this post was submitted on 07 Dec 2023
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[–] [email protected] 147 points 2 years ago (1 children)

"while your investment appreciates in value", hopefully.

[–] [email protected] 37 points 2 years ago (1 children)

Even if it loses 90% of its value it's still a win if the money came from credit cards you never paid back. Although the couple of hundred bucks you get might not be worth the hassle

[–] [email protected] 13 points 2 years ago (3 children)

You will also be unable to take out any debt upon release. It's difficult to get credit as a released felon without a history of defaulting on debt.

So, being generous and saying that he sees a 4% return on his investment, he'll have slightly more than he went in owing, and will be completely unable to even get a car loan, a decent job, or place to live.

He will have turned 0 dollars in to a lifetime of hardship.

[–] [email protected] 21 points 2 years ago (1 children)

Correction: He will have turned 0 dollars into a lifetime of hardship and a few hundred dollars.

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[–] [email protected] 121 points 2 years ago (1 children)

In prison.

Butthole destroyed.

Make check on coin.

Massive loss in value.

No.

[–] [email protected] 85 points 2 years ago* (last edited 2 years ago) (4 children)

Just so you know you don't need to go to prison in order to get your butthole destroyed. It's much easier to just go on Grindr, which is only an emotional prison.

[–] [email protected] 24 points 2 years ago

Fun fact you also don't need to go to prison for your crypto to depreciate!

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[–] [email protected] 80 points 2 years ago (4 children)

You'd still owe that debt. Unless you go to prison for live than the debt's statute length. Generally 7 years.

Also some jurisdictions make you pay for the privilege of going to prison.

Ymmv, choose your state of jurisdiction very carefully.

Also crypto is a bubble IMO.

[–] [email protected] 29 points 2 years ago (3 children)

IMO nothing, it's pure speculation powered by nothing but blind greed. If it isn't a bubble, then nothing is.

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[–] [email protected] 7 points 2 years ago* (last edited 2 years ago) (2 children)

Wait if you can avoid debt collectors for 7 years they just forget about you?? Like I could fuck off to another country where they can't garner my wages and come back and they can't do shit about it?

[–] [email protected] 9 points 2 years ago

It’s not that clearcut: they have various tricks to keep it alive, if they know where you are. This is why you never admit to a debt nor pay the token amount they offer; both are tricking you into legally claiming responsibility, so they can keep the debt alive

[–] [email protected] 5 points 2 years ago

Debt is super weird. In some cases you can have thousands very much just disappear after 7 years, in others they'll hunt you down mercilessly over a $25 copay they mailed you a "this is not a bill" letter about 2 years ago. My wife was pretty deep in debt when we first started dating and I literally have seen both extremes and everything inbetween.

[–] [email protected] 6 points 2 years ago

Don't pay and ignore collectors.... Profit

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[–] [email protected] 65 points 2 years ago

I think you would make more money if you gave handys behind the Wendy's dumpster every day for 7 years.

[–] [email protected] 51 points 2 years ago (1 children)

You already fucked up in step 2

[–] [email protected] 49 points 2 years ago* (last edited 2 years ago) (1 children)

Come to that you fucked up in step 1. Do you really think the credit card companies are gonna let that debt just sit there not accruing interest and not send debt collectors to your house while you're in jail?

[–] [email protected] 33 points 2 years ago (1 children)

Not if you sell your house to buy more crypto ;)

[–] [email protected] 44 points 2 years ago* (last edited 2 years ago) (1 children)

Let's go one further:

  1. Get turned into a vampire

  2. Buy crypto

  3. Go sleep in your coffin for 100 years

  4. ???

  5. Profit

[–] [email protected] 23 points 2 years ago* (last edited 2 years ago)

~~5. Profit~~

  1. Realize it's at 0$

  2. Cry

  3. Remember you bought doge because Elon Musk said so

  4. Cry

[–] [email protected] 36 points 2 years ago (1 children)
[–] [email protected] 7 points 2 years ago

I mean if I had gone to jail right after I bought any of my crypto I'd be doing better. Sadly, it makes more sense to pull the crypto than default.

I think I had less than a cent of bitcoin and managed to pull 20 later (almost all of it) then another 20 later. Huge percent profit.

[–] [email protected] 34 points 2 years ago (4 children)

You'll have to somehow launder that crypto first.

[–] [email protected] 32 points 2 years ago

You probably wouldn't need laundered crypto, but you would need to be able to hide it from the bankruptcy court. This only works if you can clear the credit card debt.

[–] [email protected] 8 points 2 years ago (1 children)

Monero doesn't need to be laundered.

[–] [email protected] 7 points 2 years ago (3 children)

It does if you want to spend it in any meaningful way

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[–] [email protected] 5 points 2 years ago (1 children)
[–] [email protected] 11 points 2 years ago (1 children)

That sounds like a sketchy af bt client lol. "download up to 5x faster and get 69 more boobies per porn with our downloader!"

[–] [email protected] 10 points 2 years ago
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[–] [email protected] 27 points 2 years ago (1 children)

What country does anon live in, where prison food and housing is free?

[–] [email protected] 40 points 2 years ago (1 children)

a country that has any reasonable human rights?? well unless you mean "free" in the general sense in that someone does have to pay for it even if not the prisoner...

[–] [email protected] 27 points 2 years ago (2 children)

(The shithole states charge prisoners for room and board)

[–] [email protected] 12 points 2 years ago (1 children)
[–] [email protected] 15 points 2 years ago (2 children)

THE SHITHOLE STATES

CHARGE PRISONERS

FOR BEING IMPRISONED

Sorry I know sometimes you need to yell to be heard through the internet tubes

[–] [email protected] 10 points 2 years ago

The internet is not

the internet, is not a big truck

itititit's a series of TUBES

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[–] [email protected] 11 points 2 years ago

What do they do if you dont pay? throw you in double prison?

[–] [email protected] 21 points 2 years ago* (last edited 2 years ago) (1 children)

I know someone who did this. Now, He is in Loss.

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[–] [email protected] 18 points 2 years ago (2 children)

Someone actually did this, then built a nuclear fallout shelter in their backyard in the middle of some city, but he did it all redneck and it blew up or something while building an underground generator or something and killed a 17 year old kid, he went back to jail, got out after another crypto spike, tried to cash out and immediately got sued by the family of the dead kid for wrongful death and got sued by the IRS for back taxes. It's a fucking rabbit hole of a story.

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[–] [email protected] 17 points 2 years ago (3 children)

the IRS TAXMAN finds out and resizes anons rectum in search of the missing funds

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[–] [email protected] 9 points 2 years ago (1 children)
[–] [email protected] 25 points 2 years ago

Fast and easy way to contract a disease. Wouldn't recommend

[–] [email protected] 7 points 2 years ago

Be me

Be me

Be me

[–] [email protected] 6 points 2 years ago (1 children)

so if you go to prison all your debts are forgiven?

[–] [email protected] 11 points 2 years ago (4 children)

After 7 years in the US all debt falls off. So if he's in prison for 7 years, yeah it'd all go away.

[–] [email protected] 12 points 2 years ago* (last edited 2 years ago) (4 children)

Well, not exactly. The debt is still there, they just can't force you to pay it. Exceptions apply, like student loans, and they can probably still claim property in the case of bankruptcy or inheritance.

Also your credit score is going to tank hard.

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