Silk Road forums

Discussion => Security => Topic started by: vbcycle on October 22, 2012, 12:30 am

Title: Bitcoins, wallets, & divorce
Post by: vbcycle on October 22, 2012, 12:30 am
I'm considering that my marriage may be sinking, or going up in flames. I'd like to set aside a small (ok, larger than that) nest egg - that her lawyer cannot find.

Is a blockchain account secure for the long term - a year or more - to squirrel away some money so that it is never found in the divorce proceedings?  Does anyone have other suggestions?
Title: Re: Bitcoins, wallets, & divorce
Post by: jsmithy123 on October 22, 2012, 12:37 am
why don't you install bitcoin software and run your own wallet, make a couple of encrypted copies of the file, and they'll be usable for as long as you retain access to one good copy and remember the password. They can disconnected from the net.
Title: Re: Bitcoins, wallets, & divorce
Post by: thesearstower on October 22, 2012, 01:48 am
Keep in mind, too, that BTC is a new and relatively volatile currency. Even if your coins are safe from theives, they're not safe from the fluctuation of the market. You might open up your treasure chest in a year and find that your 1,000 BTC can't even buy you a contact high.
Title: Re: Bitcoins, wallets, & divorce
Post by: tearghoa on October 22, 2012, 03:15 am
deposit cash, keep a printed copy of the key.
Title: Re: Bitcoins, wallets, & divorce
Post by: Reece on October 22, 2012, 03:25 am
Cash > Bitcoin

Title: Re: Bitcoins, wallets, & divorce
Post by: kitkat82 on October 22, 2012, 04:12 am
You could ask an accountant these questions in a "hypothetical" manner.
Title: Re: Bitcoins, wallets, & divorce
Post by: DankSources on October 22, 2012, 05:00 am
Could open up a deposit box in a fine canadian bank, or actually any storage unit in any city that can be bought with cash on hand.  -- But sticking to digital bitcoins, yep. 100% cash withdrawls -  nanaimo gold: 500 a day cash deposits into their bank accounts same day bitcoin transfer. ( a month  to move 50k or so into bitcoins but can also do money grams / WU to them  to speed it up , but they have some limits there so they just don't run out of bitcoins )
Title: Re: Bitcoins, wallets, & divorce
Post by: waterstruck on October 22, 2012, 08:18 am
Depends on where you are in the world, but often your assets for splitting during a divorce are determined from the date the marriage broke down. This date is determined in a number of ways but generally it's when you are not considered to be living as husband and wife (eg. the date you started living apart, or the date you started sleeping in separate bedrooms, etc).

It's best to move the money well before this date, ie. when you are still "trying to make it work". By doing this, you can use any excuse as to why you removed the money from your accounts (lost at the casino, etc).

During divorce, you will need to submit statements of all your assets on the date you stopped living as husband and wife. Obviously if you have hidden bitcoins prior to this, they will not show up.

I don't know your location but this is how it works in several EU countries.

Don't put all your eggs in one basket obviously. Keep some cash too, some gold, etc.

A bit of unrelated advice, it's never too early to consult a lawyer.

Title: Re: Bitcoins, wallets, & divorce
Post by: dreamxweaver on October 22, 2012, 04:46 pm
Marriage sucks in over 40% of the times, such a shame.

Converting cash into bitcoins seems a bit risky to me, since you never know for sure what it is going to be worth. Though at the moment it seems that people who bought a lot in the past, can get a huge profit out of it now.

Maybe get a secure safe and bury it somewhere under the ground where nobody will look for the next couple of years?

Not sure how that thing works what waterstruck said. I mean, how would you possibly show someone from what moment you didn't live as husband and wife anymore?

Hope things work out for you. Good luck!
Title: Re: Bitcoins, wallets, & divorce
Post by: DankSources on October 22, 2012, 09:55 pm
She will always remember the day it was over for her, always.  And they always take her word for it.
Title: Re: Bitcoins, wallets, & divorce
Post by: vbcycle on October 24, 2012, 01:17 am
Thanks all...

The lawyer meeting is next week - never to early, eh?

I like her... but she refuses to get help for her alcoholism and depression, I'm just really tired of being a single parent in a married household.  Need a break, you know? And I'm in the fine, community-property, "equitable distribution of assets," Commonwealth of VA.  I know - too much identifying info.. Sue me.
Title: Re: Bitcoins, wallets, & divorce
Post by: johnwholesome on October 24, 2012, 02:32 am

I like her... but she refuses to get help for her alcoholism and depression, I'm just really tired of being a single parent in a married household.  Need a break, you know?

Hang in there bruv and don't feel bad about it. You gotta do whacha gotta do. Think of the kid(s). There's no point of one damaged/dysfunctional parent wearing down the remaining functional parent to the point where both become dysfunctional parents.

Maybe it will be a wakeup call for her.

Heartfelt good luck to you and the kids man...