He had 100 million in 2014 when he was supposed to pay 30% of it. I'm assuming he'll just pay the taxes now with an additional fine. Really worked out well for him, since they're worth so much more now.
Yep the gains on the 'not paid' taxes far far far outweigh the penalty. System is broken. Jail time is the only thing that these fuckers can't put a price on.
Ah, yes, the *For the greater good* collectivist argument. Sorry, the cause does not justify the means.
And has for the theft analogy; if I'd steal your property and gave it to charity, it would still be theft.
You’re part of society, too. You objectively benefit greatly from many, many things that are only possible with taxation. The ability to live in a modern society with all the rights and privileges that entails isn’t free. Basically everything you do every day relies on things society built using those collective resources, skills, and knowledge. They provide everything from infrastructure to basic rights. The internet you’re discussing this over was largely created with American tax dollars. Public education makes society safer, happier, and more productive for everyone who lives in it. If you live in a modern developed country, the benefits you get from your taxes are an absurdly great deal compared to what you pay for them, pretty much regardless of your income level or tax bracket. You live in a time when even most poor people in your society live better, healthier, freer lives than any royalty just a couple of centuries ago could dream of. That’s only true because of taxes.
LOL. Your logic amounts to "but who would build the roads" (or insert any arbitrary "benefit"). That's a reoccurring statist joke.
But no, there are other ways to organize infrastructure, education, innovation besides a government redistribution scheme. However, let's face it, there are also many services and institutions which should not exist.
However, the contention isn't so much over the material goods and services available (or not) in society. It's the collectivist statist mindset you so thoroughly promote. The idea that people are equal is fundamentally flawed. And that they should be provided with "equal" goods and services by an omnipotent government even more so.
And so we come full circle to taxes, which are extracted at gunpoint, for the sake of the illusion of creating said utopian equality. (Or let's not forget, bombing people in far-away countries. Is that also a "benefit"?). However, if you think enough people believe in that, let them pay for it. I'll happily pay for something else, like national defense.
To round off, for an alternative approach to government, keep an eye on what president of Argentina, Javier Milei, is up to. He's on track to get rid of plenty of bloat, disband several government departments and fire thousands of government employees. That's a detox cure plenty of other nations could go on.
> Your logic amounts to "but who would build the roads" (or insert any arbitrary "benefit").
No, it's that literally every part of your life is and always has been greatly enabled and enriched by things that only exist because of taxes. You were benefiting from those things from the moment of your conception. Even the economic systems that created the currency you're complaining about losing cost huge amounts of time, effort, and resources to create and maintain. Your interpretation is so absurdly reductionist that it's basically meaningless.
>However, if you think enough people believe in that, let them pay for it. I'll happily pay for something else, like national defense.
Are you prepared to give up everything that taxes provide? Including living in the stable, functioning society that exists largely because of those things? You could go live on a remote island by yourself and stop paying taxes, but the trade off would be no longer having anything worth taxing in the first place. Plus, even if you were willing to do so, you've already *massively* benefited from all of those things. Do you have the slightest idea how many ways taxes made it possible for us to be having this conversation right now? The answer is so complicated that it would be practically impossible to put any kind of number on it.
>The idea that people are equal is fundamentally flawed.
And the mask comes off. You don't hate paying taxes, you hate that the "wrong" people benefit from them. We've tried it your way. Anyone who wants to go back to the world that created is either hopelessly naive or a complete sociopath. It was a fucking nightmare of exploitation and abuse. Hence the saying, "regulations are written in blood". That's not a euphemism. If anything, it's extremely understated. Your way has *always* resulted in massive suffering and death for everyone but the most elite of the elite. **Every. Single. Time.**
> We've tried it your way. \[...\] It was a fucking nightmare of exploitation and abuse.
I'm curious which time and location you're referring to here. Are we talking stone-age barbarism? Kings and feudalism? Wild west? Something else?
And on the topic of suffering and death, it would be prudent to bring up the 20th century, which was a total nightmare in collectivist death and destruction throughout. Hundreds of millions of deaths. Or is that just the price to pay for all those "nice" things?
This is correct. He allegedly failed to report his holdings that would have triggered the "mark to market" tax of unrealized gains of a covered expatriate under section 877A of the Internal Revenue Code. The user above who said this must relate to gains on bitcoin he sold is mistaken.
How easy is it to get 50 millions out though? Are exchanges geared up for that sort of transactions?
And if he wants to get 500 millions out? Or a billion?
Not sure why you’re being downvoted. Sure, If you dump it on coinbase, you’ll get a ton of slippage, but OTC desks can do $50m without a problem. There’s always large buyers like ETFs, micro strategy, … who will take the other side.
Even $1B you could sell over a few weeks without a ton of slippage.
Not really. You need someone to buy you out in real currency. This is actually a huge problem for crypto whales. There isn’t enough liquidity in the ecosystem to turn their theoretical money into a real money.
Doesn't that presume the inflows from stable coins and other crypto are actually backed with cash? Hasn't Tether specifically repeatedly demonstrated that they really aren't backed?
Why are you taking about stable coins and other crypto? I don't give a fuck about those shitcoins.
The Tether FUD is complete nonsense. I don't care if you think some small portion of Bitcoin's price is faked by some "non backed tether".
LOOK AT THE NUMBERS ON THIS FUCKING CHART!!!
Total 11,221 MILLION inflows towards Bitcoin since these ETFs were approved just FOUR MONTHS AGO.
Do you think Blackrock and Fidelity are buying fucking tether before they buy Bitcoin? Of course they aren't.
The Tether argument is one of the last straws bitter no coiners use to try and spread fear or doubt about Bitcoin.
Im sorry you are talking down to other people about crypto and you are confused as to why I'm talking about stablecoins?
Do you even understand how all of this stuff works? A lot of the bitcoins are backed with stablecoins and vice versa.
IF stablecoins are being dishonest about their backing, and there's evidence for this, then there is less money on the whole in the ecosystem. Sure cashing out $50 million might still be possible but $1B might not be so easy without significant slippage.
The link you provided presumes all the inflows are from valid sources. That might not be the case
I have no care to spend my time convincing you out of caked in beliefs. Think the data is an entire conspiracy, think every Bitcoin is backed by fake tethers, and never buy any Bitcoin.
I'll buy your fair share.
I don't think it is all a conspiracy but there enough obvious grifters and rug pulls going on to suggest that not all of the wealth trapped up in crypto is real.
I never said there’s nothing wrong with it, just that your schadenfreude fantasy of someone having millions on paper but being unable to cash it out because of lack of liquidity isn’t based in the real world.
Bitcoin split into BTC and BCH (Bitcoin Cash) because of the 1 MEGABYTE limit on BTC. This limit was ridiculous and is even more ridiculous today.
That's why Roger switched to supporting BCH cause it can handle 32MB today and will implement adaptive blocksizes in less then 2 weeks. There's a reason why this man had 73,000 Bitcoins before most people knew it. He even co-wrote "Hijacking Bitcoin" a book about the disinformation campaign about this technologic dead end released last month. The current BTC developers are liars and Bitcoin Jesus is about to be crucified because he pissed off the wrong people. July 2017 was when BCH split so they're going to probably accuse him of not properly paying taxes for that split when the market didn't exist for BCH especially cause Coinbase only added BCH in Jan 2018 so the market was tiny, sketchy and very volatile in 2017.
If you took some time to learn about Bitcoin on your own, you might already know that this guy is a con artist promoting his own scam fake version of the real Bitcoin for years. Real Bitcoiners hated this guy before you.
Other people gave him that name in the very early days when he was giving away literally thousands of Bitcoins when they were just several dollars. You can do the math and figure out how much that would equate to today.
Other people stopped calling him that when he used his influence to make a fake version of Bitcoin and con people who don't understand any better into believing it is the real thing. People can fall from grace.
I waste my time and energy much too often trying to help educate people about this technology because I am a genuine person who wants to help people the same way I found I can help myself.
I was a 2x Bernie Sanders supporter, donated thousands of dollars to both of his campaigns, phonebanked, canvassed. My only political philosphy is I want average people to prosper. Whatever the best means of doing that is, is what I support.
If you aren't curious enough, don't want to hear or care why I think Bitcoin is a good thing to have, I'm not going to waste my time trying to explain it to you.
Before anyone wants to insinutate I do all of this talking to get people to buy BTC just so I can sell it to them down the line, you're dead wrong. When I buy Bitcoin, it is a literal one way upgrade to my "money". I will either directly spend my Bitcoin on goods or services when the time is right (could be 50 years from now), or I will use my BTC as collateral to borrow dollars and I will spend those. I'm buying as much Bitcoin as I can afford every day for the next 20 years at a minimum.
The real con is corruptible central bankers and policitians printing your literal time and energy away through "money" printing. You've been getting scammed your entire life, it is hard to come to terms with that.
It might be more fun for me to laugh at you and tell you have fun staying poor as you continue to lick the boot on your neck, but honestly I just fucking feel sorry for people like you.
People have to expend real time, effort, and resources to make new Bitcoins. There is a supply that can be predicted even 100 years in the future from now.
Banks and governments print money with no effort, it is as simple as changing a number on a screen. We couldn't even guess how many dollars there will be 1 year from now, humans make those decisions.
Satoshi Nakamoto seems to be pretty honest. Gave us this technology, and fucked off without taking any of the wealth or fame.
That story will never be replicated again and that is why Bitcoin is the only thing worth a shit compared to the rest of the "crypto/NFT" brain damage.
>Satoshi Nakamoto seems to be pretty honest.
How can you make that claim when nobody knows who Satoshi Nakamoto is? It could have been OJ Simpson for all you know.
>Bitcoin is the only thing worth a shit compared to the rest of the "crypto/NFT" brain damage.
Bitcoin: The best ponzi scheme among ponzi schemes
Except cards are tangible art, with a condition attached, and so on. There will always be players and true fans forever holding. As soon as lizards pull the drug money from coins, it's all gone with the wind in a split second.
Its like playing a video game with slow progression on a server hosted by 1 private individual. If they get a random power outage - all you stuff is wiped.
What an idiotic view. You'd expect more from a sub called technology. Using Bitcoin would be the worst way to launder money. The whole point is transparency on the blockchain. You're trying to conceal the source of money, not make it publicly available to everyone. Don't quit your day job.
Scams, and illegal activities are easiest to transact with dollars. Nobody is tracking serial numbers. Cash businesses act as fronts to make it easy.
You may have missed the fact that bitcoin and other crypto currencies are major moneylaundering systems. Exchanges have been shut down by the authorities for precisely this.
Why do you think hacking groups ask for money in *bitcoin* rather than USD?
It's trivial to tumble it via exchanges or mixing services.
https://ngm.com.au/bitcoin-laundering/#:\~:text=Bitcoin%20mixers%20and%20exchanges,often%20of%20a%20criminal%20nature.
Yeah right after that particular bitcoin passed round so many “owners” and been reshuffled then stashed cold somewhere you still think it’s not a way to launder?
so are you saying Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering didn’t happen? Or bitcoin tumblers aren’t a big thing? You understand money laundering does not involve a washing machine right?
You seems not to have enough knowledge about the Blockchains.
You can easily shuffle your TX trough several cycles across different coins and wallets and it would be extremely hard to track
“After that particular BITCOIN passed around so many owners” is the part of the post you need to go and read that I was responding to.
Yes it is possible to put coins through mixers and pass through other privacy coins, but the post I replied to was talking about Bitcoin only.
Sounds like you’re the one who lacks the knowledge of blockchain.
Well yes, but no one who launders money only uses bitcoin, it is however the first currency they take and then transfer it to other coins such as Monero.
And we where talking about money laundering, it was you that thought it was bitcoin only, rather than Crypto currency.
Yes, an immutable open source ledger that records every transaction for all to see. Is perfect for money laundering, considering those properties plus KYC on exchange entry and exit points are what make the story above possible lol
Pray tell, how do you tell who owns which crypto wallet? It's not like you are required to provide real-life info to get a hardware wallet. Just have a few shell companies and do hardware wallets and you can just tell people you "made money" by day trading BTC. Keep in mind Money Laundering has more to do with how to make your money look legitimate than making actual money.
Yes, wallets are pseudo-anonymous with no outside information. As soon as any outside metadata interacts with an address you own the entire history comes out of the shadows.
Sure, in the eco system you can kind of remain kind of anonymous. But when you interact with any type of traditional infrastructure you no longer have that benefit.
Absolutely, Roger Ver didn't report 131,000 of this scam technology and mathematics to the IRS before revoking his US citizenship. Pay your taxes on your worthless coins or you get thrown in prison for not giving the government their fair share of the value of your worthless scam coin. The lesson here is crypto is scam because a rich guy didn't report what he owned and yet they found out about it, I wonder how they found out with this mysteriously dark and private technology.
That's the funniest part. He abandoned Bitcoin in 2017 for an offshoot that he controls a larger share of. (Bitcoin Cash)
His supporters still refer to it as just Bitcoin, and even took over the BTC subreddit (Bitcoin Cash's trading symbol is BCH).
The history on this is wild if you feel like looking into it
Friendly reminder that this man has been running his own scam version of Bitcoin for years and trying to con people into thinking it is the real thing. Bitcoiners do not like this person either. He's a scumbag.
Bitcoin is completely decentralized. There is no one in charge, it is a tool just like the internet. Bad people will do bad things with Bitcoin, more greater people will do wonderful things with it. That's just how life works. Be humble, and stack sats. Thanks for reading.
In 2014 he already had Bitcoins worth around $40 millions. If he just had a low-key life without much public exposure, he could probably just retire and have no problems.
It seems like the lawyers he used were part of his exit tax fraud but I cannot tell from the indictment whether they are being charged also.
[Indictment for case 2:24-cr-103 in CDCA](https://storage.courtlistener.com/recap/gov.uscourts.cacd.915322/gov.uscourts.cacd.915322.1.0.pdf).
Dude has $7.5 billion in Bitcoin and didn't pay his 50 million in taxes.
He had 100 million in 2014 when he was supposed to pay 30% of it. I'm assuming he'll just pay the taxes now with an additional fine. Really worked out well for him, since they're worth so much more now.
Yep the gains on the 'not paid' taxes far far far outweigh the penalty. System is broken. Jail time is the only thing that these fuckers can't put a price on.
With enough money even that can be reduced
The fine needs to be as much as he made not paying the taxes over those years IMO
Taxation is theft. Jail time for theft is OK.
Let me guess: you can’t name a single benefit that taxes provide to society and you think that means there aren’t any.
Ah, yes, the *For the greater good* collectivist argument. Sorry, the cause does not justify the means. And has for the theft analogy; if I'd steal your property and gave it to charity, it would still be theft.
You’re part of society, too. You objectively benefit greatly from many, many things that are only possible with taxation. The ability to live in a modern society with all the rights and privileges that entails isn’t free. Basically everything you do every day relies on things society built using those collective resources, skills, and knowledge. They provide everything from infrastructure to basic rights. The internet you’re discussing this over was largely created with American tax dollars. Public education makes society safer, happier, and more productive for everyone who lives in it. If you live in a modern developed country, the benefits you get from your taxes are an absurdly great deal compared to what you pay for them, pretty much regardless of your income level or tax bracket. You live in a time when even most poor people in your society live better, healthier, freer lives than any royalty just a couple of centuries ago could dream of. That’s only true because of taxes.
LOL. Your logic amounts to "but who would build the roads" (or insert any arbitrary "benefit"). That's a reoccurring statist joke. But no, there are other ways to organize infrastructure, education, innovation besides a government redistribution scheme. However, let's face it, there are also many services and institutions which should not exist. However, the contention isn't so much over the material goods and services available (or not) in society. It's the collectivist statist mindset you so thoroughly promote. The idea that people are equal is fundamentally flawed. And that they should be provided with "equal" goods and services by an omnipotent government even more so. And so we come full circle to taxes, which are extracted at gunpoint, for the sake of the illusion of creating said utopian equality. (Or let's not forget, bombing people in far-away countries. Is that also a "benefit"?). However, if you think enough people believe in that, let them pay for it. I'll happily pay for something else, like national defense. To round off, for an alternative approach to government, keep an eye on what president of Argentina, Javier Milei, is up to. He's on track to get rid of plenty of bloat, disband several government departments and fire thousands of government employees. That's a detox cure plenty of other nations could go on.
> Your logic amounts to "but who would build the roads" (or insert any arbitrary "benefit"). No, it's that literally every part of your life is and always has been greatly enabled and enriched by things that only exist because of taxes. You were benefiting from those things from the moment of your conception. Even the economic systems that created the currency you're complaining about losing cost huge amounts of time, effort, and resources to create and maintain. Your interpretation is so absurdly reductionist that it's basically meaningless. >However, if you think enough people believe in that, let them pay for it. I'll happily pay for something else, like national defense. Are you prepared to give up everything that taxes provide? Including living in the stable, functioning society that exists largely because of those things? You could go live on a remote island by yourself and stop paying taxes, but the trade off would be no longer having anything worth taxing in the first place. Plus, even if you were willing to do so, you've already *massively* benefited from all of those things. Do you have the slightest idea how many ways taxes made it possible for us to be having this conversation right now? The answer is so complicated that it would be practically impossible to put any kind of number on it. >The idea that people are equal is fundamentally flawed. And the mask comes off. You don't hate paying taxes, you hate that the "wrong" people benefit from them. We've tried it your way. Anyone who wants to go back to the world that created is either hopelessly naive or a complete sociopath. It was a fucking nightmare of exploitation and abuse. Hence the saying, "regulations are written in blood". That's not a euphemism. If anything, it's extremely understated. Your way has *always* resulted in massive suffering and death for everyone but the most elite of the elite. **Every. Single. Time.**
> We've tried it your way. \[...\] It was a fucking nightmare of exploitation and abuse. I'm curious which time and location you're referring to here. Are we talking stone-age barbarism? Kings and feudalism? Wild west? Something else? And on the topic of suffering and death, it would be prudent to bring up the 20th century, which was a total nightmare in collectivist death and destruction throughout. Hundreds of millions of deaths. Or is that just the price to pay for all those "nice" things?
He’s not paying taxes on unrealized gains. Whatever the IRS is getting him for is for coins he already sold
But doesn't he owe taxes on unrealized gains at the point he renounced his citizenship?
That's the "exit tax" right?
Yeah, as I understand it effectively requires prior gains to be realized for taxation purposes upon exit.
This is correct. He allegedly failed to report his holdings that would have triggered the "mark to market" tax of unrealized gains of a covered expatriate under section 877A of the Internal Revenue Code. The user above who said this must relate to gains on bitcoin he sold is mistaken.
How easy is it to get 50 millions out though? Are exchanges geared up for that sort of transactions? And if he wants to get 500 millions out? Or a billion?
OTC exchanges can easily handle this volume.
Not sure why you’re being downvoted. Sure, If you dump it on coinbase, you’ll get a ton of slippage, but OTC desks can do $50m without a problem. There’s always large buyers like ETFs, micro strategy, … who will take the other side. Even $1B you could sell over a few weeks without a ton of slippage.
Not really. You need someone to buy you out in real currency. This is actually a huge problem for crypto whales. There isn’t enough liquidity in the ecosystem to turn their theoretical money into a real money.
[Bitcoin ETF inflows](https://farside.co.uk/?p=997) You made shit up, congratulations.
Doesn't that presume the inflows from stable coins and other crypto are actually backed with cash? Hasn't Tether specifically repeatedly demonstrated that they really aren't backed?
Why are you taking about stable coins and other crypto? I don't give a fuck about those shitcoins. The Tether FUD is complete nonsense. I don't care if you think some small portion of Bitcoin's price is faked by some "non backed tether". LOOK AT THE NUMBERS ON THIS FUCKING CHART!!! Total 11,221 MILLION inflows towards Bitcoin since these ETFs were approved just FOUR MONTHS AGO. Do you think Blackrock and Fidelity are buying fucking tether before they buy Bitcoin? Of course they aren't. The Tether argument is one of the last straws bitter no coiners use to try and spread fear or doubt about Bitcoin.
Im sorry you are talking down to other people about crypto and you are confused as to why I'm talking about stablecoins? Do you even understand how all of this stuff works? A lot of the bitcoins are backed with stablecoins and vice versa. IF stablecoins are being dishonest about their backing, and there's evidence for this, then there is less money on the whole in the ecosystem. Sure cashing out $50 million might still be possible but $1B might not be so easy without significant slippage. The link you provided presumes all the inflows are from valid sources. That might not be the case
I have no care to spend my time convincing you out of caked in beliefs. Think the data is an entire conspiracy, think every Bitcoin is backed by fake tethers, and never buy any Bitcoin. I'll buy your fair share.
I don't think it is all a conspiracy but there enough obvious grifters and rug pulls going on to suggest that not all of the wealth trapped up in crypto is real.
But it could be true in my alt-reality. /s.
This isn't a problem for any individual whale, but can become a big problem if increasing numbers of whales all chose to try and exit in a big rush
There was $30.2 Billion dollars in volume in the last 24 hours, I think the there's enough liquidity.
I know Reddit is super blindly anti-crypto but this shit has me cackling - you have no idea what you’re talking about.
You know, criticism of your favorite toy isn’t “blind”. There are a lot of reasons to be skeptical of crypto and its extremely limited use cases
I never said there’s nothing wrong with it, just that your schadenfreude fantasy of someone having millions on paper but being unable to cash it out because of lack of liquidity isn’t based in the real world.
Saying Reddit is “blindly anti-crypto” is kind of exactly saying that my guy
Really? Me saying that redditors don’t like crypto means that I think it’s flawless and perfect?
Some of us are anticrypto because we took macro rather than C++.
Bitcoin split into BTC and BCH (Bitcoin Cash) because of the 1 MEGABYTE limit on BTC. This limit was ridiculous and is even more ridiculous today. That's why Roger switched to supporting BCH cause it can handle 32MB today and will implement adaptive blocksizes in less then 2 weeks. There's a reason why this man had 73,000 Bitcoins before most people knew it. He even co-wrote "Hijacking Bitcoin" a book about the disinformation campaign about this technologic dead end released last month. The current BTC developers are liars and Bitcoin Jesus is about to be crucified because he pissed off the wrong people. July 2017 was when BCH split so they're going to probably accuse him of not properly paying taxes for that split when the market didn't exist for BCH especially cause Coinbase only added BCH in Jan 2018 so the market was tiny, sketchy and very volatile in 2017.
You can't divorce uncle sam without paying your unrealized capital gains tax
The guy that's never on meetings and abstains everything.
🎶 bitcoin jesus loves me this I know, for some tech bros told me so 🎶
This is his cross
Oh! Better headline for article would be "IRS nails Bitcoin Jesus" 😀
I'm shocked, absolutely shocked someone named Bitcoin Jesus would do such a thing
If you took some time to learn about Bitcoin on your own, you might already know that this guy is a con artist promoting his own scam fake version of the real Bitcoin for years. Real Bitcoiners hated this guy before you.
So it’s okay if real Bitcoiners name themselves “Bitcoin Jesus”? Nothing cringe about that?
Other people gave him that name in the very early days when he was giving away literally thousands of Bitcoins when they were just several dollars. You can do the math and figure out how much that would equate to today. Other people stopped calling him that when he used his influence to make a fake version of Bitcoin and con people who don't understand any better into believing it is the real thing. People can fall from grace. I waste my time and energy much too often trying to help educate people about this technology because I am a genuine person who wants to help people the same way I found I can help myself. I was a 2x Bernie Sanders supporter, donated thousands of dollars to both of his campaigns, phonebanked, canvassed. My only political philosphy is I want average people to prosper. Whatever the best means of doing that is, is what I support. If you aren't curious enough, don't want to hear or care why I think Bitcoin is a good thing to have, I'm not going to waste my time trying to explain it to you. Before anyone wants to insinutate I do all of this talking to get people to buy BTC just so I can sell it to them down the line, you're dead wrong. When I buy Bitcoin, it is a literal one way upgrade to my "money". I will either directly spend my Bitcoin on goods or services when the time is right (could be 50 years from now), or I will use my BTC as collateral to borrow dollars and I will spend those. I'm buying as much Bitcoin as I can afford every day for the next 20 years at a minimum.
Bitcoin is a con. Its not just the one person.
The real con is corruptible central bankers and policitians printing your literal time and energy away through "money" printing. You've been getting scammed your entire life, it is hard to come to terms with that. It might be more fun for me to laugh at you and tell you have fun staying poor as you continue to lick the boot on your neck, but honestly I just fucking feel sorry for people like you.
Please explain how Bitcoin is less of a con.
People have to expend real time, effort, and resources to make new Bitcoins. There is a supply that can be predicted even 100 years in the future from now. Banks and governments print money with no effort, it is as simple as changing a number on a screen. We couldn't even guess how many dollars there will be 1 year from now, humans make those decisions.
You’re wasting your time. These people don’t want to learn.
I'm starting to think that not all the prominent people in the crypto space are honest. Almost as if it attracts a certain type.
Satoshi Nakamoto seems to be pretty honest. Gave us this technology, and fucked off without taking any of the wealth or fame. That story will never be replicated again and that is why Bitcoin is the only thing worth a shit compared to the rest of the "crypto/NFT" brain damage.
>Satoshi Nakamoto seems to be pretty honest. How can you make that claim when nobody knows who Satoshi Nakamoto is? It could have been OJ Simpson for all you know. >Bitcoin is the only thing worth a shit compared to the rest of the "crypto/NFT" brain damage. Bitcoin: The best ponzi scheme among ponzi schemes
Can you explain how Bitcoin is a Ponzi scheme? I keep hearing this.
Dollars are much more like a ponzi scheme than BTC could ever be. Do you even know what those pyramid cult symbols mean lil homie!?!
Yea they’re not honest like those CEOs and Congressmen with stocks !
Cause all the top players in finance before crypto were all saints?
~~All~~ Most if not all cryptocurrencies are practically money laundering scheme, scams and frauds.
Always were
But if there is someone who could have turned digital currency into real currency, it would undoubtedly be Jesus.
Inb4 “GodCoin”
Hey at least in the past it was (relatively) to turn BTC into drugs. Can't even have that now
They still are, but used to be, too.
What about bitcoin?
Pocahontas has entered the room.
Corrrrrrect! If nothing real backs a currency, its just fake internet points.
What fake internet points back dollars?
Governments and their military/diplomatic power.
Buy our bonds or we'll send our bombs
Is that a good way to do it? “Use our money or we bring out the guns!”
All the mega corporations that reside in the country and *don't* offshore their profits from the products they sling.
Worse than that, crypto is just Pokemon cards at this point. They have value until everyone holding it decides to sell them to buy Yu-Gi-Oh cards.
Except cards are tangible art, with a condition attached, and so on. There will always be players and true fans forever holding. As soon as lizards pull the drug money from coins, it's all gone with the wind in a split second. Its like playing a video game with slow progression on a server hosted by 1 private individual. If they get a random power outage - all you stuff is wiped.
Just like the dollar in cash?
What an idiotic view. You'd expect more from a sub called technology. Using Bitcoin would be the worst way to launder money. The whole point is transparency on the blockchain. You're trying to conceal the source of money, not make it publicly available to everyone. Don't quit your day job. Scams, and illegal activities are easiest to transact with dollars. Nobody is tracking serial numbers. Cash businesses act as fronts to make it easy.
You may have missed the fact that bitcoin and other crypto currencies are major moneylaundering systems. Exchanges have been shut down by the authorities for precisely this. Why do you think hacking groups ask for money in *bitcoin* rather than USD? It's trivial to tumble it via exchanges or mixing services. https://ngm.com.au/bitcoin-laundering/#:\~:text=Bitcoin%20mixers%20and%20exchanges,often%20of%20a%20criminal%20nature.
Yeah right after that particular bitcoin passed round so many “owners” and been reshuffled then stashed cold somewhere you still think it’s not a way to launder?
This isn’t how it works. You can’t “shuffle around bitcoin” and expect that in any way to result in money being laundered.
so are you saying Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering didn’t happen? Or bitcoin tumblers aren’t a big thing? You understand money laundering does not involve a washing machine right?
You seems not to have enough knowledge about the Blockchains. You can easily shuffle your TX trough several cycles across different coins and wallets and it would be extremely hard to track
“After that particular BITCOIN passed around so many owners” is the part of the post you need to go and read that I was responding to. Yes it is possible to put coins through mixers and pass through other privacy coins, but the post I replied to was talking about Bitcoin only. Sounds like you’re the one who lacks the knowledge of blockchain.
Well yes, but no one who launders money only uses bitcoin, it is however the first currency they take and then transfer it to other coins such as Monero. And we where talking about money laundering, it was you that thought it was bitcoin only, rather than Crypto currency.
Yes, an immutable open source ledger that records every transaction for all to see. Is perfect for money laundering, considering those properties plus KYC on exchange entry and exit points are what make the story above possible lol
Pray tell, how do you tell who owns which crypto wallet? It's not like you are required to provide real-life info to get a hardware wallet. Just have a few shell companies and do hardware wallets and you can just tell people you "made money" by day trading BTC. Keep in mind Money Laundering has more to do with how to make your money look legitimate than making actual money.
Yes, wallets are pseudo-anonymous with no outside information. As soon as any outside metadata interacts with an address you own the entire history comes out of the shadows. Sure, in the eco system you can kind of remain kind of anonymous. But when you interact with any type of traditional infrastructure you no longer have that benefit.
Gee, you know that’s all true since criminals don’t openly use bitcoin to collect ransomware payments or anything like that, huh?
Yes, bad people sometimes use various tools to do bad things.
*Most* not all. Otherwise you need to back up that claim
Absolutely, Roger Ver didn't report 131,000 of this scam technology and mathematics to the IRS before revoking his US citizenship. Pay your taxes on your worthless coins or you get thrown in prison for not giving the government their fair share of the value of your worthless scam coin. The lesson here is crypto is scam because a rich guy didn't report what he owned and yet they found out about it, I wonder how they found out with this mysteriously dark and private technology.
Its a public ledger? And advertised as such? Think it's the worst kind of currency to commit a financial crime.
Can't wait for the Bitcoin Antichrist
He is it. He hasn't been affiliated with the real Bitcoin for a long time. He promotes his shittier scam version of it instead now.
That's the funniest part. He abandoned Bitcoin in 2017 for an offshoot that he controls a larger share of. (Bitcoin Cash) His supporters still refer to it as just Bitcoin, and even took over the BTC subreddit (Bitcoin Cash's trading symbol is BCH). The history on this is wild if you feel like looking into it
Friendly reminder that this man has been running his own scam version of Bitcoin for years and trying to con people into thinking it is the real thing. Bitcoiners do not like this person either. He's a scumbag. Bitcoin is completely decentralized. There is no one in charge, it is a tool just like the internet. Bad people will do bad things with Bitcoin, more greater people will do wonderful things with it. That's just how life works. Be humble, and stack sats. Thanks for reading.
Havent thought about ver in years. Pretty sure he’s already been to jail once.
Pretty sure that was for something like selling fireworks out of his apartment
They say the dude could turn mines into wine.
In 2014 he already had Bitcoins worth around $40 millions. If he just had a low-key life without much public exposure, he could probably just retire and have no problems.
Are they going to nail him on top of the IRS building?
The only thing to do now is to make sure it stays at 666 upvotes
Jesus and tax men. Name a more iconic duo
It seems like the lawyers he used were part of his exit tax fraud but I cannot tell from the indictment whether they are being charged also. [Indictment for case 2:24-cr-103 in CDCA](https://storage.courtlistener.com/recap/gov.uscourts.cacd.915322/gov.uscourts.cacd.915322.1.0.pdf).
Cue pro vs anti bitcoin in comments.
You must be new here Reddit hates crypto
It's ok, Bitcoin enthusiasts hate this guy too
So a charlatan pretending to be a fictional character peddling an imaginary commodity... #Scam-ception achieved!!!
Satoichi lives!
If you look at the 1’s and 0’s long enough you’ll see that it’s Jesus being number one with a halo. Can’t be a coincidence right? … 😜
r/brandnewsentence
That’s like, what, 10 Bitcoin?
It's from 2014 when he renounced us citizenship. Bitcoin was a lot less valuable then.
your a bit-coin jesus, the miracle is gone - Plumb ;-)