Turn it in at a gun buy back program.You will get more than you paid for it.Then buy a new one and it will be registered properly.That or take it apart and throw parts every place you can think of and wash your hands of it.If the gun is stolen and found in your posession $50 will seem like chump change to you.If used in a crime you will have to testify as to how you came to own the gun.I would guess you make more than $50 a day.Federal court pays better than county so hope for a federal case if you keep it.