Fastest Way To Cashout Alot of Bitcoins

SebastianJu

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Quote from: crazyivan on April 08, 2015, 01:23:30 AM

So, what s the verdict in the end? If I ever make 6 mill in BTC, I would really like to know the way to cash those out. What has your friend opted for?

You would get an advertisement for cointrader.net. Which doesnt make much sense for the topic question except that this exchange is advertising with a high weekly withdraw limit.

If you really would want to sell then use the biggest exchange you find that can give money in your currency to you. Then slowly sell in packages. Maybe make iceberg orders if available.

Thats the only way to not crash the price on the way. Which would mean you lose too much money because your coins would sell too low.

I guess its time you work hard now... Tongue

crazyivan

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So, what s the verdict in the end? If I ever make 6 mill in BTC, I would really like to know the way to cash those out. What has your friend opted for?

TedMan123

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hey

Im not hating if you/he wants to sell some bitcoins, contact me ill take some off your hands.

Cheers
Tedman123

SebastianJu

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Quote from: jacktyme on April 06, 2015, 05:39:21 PM

Quote from: Enjorlas on April 06, 2015, 11:42:21 AM

This thread is pissing me off. Why does anyone care if he is telling the truth?

Give him advice so we can all learn. Or don't. Anything else is noise.

It is actually laughable at how people just want to see how much coin another person has just to satisfy their curiosity. And there is no way I am posting an address because on the internet anything is hackable.

**

I have used cointrader.net a few times and I will be sticking to them. It clearly says on their site that the limit of withdrawal to a bank account is 2.5 million a week and 7 million a month. I already spoke to agents a few times and since they are in Canada I will be using them.

**

And to people that think 6 million in bitcoin is alot, well there are alot of individuals that have big amounts of coins sitting in wallets. I'm not going to disclose where we got to this amount for ourselves, but i'll just say, in 2009 when bitcoin was first released it was extremely easy and fast to accumulate 100k bitcoins.
I won't be responding anymore to this thread, and to all the people who want to get off on seeing how much bitcoins someone else has....get a life!

Right... thats your explaination? Roll Eyes

First it was real estate, which might sound as it could be the case. Some rich early adopter or some drug king who buys himself a home.

But now its an early adopter. And this early adopter wasted 6 years and dont even have a clue how to sell coins. Sounds plausible...

And this early adopter had this amount of money sitting around and he waited all this time until the price went from 1k to nearly 0.2k? Sounds plausible again...

And what if there is this withdrawal limit? It doesnt care. If you sell this amount that fast then you will get practically nothing. Especially the exchange you chose does not have the capability to make this happen fast. If they would then they would crash their orderbook to a point where you would get nothing.

At the end i believe you simply created this thread to promote your cointrader.net account. Your story wasnt created good enough.

jacktyme

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Quote from: Enjorlas on April 06, 2015, 11:42:21 AM

This thread is pissing me off. Why does anyone care if he is telling the truth?

Give him advice so we can all learn. Or don't. Anything else is noise.

It is actually laughable at how people just want to see how much coin another person has just to satisfy their curiosity. And there is no way I am posting an address because on the internet anything is hackable.

**

I have used cointrader.net a few times and I will be sticking to them. It clearly says on their site that the limit of withdrawal to a bank account is 2.5 million a week and 7 million a month. I already spoke to agents a few times and since they are in Canada I will be using them.

**

And to people that think 6 million in bitcoin is alot, well there are alot of individuals that have big amounts of coins sitting in wallets. I'm not going to disclose where we got to this amount for ourselves, but i'll just say, in 2009 when bitcoin was first released it was extremely easy and fast to accumulate 100k bitcoins.
I won't be responding anymore to this thread, and to all the people who want to get off on seeing how much bitcoins someone else has....get a life!

crazyivan

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Quote from: medUSA on April 03, 2015, 05:06:25 PM

Quote from: jacktyme on April 03, 2015, 11:06:59 AM

My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.

There is no fast way to cash out 25000 btc without getting into all sorts of tax and legal problems. I thought of an eas y way to get potential buyers to contact you. Move all the 25000 btc into one address. Sign the transaction with a message "Forsale" and your friend's email address (a secure one). Post the transaction here and people will contact your friend.

+1

Also, if you would try to cash them out in a short period of time, a day or two, you would decrease the price and effectively lose money. What you need to do is to spread sales over a few months.
However, I would never do it, not at this price. You friend can easily lose 200% of fiat value if he s too hasty.

Enjorlas

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This thread is pissing me off. Why does anyone care if he is telling the truth?

Give him advice so we can all learn. Or don't. Anything else is noise.

Enzyme

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OK, this may be a troll relating to: http://arstechnica.com/tech-policy/2011/06/bitcoin-the-decentralized-virtual-currencyrisky-currency-500000-bitcoin-heist-raises-questions/

If this is serious, your friend would probably already have contacts in the industry after owning more than $6m.

SebastianJu

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Quote from: jacktyme on April 03, 2015, 12:26:37 PM

Quote from: gkv9 on April 03, 2015, 11:57:17 AM

Localbitcoins might work, even you might have cash transactions available there...
If you don't mind, can you please share any of his address(es) out here???
We would love to see someone actually hodling such high amount of BTC in a single/different addresses...

My friend asked me to find out how to move that amount the fastest way possible. If it was me I would gladly share the address, but its not me. And I don't even think it is him that has it, maybe one of his investor friends. He is a very busy and popular real estate agent here in Montreal, Canada, so maybe it is possible that he does own that much bitcoin. I wish I had that much coin though lol. I do have almost a million Dogecoins, but hey Doge ain't worth much, I hope it jumps in value.

I'll try and see if I can share the address, btw if I share the address won't it be susceptible to hacking?

Hm... if you speak the truth then he must have sold quite the costly real estate.

If he sends you out to ask then i guess he doesnt have the time to do so himself. In that case... he should use one of the biggest exchanges. Check out bitcoincharts.com for a list with exchanges and their volume.

If he sells there then he should sell in small portions. Really... if he sells all by one then he will lose a lot of money because he will crash the price on the way down clearing the orderbook.

Maybe he should contact support directly and ask them about this. He dont want to have millions of usd sitting in an exchange but being unable to cash out because of some bank account restrictions the exchanges bank account has.

Edit: cointrader.net? With a daily total volume of 1K BTC? Your story doesnt sound believeable anymore.

jacktyme

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Its okay, I already figured out what to do. I'm going to use cointrader.net. They are Canadian based and I am in Canada. I already spoke to one of the agents there and they are advising us accordingly.

They allow 2.5 million dollars limit withdrawal a week and 7 million max a month limit.

abyrnes81

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Quote from: jacktyme on April 04, 2015, 04:51:06 PM

LMAO at people asking to prove it. WHAT THE F*** DO I GET OUT OF PROVING IT. And... WHAT THE F*** DO YOU GET OUT OF ME PROVING IT?? Simple satisfaction of YOUR curiosity?? Just so you can see how much coin someone else has??

And yes when bitcoins just started one could have easily acquired 25k+ coins in a matter of a week.

If you will prove that your friend or you own 25,000 bitcoins we can help and teach you how to convert them in the easiest way, but you should give us some proof.

jacktyme

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LMAO at people asking to prove it. WHAT THE F*** DO I GET OUT OF PROVING IT. And... WHAT THE F*** DO YOU GET OUT OF ME PROVING IT?? Simple satisfaction of YOUR curiosity?? Just so you can see how much coin someone else has??

And yes when bitcoins just started one could have easily acquired 25k+ coins in a matter of a week.

Enjorlas

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Quote from: yslyung on April 03, 2015, 07:19:30 PM

for someone to own that amount of btc, he/she should or would already know about exchanges, buying. selling, trading.... the owner would've done some home work & why a "friend" newbie in the forum is asking all the questions ?

if it's legal then why worry ?

why wouldn't he know ? the 25k btc fell from the sky ?

prove, show us proof .

He could have acquired that many back in the day when they were nothing and then forgot about them. Why are you so hostile? What is it to you?

A suggestion I have is to buy Gold with Bitcoins. Then sell the Gold face to face whenever you like. A number of websites sell gold for Bitcoin.

yslyung

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for someone to own that amount of btc, he/she should or would already know about exchanges, buying. selling, trading.... the owner would've done some home work & why a "friend" newbie in the forum is asking all the questions ?

if it's legal then why worry ?

why wouldn't he know ? the 25k btc fell from the sky ?

prove, show us proof .

Cult

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The amount of money that will go to taxes makes it better just not to sell all those coins, plus there are a lot of services one can use to spend bitcoin easily, no need to sell all of them.

marioantonini

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Can open more neteller account, request a personal mastercard neteller and transfer all money in his neteller personal account, but 25.000 btc request more time

medUSA

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Quote from: jacktyme on April 03, 2015, 11:06:59 AM

My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.

There is no fast way to cash out 25000 btc without getting into all sorts of tax and legal problems. I thought of an eas y way to get potential buyers to contact you. Move all the 25000 btc into one address. Sign the transaction with a message "Forsale" and your friend's email address (a secure one). Post the transaction here and people will contact your friend.

pedrog

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Quote from: abyrnes81 on April 03, 2015, 12:46:41 PM

My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?

What?!

It's more than 6 million dollars...

Pretty sure this will bring all kinds of problems with the law.

abyrnes81

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Quote from: jacktyme on April 03, 2015, 01:38:01 PM

Quote from: abyrnes81 on April 03, 2015, 12:46:41 PM

My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?

I briefly read about the BurtW story. But why did he get arrested? Is it illegal to cash out huge amounts of crypto?

This is the accusation against him :

Quote

14-cr-00398 USA v Burton Wagner
18 USC 1960
Count 1: Operation of Unlicensed Money Transmitting Business

and yes, it seems that in certain nation it is not legal to sell cryptocoin without owning a license (but not in all the World).

jacktyme

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Quote from: abyrnes81 on April 03, 2015, 12:46:41 PM

My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?

I briefly read about the BurtW story. But why did he get arrested? Is it illegal to cash out huge amounts of crypto?

Topic: Fastest Way To Cashout Alot of Bitcoins (Read 2241 times)