Can anyone find a flaw:
1) have a decent credit score.
2) Take out the biggest non collateral loan possible.
3) Dump it all into crypto. Move it to a cold storage wallet.
4) Declare bankruptcy.
5) You could be holding hundreds of thousand in crypto and they can never force you to liquidate to pay debts.
6) Wait a few years, move to Belize or Belarus, denounce US citizenship Cash out millions and live like a king.
nice just maxed out 4 cards
I have thought about this. Only thing I'd add is do it to EVERY bank and lending institution that will open you an account.
You wont be able to get a big enough non collateral loan to make millions.
You will be audited and asked for reports of where the money went.
>You will be audited and asked for reports of where the money went.
Lost them on a phishing website.
ofc he will, he said "wait a few years". if he gets in on just one crypto that does a similar thing to what BTC did, you wouldnt need more than 10k to get rich. But that is a huge if, and also my biggest problem with this. Let's say you've waited for 2,5, constantly thinking about howw much money your shit is worth. Out of nowhere, crypto dies, or something happens to your wallet. You are fucked. best be willing to commit suicide if you plan on going down this path. That, and u need to have some large balls
I bought crypto with it and am not willing/forgot the private key.
And then just smile politely. But do this in,court not when the cops come because they might shoot,you.
He "made an extremely foolish and emotional speculation on crypto" and got summarily "justed" or "hacked".
Well they'll sue you to shit. It will be so annoying that you might as well skip countries and start anew and if you due that its just good old fraud
bankruptcy doesnt free you of guilt. You'd still have to proof how you went bankrupt
>change your whole life and live in another country to make a quick buck
Retard.
im already doing this
15k debt since 2015
144k portfolio
already getting sued by wells fargo
not yet declared bakruptcy
>already getting sued by wells fargo
Can't you just pay them back?
Why not sell off part of your portfolio and repay the debt?
yea, thinking about it.
but 15k is 15k.
You cant go to prison for forgetting your private key.
My point is doing this there is literally nothing the current legal system can do.
Your flaw was posting it on here. I sent a screenshot of this and your IP to the IRS.
>Never take a risk necessary to live the life you want.
Retard.
my credit is already super fucked from not making a payment in over a year.
im seriously done with credit.
i mean crypto is supposed to liberate us from the banks right?
A million dollars is buy a big,house with a qt slavic wife and never have to work another day shitposting 24-7 while playing video games,money in Belarus.
>You cant go to prison for forgetting your private key.
You'll have to cash out one day.
ofc you can. you cant just be negligent with loaned money.
This could work, OP.
>sry got haxed all loan mony gone
...
Kek
Not in the US.
As we speak there are people who bought btc at 20k figuring it would double by Christmas. They will spend their holidays trying to figure out how to explain to the wife, then to the family that they lost their home. Happy Hanukkah!