magnet of the torrent since the site seems to be overloaded: magnet:?xt=urn:btih:5b1b0092848d0b8e2f08d825111264c4818a2df3
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Hacker Publishes 2TB of Data from Cayman National Bank
281–290 of 491 posts
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#282Earlier quoted context omitted.
Because the social contract of most countries is that your legally gained cash is to be taxed in one form or another and thus has to be known by the tax authorities? You can argue that your assets are to be private to the general public but some countries do not have that assumption (Norway comes to mind).
It was possible for many empires to tax effectively before modern bookkeeping. Property tax needs very little in the way of financial records to administer.
What if I choose not to spend my wealth on property?
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#283Earlier quoted context omitted.
A recent piece in The Guardian argues that South Dakota and other US states are actually becoming the go-to place to store anonymously your illicit cash and make sure that your heirs can inherit it without taxes forever: https://www.theguardian.com/world/2019/nov/14/the-great-amer... Partly because the US has compelled other countries to provide more transparency without joining that transparency organization itself.…
That Guardian article is weird because it doesn't even mention federal taxes. How does a south dakota state trust help someone legally evade federal taxes?
No income, wealth or estate tax for trusts. And you don't even have to live in south dakota.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#284Earlier quoted context omitted.
Because the social contract of most countries is that your legally gained cash is to be taxed in one form or another and thus has to be known by the tax authorities? You can argue that your assets are to be private to the general public but some countries do not have that assumption (Norway comes to mind).
By "legally gained cash" I mean that taxes have already been paid for it.
Then, by definition it's not anonymous because the authorities know that you have it.
If you transfer it to someone else (legally) then there's going to be another taxable event, and the IRS will know you no longer have it.
If you're trying to store cash anonymously from the public, there are many countries where that's possible. If you're trying to store cash anonymously from the government, there's not really a legal avenue for that.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#285Earlier quoted context omitted.
So everyone is assumed to be a criminal until proven otherwise?
How else do you propose taxation is assured? Blind trust?
Design tax policy so that it doesn't force the government to be involved in every single transaction people engage in. Something like a land value tax, perhaps.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#286Earlier quoted context omitted.
How else do you propose taxation is assured? Blind trust?
Sure, why not? It has worked for many years before. The terms like "money laundering" are only recent and swept through without properly understanding the privacy implications (and probably didn't envisage the pervasiveness of modern electronic surveillance & data breaches in today's digital world). Anyhow, advancements in cryptographic Zero-knowledge proofs could hold the key in solving some of these problems (proof…
> Sure, why not? It has worked for many years before.
Citation very much needed. It depends on what you mean by "working".
There's references to tax evasion going back before the Roman Empire. For an example from the era of the Roman Empire, the topic of tax evasion is where the story of "give to Caesar what is his" (Mark 12:17) comes from. (I've found earlier Greek references going back to at least 300BC, but that's the easiest example to verify).
The state works better when it has funds to deliver on those plans - though there are many other factors that can disrupt it such as incompetence and corruption.
"Money laundering" may be a recent term, but it is not a recent concept. In fact some notable conquests on the ancient world wouldn't have been possible without concealing ill-gotten funds. It was a common tactic for avoiding paying tribute to a neighbour who defeated you.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#287Earlier quoted context omitted.
The global poor don't get to choose. When the choice is firewood or not being able to cook and stay warm, you use firewood. When the choice is find some way to stay entertained without taking quarterly vacations on CO2 generating flights to expensive getaways or keep polluting somehow no one bats an eyelid.
There aren't enough rich people to compete with commercial airliner's emissions. Cruise ships are HUGE emittors(they even get around emissions control laws) for example but the western middle class is their user not the rich or poor.
You realize the first-world middle class taking cruises is as much a part of the rich as billionaires right?
A yearly salary of something like 32k puts you in the global 1% of earners. I won't be so strict about the definition of the rich, but families having money for cruises are definitely part of the demographic I'm speaking to.
And I mean, vacations is are just the tip of the iceberg, those people so poor they have to use firewood go survive, aren't the reason we have so many commercial airliners shuttling around goods so we can have the latest throwaway item we desire in 48hrs or less.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#288Earlier quoted context omitted.
Because the social contract of most countries is that your legally gained cash is to be taxed in one form or another and thus has to be known by the tax authorities? You can argue that your assets are to be private to the general public but some countries do not have that assumption (Norway comes to mind).
By "legally gained cash" I mean that taxes have already been paid for it.
Validation of which requires a functioning pervasive VAT or similar mechanism to prevent laundering and fraud. There's no way to win here.
Truly anonymous, or even mostly anonymous money is basically isomorphic to bitcoin: it's mostly fraud and illegality, with just enough privacy advocates (and a few dirty preppers) to make it look legitimate.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#289Earlier quoted context omitted.
Some of it is - ZCash for example. But most of it isn't.
What about the last thread I read that concluded Monero was the answer here? Which one's been audited?
Zcash is more likely to be secure than Monero. Both have their issues, but the Monero system is significantly easier to de-anonymize.
Re: Hacker Publishes 2TB of Data from Cayman National Bank
#290Earlier quoted context omitted.
By "legally gained cash" I mean that taxes have already been paid for it.
Also, governments are finding new and creative ways to put new taxes on already legal money. So yeah, privacy matters.
> Also, governments are finding new and creative ways to put new taxes on already legal money.
Care to cite some? That's just a silly point. There's probably no area of regulatory theory more well travelled than taxation. Imagine a trick and someone has tried it, often thousands of years ago.
And it's even incorrect as a practical matter in the modern USA, where government revenue as a share of GDP has been going steadily downward for like 70 years now, even in the face of decades of deficits. It's literally the policy position of the ruling party!