boating accidents dont work on a transparent ledger
no tax authority is going to just leave you alone because you told them you lost the asset
Discussion
Not lost stolen like I said.
For sure you will not be able to buy things that can be seen (car ,house) and asked for about the origins of funds, if you pretend your coins have been stolen.
But you can still pay for lots consumption goods with p2p Ecash even today already, and I believe much more in a near future.
Anyway the point was just to say that if you try the boat accident thing, call your coins stolen and not lost to be credible
I have an older friend who declared a f--kton of kyc gold and silver lost in a house fire and subsequently declared bankruptcy, and the govt and banks took him at his word.
A dumb, blue-collar scam and I wouldn't rely on it, but I have to admit it has worked at least once.
He is now retired and lives on a blue-water yacht that he bought p2p after his bankruptcy.
It shouldn't work but somehow it has...
Yes people have a tendency to godify the "tax authority" forgetting that at the end of the day it's just people hating their shitty who don't give a fuck about you.
As long as you are not Al Capone or Ben Laden you'd be ok if you are more than 70 IQ
The only thing with Bitcoin is that as it's a public ledger you can't say that you lost the keys if the coins are still moving.
You have to declare them stolen and then live out of it like your friend