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@deleted
Reading about Ross Ulbricht (aka Dread Pirate Roberts)
Asking for 33 million $ in bitcoin back from United states law enforcement taken from unencrypted wallet used for Silkroad user escow payments....
(Good luck with that)
https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
Also thought to have another 80 million in another private wallet that was encrypted which I guess he will get back eventually as it they'll never be able to prove in if it contains anything illegal or any gains from legal activity.
Possible $80 million provided enough motivation for him to remember the key to human memory.
Made me start thinking if Bitcoin could cause huge problems for taxation collection.
Essentially a business or individual could invest capital gains made in sterling into bitcoin held within an encrypted wallet and then stupidly forget the private key.
The gain would legitimately be wiped from recorded taxable income, if you are lucky you might remember the private key after a few months into the next tax year and so the gain would rematerialise only against that years allowance.
Or you might not even bother to tell the taxman anything as without an expert investigation of blockchain transactions the bitcoin would be untraceable anyway.
This is a major problem for bitcoin because not only is it a currency without a military backing.. its a currency that undermines ones that do.