Celebrities Embracing bitcoin because of Divorce?

[Accardo]

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?

[hatshepsut93]

If someone is afraid of potential divorce, they can just make a prenuptial agreement instead of trying to hide their wealth, which rarely works out. Imagine someone successfully hid the coins during the divorce, then a year later they use the coins to buy a new house, and lawyers notice this and calculate that they have used some hidden money to do that, so they get investigated and penalized.

My explanation why celebrities engage with Bitcoin is that some of them are probably sponsored by Bitcoin-related businesses, so it's essentially advertising. And some are simply genuinely interested in the alternative form of money and investing.

[Yogee]

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.

[Mahanton]

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.

This is definitely true on which its a little bit late since platforms now already strict specially when already dealing with crypto to fiat conversions on big amounts
which it would really be that typical or normally can be traced up.I dont know on why people do really mind off on getting rid of their fiat and wont tend to
have that conjugal kind of mindset on where they wouldnt be hiding something from their husbands or spouses.

[AmoreJaz]

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.

This is definitely true on which its a little bit late since platforms now already strict specially when already dealing with crypto to fiat conversions on big amounts
which it would really be that typical or normally can be traced up.

but if you are using your own wallet and not third party wallet or exchange, you won't need to submit any vital info. you can actually save your satoshis in btc core or any other noncustodial wallet, without informing anyone.
but i prefer to have prenup agreements if you are worried about your assets in case your relationship don't work out. this is not because you don't trust the other person but it will save you lawyer's fees and all if in case you parted ways with the other person.

[sheenshane]

We can't blame them if they will hide their wealth on Bitcoin before getting a divorce because everything will be split, or dividing property when they are separated.  
I never heard such stories in my country because there's not yet a divorce approve here.  

I have never experienced this but I think this belongs to cheating if someone hides their assets to Bitcoin.

[yazher]

At least they have some alternatives to multiply their wealth in the future. It's a good thing to do because most of the divorce you have right there took years and maybe after 2-4 bitcoin halvings have already passed and I'm sure their funds have already multiplied by that time. If they happened to get divorced just before a year, then that guy is both unlucky in love and money investment.

[TravelMug]

I think this is complicated, will any on them wiling to share the private key to their bitcoins?

What if they claim that they have lost the private keys? can the court force someone to divulge the keys or how can they proved that they are telling the truth about losing their private keys?

So yeah, I guess pre-nuptial agreement is a thing to do, and most likely this is what celebrities are doing right now isn't it?

[mk4]

Quite a genius loophole if the bitcoin-holder manages to buy bitcoin without having a questionable money transfer that could raise red flags lol. Probably the "right" way to do it is to buy bitcoin in smaller amounts.

With that said, this is mostly a personality relationship problem that both parties should solve.

[Poker Player]

The topic is interesting, because in theory, in a sincere marriage where you both love each other, things like a large amount of money should not be hidden from each other. If we get more realistic, in some cases in a divorce the person you divorce becomes a complete stranger who tries to hurt you by getting the most out of you. More so in the case of celebrities. Maybe there it is justified to have a safekeeping amount in Bitcoin but the other person doesn't know about it, so they can't sue you for a part of it in the divorce.

Quite a genius loophole if the bitcoin-holder manages to buy bitcoin without having a questionable money transfer that could raise red flags lol. Probably the "right" way to do it is to buy bitcoin in smaller amounts.

Yes, this would be a problem. If we are talking about very large amounts, hiding them in Bitcoin without leaving a trace would be difficult.

[Kakmakr]

Well, they can get the spouses to sign a sworn affidavit that they declared all assets and commodities when they get divorced. If they then later do a financial audit on the proceeds of any Crypto transactions, they can use the Blockchain and also the transaction history of Exchanges to determine when those Crypto coins was acquired.

So, if they find that a person lied about their financial interest, they can charge that person with Perjury and the maximum jail time for that can be between five and 10 years per charge. If a person lies under oath more than once, he or she stands to be charged with many offenses.

[davis196]

Bitcoin is financial asset.It should be treated like any other financial asset by the governments and the judicial  system.
All the celebrities,who are getting married only for the sake of getting divorced several years later and having to pay millions of dollars to their spouses are simply stupid.I can't feel sorry for a rich guy,who gets married and after a year or two cheats on his wife.
I don't see any news about celebrities embracing Bitcoin as a way to hide their wealth from their spouses.
There isn't such trend whatsoever.Maybe the celebrities must focus on Monero instead of Bitcoin.

[Oshosondy]

If someone is afraid of potential divorce, they can just make a prenuptial agreement instead of trying to hide their wealth, which rarely works out. Imagine someone successfully hid the coins during the divorce, then a year later they use the coins to buy a new house, and lawyers notice this and calculate that they have used some hidden money to do that, so they get investigated and penalized.

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.

About what you'd said, someone needs to be smart, all will be planned accurately, we are men and we must do it accurately in a way nothing will be noticed by your wife, her lawyer or any government agencies.

Even if I am not divorcing my wife, there are some part of me that she can never know.

[Vaculin]

I think this is complicated, will any on them wiling to share the private key to their bitcoins?

What if they claim that they have lost the private keys? can the court force someone to divulge the keys or how can they proved that they are telling the truth about losing their private keys?

So yeah, I guess pre-nuptial agreement is a thing to do, and most likely this is what celebrities are doing right now isn't it?

If the other half refuses to share his bitcoin asset to his partner by lying that he lost the private keys, then he will be put into further investigation. However, if the bitcoin asset has been acquired before the marriage, once the couple decides to divorce, that asset or property will remain as the person's separate property, so the other half does not have the power to split the asset.

[Accardo]

I think this is complicated, will any on them wiling to share the private key to their bitcoins?

What if they claim that they have lost the private keys? can the court force someone to divulge the keys or how can they proved that they are telling the truth about losing their private keys?

So yeah, I guess pre-nuptial agreement is a thing to do, and most likely this is what celebrities are doing right now isn't it?

If the other half refuses to share his bitcoin asset to his partner by lying that he lost the private keys, then he will be put into further investigation. However, if the bitcoin asset has been acquired before the marriage, once the couple decides to divorce, that asset or property will remain as the person's separate property, so the other half does not have the power to split the asset.

The learned men (Lawyer), as they are being called by their colleagues, have some truth wizards in their firm that can dictate if someone is lying about their private keys. They use behaviors like body language to spot deception and discover the truth from a spouse that it's lying. However, I know less about the pre-nuptial agreement but, it's a good idea to take such steps because the world has changed enough, and people now see divorce as a get-rich-quick scheme. No man is perfect!

[boyptc]

I've seen a divorce that gone wrong because the entire tangible assets of the couple has been cut into half, yeah, literally sliced for their 50/50 share. It's crazy as it seems but they really are going with the law about their conjugal property.

About owning bitcoin, it's about the faithfulness of the both of them. My wife knows that I've got some holdings but she never accessed it and I've told her that never speak in public about it. I guess this goes to the communication of the couple and for the single men/women, it's up to you if you're going to introduce yourself as a bitcoin investor to the love of your life when you find them.

[worle1bm]

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.

But still we can't say that celebrities have started late as KYC is not a big exposure for them because they can submit the documents of any other person with the exchange and remain unknown to the others with their investments.But this topic doesn't fit in the category so nothing much to say about it.

[Rikafip]

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?

[DoublerHunter]

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..

^ Call me selfish but I think that is a good idea, though it is a smart idea to plan for your future ahead of time being married by hiding the majority of your wealth, especially if you don't know your partner or need to keep your wealth hidden from your partner. Becoming a well-known celebrity is so widespread in our society, most of their lovers marry them for their fortune rather than their love. As a result, it is an advantageous weapon for them to protect their wealth from their profiteer partners when the time they decided to get divorced. This is truly how to use BTC that can hide wealth against those who wanted your wealth, even you ex-spouse that has a lawyer that ready to split your wealth has nothing to do once it is converted to BTC.

[gantez]

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?

It will be a marriage domed already to fail because there will exist alot of hiding, insecurity and lack of comfort in that all. Lies will be the house name because you need another lie to cover the previous one said. Covering traces is not needed before you enter into such relationship except that while in the marriage then things start changing.