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Condition E/F seem most likely, but the most confounding. Why would you want to publicly tell everyone you're worth $200MM in Bitcoin when you aren't? Aside f

Condition E/F seem most likely, but the most confounding. Why would you want to publicly tell everyone you're worth $200MM in Bitcoin when you aren't? Aside from the bad actors that will try to wring the key out of you (politely or violently), you also have the Tax Office to deal with.

reddytowns 11y ago
The article explained that it may have helped him with getting VC money. Also, if he really is dodging taxes, the Tax Office would look like the bad guy going after what most people consider a brilliant scientist.
- uxp 11y ago
  > the Tax Office would look like the bad guy going after what most people consider a brilliant scientist Plenty of famously smart and able people have gone to jail for dodging taxes before. In the US, Wesley Snipes spent 3 years in prison for failure to pay taxes between 1999 and 2004. In Australia, Paul Hogan (aka Crocodile Dundee) was named as a defendant in a large tax evasion scheme, which was eventually dropped, but he's since been named in another tax avoidance by the US in cooperation with Switzerland. I can't see, nor understand, how being a famous tax dodger would make someone less likely to be investigated than someone making minimum wage just failing to file taxes.
  - reddytowns 11y ago
    I wouldn't consider Wesley Snipes and Paul Hogan especially smart... Besides which, on assets, taxes is normally only collected when an item is sold. Since the bitcoin in possession by Satoshi were not touched, there should be no taxes owed. Also, when you're rich, or perceived to be rich, people are afraid of harming you, and often treat you nicely in hopes you will return the favor, and this includes the government. If you don't see how this is true, then you have some awfully rose tinted glasses on my friend.
    - cantrevealname 11y ago
      > Besides which, on assets, taxes is normally only collected when an item is sold. Plenty of countries have an asset tax that you need to pay annually[1]: Argentina, Spain, India, Norway, Switzerland, and Italy. Spain's wealth tax goes high as 3.75%! Granted, it doesn't appear that Craig Wright's home country of Australia has an asset tax on cash or currency holdings. Furthermore, if you think about it, pretty much every country in the world has a type of asset tax that you need to pay annually -- it's called property tax. You need to pay your annual property tax even if you never sell your house. [1] https://en.wikipedia.org/wiki/Wealth_tax https://en.wikipedia.org/wiki/Wealth_tax
      - reddytowns 11y ago
        Right, so we're talking about bitcoin, and you bring up houses. We're talking about Australia and you bring up other countries. Does the term strawman mean anything to you?
    - reddytowns 11y ago
      I have to say, this downvoting without explanation is really uncalled for
      - reddytowns 11y ago
        Passive aggressive pricks
jupiter90000 11y ago
He may be a sociopath who wants attention and to feel like he got over on so many people. Maybe it feels powerful or exciting to get away with scams for him. Why would someone become a serial killer? To you or I it makes no sense perhaps, but certain people have a lust for getting away with things.
sopooneo 11y ago
"I'm known to have $200MM in BitCoin. If you can front me $10,000,000 cash to get the financial infrastructure in place to liquidate, I'll cut you in for 50%. I promise not to take your cash and disappear to an island." Maybe? But I think you ask a very good question. Also, maybe the guy just likes attention.
astronautjones 11y ago
he's bulletproof on the taxes for the coin - he'd never be taxed on it until he withdrew it, and if he actually owns that much, he could never withdraw that much without causing a massive selloff
- joezydeco 11y ago
  My point was this: if you owned $220MM in anonymous cash, why would you attach your name to it? Now everyone will know when and where you liquidate, even if you don't liquidate the entire amount.
  - astronautjones 11y ago
    100% - and for the record I think he's full of shit

reddytowns 11y ago

The article explained that it may have helped him with getting VC money. Also, if he really is dodging taxes, the Tax Office would look like the bad guy going after what most people consider a brilliant scientist.

uxp 11y ago
> the Tax Office would look like the bad guy going after what most people consider a brilliant scientist Plenty of famously smart and able people have gone to jail for dodging taxes before. In the US, Wesley Snipes spent 3 years in prison for failure to pay taxes between 1999 and 2004. In Australia, Paul Hogan (aka Crocodile Dundee) was named as a defendant in a large tax evasion scheme, which was eventually dropped, but he's since been named in another tax avoidance by the US in cooperation with Switzerland. I can't see, nor understand, how being a famous tax dodger would make someone less likely to be investigated than someone making minimum wage just failing to file taxes.
- reddytowns 11y ago
  I wouldn't consider Wesley Snipes and Paul Hogan especially smart... Besides which, on assets, taxes is normally only collected when an item is sold. Since the bitcoin in possession by Satoshi were not touched, there should be no taxes owed. Also, when you're rich, or perceived to be rich, people are afraid of harming you, and often treat you nicely in hopes you will return the favor, and this includes the government. If you don't see how this is true, then you have some awfully rose tinted glasses on my friend.
  - cantrevealname 11y ago
    > Besides which, on assets, taxes is normally only collected when an item is sold. Plenty of countries have an asset tax that you need to pay annually[1]: Argentina, Spain, India, Norway, Switzerland, and Italy. Spain's wealth tax goes high as 3.75%! Granted, it doesn't appear that Craig Wright's home country of Australia has an asset tax on cash or currency holdings. Furthermore, if you think about it, pretty much every country in the world has a type of asset tax that you need to pay annually -- it's called property tax. You need to pay your annual property tax even if you never sell your house. [1] https://en.wikipedia.org/wiki/Wealth_tax https://en.wikipedia.org/wiki/Wealth_tax
    - reddytowns 11y ago
      Right, so we're talking about bitcoin, and you bring up houses. We're talking about Australia and you bring up other countries. Does the term strawman mean anything to you?
  - reddytowns 11y ago
    I have to say, this downvoting without explanation is really uncalled for
    - reddytowns 11y ago
      Passive aggressive pricks

jupiter90000 11y ago

He may be a sociopath who wants attention and to feel like he got over on so many people. Maybe it feels powerful or exciting to get away with scams for him. Why would someone become a serial killer? To you or I it makes no sense perhaps, but certain people have a lust for getting away with things.

sopooneo 11y ago

"I'm known to have $200MM in BitCoin. If you can front me $10,000,000 cash to get the financial infrastructure in place to liquidate, I'll cut you in for 50%. I promise not to take your cash and disappear to an island." Maybe? But I think you ask a very good question. Also, maybe the guy just likes attention.

astronautjones 11y ago

he's bulletproof on the taxes for the coin - he'd never be taxed on it until he withdrew it, and if he actually owns that much, he could never withdraw that much without causing a massive selloff

joezydeco 11y ago
My point was this: if you owned $220MM in anonymous cash, why would you attach your name to it? Now everyone will know when and where you liquidate, even if you don't liquidate the entire amount.
- astronautjones 11y ago
  100% - and for the record I think he's full of shit