Bitcoin Forum

No

Buy bitbay or blocknet so bob can have that money  :)

How did you won that much money? It will obviously a problem to transfer that kinda money to your bank.

Sell the bitcoin to someone on the forum you might get less than 250k but it would still be a good idea rather than giving it to a exchange.

If you want to by property at the moment you either use bitpay or find someone selling for bitcoin.otherwise you have to give it either to a exchange when giving it to a exchange some banks will close down your account because they are not friendly with bitcoin and  they can do that for any reason as its written into the contract that you sign/agree on when you register with that bank.

It is illegal to own/use bitcoin in some countries I believe russia is one that has banned its use.

The gambling site you won off is it registered as a gambling business? otherwise this could affect you in transfering the money as I'm certain if you are going to transfer this bitcoin into either property or too your bank questions will be asked and a investigation to find out if you are telling the truth will go ahead. if the gambling site is not registed and is operating illegally you might have some trouble. I'm not 100% sure though.

Gambling is tax free but, transfering that money to fiat isn't. thats the difference.  :)

If it were me I'd just suck up the tax for the sake of a quiet life. Having a pile of cash and blowing it around the world is one thing, but a property is rather hard to hide from the tax man. Depends how lax authorities are wherever you reside.

If I wanted to cash out an amount that large I'd forget about going directly on exchanges. Talk to a broker like SecondMarket to arrange a straightforward sale at an agreed price or some of the exchanges may have customers looking to buy a decent amount without the risk of slippage.

First of all, congratulations on winning the money.

Do NOT gamble with any of the money you've won. Think about it; $250,000 is worth years and years and years of hard work, and you can change your life with it. Don't waste it, please. Move it into another wallet if you have to.

Also, do NOT make or take out any loans. Do NOT buy that apartment. Hold on to the money for the next few months and don't make any major decisions until you have everything figured out. Taking out a loan worth nearly twice the amount of money you have is a bad idea.

You want to turn your life upside down? Do this.

The first thing I'd do in your situation is look into selling the coins as soon as possible. If the bitcoin price drops to $300, you've already lost 25 thousand dollars. If you're confident in bitcoin, keep 5% or so only.

Get an tax accountant/lawyer/professional to help you figure out taxes. They will also be able to figure out the best way to sell the coins. This will cost you a few hundred dollars probably. It's worth it. You'll lose much more just by holding bitcoin. And you'll save your ass in the long run.

Pay off all your debts, and put ALL the money away into savings.

Find a CHEAP apartment to live in for now.

Take the job your friend offered you. $120,000 a year is a lot. You won't earn a stable income through gambling (you probably already know this). And you can't live off $250k for the rest of your life.

Once everything has settled down a few months later, look into in safe investments: bonds, CDs, funds etc, maybe even a small amount of bitcoin.

To summarize: sell coins -> pay off debts -> rent apartment -> and DO NOT spend any large sums of money, no matter how tempting it is. You have enough money to change your life significantly; don't squander it.

Bet it all on one game.

I nominate this for worst advice of 2014

All or nothing, why not?
Without risk, there is no profit.   ::)

Go put a quarter million on one game right now then.

Give me a quarter million first and I'll do so.

You're telling op to do it with HIS money, not someone else's. Is it that hard seeing the difference?

Notice the  ::)  
OP is in a difficult position.

Sounds like you've got it all figured out. Paying off debt first is a good idea. Any other lawyers in your area who can help? And good luck! :)

I still don't get the joke lol ::)

I guess I just have a really bad sense of humor.

How did OP "won 250K"? thats what we should be asking  :P

Paying off the debt is of course a good idea.

Whatever you do, don't sell ALL the BTC. I would put at least 100 BTC in cold storage and forget about it. You don't want to be kicking yourself a couple years down the line when another bubble happens.

Since you said you have a job paying 10k a months, getting loan should be pretty easy for 400k apartment. Next you should really pay back all the bills, student loan etc especially if those charges high interest rate.

Then you can keep the remaining in bitcoin or whatever you like. Just make sure don't go to some gambling site :)

Stick it into a set of paper wallets and chill out, my man
Check again in 2020

I wouldn't get that $400k apartment right now

you can spend the money on a bisiness. and transfer funds.

I'm just interested how you won it.

I'd immediately invest it in passive income so I wouldn't have a problem with money for a long while :P dividends and such.

My opinion exactly, You could get the money sent to your bank and might be under some taxes /gambling issues  (if you are in the united states as you most likely are) or even problems with the exchanger with such a big amount.

Would be pretty crazy to bet that much on a single match, but even if someone is willing to do THAT no bitcoin bookie would accept that bet anyway though (unless you are betting on something like 1.001)...

in which site did you play?

i am not sure that any btc betting site can 250k usd without any problem...

buy gold and silver. while you still can.

Once we start getting gold from space (asteroids or such) it will be worth 0.1$ since the supply out there is probably limitless.

you came here to get guidance. if being in this forum havent taught you what is money then good luck with that sort of attitude.