Thanks buddy. Good advice!
Yes, Katie does have an account, but she only uses it once a month (to withdraw cash), and I'm not named on it. But yes, we do have access to a functioning bank account, she'd be willing/able to let me use briefly if that helped solve major problems and made life better. No smart device though.
I'm going to summarize all the advice I've got so far:
Very helpful because it helps me get an idea of what ideas are definitely no good, and what ideas are worth pursuing.
I will just assume I'm going to pay some taxes, because this will be considered income or capital gains at some point. And I agree, they won't be too bad, since I'm not currently making much at all, and it won't push me into too high a tax bracket. Especially if I do some of it in December, and some of it in January (2 tax years). I might benefit from some professional advice on that, since it is outside my knowledge base.
Powering down sounds like a plan. I'm going to need liquidity asap. Getting funds into BTC (to increase liquidity further) will be next.
Getting the debt reduced? I think that's possible, even with Covid restrictions and clogged courts. It just might take quite a while, cost some resources, and require more stress and loss of privacy. But then I'd have less to pay. I don't know. It's still an option but I'm going to slide it to the back burner for the moment. To be honest, if I can pull it off, doing it quickly (at "full price") appeals to me a lot. I've never had that option before, so I hadn't really even fantasized about it, but now it's within reach.
Transferring BTC directly seems pretty ideal, but that clashes with the "don't give her the opportunity to claim you didn't pay (again)" concept. Lawyers could be brought in to do up contracts to ensure everybody behaved properly. Yes. direct BTC transfer would be relatively easy, and possibly get around taxes. I might need an accountant to help me do it that way properly. I think there are ways that could go wrong.
Converting BTC to cash locally is still an option, even if I don't have a smart device. For example, if I could locate someone I trust, we could do the whole thing on their device, or a 3rd party neutral person's device, and both check to confirm it went through. Same idea as glancing into the paper bag to see if the cash is there. If you trust the person, chances are low they're going to pull a knife, or somehow scam you on the transfer. I think it's a potential option.
And yes, converting BTC into silver/gold coins through online dealers, and then cashing it in locally is an option. In fact, I think I'd like to try a test order asap, maybe a few silver bars to see how the process works, and make sure I trust the dealer. I'm going to have to find somewhere within Canada that accepts BTC. From what I've seen, they mostly also require an account with Bitpay, something I don't think I have access to. For companies that don't require Bitpay, it seems they allow direct transfer from your wallet. I'd have to make sure they were trustworthy. Hmmm.
"Bitcoin: We accept Bitcoin as a payment method. When paying with Bitcoin, a discount of 3% is applied from the item's full price. All customers are subject to provide additional verification to confirm identity."
Ahhhh, the "built in privacy" of crypto I've always heard about! Hahaha.
That would be good, though, because I could use a little cash. Having it "stuck" in crypto world is a bit frustrating. And yes, I realize I should have researched these pathways sooner. It seemed like this day would never come, and then suddenly it arrived almost out of nowhere. I regret not learning this and trying it out before now. Hopefully I can pull it together and make this happen.
Okay, a general idea is taking shape. Possible steps:
One issue there, I think she can still apply to have the 2 children considered "adult minors" until they're 25. That only works if they're living at home with her (which I assume they both are). What was that rap song? "18 years, 18 years, she got one of your kids, she got you for 18 years!" Well here in Canada, it's actually 19, and if the mother wants, 25. A quarter century out of the middle of your years, daaaamn. That's a life sentence, literally.
Anyway, that pushes me toward the court solution. If I went that way, it would not only reduce the amount, but possibly get it ended for good.
Here's another idea, I just had based on the above...
To clarify, it's not that I can't have a bank account anymore, it's just that the account won't work. So yeah, I can walk into a bank or credit union and open an account (assuming they accept my outdated ID as proof I am who I say I am). I simplified things in my post, but how it actually works for men in Canada in debt to the mother of their child, is you can have a bank account, you just can't keep anything there. If you deposit anything, it gets instantly garnished to pay down your debt (and a fee). It's hard to keep a few dollars in there so your monthly bank fee gets paid, and banks don't like people who have accounts locked by the government, but it can be done.
So in a way, that's how I could get the 'money' to her, without involving her directly. Open an account, use an exchange to convert BTC into dollars to fund the account, and allow it to be seized. Maybe even go in and talk to the bank/credit union about it, ask them about opening an account for the purpose of making this transaction. I assume they'll be willing to work with me if they're going to make a profit and nobody is breaking any rules.
That solution doesn't solve the "adult minors" problem mentioned above, but I think it's still worth looking into.
I suppose something else I haven't thought of yet is calling up the govt agency directly. "Hey, I've been ignoring you for years, but I just did well on crypto, and want to know how I can close this out." I don't know how terrible that experience might be. Maybe it's worse in my head. I hate dealing with those kind of people. But an advantage would be, that's when I could mention that I'm paying X=10 instead of X, and a mathematician is going to be required to figure out what amount I really owe. Maybe I could suggest a couple terms, and we could notarize an agreement. Something like I'm going to pay the full (erroneously inflated) amount, but then no more, even if she declares them as adult minors living with her. Lump sum and done.
HIVE is predictably pulling back from the spike, but as we can see on that STEEM chart, that doesn't mean it's done. It could very well just consolidate and then have a massive surge through into January.
Sucks that cryptos are down hard today, though. Something about a global financial shock over another Covid variant being discovered? Now I don't have enough to pay off the debt anymore! I feel a bit exposed, having put this out on the internet... and now not having the amount I need to proceed. But it's not like I have to do this instantly. As long as I get the ball rolling before Christmas. I think markets will start recovering by then.
Shit, I'm no closer to a decision than I was yesterday!
But this is helping. It feels like progress, even just to get some bad ideas crossed off the list. Anymore? Brainstorming? Reactions to the above?
RE: HIVE spike to 3 USD! This could change my life, but I need advice