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Author Topic: Hiding your assets from the government via BTC  (Read 2686 times)
Blitz­
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January 30, 2012, 05:46:20 AM
 #1

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.

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January 30, 2012, 05:49:56 AM
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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.

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January 30, 2012, 05:50:37 AM
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living on couches
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holding private keys



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January 30, 2012, 05:51:57 AM
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Kim seemed to want a ton of shit. But you could be richer still leaving nothing to be seized.

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Let's talk governance, lipstick, and pigs.


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January 30, 2012, 07:12:41 AM
 #5

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?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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January 30, 2012, 07:18:07 AM
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I wonder if there is a Sofa Net for vagabonds looking for a place to crash?

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Let's talk governance, lipstick, and pigs.


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January 30, 2012, 07:23:41 AM
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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.

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January 30, 2012, 07:43:39 AM
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I'm sure Matthew's going to come along and snatch this up and publish it in the haiku section of Bitcoin Magazine.

~Bruno~
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January 30, 2012, 08:16:17 AM
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living on couches
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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.

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Bitcoin Oz
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Wat


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January 30, 2012, 09:06:01 AM
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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.



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January 30, 2012, 10:02:21 AM
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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.
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January 30, 2012, 10:06:03 AM
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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.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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January 30, 2012, 10:47:02 AM
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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.
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January 30, 2012, 11:02:05 AM
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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.




source?  i know they released that video with all those artists but never heard he was trying to do this
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January 30, 2012, 11:08:59 AM
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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.




source?  i know they released that video with all those artists but never heard he was trying to do this

Here's one article - http://expertscolumn.com/content/why-megaupload-was-really-shutdown

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January 30, 2012, 12:59:17 PM
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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.




source?  i know they released that video with all those artists but never heard he was trying to do this

Here's one article - http://expertscolumn.com/content/why-megaupload-was-really-shutdown
Quote
"We have a solution called the Megakey that will allow artists to earn income from users who download music for free," D-o-t-c-o-m outlined. "Yes that's right, we will pay artists even for free downloads. The Megakey business model has been tested with over a million users and it works."

mind = blown.  

bitcoin + anonyupload + megakeys model = win?!  

is there any info out there how this exactly would have worked?  im assuming it would tie in the strategy all those megaupload users in the movie RLS blogs used?
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January 30, 2012, 01:09:53 PM
 #17

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.

i wanna do that, see the world  Grin

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My money; Our Bitcoin.


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January 30, 2012, 11:26:24 PM
 #18

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.
source?  i know they released that video with all those artists but never heard he was trying to do this
Here's one article - http://expertscolumn.com/content/why-megaupload-was-really-shutdown

"The requested page could not be found."


hmm...


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January 31, 2012, 12:02:06 AM
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"The requested page could not be found."

Google cache

http://webcache.googleusercontent.com/search?q=cache:yVTj7uX9wxQJ:expertscolumn.com/content/why-megaupload-was-really-shutdown+&cd=1&hl=en&ct=clnk&gl=us&client=firefox-a
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January 31, 2012, 12:12:06 AM
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now this is interesting...
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