If about to go bankrupt, what happens if you liquidate everything you own and put it in Bitcoins then you’re ok?
You can explain to the creditors yo dawg, bitcoin is going to go up to 40,000 and if you wait till crypto turns around I will have dough for you bro
But yo don’t take my bitcoins bro you can’t anyhow they are in a vault and I ain’t giving you my passcode to the vault and without the passcode those coins can’t be used bro
Can’t you use the bitcoin yo dawg defense?
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You can put your money wherever you want, but when you claim bankruptcy, you must state all assets. Forget to mention those bitcoins and you can go to jail for fraud. You wont go to jail for failing to pay debts (we don't have debtor's prisons anymore), you will go to jail for committing fraud.
Think its all going to rebound huh...
Lmaoo you have to be a dumb dude to even consider doing that Bitcoin was already diving back in like February last I heard and it was not a “correction” it confirmed to everyone the fragile state bitcoin actually is and showed it’s true colors.I would seriously stay away from that currency.Im sure many other currency’s are going to jump on the scene
Illegal bro
the bankruptcy judge will order you to give the access code
you refuse you got to jail for contempt of court
when you get out he will order again - you refuse you go back inside for contempt of court
this could continue for the rest of your life (and you still wont be declared bankrupt)
Odds are, bro, the bankruptcy juddge will turn you down for bankuptcy
Yeah, like that will work. Good luck.
Bitcoins is due to take a major dive in value.
It is called Fraud and you are disposing of assets, and will be prosecuted
Most people on the verge of bankruptcy have no money. To put in bitcoins (or anything else for that matter). Silly as it might seem, that's why they're about to go bankrupt.
You can't do that legally.