Topic: If you had suddenly 500 BTC - page 9. (Read 6398 times)
maybe same with the others, exchange to fiat little by little, or hopefully there is some online shop that allow bitcoin as payment maybe i can buy a lot of thing in that shop
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 ?
500 bitcoins is worth around $325K. I would find buyers who can wire you the money straight to your bank account. Unless you live in a banana republic, nobody is really going to ask questions about $325K worth of incoming wires into your account. If there are any questions that are asked, it is usually the sending bank that asks the sender of the wire (the buyer), not you.
On the other hand making cash deposits worth $325K could get your bank account randomly seized by the IRS in the US.
If I would suddenly have 500 Bitcoins then I would sell halve if them right now because that will earn me allot of money. I would just hold on to the other and look if I can make more money with them.
The price in the future has to be higher so I am sure that I would make more money with them if I saved them.
I think that I would do the same thing because you know how much money you can make with that many Bitcoins, even if you sold them all right now then you would make much money. The price in the future has to be higher so I am sure that I would make more money with them if I saved them.
But selling them all at once is not that good of an idea because the price can always rise so that you can make much money.
you can buy whatever you want online with BTC , or converting to fiat is difficult , you can slowly day by day like 5 BTC each day convert to fiat 
yes, you can buy whatever you want. but, if I suddenly have 500 BTC, maybe I'll hold it until bitcoin prices of more than $ 1,000. I think it is the best way that I have a lot of money. after it bought an apartment or house, and start a new life as a millionaire and a businessman. Well, it sounds very interesting 
It depends on certain banks as they all differ in terms of rules. Some wouldn't mind at all regardless of the amount and some are very strict specially if the activity on someones bank account changes all of a sudden and what they do usually is to contact you and ask for proof so they could be sure it wasn't claimed on a illegal matter.
If we want to transfer it our bank account then there is no need in transferring that huge amount at once, transfer it on installments and everything would be fine, as your bitcoins are safe in your digital wallet too, and its not mandatory to sell them at a single point of time.
If I needed to exchange 500 Bitcoins into cash I would stay away from the Bitcoin exchanges and look for private buyers instead. It would be easier to deposit $250 000 in cash later on and say that you have won that amount gambling online than trying to explain the origin of the money deposited to your bank account after using an exchange because this could raise some red flags very quickly and people may think you are laundering money or something.
It depends on certain banks as they all differ in terms of rules. Some wouldn't mind at all regardless of the amount and some are very strict specially if the activity on someones bank account changes all of a sudden and what they do usually is to contact you and ask for proof so they could be sure it wasn't claimed on a illegal matter.
If I would suddenly have 500 Bitcoins then I would sell halve if them right now because that will earn me allot of money. I would just hold on to the other and look if I can make more money with them.
The price in the future has to be higher so I am sure that I would make more money with them if I saved them.
The price in the future has to be higher so I am sure that I would make more money with them if I saved them.
you can buy whatever you want online with BTC , or converting to fiat is difficult , you can slowly day by day like 5 BTC each day convert to fiat
Yeah converting to fiat slowly would be a good idea but talking about my self The day I have 500 BTC would be the happiest day of my life, and the day is very hard to come but still I'm working on it to get as much as I can. The first and foremost thing that I would do is invest all my money to stock because the money would grow and come back to multiplied. 
you can buy whatever you want online with BTC , or converting to fiat is difficult , you can slowly day by day like 5 BTC each day convert to fiat
If suddenly 500 btc appear in my wallet for sure it would be the day ehen I become rich guy. I would sell some, but rest will stay in btc and it would be split on many parts and invested on many places. I think with that amounts invested I can expect good profit from many sides.
This is impossible to happen, I will have to earn that money myself. And I don't hope it will fall from the sky, that is happening just in the movies and fairytales.
I don't think its hard to cash out with 500 btc, it will require some time, but it can be done.
This is impossible to happen, I will have to earn that money myself. And I don't hope it will fall from the sky, that is happening just in the movies and fairytales.
I don't think its hard to cash out with 500 btc, it will require some time, but it can be done.
Is that a joke? There is no way to buy what one needs or wants with BTC without jumping through a bunch of expensive, unnecessary hoops. Nothing. It is almost impossible to spend BTC as easy as fiat. Face it, that is the truth.
Why would you want to convert those BTCs to fiat?
Just buy what you want with Bitcoin.
How would you transfer the btc to your bank account without making the banks / OCED ask questions?
y Why would you want to convert those BTCs to fiat?
Just buy what you want with Bitcoin.
Slowly, around 2 BTC/month.
If you want spend more, do it in BTC alone, without intermediaries.
If you want spend more, do it in BTC alone, without intermediaries.
I will not worry or even bother to cashout all of those bitcoin within one day. I will just keep holding them in different addressess after mixing them in fraction and keep proper backup of those addressess's private keys in safe place. I will sell them in portion of 5btc in one transaction and that is only from cash/face to face deals. I know interest in bitcoin is getting higher in everycountry so selling 5btc to one guy couldn't me hard in future.
But i don't think i could earn 500 btc in my whole life.
But i don't think i could earn 500 btc in my whole life.
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 ?
many people get interest in bitcoin you dont need bank account to cash out your money you just need more people who want it to change your bitcoin to fiat . 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 ?
Don't worry about it guys. I just got two words for you: PARTY HARD!
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 ?
This is the definition of laundering money, ROFL. What criminals learned long ago is that it's easier to just spend the got money, instead of trying to legitamize it. Pay your bills and life expenses with the bitcoin, converted to cash via peer to peer exchange, and save your wages. No one can get mad at you for saving your paychecks.
If you found this useful, since you may have copious amounts of money, send me some. I am not kidding. I have more cogent advice where that came from.
I really doubt it if there is a way to transfer 500 btc without getting "suspiciousness" from the people "around " you.
But even if they do ask about all of that.
Will they really say anything to you?
i mean its BTC.. you didn't steal or anything..
But even if they do ask about all of that.
Will they really say anything to you?
i mean its BTC.. you didn't steal or anything..
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 ?
I would do like this:invest 50 btc in hyips,100 btc in some safe sites and 100 btc gambling and i would withdraw the rest (250 btc 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 ?
) probably i would lose all these 250 btc invested but well... no pain no gain i guess
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 ?
I would do like this:invest 50 btc in hyips,100 btc in some safe sites and 100 btc gambling and i would withdraw the rest (250 btc 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 ?
) probably i would lose all these 250 btc invested but well... no pain no gain i guess
Jump to: