ASIC Owners (or anyone with lots of FPGA): Cashing out BTC - page 2.

koin

legendary

Activity: 873

Merit: 1000

Quote from: dtmcnamara on April 10, 2013, 09:12:27 AM

I cannot be the only one thinking about this.

there is a fantastic number of buyers who would love to meet you. probably a few minutes on localbitcoins will help you find them. they might not share their buy interest at spot but if you contact a few buyers with large amounts showing you'll probably find some who will pay right near spot to get access to larger sized trades. if you need to, sell a little below spot -- that'll attract buyers like ants to honey.

also the #bitcoin-otc marketplace is a good place to advertise your supply, especially with its web of trust (wot).

Wayne_Chang

sr. member

Activity: 448

Merit: 250

Luckily, I do not have the problem because I don't have an Avalon.
I prefer to worry about it after I get my Avalon. It's no need to worry about thing which is not exist.

cedivad

legendary

Activity: 1176

Merit: 1001

If you want to cash out from the bitcoin economy silently, you buy items with bitcoin.
Such as gold.

dtmcnamara

full member

Activity: 201

Merit: 100

This question is to the owners of ASIC setups, or anyone with a large hashrate. How do you plan to withdraw your money into your bank accounts without it being seen by the big boys, government? This has been a questions I have been wondering for some time.

Theoretically speaking, if I had 2 Avalon units hashing at 66,000 each I would be pulling in on average 7.7 coins at the current difficulty, $1,900 a day. If I were to wait a week and want to transfer the funds to my account I would be looking at upwards of $9,500. If I were to deposit this every week into my account I am sure someone would notice something and start to ask questions.

I know I could purchase items with BTC, but this is more a questions about cashing out and making sure it goes unnoticed.

I cannot be the only one thinking about this.

Topic: ASIC Owners (or anyone with lots of FPGA): Cashing out BTC - page 2. (Read 3352 times)