Celebrities Embracing bitcoin because of Divorce?

[DapanasFruit]

Well, anybody can use any investment tool for that matter to make sure that he or she can be financially independent in case something untoward happen like a divorce. But come to think of it, the best thing to do is to have a pre-nuptial agreement that must state that any party of the marriage can get involved with cryptocurrency and that the other one will not any stakes on it...unless of course a partnership agreement can be agreed upon during the marriage. Anyway, we know how destructive a divorce is so I think the best thing to do is both parties work hard to make a marriage a big success.

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[dataispower]

The thread is interesting to read twice, Bitcoin is currency every body want to have so is not surprising that footballers and music entertainment industry embrace payment with bitcoin. Most of them before was not regarding Bitcoin but i can see that they have seen the regulation and the values that is why some of them agree payment with Bitcoin , so having Bitcoin is like some one that have shares that gives return for long time, if i wish to work with good company i will like to pay with bitcoin

[Japinat]

Well, anybody can use any investment tool for that matter to make sure that he or she can be financially independent in case something untoward happen like a divorce. But come to think of it, the best thing to do is to have a pre-nuptial agreement that must state that any party of the marriage can get involved with cryptocurrency and that the other one will not any stakes on it...unless of course a partnership agreement can be agreed upon during the marriage. Anyway, we know how destructive a divorce is so I think the best thing to do is both parties work hard to make a marriage a big success.

I think all married couples are working hard just for their relationship to work and be successful so they won't end up being broken. Unfortunately, not all are lucky enough having their partners. This is where divorce enters.

However, its better to specify all your assets or investments, or even debts, be it in bitcoin, stocks, or real estate before making the prenuptial agreement. Particularly for big celebrities who also make big earnings. This will avoid the forthcoming problems that may arise in the future particularly to where the property will go after a marriage.

[bittraffic]

the household life of artists who always marry and divorce, making them turn to bitcoin to hide their wealth, this is a good idea, but I have never heard of this case, maybe this is the only way to hide their wealth, because if they divorce their assets they will definitely be sued by a lawyer, and will be processed by a judge, to make a distribution..

It won't be long there will be movies related to parents having a divorce while each of the member of the family just divides the cryptocurrency they have thru the help of the lawyer whos expertise includes blockchain wealth.

Parties hiding their wealth to each other is actually common to partners. You just cant know someone until they are caught, some people live a double life.

[fiulpro]

Even if they were holding their assets still it would not be a safe bet. Since at the end of the day they might be taken to the court and then they might have to pay the sum to their spouses as well. People cannot hide their assets that much KYC is everywhere therefore it's hard, you can definately use a paper wallet or something but then again it might be a bit hard but intelligent move to do that. Then again it's illegal and should be taken care of. Your spouse might already know about your bitcoins as well. In some countries it is considered as an asset so would be divided half and half no matter what. So at the end you can just get extra sued for it.

[Coyster]

I don't really care the purpose for which people want to use their Bitcoin, but honestly I actually thought out spouses always stood out as the one person whom we would share our seed phrases with, and other personal information about our Bitcoin funds in case of any unforeseen circumstance, but suggesting it's now being used to hide 'things' from spouses is now somewhat weird to take in.

But that said, if people choose to do it that way, then it's prolly not a bad idea if it works for them, after all, Bitcoin is a decentralized currency, and if people decide to be 'anonymous' from everyone, including their spouse, then that's fine for them as long as they do so without any traces whatsoever.

[kryptqnick]

In my country, not everything is shared 50/50 when filing for a divorce. In fact, any personal earnings remain personal, and any property bought by one person is considered personal as well. Only that which qualifies as property that was acquired in marriage with common effort is in question during a divorce. The op also mentions that Bitcoin is also shared, and questions can be asked about it in court, so they'd have to hide it if they don't want it to be shared, and false statements in court is an offense. So I don't think Bitcoin is being embraced over fears of divorces.

[coupable]

After reading the latest comments, i still can't release what do you mean by the term of "Divorce". I mean i can't imagine that someone (either it's a celeberity or not) would think using bitcoin as a plan b to cover his assets in case of divorce.
This is a weird funny scenario imo.
Imagine how someone will spend his live with someone while he has to hide his secret keys to avoid loss after divorce.

[romero121]

This is something very rare to happen. If such scenario happens, then it is upto the investigation team to clarify what all assets available and find the holdings. Further the court can give the judgement on the same. It can request the investigation team to find the capital spend and the net worth. From that the division can be done on such occasion of divorce.

[rdbase]

Such a weird topic but I can't deny that some people may have done it or in the process of doing so. The problem with these celebrities is that most of them started late. I mean it's probably harder to hide your fiat to crypto transactions now since KYC is already a norm among exchanges.

The only ones which I can think of at the moment who are very well-known and started early were Akon and Paris Hilton.
Akon did with establishing he will be building a bitcoin city and Hilton I think she bought a bunch of Lealana coins and apparently knows ethereum founder Vitalik and the other founder.
This article came up after doing a quick search.
https://www.cnbc.com/2022/01/26/paris-hilton-has-invested-in-crypto-since-2016-heres-why-shes-betting-big-on-nfts-and-the-metaverse.html
Think she recently got married but I doubt even if she did get divorced her current husband would  be after her other riches than her bitcoin and crypto holdings.

[Oshosondy]

This is something very rare to happen. If such scenario happens, then it is upto the investigation team to clarify what all assets available and find the holdings. Further the court can give the judgement on the same. It can request the investigation team to find the capital spend and the net worth. From that the division can be done on such occasion of divorce.

For anyone that like privacy, it will be hard for laywer, court or government agency in charge of that to know but people can make mistakes, if I am the one, it will be hard. It is what the court know that will be used to make judgement, not what they do not know. Bitcoin has open blockchain but some people are having privacy even to the extent it will be heard to link a bitcoin transaction to them.

[Henrobakkara]

It is good to be smart in life, even if the end is not good, I am not saying it is good to be bad, but to just be smart. Before wedding, it is not bad to have bitcoin holdings that your spouce will never know about. After you wed, it is not bad to have some holdings your wife will not be entitled too but your hirer, these are things you will never tell your spouse.

Call me naive but honestly that sucks, that prior to wedding you hide part or all of your  crypto holdings from your future wife. I mean, why the hell would I marry someone if I can't trust her in the first place?

Because we are regular people so we don't think like them. Trust me, most of those marriages are Businesses, the man knows this woman will be happy to take off with half his wealth WHEN divorce happens and not IF it will, cos it will in 80% case so there is less trust so the best asset you can hide now would be your Bitcoin

[Rikafip]

Because we are regular people so we don't think like them. Trust me, most of those marriages are Businesses, the man knows this woman will be happy to take off with half his wealth WHEN divorce happens and not IF it will, cos it will in 80% case so there is less trust so the best asset you can hide now would be your Bitcoin

If I had this view of marriage that my (future) wife is only after my money, I would never get married, as simple as that. Or I would ask for prenuptial agreement (good luck with that ). But seriously, getting into marriage and then hiding money from my family members looks like a nightmare to me.

[mardaed]

Isn’t spouses supposed to be that one person that you share secrets with and the other way around? Well, maybe it is true that marriage is somehow talked and viewed differently when it comes to sharing wealth by those who fear to lose their richness over the other person. Nonetheless, I would agree that prenup agreement would be better than to hide it from your partner.

[AakZaki]

Hiding FIAT to crypto transactions doesn't have to use KYC, there are some exchanges that don't apply KYC to buy bitcoins. Crypto asset storage can also be done in a personal wallet or hardware wallet that no one will know about.
It's not too late to hide fiat to crypto transactions, there are still many ways to do it. but if with a large number of FIAT, need some splits to do it.

[TelolettOm]

Actually, sometimes, a celebrity has made a certain agreement about the condition of their first finances before getting married. So they know how much the wife has and the husband has in the first beginning and they will note it in some notaries or legal experts they trust.
And this will influence how the divides of the wealth when someday they may divorce.
However, if this is about the finances that they get by themselves during the marriage, will it be better if they are also opened each other?

But, that depends on each case and also the person who is doing that. Sometimes, there are some financial consultants who also suggest an alternative about this, hiding some of the wealth. If they are hiding some of the wealthy buying Bitcoin, I think they have prepared it very well and will not sell the BTC for some years later. They will use it for long-term investment.

[Fortify]

Recently, I found threads on this forum about celebrities such as footballers, musicians, e.t.c embracing bitcoin and choosing it as a payment method for brand endorsements. On the second note: I thought about it this way; since they are an increase in divorce in their industry, especially the musicians. Could holding bitcoin be a plan B for securing their assets if their spouse files for a divorce?

In search of an answer: I read a Law Firm blog that said something about sharing bitcoin 50/50 during a divorce. They clarified that any bitcoin transaction that occurred while the holder is married belongs to the marriage fund and can be shared if divorce arises and vice versa.

How do they get to know the truth?

They claim that some questions when asked to a spouse, would determine if they hold bitcoin (that's if they answered correctly or genuinely).

They can track a spouse's bitcoin transactions through the person's hard drive.

They urge people to open up about every asset they hold. Including; bitcoin when in court.

After a brief thought, I concluded my thoughts about some single (Not married) celebrities. Observing the rapid increase in the divorce of their colleagues would see bitcoin as a plan B to secure some funds to keep them balanced even if they experience such ill-treatment from their spouse in the future. Because most celebrities like DR Dre fell off balance after his wife filed for a divorce.

What do you think about this?

In any civilized society that has come to certain agreements on how to split the assets of a couple at the stage of divorce, the medium of value storage is absolutely irrelevant. If one person in that couple happens to own 2 bitcoin and a court decides that all assets should be divided in half, that person would owe 1 bitcoin to the other person. People try all types of trickery to try to deceive the courts and break the law, but it always has the possibility of catching up to them. What you seem to be getting at with your post, is the suggestion that it might be a good way to hide assets - buying Bitcoin that can be hidden, as most people know that the methods you described are a pretty poor means of tracking bitcoin ownership and the trail can be easily broken. Encouraging dishonesty and associating it with Bitcoin would likely do much more harm to its long term prospects.

[adzino]

Recently, I found threads on this forum about celebrities such as footballers, musicians, e.t.c embracing bitcoin and choosing it as a payment method for brand endorsements. On the second note: I thought about it this way; since they are an increase in divorce in their industry, especially the musicians. Could holding bitcoin be a plan B for securing their assets if their spouse files for a divorce?

In search of an answer: I read a Law Firm blog that said something about sharing bitcoin 50/50 during a divorce. They clarified that any bitcoin transaction that occurred while the holder is married belongs to the marriage fund and can be shared if divorce arises and vice versa.

How do they get to know the truth?

They claim that some questions when asked to a spouse, would determine if they hold bitcoin (that's if they answered correctly or genuinely).

They can track a spouse's bitcoin transactions through the person's hard drive.

They urge people to open up about every asset they hold. Including; bitcoin when in court.

After a brief thought, I concluded my thoughts about some single (Not married) celebrities. Observing the rapid increase in the divorce of their colleagues would see bitcoin as a plan B to secure some funds to keep them balanced even if they experience such ill-treatment from their spouse in the future. Because most celebrities like DR Dre fell off balance after his wife filed for a divorce.

What do you think about this?

How do you guys even come up with thoughts like this? Holding bitcoin because divorce might screw them up? Don't even know what to say here...

And no, celebrities and footballers aren't accepting bitcoin because they are scared of getting divorced. They are doing it because either they found it interesting or they just want some attention from their people. Or they are getting paid to accept bitcoin and advertise for some crypto currency platforms.  Either way, at the end of the day, I am sure they all go back to fiat.

[Tony116]

-snip-
After a brief thought, I concluded my thoughts about some single (Not married) celebrities. Observing the rapid increase in the divorce of their colleagues would see bitcoin as a plan B to secure some funds to keep them balanced even if they experience such ill-treatment from their spouse in the future. Because most celebrities like DR Dre fell off balance after his wife filed for a divorce.
What do you think about this?

How do you guys even come up with thoughts like this? Holding bitcoin because divorce might screw them up? Don't even know what to say here...

And no, celebrities and footballers aren't accepting bitcoin because they are scared of getting divorced. They are doing it because either they found it interesting or they just want some attention from their people. Or they are getting paid to accept bitcoin and advertise for some crypto currency platforms.  Either way, at the end of the day, I am sure they all go back to fiat.

That's too much funny,
This is the first time I've heard of such a purpose,
I've never heard of anyone holding a bitcoin for fear of getting divorced.
Celebs hold bitcoin because bitcoin is a trend now, and celebrities like to follow the trend. The second thing is that celebrities can make a lot of money so they invest their lazy money in Bitcoin. Many times they may be hired from different exchanges to promote Bitcoin.

Anyway, although the trend of divorce is high among celebrities, it is very ridiculous for celebs to hold bitcoin for fear of divorce.

[DanWalker]

What do you think about this?

It is not entirely true that celebrities are saving bitcoin for fear of divorce, but they may buy coins to cover the cost of divorce or buy bitcoin with the money they receive from their husbands after divorce.

But that's right, all celebrities want to be in trend and Bitcoin is a trending topic or currency system.

On the other hand, the lifestyle of celebrities is very expensive and they need a lot of money to maintain this costly lifestyle and to meet that need, cryptocurrency or bitcoin is now a very suitable investment medium. So, they invest in Bitcoin in order to make more profit in a short time.