that their contribution can make bitcoin stable, and can go up slowly.

Marbelli

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EndChain - Complete Logistical Solution

we see how it is possible to usefully find a use for bitcoin, since it is practically indiscriminate for federal services and nobody can take it away from you

Sumo

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I think that such large investors allow bitcoin to develop. If it were not for such large investments, bitcoin would develop much more slowly and trust in it would be much less. So I hope that people like this bill Cosby will be as many as possible.

ardhigalau

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Activity: 316

Merit: 100

Mr. Cosby is so fanatical or influenced by news in the media? I'm sure he secretly sells bitcoin little by little. Since the date he bought the bitcoin, he has lost a lot of profit if he still holds the bitcoin from now on.

Gary Levanevskii

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I think that he is investing for a long time. I think that this is a positive signal for the market. More and more large-scale buyers appear.

minhlee95

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DIA | Data infrastructure for DeFi

Such a large investment in bitcoin deserves respect. And also adds confidence to bitcoin, as the purchase of 750 bitcoins is clearly a balanced and deliberate decision. I hope that our hopes will come true and all our investments are not in vain. And such a major purchase of bitcoin gives me more confidence.

Udrujec

member

Activity: 308

Merit: 12

This is great news for bitcoin, as it is a very large and serious investment in cryptocurrency. If a person is not afraid to invest such a huge amount of money in bitcoin, then it means that we, just small investors, should not be afraid of cryptocurrency.

Pyr3x

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Activity: 602

Merit: 100

I don't know who Bill Cosby, but the fact that he spent so much money on bitcoins says a lot. Certainly advice about the purchase of bitcoin gave it some very financially literate people. And this once again confirms that investing in bitcoin is truly profitable.

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