What to do with ill-gotten Bitcoin? - page 2.

Laosai

sr. member

Activity: 462

Merit: 250

Quote from: talkbitcoin on February 07, 2016, 04:27:32 AM

Quote from: avw1982 on February 07, 2016, 03:51:43 AM

Quote from: Amph on February 07, 2016, 02:33:10 AM

you don't, use them to buy stuff on purse.io, stop dumping bitcoin for fiat crap, the point of bitcoin was to be used as a currency not as a speculation tool only

Buying with bitcoin will not work at this moment already price is goes down So it not a right time I guess. Holding is a best way in bitcoin to get profit after halving.

the price is the same as it was for some time now. which is around $375+$10 it has not gone down.
it is off topic but i agree on holding btc for after halving

So is everyone. So you know what gonna happen after halving? MAssive dump which will mean a price decrease...

talkbitcoin

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All I know is that I know nothing.

Quote from: avw1982 on February 07, 2016, 03:51:43 AM

Quote from: Amph on February 07, 2016, 02:33:10 AM

you don't, use them to buy stuff on purse.io, stop dumping bitcoin for fiat crap, the point of bitcoin was to be used as a currency not as a speculation tool only

Buying with bitcoin will not work at this moment already price is goes down So it not a right time I guess. Holding is a best way in bitcoin to get profit after halving.

the price is the same as it was for some time now. which is around $375+$10 it has not gone down.
it is off topic but i agree on holding btc for after halving

avw1982

hero member

Activity: 644

Merit: 500

Quote from: Amph on February 07, 2016, 02:33:10 AM

you don't, use them to buy stuff on purse.io, stop dumping bitcoin for fiat crap, the point of bitcoin was to be used as a currency not as a speculation tool only

Buying with bitcoin will not work at this moment already price is goes down So it not a right time I guess. Holding is a best way in bitcoin to get profit after halving.

Amph

legendary

Activity: 3248

Merit: 1070

you don't, use them to buy stuff on purse.io, stop dumping bitcoin for fiat crap, the point of bitcoin was to be used as a currency not as a speculation tool only

mkc

hero member

Activity: 517

Merit: 501

First you put coins through mixer, that way nobody knows its source for sure.
Then you can use Coinable to sell them, and deposit into your bank account.
Not the best way to spend bitcoin, but will work.

Monnt

legendary

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You could use multiple bitcoin mixers, like shuffle-shuffle.io and bitmixer.io, put in random time delays and user random fees to avoid amount-based searches.

You could then convert into something else.

Laosai

sr. member

Activity: 462

Merit: 250

Quote from: ignitiondefect on February 06, 2016, 03:44:14 PM

This is a question I've long been curious about. Its entirely academic for me because I have no BTC at all, let alone ill-gotten BTC. But how would you convert huge amounts of your illicit BTC into cash, gold, and other fungible items without implicating yourself?

In fact it's rather easy.

You can convert it as cash through localbitcoin. You can also convert it into gold or other things like that by going throw a deal with someone. You explain that you don't want to do it, then you let the 10btc to escrow and ask someone to pay 9.5 btc of gold.

Btc was nearly made for those kind of thing, you can do whatever you want with your coins ^^

whywefight

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www.explorerz.top

Quote from: ignitiondefect on February 06, 2016, 03:44:14 PM

This is a question I've long been curious about. Its entirely academic for me because I have no BTC at all, let alone ill-gotten BTC. But how would you convert huge amounts of your illicit BTC into cash, gold, and other fungible items without implicating yourself?

are you the lucky7coin dev, now looking for help?? Cheesy

The Sceptical Chymist

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Top Crypto Casino

Quote from: richardsNY on February 06, 2016, 03:57:13 PM

Nearly impossible, but you can have some one you closely trust convert your coins into cash or whatever you want. You can also convert them into a solid altcoin and slowly sell everything in other exchanges for BTC and then mix them, and no one will know your coins are marked.

It's not nearly impossible at all. Local meetup is one way, for straight-up cash. The buyer doesn't have to know the provenance of the coins beforehand nor your identity. Mixing the coins is another way as mentioned. And you could probably buy gold/silver online without having to provide your real identity since you're not using a CC. But you'd be giving the seller your address. Even then, you could get around that--if you were motivated enough to do so, there are plenty of ways.

European Central Bank

legendary

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Coins like that are out there. If you have half a brain then you drip feed the sales over a long period of time. The idiot who stole a pile of coins from Sheep marketplace went right out and started buying houses through his girlfriend. He didn't last too long before the authorities came knocking.

richardsNY

legendary

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Nearly impossible, but you can have some one you closely trust convert your coins into cash or whatever you want. You can also convert them into a solid altcoin and slowly sell everything in other exchanges for BTC and then mix them, and no one will know your coins are marked.

ignitiondefect

full member

Activity: 145

Merit: 100

This is a question I've long been curious about. Its entirely academic for me because I have no BTC at all, let alone ill-gotten BTC. But how would you convert huge amounts of your illicit BTC into cash, gold, and other fungible items without implicating yourself?

Topic: What to do with ill-gotten Bitcoin? - page 2. (Read 2420 times)