/biz/ - Business & Finance

>>27837069
So what happens now that he's out
And what exactly would the police have done with all that BTC?

He went to jail? Dump it

2 years in prison for 1700 BTC? I'd do that.

>>27837069
imagine if he has the keys memorized or at least in a place where he could get them at a later time. would be very based.

>>27837244
the police would have sold it off at some point and the funds would go...wherever the fuck that stuff goes.

if he's out i'm not sure if he can cash out legimately because it is proceeds of crime. but he can probably work around it.

>>27837332
Fucking oath...what a chad

>>27837069
assuming he can sash out
2 years for that much BTC would be well worth it
i'd finally have some time to meditate, read books and work out too

>>27837339
Such a professional has seed words hidden somewhere no doubt. Needs to get out of the country before using the wallet lol

>>27837264
>he went to jail? pamp eet
>he got out of jail? dump eet

>>27837069
and while he was in prison BTC fucking MOONED... that man sure knows how to HODL

>>27837505
Lmao I would gladly go to jail for 2 years for 1700 btc

Dude can sell it all and move to another country and police cant do jackshit

>>27837712
60 million to not work, sweet deal

>>27837712
he could practically BUY an entire shithole country with that.

>>27837069
link to article pls

>>27837244
well, he can't access it legally. but he can just fuck off to a country that cares less about that stuff and is just happy someone is bringing in the money. 50+ million is enough to live a good life no matter what place.

>>27837069
Based Bavarian chad

Is this how to train yourself to hodl? Just go to jail for 2 years and let crypto go brrr?

>>27838069
He can access it legally. If he waits a year he can swap it into XMR with atomic swaps and then back to BTC if he wants. Voila.

He's out just in time for atomic swaps to monero and then he'll be free to do basically whatever the fuck he wants. Fantastic.

>>27838225
you can be sure the state will monitor very closely if he suddenly has a shitload of money out of nowhere and will find a way to squeeze his balls.
better to just move elsewhere, Germany isn't hat amazing anyway.

Imagine serving the time, then figuring out you don't actually remember them digits.

>>27838444
That is the point brainlet. Nobody know's if you have a shitton of money if you hold XMR. There is no rich list.

>>27838773
I'm pretty sure what he meant is if Jimmy starts buying property and cars and shit the feds are going to be back on his ass immediately and confiscate it all because they'll assume it came from the proceeds of selling that BTC. Regardless of if the wallet doesn't move funds at all.a

His best bet is to move to a non-extradition country, swap it, and sell it and just never go back to Germany ever again.

so fucking based

>>27838773
what he said >>27839283
owning a lot of money is worthless if you cannot spend it

>>27837370
how about as restitution to the people who mined it?

>>27837370
Why would the police be entitled to any of the bitcoin? What did they do to deserve it? The people whose computers were used to mine the coins don't deserve it.

>>27839537
lol these are cops we are talking about man.

his cellmates maybe will be more effective than police to take this pass

>>27837069
stealing is not good

>>27837069
>>27837997
OP is a fag

https://www.reuters.com/article/us-crypto-currency-germany-password/police-seize-60-million-of-bitcoin-now-wheres-the-password-idINKBN2A511T

>>27840056
tell that to your gov lil guy

i cant believe he got access to enough computers to mine 1700 btc at any time post 2011. impressive

He is in a tricky position. He is basically gonna be forced to live in some "developing" shithole that wont care where his money came from. Lets say we swaps and sells using monero. Any modern country he goes to will ask questions when he suddenly has a bunch of money/assets he got with an unknown source. He could get away with small amounts or buying small expensive things that he could keep secret. But not the stuff you'd actually want to have with big money (ie a house). He's better off picking one of those "nice shithole" countries like in eastern Europe.

>>27837069
Sounds like a good deal. If I was him I would move to some shithole country, cash out and lay low for a while. Maybe use tethers carribean banks and give them a cut. But this means I can never go back home to see my parents :( But they can come live with me in my villa :)

You people praising yurop, Germany in particular, don't know how it is here. This place is a fucking hell for anyone who isn't a midwit. Most people lick the governments boots, have midwit reddit tier opinions and typical basedboy pretending to be smart behavior, are degenerate coomers, consoomers and are generally very happy being slaves. Only the stupid Germans and the very smart ones call out that the emperor has no clothes. Fuck this authoritarian shithole.

>>27837505
And get pulverized from behind by Jamal

>>27840225
Not that hard, I had access to a supercomputing facility and could have slipped something in pretty easily. Only reason I didn't was it was a CPU farm and the returns would have been shit compared to even a handful of ASICs.

couldn't they just smash his wallet?

>>27840335
It's actually a lot easier than that, just swap to monero and back, take a vacation to macau, launder your money through a casino, pay taxes, move to Singapore, live in a developed third world city state with plenty of cash and access to whatever luxuries you like. If you really miss being part of the degenerate west you can then move to australia or new zealand once heat dies down in a decade or two and germany forgets you exist.

>>27840335
what's wrong with being filthy rich in a developing country? if anything your money has more worth

>>27837069
Heckin based

>>27839537
You must be over 18 to post here

>>27837370
>..wherever the fuck that stuff goes.
It's Germany so the money would probably go to shitskins.

>>27837244
>what exactly would the police have done with all that BTC

Same thing they do with coke and heroin: pocket it.

>>27840024
this.. you just know he got gang rushed by a gang of gorillas at least once
>AYO cracka ass bitch, where yo hid them bitcorns, up yo ass or sumn? bend ova and lemme chek

>>27837370
reminder that when ross was v& his bitcoin was stolen by federal agents and they lost track of it

>>27839598
>Why would the police be entitled to any of the bitcoin? What did they do to deserve it?
because it's illegally acquired so the state just will take it and go YOLO with it. if you think they care about fairness you were lucky enough that you didn't have any real encounters with them yet.

>>27837069
what crime did he commit? seems like his assets shouldn't be siezed..

>>27840478
That only really happens in the US

>>27840075
almost forgot this quote from the article

>Prosecutors have ensured the man cannot access the largesse, however.

checkmate /biz/

>>27840075
LOL I LOVE HOW THEY SAY AT THE END HE CANT ACCESS HIS WALLET WHEN IN FACT HE CAN LOL

>>27841072
how have they ensured that, exactly? I feel like it's all misinformation do discourage others from trying it.

If this man had the know-how to mine 1,700 BTC post 2011, he for sure knows how to get access to his wallet if the police do not.

>>27837332
Fuck yea. In German prison

>>27841072
*prosecutors think they have ensured the man cannot access the largesse

>>27840335
bro, he never has to wageslave again and he can go live in any tropical country he wants and have a villa built with a/c and better internet than half of canada and eat papayas and hang out with lolis all day
serving 2 years in jail is better than wage slaving for 5

Wont the police know the exact moment a transaction from this account takes place?

>>27840863
>>27840478
it's Germany.
they don't imprison their shitskins; they have free reign.

Is he a jew? Because Israel will welcome him in and give him a computer!

>>27841400
>Oh nein, someone stole ze wallet, it iz not mein movement

>>27840478
germany splits their prisoners depending on what they are in for. you don't get thrown into the same facility as the rapist drug addicted murderers if all you did was some tax evasion and financial scams.

>>27837069
kek, he sounds based

>>27840559
how would they do that? the blockchain is immutable.

>>27841069
It only happens in US prisons. In yurop it happens on the street

>>27837069
based

>>27841072
you mean he temporarily can't access a wallet, once he's a free man it'll be cash out time

>>27841775
>Jamal
>Yurop
Pick one anon, this isn't 2014 anymore lmfao

>>27842105
And? If you'd rather use zoomer vernacular then go back 2 reddit

This means they don't have his private keys. So he either hid them really well or he never had a backup. In which case, he's fucked unless he has access to a wallet backup and rembers the password.

If he can access the wallet and get out of Germany, it would've been worth it (at least for me.) This was pretty much a victimless crime and, quite frankly, the State would've just stolen that money anyway.

>>27837244
he becomes living proof of the utter worthlessness of crypto. he can't spend it without converting it to a real currency.

>>27838225
The police will see that funds moved from the address.

>>27838145


Ive seen alot a few posts about people on here getting out of jail and checking their wallets. One guy still had to get a job and keep it because it was law..so despite having 2 million or so dollars he still had to put in 4 hours a day at taco bell.

Kek i remember that thread

>>27837069
So, they would know he's using the bitcoin through banks, no?

Why not just deposit in a foreign account?

>>27843050
>trade BTC for monero
>viola you're off the grid

>>27837069
Based. Everyone would do two years inside for 1700 btc. Come out and buy the fucking prison afterwards and fire the guards for the lulz

>>27839598
civil asset forfeiture gives local police the power to take all of your belongings and money without due process if you are suspected of certain crimes.
>Americans are free

>>27843532

Yeah but If you are proven innocent it must be given back with interest

This is why it pays to run a botnet

fuckin based

>>27838773
>>27838225
I think the concern would be that if Germany knows where the coins are, they could see it being moved and accuse him of doing it. He can easily move the coins, wash them through various means, and get them to a legitimate point of withdrawal, the problem is Germany would know the funds got taken and associate it with him. Not sure of Germany's legal system and if they could take action against him for dispersing the funds. It's an interesting question. For example, in the US, code is speech, so if you were in that situation and wrote a program to disperse the funds, can action be taken? I hope he tries to set some precedent. An interesting feature to combat this would be a way having the block chain automatically disperse funds as a dead man switch, so the funds could be washed while maintaining plausible deniability.

>>27840335
Are you sure? Yeah, he couldn't pull millions back into fiat without explaining, but he could draw a comfortable salary easily.

>>27841072
Actually might be true if he doesn't have a seed to restore the wallet. That seems unlikely, though.

>>27843948
You could very easily set that up with a smart contract as a dead man's switch, say if you don't cancel the contract after five years it just disburses the funds to a bunch of "random" wallets that were never officially associated with you.

However I don't think that will stop governments and their dogs from coming after you if they've already got you targeted. Once they're after you, your only real hope is to somehow bribe their bosses to get the heat off you. Look at what happened with the mob. They weren't able to bribe the feds' bosses enough to escape investigation like they had previously and they eventually got taken down. You've got to be smart, like the Kennedys, and take your ill gotten loot and put it towards getting your kids into politics so that you can get on the legal side of crime and corruption.

>>27844540
Mcaffee is that you? YOU BASTARD I WANT MY MONEY BACK YOU OLD SACK OF SHIT. FUCK YOU FOR SHILLING GHOST. HOPE CIA NIGGERS TURN YOUR ASSHOLE INSIDE OUT.

>>27839510
>>27839283
I don't think Jimmy is a dumb fuck for one and two I am pretty sure Jimmy would fucking move his ass out of the US.
>>27839510
But he can spend it brainlet. Nobody knows a transaction even occurs with XMR.

He only gets into trouble when he buys big shit that people can see in the US.

He can legally cross borders with an untraceable currency (so millions) and nobody even knows he has it and they will never be able to prove he does.

Also in the US you cannot be convicted of the same crime twice. So nothing can stop him.

>>27840075
"Prosecutors have ensured the man cannot access the largesse, however."

Wrong.

He has the seed. Prosecutors can suck a fat dick.

>>27845579
I think you're too dumb to follow the conversation honestly, because everything you said is either not related/relevant to the reply chain or was already part of the posts you are trying to argue against.