Possibility 1 - Foreign Inheritance Tax Exemption

KEY TAKEAWAYS:

● Russia and USA both have tax loopholes and/or deductions that can be
taken advantage of.

● Inheritance tax is not applied to inheritance received from abroad - neither

in USA, nor in Russia

● An artificial inheritance scenario would have to be fabricated on

documents (with the assistance of the right Thai lawyer) in which you
inherit the money, can legally report it, and never be taxed on it.
 Possibility 1 - Foreign Inheritance Tax Exemption
1.) Possibility #1. - Bring the money from overseas to home country via one of many available tax
exemptions. Specifically, in many countries, the tax office will allow you bring money from outside the
country if it is inherited; i.e. someone left it to you in their last will & testament and has passed away.

● In the USA, the IRS will allow you to inherit an unlimited amount as long as you report it. “a
U.S. person who is inheriting a foreign estate from a foreign person who had no ties or residency
issues to the United States will not have to pay any tax on the estate.”
- https://www.goldinglawyers.com/u-s-tax-on-inheritance-from-overseas-irs-international-repo
rting/

● In Russia, the Federal Tax Authority applies the law of the country from which the
inheretance comes. I.e. if the inheretance takes place outside of Russia, they recognize that, as
this is taking place outside of the Russian Federation, they have no right to assert any claim on
any portion of the transaction; this is a matter belonging to another country.
- https://www.globalpropertyguide.com/Europe/Russia/Inheritance

● Thailand does not impose any inheretance tax until more than appx. $2.3MM is inherited
- https://www.nationthailand.com/Economy/30267609
Possibility 1 Cont’d
What would theortically be needed:

● Thai Lawyer willing to help provide all necessary legal documentation for above stated
situation. I.e. a “legal” situation would have to be fabricated (on paper) to create the above
mentioned situation. Specifically, In order to transfer property (assets) at the death of a person
in Thailand, it is necessary to obtain a probate order from the Thailand Probate Court.

Challenge: Whether or not such a situation is possible to fabricate on paper only - and if so, finding
a lawyer willing to cooperate for the right price. Perhaps, this situation could be completely
fabricated on paper - after all, the documents are to be submitted to the authorities of a different
government, and not the Thai govt.

Risks: The obvious risks in doing the above mentioned thing, from a legal perspective.

Benefits: 1.) The fee for the above mentioned lawyer would very likely be in a similar amount, if not,
much less, than the combination of market-price fluctuations when using bitcoin, bitcoin transaction
fees, tumbling fees 2.) No risk of BTC wallet being hacked, phished, lost, or stolen. 3.a) No risk of
federal detention for failing to report income & potentially other more serious financial regulations.
3.b) As a result, not risking losing all the money to the IRS and being incarcerated.
Possibility 2 - Washing the old fashioned way, with new
technology
In abstract: The idea would be to use the existing cash/BTC to either purchase or
build an ecommerce website which accepts bitcoin as payment for goods or
services (such as a dropship website). All the documents - invoices, tax
documents, etc. can be faked on the darknet market (under services - forgeries).
Then, filter in the bitcoin on behalf of many fabricated “customers”, and take cash
out. Might still be a good idea to create a bank drop in this case though, not in
your own name. It’s currently extremely easy to open a transferwise “borderless”
bank account, including debit card from online. They’ll ship the card anywhere.
You can find identity documents for this example, or any other bank drop, also on
the darknet markets.
Possibility 3 - Holding BTC in a wallet and/or transferring it
to yourself
KEY TAKEAWAYS:

● BTC transactions are not tied to your identity, but it is relatively difficult to actually remain anonymous in
the end, without the use of drop accounts.

● Having your bitcoin stored online, or making large transactions, is very risky due to hackers & theft.
Having a physical wallet can also be risky - but this is manageable with backups.

● You will lose money on transaction fees, the bid-ask spread, and possibly lose the most money on
market price fluctuations (although I personally believe we aren't finished going up)

● Holding onto bitcoin and selling it online in many small transactions, instead of one large one, might
actually make you a lot more money - if you have someone who knows what they’re doing, manage it
for you. This pretty much is an investment.

● There are ways to address the very long list of possible problems that could affect you in transferring &
cashing out your BTC - it would therefore be beneficial to have assistance from someone who knows.
Possibility 3 - Cryptocurrency Wallet - Transfer from self to self
This option also has many obvious advantages, as typically, BTC is not tied to your identity. There are
however, a few key challenges in keeping it that way, as well as other potential pitfalls that come with doing
this, which should not be ignored.
Challenge(s):
1.) Staying anonymous - Transactions can potentially be tracked through the blockchain from beginning
to end. While these aren’t tied to anyone’s identity, generally, redeeming the BTC. for cash later will involve
the use of some kind of platform which is tied to your identity. It would also be a very bad idea to do a cash
transaction for large amounts of BTC. Furthermore, even looking at your transactions on the blockchain can
be risky, as it can give your location away through your IP address, if you forget to enable your VPN or
socks5 proxy server. You also still might have to answer for the unexplained wealth in the end.
2.) Inevitable loss of BTC through the nature of BTC transactions itself - Bitcoin transactions are not
completed and confirmed by bitcoin miners on a first come, first serve basis. Rather, they simply take the
top percentage of transactions with the highest fee per byte of processing. I.e. those who pay more are
served first. As bitcoin is getting unlimited media attention, as well as trading near all-time-highs, this means
the number of transactions has gone through the roof. This has the obvious impact of driving transaction
fees very high. Potentially, it could cost 5%-10% of your overall bitcoin just to transfer it to yourself.
 There is also the obvious impact of market price fluctuations in the price
of bitcoin. Obviously if the price continues to rise, this could benefit you greatly! if it
falls, could potentially cost a fortune (50% or more).

Bitcoin Trade Speculation Jan 29th $34,980 vs. All time high $57,790 vs.
Today (next page) $45,700
Jan 29th $34,980 to $57,790 to $45,700
= 65% UP in a matter of 16 Trading days, followed by 22% down
My personal theory is that we will see a price of appx $74k within a matter of about 4 weeks
Possibility 2 Cont’d
3.) Potentially losing all your coin - Transferring large amounts of BTC at once can also catch the attention of
very skilled hackers who could find your IP address and potentially PHISH you into sending your bitcoins to
them, or simply steal the BTC directly from you by exploiting some kind of vulnerability they find on your PC or
phone. This is a much bigger risk than many people realize. Also, if you somehow misplace the password,
mnemonic, or USB containing your wallet, there is pretty much no way to recover it, unless you have a backup
available offline.
4.) Redeeming BTC for cash takes a long time and likely will result in a loss, due to the ‘Bid - Ask Spread
- This also is pretty much an inevitability when trading bitcoin (or any other currency or security). If bitcoin is
trading at $47,000 today, and you want to buy it, you’ll likely pay $47,500/btc, and if you were to sell, maybe
you’d receive $46,000/btc.
Solution(s):
1.) Stay as anonymous as possible - It is possible to make the strings of transactions practically untraceable
through the blockchain. This can be done, for example, by transferring it to multiple of your own wallets and using
the “use multiple send addresses” option in your wallet software, then to a BTC tumbler, then trade for another
crypto currency. The process can end at this point, in selling the new crypto., or it can be converted once again
back to bitcoin for further anonymity, and then sold on the market. The only way, at this point though, not to
involve your identity at the endpoint of the transaction in getting cash once again, is to either use a bank drop in
someone else’s name, or having someone else manage your bitcoin wallet for you.
2.) Nothing really can be done to influence transaction fees or market price. The only thing to do here would b
to mitigate your risk of exposure to market fluctuations. That means, actively keeping an eye on the market
to look for signs that you should cash out immediately so you don’t lose almost everything (or maybe better to
employ someone with chart analysis & interpretation skills to do this for you).
Possibility 2 Cont’d
3.) Keep your btc. Offline as much as possible and store a hardware backup in a safe place (avoid
storying BTC in online wallets at all costs!) - The only way to completely keep your bitcoin unexposed to
potential online hacking risk or loss, is to keep your wallet stored on an encrypted piece of hardware, with a
backup of that wallet kept on a second piece of encrypted hardware. An example would be to have your
primary wallet stored on an encrypted USB stick, with the backup & electrum wallet software on an
encrypted, external hard drive, which can then be stored somewhere like a safe-deposit box in a bank. Keep
your passweord & your key in a secret place as well, written by hand, or in an encrypted file.
4.) The only way out of the waiting time, to redeem to cash quickly, is to simply negotiate a deal with a trader
in which you will sell the coin below market value. The only other alternative is to sell the BTC in small
transactions at a time on a BTC market such as localbitcoin.com, or Paxful.
This could however, be very beneficial in the end - it could make you a decent return, or potentially
make you very rich (or poor). Specifically, this could potentially earn a significant amount of money in two
ways: 1. As the value of BTC appreciates, obviously, the value of your BTC holdings does as well. 2. If your
BTC is sold by an active BTC trader, working on your behalf, you could sell the BTC. ABOVE market value,
over the course of many small transactions on Localbitcoins or Paxful. Of course this will take more time, but
the returns would definitely outperform the stock market or just about any other security into which you could
invest.
HAVING SOMEONE ASSIST YOU
It is crucial (obviously) to choose someone who knows what they are doing - as it is
VERY EASY to loose ALL of your bitcoin - someone who knows bitcoin who you can
(relatively) trust and rely on.
Therefore, whomever you employ, make sure that you and they remove any and all
vulnerability. That means, that this person could handle all the idea generation and
transfers, but just as in a large corporation, he doesn’t have the authority himself to
transfer the money. In other words, you hold the keys (passwords and wallet keys) and
he/she cannot transfer your BTC without you.

He/she also should provide a record of all financial movements so that the bitcoin can be
accounted for, providing complete transparency.
Probably also would be better for you both, if possible, never to meet in person, and not
to know each other’s face or alias.
PROPOSED DUTIES of said-Person

● Planning and execution of transactions

● Cyber Security/OPSEC - including protecting yours/theirs identity in remaining
anonymous
● Creation of wallets - both on & offline
● Website Purchase and/or development
● BTC investment management - keeping up with the market & analysis of price
behavior
● Acquire or Set Up drop accounts
● Utilize the darknet marketplaces
● Converting bitcoin to cash
● Documentation - Acquisition & Production (invoices, tax docs, etc)