Maximum Deposit into a US Bank

[swarog]

Hey Everyone,

I have a few questions.  Let's say BTC hits 1000 USD.  That would be the time I would cash out.  Are there bank rules/limits on deposit amounts in the US?. And for everyone, would you sell in one lump sum or in portions?  Thanks

R

[rayfloyd]

If a single bitcoin hits 1000$, I would believe the USD and other currencies would be in a pretty bad shape, hence I'd rather keep what has more worth, the bitcoin.

Food for thought my friend.

[beetcoin]

but the thing is, if BTC hits 1,000.. it seems like the psychological point of "sell sell sell" for many people, which would lead at least to a mini crash.

i mean, we even have a thread here dedicated to the "let's throw a world party when bitcoins hit $1,000." i think that $1,000 mark will be a very big milestone.

[Patel]

Hey Everyone,

I have a few questions.  Let's say BTC hits 1000 USD.  That would be the time I would cash out.  Are there bank rules/limits on deposit amounts in the US?. And for everyone, would you sell in one lump sum or in portions?  Thanks

R

I would figure if you deposit like a million dollars, they are going to ask questions. But if you keep depositing little amounts based on how much you need at the time you should be ok

[swarog]

Alright but lets say you have a small window of time. Like 24 hours?

[Dabs]

The bank will AML and KYC all over you. They will tag you as potential money launderer. The tax people will watch your account. You might temporarily or permanently lose access to your own bank account.

No proof. No anecdotes. Just possibilities.

If you keep it in bitcoin, nothing happens.

[superduh]

If a single bitcoin hits 1000$, I would believe the USD and other currencies would be in a pretty bad shape, hence I'd rather keep what has more worth, the bitcoin.

Food for thought my friend.

are you sure you forgot a few 0s?! $1000 /btc is only few months away. it's only 3x away from $1000.

[Ozymandias]

but the thing is, if BTC hits 1,000.. it seems like the psychological point of "sell sell sell" for many people, which would lead at least to a mini crash.

i mean, we even have a thread here dedicated to the "let's throw a world party when bitcoins hit $1,000." i think that $1,000 mark will be a very big milestone.

Do you consider $1,000 to be a more or less significant milestone than $1, $10, $100, $10000?

[swarog]

It would be interesting to hear some peoples strategies for taking some chips (BTC) off the table for profit sake: Similar to a bullish stock before it goes bear. When your drop dead price hits, how will you proceed and avoid the scrutiny of our financial system? Not looking for specifics, just curious as how we get around the mass quantities of currency here.

[swarog]

Ozy,

The price is irrelevant especially if you're looking to cash out and hold a lot of coin.  Which is why i'm interested to here an exit strategy from someone that...let say...want's to retire.

[phillipsjk]

Alright but lets say you have a small window of time. Like 24 hours?

Why the rush?

If you want to move that much money, ask if your counter-party is willing to accept Bitcoin.

Edit: for retirement, just give yourself an allowance. No need to completely cash out.

[saddambitcoin]

i'd be wary of dumping huge amounts in a bank but what are ya gonna do...i think under 10k is reasonable