Topic: If you had suddenly 500 BTC - page 10. (Read 6396 times)
If i had that very huge amount of bitcoin i will just sell the 20 bitcoin after halving whether it's high or not because i just want some good amount of money to start building my own business so i can continue making money. The 480 bitcoin left i will hold it for a long term investment and just put it on a safe cold storage and after 4-8 years i will sell all the 100 bitcoin and continue holding the rest because i believe that it's great decision if i don't cash out or sell all the coins in the same year because every year the price is going up.
If I had suddenly 500 Bitcoin then I would wait until the price is $1000 and then I would sell them all at once because then I would have allot of money.
I would not even try to hold them for much longer because it is not even sure if that is going to pay off.
I would not even try to hold them for much longer because it is not even sure if that is going to pay off.
How would you transfer the btc to your bank account without making the Banks / OECD / ask questions?
And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
If I have a 500 bitcoins suddenly I will invest it all to genesis mining. That way no one will question where does my bitcoin comes from. I will retire form my work and put up a business as a facade so nobody will question me. But it is all a dream since no one in their right mind will give me that amount of bitcoin especially with the current price at the market right now.
At the current price, that would already make the owner a rich guy. Much more if he is from a third world country. That would be enough for me to quit my job and just focus on putting up my own business, and buy a lot of other assets like land, stocks, and insurance.
500 BTC is a huge amount, and it's making anyone rich with actual Bitcoin's price, in my opinion. If i have this amount i will invest a small part in trading trusted platforms, and enjoying the remaining to buy my needed goods and services
caching them would be easier as parts. not the hole amount in one time because one may get scammed. if someone asked about how you bought this or that tell him about bitcoin. but if you are in a third world country, you better travel before they arrest you 
If i have 500btc suddenly i will buy house and fancy car, and in order to make less suspicion, i would exchange my coin little by little and then maybe i will borrow my friends and my family account to exchange the coin after that i will open 1 account abroad and put my coin in that account
How would you transfer the btc to your bank account without making the banks / OCED ask questions?
Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.
This is not smart at all. too many people work with you, easy to track you down.
Well I don't know what is the source of these bitcoins but if it is legal then i wouldn't worry to much. Maybe up to 3k per person should not make your bank ask what you are doing or anything else. You can sell them for cash locally in your city or country and not being noticed. Also you can buy hardware things and then resell them.
of course it is. isnt it weired that to many people transfer you money and your not business ? what you give them in turn ?
in case of investigation the first thing to do is to investigate those people.
Nothing is free, and when you are dealing with lots of people then you should award them at least for their job what are they doing for you. Cashing out 500BTC is a not a small deal, I think you simply you cant without being noticed, you can try by going on bitcoin ATMs in different countries but still you have to pay for some fees that these ATMs have, you can't probably get exactly 500BTC but less because of the fees/award etc.
How would you transfer the btc to your bank account without making the Banks / OECD / ask questions?
And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
I'm not sure that i would exchange all my bitcoins if i had 500 of them,there is not reason to do since i can already buy a lot of things using btc.i would exchange only a small amount of them in cash using in person method and i would avoid buying things like cars,houses etc.
If you didn't want to be asked about how do you have this amount, you will need to avoid banks, the only solution would be spend the bitcoins or save them, but not converting to fiat money.
you will lost point of having bitcoin because if you don't or can't exchange it to fiat,it mean you have nothing,people having bitcoin because it have value to fiat If you didn't want to be asked about how do you have this amount, you will need to avoid banks, the only solution would be spend the bitcoins or save them, but not converting to fiat money.
You can also convert it to fiat money, avoid bank transfers, find a trader who can pay you in hard cash, as no one will be aware if you are transacting in cash.
If you didn't want to be asked about how do you have this amount, you will need to avoid banks, the only solution would be spend the bitcoins or save them, but not converting to fiat money.
selling them all one by one because mass selling will only make prices falling and will make the money which will get by exchanging getting lost
In my personal case I would not be interested in exchange my bitcoins for fiat through a bank account my friend. But in case of some emergency I only would withdraw a maximum of 100 BTC. I would do it through my forex broker, which allow me to deposit bitcoins and withdraw dollars via bank transfer.
How would you transfer the btc to your bank account without making the Banks / OECD / ask questions?
And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
you can answer him that you are wining this amount from gambling And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?
How about,
convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income
convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income
These are both ok, but I am sure I would choose to have at least half of it in fiat. To protect myself from bitcoin's volatilty. The rest would go in
- Investing in altcoins
- Investing in a new venture.
How would you transfer the btc to your bank account without making the banks / OCED ask questions?
Why would you want to convert those BTCs to fiat?
Just buy what you want with Bitcoin.
Yep, great answer, why convert when you can simply spend it right away without hassles?
How about,
convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income
convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income
If I had suddenly acquired 500 BTC somehow, I would just hodl it while the price increases. Then if I were ever ready to convert any of it to fiat, I would just do so and pay whatever taxes I needed to and be able to sleep comfortably at night not having to worry if the FBI/Homeland Security or whoever will be breaking down my door in the middle of the night and pulling me out of bed with an assault rifle aimed in my face.
if i had 500btc, i would cash out slowly, aiming to not drive the price down. maybe 1 btc per day for like a year and then hodl the remaining 135 btc to give to my kids or something.
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