Hiding your assets from the government via BTC - page 2.

EhVedadoOAnonimato

hero member

Activity: 630

Merit: 500

Quote from: dogisland on January 30, 2012, 05:02:21 AM

The problem with hiding money in Bitcoin would be it's volatility. If the price falls you would lose a large part of your assets.

And the problem with hiding money from governments in general (bitcoin or not) is how to spend it after, without getting caught.

I mean, you can spend on small consumable items, no problems. But go buy yourself a house or even a good car with undeclared money, and things start getting more difficult.

N12

donator

Activity: 1610

Merit: 1010

Better to retain only 4% (maximum from 32 to 2, and that happened over a period of half a year, not suddenly) than 0% because all is seized, IMO.

dogisland

sr. member

Activity: 262

Merit: 250

The problem with hiding money in Bitcoin would be it's volatility. If the price falls you would lose a large part of your assets.

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

The real reason he got shut down was megaupload was about to bring out a service where 90% of revenue went back to the artist. Obviously the music industry being what it is they called their mates in the FBI and got it squashed.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Phinnaeus Gage on January 30, 2012, 02:43:39 AM

Quote from: FreeMoney on January 30, 2012, 12:50:37 AM

living on couches
working anywhere I please
holding private keys

I'm sure Matthew's going to come along and snatch this up and publish it in the haiku section of Bitcoin Magazine.

~Bruno~

Lol, that's fine, just don't give me credit.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: FreeMoney on January 30, 2012, 12:50:37 AM

living on couches
working anywhere I please
holding private keys

I'm sure Matthew's going to come along and snatch this up and publish it in the haiku section of Bitcoin Magazine.

~Bruno~

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: jim618 on January 30, 2012, 02:18:07 AM

Quote from: cbeast on January 30, 2012, 02:12:41 AM

I wonder if there is a Sofa Net for vagabonds looking for a place to crash?

couchsurfing.org

Now it only needs a smartphone app and bitcoin payment and I'll pack my knapsack and sleeping bag.

jim618

legendary

Activity: 1708

Merit: 1066

Quote from: cbeast on January 30, 2012, 02:12:41 AM

I wonder if there is a Sofa Net for vagabonds looking for a place to crash?

couchsurfing.org

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: FreeMoney on January 30, 2012, 12:50:37 AM

living on couches
working anywhere I please
holding private keys

That's the life. Wink

I wonder if there is a Sofa Net for vagabonds looking for a place to crash?

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Kim seemed to want a ton of shit. But you could be richer still leaving nothing to be seized.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

living on couches
working anywhere I please
holding private keys

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

I have thought about this and noted that you can hide a much value as you want on one physical bitcoin in your pocket. Or even better yet, with a deterministic wallet you can hide as much wealth a you want to in your head!

Good luck trying to seize that - well waterboarding might do the trick.

N12

donator

Activity: 1610

Merit: 1010

Do you think Kim Dotcom could have used Bitcoins to do so, instead of having everything seized? If I think about it, it makes lots of sense for rich people to diversify a certain percentage into BTC.

Topic: Hiding your assets from the government via BTC - page 2. (Read 3110 times)