Imagine a hacker got $750k in bitcoin or ethereum heist. What excuse will they use when cashing out and speaking to the tax authorities? Will they simply lie about mining? (Blockchain analysis is a thing so I doubt)
Now what if the amount of hacked value changes to say $30 millions. Are banks not going to get suspicious about how those guys generated so much money?
There are various semi-legal or illegal ways of withdrawing funds from the country, there are countries where no one will ask you about where you got this money from. You put this money at interest and live on the money earned from this contribution. This is just one way. There are many other schemes of action. But it’s better, of course, not to do anything against the laws. It may end badly. And then they will show you on TV that you stole the money. Moreover, it’s even more important not to harm others. After all, someone had all their savings in cryptocurrency, and then some person steals them. Karma will always come sooner or later, and balance injustice. I also share this opinion and agree that stealing is bad. However what if, you magically identify a vulnerability in an ethereum account specifically worth $30 millions in ETH. 99% of hackers will not return the amount, 0.9% will return the value / not touch the ethereum, the remaining 0.1% will ask for a 5-10% reward for returning the amount. Which one are you? |
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Cash out in small amounts in person. It is not that hard.
Forget about ECHELON. That 1970-ties thing is outdated just as much as paranoid hippies and aliens with anal probes. Now the threat is malware and cloud services that logs and keeps everything. Obfuscate the transactions trough some mixer and green address and never link the coins with your person.
Cloud services keep log of everything? I didn't know that. So you're telling me that a hacker using AWS to host their deep web / dark web website is not safe? I thought cloud services would mind their business lol It's good on one side, but I feel there is a spy everywhere now. Or maybe you mean cloud services like those on our smartphone? In any case I think that cashing out in small amounts in person may not be a viable solution. At the end you will still get to have your houses and cars as a hacker and someone gets suspicious there. I doubt a hacker would get into drugs. They would rather find a way to do money laundering rather than getting into other illegal stuff I guess. There was a case of someone who tried to lie that they mined, but with blockchain analysis someone found out that this is not how it works and the guy got caught  The alternative of buying hashing power sounds decent  In any case, the purpose of the topic is to find as many ways a hacker would try to "cash out", good or bad does not matter. |
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Imagine a hacker got $750k in bitcoin or ethereum heist. What excuse will they use when cashing out and speaking to the tax authorities? Will they simply lie about mining? (Blockchain analysis is a thing so I doubt)
Now what if the amount of hacked value changes to say $30 millions. Are banks not going to get suspicious about how those guys generated so much money?
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You need to be disciplined in your daily schedule.
I sleep 6 hours, work 10-12 hours. spend the rest with family and friends
Sometimes maybe work is not that busy or you depend on something to be finished before you move on so you can talk with a friend over phone.
There are circumstances however when maybe you need to work 14-15 hours a day and that leaves you with no much time. It's just life
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Hi Jet Cash, thought I should share my work experience on the trading floor of a big company in London when I was 17  Never ever make decisions based on fundamentals. We must always force ourselves to look into the details and then abide by those laws, even if the truth hurts us. For example, you can see Ethereum following a down trend (bearish). This fundamental may tell you to stay away from investing in this because it's risky (this "hurts"). However If we look at the details, that Ethereum 2.0 is coming, that last year in December Ethereum was also following a down trend but in March-April it went to the moon, then I am sure you will also invest in Ethereum like I did. When I worked on the trading floor we used to do more discussion and reading news than trading. Some unserious discussions were on the phone with other department members (group calls), while others needed physical discussion (face to face). Investing yourself is somehow risky because you only have your point of view. Getting a team of like-minded people (who invest) but with different opinions / backgrounds would be beneficial. Regarding stock companies you will see that a lot of them have debts. There are some companies in specific that only have debts and follow a huge stock downtrend from time to time (big go down!). We were told in the trading floor that sometimes, some companies take loans and as collateral they use their shares. I give you $110million in shares and you give me $100 million loan. I do not repay my loan (tax avoidance  ) and you, mister bank will cashout the stock. The company will use the loan to bring the stock further up so it's not really bothering them long term however this is not abused, just done from time to time. The best times when you buy shares is to look at the latest date a company repaid their debt if you find any information. They will usually make the news. I also recommend you to subscribe with Bloomberg which for me has been a successful source of information. Keep in mind I stopped trading for a while now and my source of information comes only from experience made about 4-5 years ago. Maybe things have changed, maybe not |
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A Virtual Private Server? Maybe you could expand on the reasons why you need it so the community could help you in a way that maybe you don't know. I doubt there are any free virtual private servers but you can always try free cloud hosting / free linux instances. For example, for one year AWS offers free EC2 instance but you need to put your card for verification purposes. Read here about VPS vs Cloud hosting https://www.hostgator.com/blog/cloud-vs-vps-hosting/ |
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I am empathetic and wish you good luck because you need all of it. If there is one thing I learnt is that a man of success, no matter how motivated he should always keep his composure and never seek to make money but rather provide / create something of value while following their purpose. There are other skills you should consider which include: selling, learning information very fast, reading lots of books and risk management. You are not a lost case as now you have everything. You hit the bottom, shark! You are ready to go to the top where nothing else will ever scare you. The most important thing is to never forget this experience and allow its learnings to shape you in a better person. You have $200k in loan to repay so what? Becoming a millionaire can cover your costs. Maybe it's time to stop being greedy, and actually follow your passions. I am providing you with an opportunity to join my potential unicorn company. I know you're not from UK but there is always a chance. I have posted my link on reddit: https://redd.it/ed0md3 If this is for you and you are ready to make a change, be a person of value rather than seeking value, then you're welcome to join. This offer is available for everyone who finds themselves between the description of requirements on reddit |
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I really appreciate hunting those scammers, but the worst part about scam hunters is that sometimes projects with good ethical standards
and, in case of materialization high potential to be useful are also sometimes taken as scams. This may affect the overall outcome and potentially
affect this industry and forum more than those scammers.
The only way to avoid scam projects is to educate people to avoid scam projects.
I will give you another context. Assume you made $5 million in 2017 from Bitcoin mining (2015-2017) and you cashed out in a bank because you wanted
to buy a house or a car. The bank will usually involve police, investigators, digital forensics analysts, etc. because they think you did money laundering or
something. This is a case where you are perfectly legal yet in that moment I promise you would feel like a criminal.
I don't want us to take this as a model. Education is the only way you stop scammers and improve this forum. Maybe badges are a good idea but I would
use them in a different way / context.
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I love discussing cybersecurity related things so here are my thoughts
Having a dynamic password sounds like a visionary idea, but what we lack is a leader to identify the objectives to achieve that.
In the current state, we define authentication methods based on the following characteristics:
Something a user knows such as Password / PIN
Something a user is such as Fingerprint, Voice Recognition, Iris Scan
Something a user has such as a physical smart card, security token
Maybe when Elon Musk will create his brain chip for humans, we will be able to use it to communicate with all databases
in the world where we are subscribed and force them to use a "dynamic password". If today I want my password to be 420420420HolaAmigos then
all I have to do is think about it. I hope my brain chip will use post-quantum encryption methods!
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Assume you have $650,000 in Bitcoin.
You exchange $300,000 into fiat and this is your only
source of income. You keep $180,000 after paying California tax.
From the $350,000 you are left with, you purchased a
$150,000 car with bitcoins.
You did not convert money into fiat so there is no way the
government will know you spent another $150,000. You can
always claim a rich arab friend gifted the car.
Is this money laundering?
What if instead a car it was a house?
You can watch the movie The Laundromat, it's based on the true story of Panama Papers, they explain in a comic way how money laundering works.For me was a good movie, maybe because i like how Antonio Banderas and Gary Oldman plays. I will call my girlfriend, tell her I want to Netflix and Chill and actually watch the movie. Very nice suggestion, as a guy who rarely or never watches movies I will give this one a try. I read books about money laundering and tax evasion (just random readings out of boredom) so I feel prepared for this movie |
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It is hoax to make fun of newbies. Mariana web does not exist. Various closed forums on Tor hidden services and boards on Frost client running on top of Freenet is as deep as it goes.
To clarify more the Red rooms does not exist. There is no real life streaming of torture or murders on deep web. There is some occasional streaming of murders on Facebook live or Periscope but I will not call Facebook a darknet. The darknet also is not multi million industry of child porn sale. Most child porn are available to everyone for free on Freenet. Some retards try to resell freely available child porn on Tor services or record themselves fuking own kids.
Do not listen to government or feminturd bullshit.
I finished my sendable merits but this ^^^ This is gold. As a person involved in Ethical Hacking & Cybersecurity, I get to know so many individuals involved in digital forensics on deep web, yet it is not as bad as people think (keep in mind bad stuff still happens there) . On the Freenet it's much more difficult to find illicit activities, this because there is no server side processing or databases. You may still find CP on Freenet as my friend above said, however the community is likely to complain and maybe all links leading there will be obfuscated. If you want to learn more about freenet listen to Aaron Jone's speech: https://www.youtube.com/watch?v=zu9gM3_gIfM&list=PLaVOO-BHQYREFho-Vak2NeBOuaLB153e_&index=10 |
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I love this topic because it's structured!
1. Current Passport allowing them to travel outside of their country
I can travel anywhere in Europe and in some countries for a limited amount of time without a visa
2. Financial means to travel outside of their country
Yes, I am very lucky to say this.
3. Time to travel outside of their country (free time away from work)
Yes, also very lucky however I would have some pressure on myself thinking I should be doing
something else. It's our social responsibility isn't it?
4. Desire to travel outside of their country
Switzerland's Crypto Valley I am coming for you baby!
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I really hope in 2020 we will have strippers with QR codes tattooed so I can scan and technically throw bitcoin at them
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I have a project and I want to make millions of queries to the ethereum blockchain. I could use a solution like etherscan api but that is a little bit slow. Infura is better but still not performing as I want. I tried to run my queries on a friend's machine who has ethereum blockchain on it and damn, that was soooooo fast and smooth. However my friend is 150 miles away and I don't want to visit him every single time. I decided to install an ethereum node and a lot of people suggest installing it on an ssd. My ssd with 60gb available of 237gb with windows installed and some programs does not have enough space. I tried to install it on my HDD but damn, as others said that thing is sooooo slow. I even use the --syncmode="fast" and --cache=4096 but it doesn't make a big difference. If I buy an external SSD of 1TB and Transfer speeds up to 540MB/s, would it be safe to run ethereum blockchain on it and would it perform like my SSD? The one I think about (UK): amazon linkIt has up to 500 MB/s. My actual SSD is very fast. It has a sequential performance rates of 926 MB/s, Deep queue 4k of 749 MB/s and Random 4k of 62 MB/s. So do you guys think I am doing a good choice? Edit: One thing worth mentioning is that I have already downloaded the 140 something GB on my hard disk. It takes a lot do confirm the headers, transactions and some other checks that run in fast mode. |
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I think the next big thing is Artificial Intelligent , Wher Robots get better than humans and win the war .
lol. There would be no "war". When the singularity happens, AI will instantly figure out the best way to kill us and do it. AI doesn't need heat, oxygen or pressure. This is the biggest threat that most people ignore unfortunately. I wish we had some sort of rules for AI where it would be required by law for those to have a "switch off" option. You activate it through cloud or something and it makes the AI dumb or it kills it completely. The scariest thing that I can think of is an army of AI robots using blockchain to communicate. That would make all AI instantly get information from each other :O |
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You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.
Show me at least one project that has a coin backed by gold? Even if there is information about it on the project website, it does not mean that it is. Tell me about the process of investigating how a coin is backed by gold and I would do it. See? The problem is that we don't get enough transparency for so "backed" coins. However I don't think backed coins are bad, fake backed coins however they are! (unless they are constantly fake backed so it looks like they are realistically backed) |
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Assume you have $650,000 in Bitcoin.
You exchange $300,000 into fiat and this is your only
source of income. You keep $180,000 after paying California tax.
From the $350,000 you are left with, you purchased a
$150,000 car with bitcoins.
You did not convert money into fiat so there is no way the
government will know you spent another $150,000. You can
always claim a rich arab friend gifted the car.
Is this money laundering?
What if instead a car it was a house?
First of all, selling of BTC isn't usually taxed. It's the profits that are taxed as capital gains. You could do some accounting tricks to claim you acquired them with certain costs, even if it's cost of labor. Nobody would advise you to tax yourself at a virtual 100% profit, except maybe your local tax authorities. Gifts on the other hand, are very much taxed. Very interesting and good to know. Time to do Warren Buffet accounting tricks and pay lower taxes than the accountant herself Assume you have $650,000 in Bitcoin.
You exchange $300,000 into fiat and this is your only
source of income. You keep $180,000 after paying California tax.
You can
always claim a rich arab friend gifted the car.
Is this money laundering?
What if instead a car it was a house?
I doubt the IRS will simply take your word that "a rich arab friend gifted it to you". But no, that's not money laundering, it's tax evasion . If you really have such an amount of BTC (which I doubt) better visit an accountant. I am sure there are many ways to cash out a part of your BTC and pay as little as possible in tax, like an off-shore or whatever  I don't have that amount in Bitcoin and never said specifically I have. Even if I had I would keep it secret and not flex it here I am just giving a special case and looking to discuss it with people of bitcointalk. The off-shore idea sounds good but seeing Panama Papers and everything, I really believe you need to know someone doing off-shore things so you can learn to do it yourself without being caught. I read a book about it and things are more complicated that they look on the surface hahaha How about if there was a service where you can take fiat loan and use crypto as collateral and you would never repay the loan? Is it a voila situation for mister tax man ? In any case guys, I think the safest solution would be to get a singapore / hong kong girl and move there for 1 year, cash-out and return back. |
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Good luck my friend
God bless people who are crazy enough to take risks. As Steve Jobs said in his Apple advertisement,
"This one is for the crazy ones. You can love them or hate them, but one thing for sure is you cannot ignore them"
The number of comments on this post is a proof of that. I really hope you will be blessed and earn big from this
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From the $350,000 you are left with, you purchased a
$150,000 car with bitcoins.
You did not convert money into fiat so there is no way the
government will know you spent another $150,000. You can
always claim a rich arab friend gifted the car.
Is this money laundering?
No, that's tax evasion, a different crime entirely. You owe capital gains tax any time you trade item X (such as bitcoins) for item Y (such as fiat, or a car) and item Y is worth more than what you originally paid for item X. You also generally owe tax on gifts if they are over a certain value, so your bogus story about rich Arab friends won't actually help your case at all even if anyone believed it. It's also illegal to drive unregistered cars on public roads, and if you do ever register your new car, there goes the "there is no way the government will know" part of your plan. What if instead a car it was a house?
Real estate sales are also recorded with the government. There's no way to buy a house without the government knowing. Thanks that's a great answer. I wanted to say tax evasion but said money laundering by mistake. This government knows everything though |
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Assume you have $650,000 in Bitcoin.
You exchange $300,000 into fiat and this is your only
source of income. You keep $180,000 after paying California tax.
From the $350,000 you are left with, you purchased a
$150,000 car with bitcoins.
You did not convert money into fiat so there is no way the
government will know you spent another $150,000. You can
always claim a rich arab friend gifted the car.
Is this money laundering?
What if instead a car it was a house?
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