Topic: WTB up 50K worth BTC - page 2. (Read 3036 times)

it's some BS anti money laundering law bush established in 2001. it's called the patriot act. it applies to bank cash deposit cash in hand car or plane. anything over 10K is a bad idea if you can't prove the source of funds.

Did they have gold teefs and crack rocks in those Youtube vids?

Edit: Not trying to be mean or anything.

get caught with 10K cash in your hand or car and they will take that shit if you can't prove where you got it at that very moment. if you can't prove the source of the funds in court you won't get it back.

i stand by my statement. like i said i don't know him and he may be legit, but i wouldn't bet on it.

I think you might be thinking of International flights.  If you are flying outside the country with more than $10,000 you have to declare it (which isn't a big deal.) Also if you make a deposit into your bank account your bank has to fill out some bullshit (which I've never got bothered about... I'm not a greasy hippy generally.)

For flights within the country you can fly with as much cash as you can stuff in your bag.  I wouldn't put it under the plane




Pretty bold statement.

Remember cash is king and big transactions are part of life.  It is just a matter if you want to take responsibility for it or not. 

Believe it or not you don't need someone to hold your hand in a 50k transaction

my comment wasn't directed at you specifically, just trying to educate people considering traveling with more than 10K cash.

the only good reason i can think of why somebody would rather come with 50K cash is robbery drug dealer tax evasion or some other shady reason why they can't prove the source of the funds. most legitimate people in possession of 50K would want to do bank transfer cause it's safer and they have no problems with paper trail. but hey, i don't know this guy or his reasons so if anybody want's to roll the dice go for it.

Yes. There is.


And since I only have 10 BTC to sell, what does your reply have to do with my statement?

this 10K seizure law only applies to cash. BTC cashier check and bank transfer can't be seized this way.

there is no good reason to do cash instead of bank transfer.

Oh you're right.  Guess he is law enforcement then.  I like the name he chose.

Emphasis added by me.

The OP seems like he's just gonna steal your bitcoins and walk away. I advise anyone taking up his offer, to do the trade in a very Police-Populated Area. Like a bank or Police Headquarters.

Maybe renting your own team of bodyguards with automatic rifles for each of them would be good as well.

Don't trust newbie members, thats all

It could also be that he is not interested in transactions of less than 30 btc, as stated in his post.  Mentioning bank wires is probably a non-starter as well

Yes, bornforfreedom has reason to be concerned about the size of his transaction.

I don't have more than 10 BTC available to sell to him, so my transaction would be less than the $10,000 you are warning about.

It doesn't look like bornforfreedom was serious anyhow.  Clearly if he was actually active on localbitcoins and was actually looking to buy bitcoins in Chicago, he would already have found plenty of sellers in the area.  Perhaps he was attempting to manipulate the market, foolishly thinking that demonstrating interest in a $50,000 transaction would be enough to significantly move the market?

You are welcome to your opinion.

I am well educated in the matter, and am not concerned.  Thank you for looking out for me, but I'll be ok.

anything over 10K cash can and will be seized. the burden of proof to prove the source of the funds is on you. if you can't prove the source of the funds bye bye money and hello criminal charges. cops seize cars and all it's contents for this shit cause of corrupt anti money laundering laws. bank transfer is the way to do this.

Danny, you seem very naive about how the laws actually work.  Just because you think you haven't violated any laws doesn't mean they won't arrest you.  Just because you asked for clarification does not mean they will not arrest you.  They can claim it is a felony to sell bitcoins without having the proper license.  Maybe you will win the ensuing case or maybe you would wind up with a felony on your record.  Either way you would come out a loser financially.  We live in a police state.  The prosecutors and police decide who gets arrested.  It's up to their whim whether your bitcoin sales are considered legal or not (you could still win out in court).

Again, they can arrest you simply for selling bitcoin.  It does not matter if you pay your taxes.  It does not matter if you try to do everything above board.  It does not matter if you have done nothing ethically wrong.  All that matters is if they decide to try and get a conviction on someone for selling bitcoin without the proper licensing.  They can charge you as an "illegal money transmitter".


As for the rest of the story...  I can't get into it too much seeing as I live in a police state.  But the guy was using his real name, and some intense googling and investigation led to finding a post by the guy's brother on an internet forum saying that the guy now worked for the secret service.  My friend called the guy and apologized for having to back out of the deal and said he had read online "you work with the Secret Service".  The guy just hustled my friend off the phone without denying anything, basically just saying "ok, that's understandable.  take care" (paraphrasing).  So who know what was going on.  

The guy was definitely using his real name and phone number.  This would be really strange if they were doing an investigation.  It's possible they were just being cheap as hell, not wanting to do proper paperwork and request funds to set up a fake identitiy?  I have no idea.  There is definitely an internet post from his brother from a few years back saying that he worked for the Secret Service.  Also, in his first bitcoin post he claimed to work in a certain industry, and when given a pop quiz he had no idea what he was talking about and backtracked on some of the claims he had made in his post regarding what he supposedly did for a living.

I haven't violated any laws, so I don't expect the dinner to be in a jail cell.  I was thinking perhaps David Burke's Primehouse.


I don't call that often. I'm not trying to annoy them, I'm trying to get some information.  I generally call twice a week.

I've managed to talk to Rep. Anthony, and I spoke with several people at the Department of Financial and Professional Regulation.  Unfortunately, none of them seem to be able to find the information I'm looking for.

From what I can tell, the answer will need to come from the Attorney General's office.  Unfortunately, I've been informed that as a citizen, I apparently can't request a legal opinion from the Attorney General's office.  A request like that can be made by a County States Attorney's office, which is why I've now been trying to get in contact with someone there that can help me.  A request like that can also apparently come from the office of the Illinois House Republican Leader Jim Durkin. I've been talking to Benjamin Ruddell, an attorney on staff for Leader Durkin's office, since the end of May.  He said that Leader Durkin's office would submit the request, but after 6 weeks of procrastination, I'm starting to think that he's just stringing me along and hoping I'll give up eventually.

Rep. Anthony is planning on having a couple of "Town Hall" meetings in the next few weeks.  I'll probably attend and see if I can get some additional information from him.

I like how you emphasize on them paying for dinner, I could only imagine seeing that from a Jail Cell... (If you were lucky), Secret Service paying for dinner seems very unlikely but it would be nice for once, but what am I even saying I am not a US Citizen but I am visiting....

You can only keep trying to call them, I could only again imagine what it would be like calling them... Call the same numbers two to three times every 5 minutes, that would surely irritate them and make them answer your call... Or then, they may just cut the line and diminish your hopes and dreams.

Prayers are with you in the hopes they start answering your calls.

If the Secret Service wants to know about my bitcoin activities, they are welcome to give me a call.  I'll happily sit down and discuss it with them over dinner (I assume they are paying?).

While they're at it, I'd be absolutely thrilled if Illinois State Attorney General Lisa Madigan would give me a call.  I've tried calling her office, as well as the office of Grundy County State's Attorney Jason Helland, the Illinois Department of Financial and Professional Regulation, and the office of Illinois State 75th District Representative John Anthony.  I've been trying since February to get some information about operating a business involving Bitcoin in the State of Illinois, and I haven't been able to get any useful answers yet.

How much was he selling... for the Secret Service to get involved?