Federal Magistrate Rules That Fifth Amendment Applies To Bitcoin Keys?

[Matthew N. Wright]

Does this apply to Bitcoin keys? If so, can we all just play dumb when the IRS comes by?

http://www.wired.com/threatlevel/2013/04/encrypt-your-data/

http://www.volokh.com/2012/01/24/encrytion-and-the-fifth-amendment-right-against-self-incrimination/

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[repentance]

Does this apply to Bitcoin keys? If so, can we all just play dumb when the IRS comes by?

http://www.wired.com/threatlevel/2013/04/encrypt-your-data/

http://www.volokh.com/2012/01/24/encrytion-and-the-fifth-amendment-right-against-self-incrimination/

There's precedent regarding the 5th Amendment being invoked in taxation cases.  The amount of your income isn't privileged although the source can be.

A careful reading of Sullivan and Garner, therefore, is that the self-incrimination privilege can be employed to protect the taxpayer from revealing the information as to an illegal source of income, but does not protect him from disclosing the amount of his income.

If the IRS made the argument that they needed the keys in order to establish the amount of your income, you probably couldn't use the 5th Amendment to get around having to comply with that demand even though you could successfully use it to avoid disclosing the nature of any illegal activity by which you acquired that income (I learned today that you can likely enter "5th Amendment" on your tax return when disclosing income from illegal activities).

[BTC Books]

(I learned today that you can likely enter "5th Amendment" on your tax return when disclosing income from illegal activities)

You can.  I'll bet they love it, too:

"Hey Fred - pass this idiot on to the FBI.  But make sure we get max tax out of the guy first..."

 

[virtualmaster]

Key Disclosure Laws Can Be Used To Confiscate Bitcoin Assets
http://www.forbes.com/sites/jonmatonis/2012/09/12/key-disclosure-laws-can-be-used-to-confiscate-bitcoin-assets/
If you don't say your private key then you will be jailed up to 5 years prison(you will be accused with the manipulative word terrorism) and after it your brain will be treated in a psychiatric clinic:
http://www.theregister.co.uk/2009/11/24/ripa_jfl/
After your brain wallet passphrase is recovered by psycho-doctors the bitcoins will be used to finance secret operations to kill people in foreign countries(this is not terrorism).

[Matthew N. Wright]

So what country are we all moving to?

The country of Las Vegas, Nevada.

[crazy_rabbit]

I think the trick is to never have the conversation come up. Keep multiple accounts, one that the world knows about and can track you with. Another where you keep your real savings, and pinch off of it every one and awhile making sure to filter the coins very carefully.