jacktyme (OP)
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April 03, 2015, 04:06:59 PM |
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My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.
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redsn0w
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April 03, 2015, 04:07:57 PM |
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My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.
Can you provide at least one or two addresses for prove that you are not a liar? 25'000 bitcoin ... are you serious ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) ?
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s1lverbox
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April 03, 2015, 04:09:31 PM |
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My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.
Your friend? Have 25k of coins? Prove or stop trolling
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jacktyme (OP)
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April 03, 2015, 04:25:49 PM |
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Why do I have to prove it? What's the point of that. Its a simple question. How would one go about cashing out alot of bitcoins? I don't see the need to prove it to people I don't know.
What would you all get out of seeing the amount of bitcoins someone has? What does that do for you.
Okay let me rephrase, hypothetically speaking if one were to acquire 25000 worth of bitcoins how would they go about converting it to USD?
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Amph
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April 03, 2015, 04:27:26 PM |
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if you really have that amount, you can try with circle, but it may be too big for them
on bitstamp you can dump big amount like nothing, because they have high volume, but they aren't fast at all you need verificatiom
otherwise try localbitcoin
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freemind1
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April 03, 2015, 04:28:12 PM |
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Hello jacktyme, tell your friend that he can buy four pizzas and a half. In the following link you have the necessary information to do so. https://bitcointalk.org/index.php?topic=137.0Now seriously, i think localbitcoin may be the best choice.
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jacktyme (OP)
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April 03, 2015, 04:32:12 PM |
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if you really have that amount, you can try with circle, but it may be too big for them
on bitstamp you can dump big amount like nothing, because they have high volume, but they aren't fast at all you need verificatiom
otherwise try localbitcoin
Its not me that has this amount, I wish I did. I'm not even sure if he really does have that amount, but he would like to know how would one go about turning 25k+ into USD. Would Cryptsy support that amount. Or can he convert small amounts at a time. Bitstamp would need identity verification? And does Bitstamp send the USD to a bank account via wire transfer?
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pedrog
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April 03, 2015, 04:36:25 PM Last edit: April 03, 2015, 04:47:14 PM by pedrog |
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if you really have that amount, you can try with circle, but it may be too big for them
on bitstamp you can dump big amount like nothing, because they have high volume, but they aren't fast at all you need verificatiom
otherwise try localbitcoin
Its not me that has this amount, I wish I did. I'm not even sure if he really does have that amount, but he would like to know how would one go about turning 25k+ into USD. Would Cryptsy support that amount. Or can he convert small amounts at a time. Bitstamp would need identity verification? And does Bitstamp send the USD to a bank account via wire transfer? Yes, it does, but that amount of coins he should use three or four exchanges. It's a significant amount of money it will require additional verifications, usually there are limits, he should contact the exchanges and his bank to learn the best way to proceed.
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jacktyme (OP)
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April 03, 2015, 04:38:45 PM |
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Ok thanks for your replies, I'll check out more exchanges, and localbitcoin.
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freemind1
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April 03, 2015, 04:41:51 PM |
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I have not used Bitstamp but with yacuna.com no problems, you need identity verification . You can also do it in ATMs , but the daily and monthly amount is very small, about 600 USD a day (in my country). In xapo.com also need identity verification. In Payza.com also need to verify your identity and you can only withdraw 20,000 USD per transaction.
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Amph
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April 03, 2015, 04:48:02 PM |
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if you really have that amount, you can try with circle, but it may be too big for them
on bitstamp you can dump big amount like nothing, because they have high volume, but they aren't fast at all you need verificatiom
otherwise try localbitcoin
Its not me that has this amount, I wish I did. I'm not even sure if he really does have that amount, but he would like to know how would one go about turning 25k+ into USD. Would Cryptsy support that amount. Or can he convert small amounts at a time. Bitstamp would need identity verification? And does Bitstamp send the USD to a bank account via wire transfer? you can try to move below 1k at time, under different exchange everytime, there are some exchange that don't require verification(kraken, coinimal ecc... maybe bitfinex i don't remember right now) but they have a 10k monthly limit but it will take ages in this way
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gkv9
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April 03, 2015, 04:57:17 PM |
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Localbitcoins might work, even you might have cash transactions available there... If you don't mind, can you please share any of his address(es) out here??? We would love to see someone actually hodling such high amount of BTC in a single/different addresses...
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jacktyme (OP)
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April 03, 2015, 05:26:37 PM |
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Localbitcoins might work, even you might have cash transactions available there... If you don't mind, can you please share any of his address(es) out here??? We would love to see someone actually hodling such high amount of BTC in a single/different addresses...
My friend asked me to find out how to move that amount the fastest way possible. If it was me I would gladly share the address, but its not me. And I don't even think it is him that has it, maybe one of his investor friends. He is a very busy and popular real estate agent here in Montreal, Canada, so maybe it is possible that he does own that much bitcoin. I wish I had that much coin though lol. I do have almost a million Dogecoins, but hey Doge ain't worth much, I hope it jumps in value. I'll try and see if I can share the address, btw if I share the address won't it be susceptible to hacking?
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Reynaldo
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April 03, 2015, 05:35:31 PM |
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No, if we know the address it wont be susceptible to hacking. You could deposit 1,000$ usd weekly with circle.com (at least i can) You could try trucoin, bitstamp and even Bit-X, and neteller with their new deposit bitcoin option.
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abyrnes81
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April 03, 2015, 05:46:41 PM |
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My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?
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mrvanengelen
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April 03, 2015, 05:59:42 PM |
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Abyrnes81 is right: Try face-to-face on a public location with internet. Someone who would buy 25K bitcoins also has it's own cold-wallet to bring.
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jacktyme (OP)
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April 03, 2015, 06:38:01 PM |
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My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?
I briefly read about the BurtW story. But why did he get arrested? Is it illegal to cash out huge amounts of crypto?
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abyrnes81
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April 03, 2015, 06:42:01 PM |
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My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?
I briefly read about the BurtW story. But why did he get arrested? Is it illegal to cash out huge amounts of crypto? This is the accusation against him : 14-cr-00398 USA v Burton Wagner 18 USC 1960 Count 1: Operation of Unlicensed Money Transmitting Business and yes, it seems that in certain nation it is not legal to sell cryptocoin without owning a license (but not in all the World).
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pedrog
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April 03, 2015, 08:59:20 PM Last edit: April 03, 2015, 09:10:52 PM by pedrog |
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My personal opinion, you should sold all those 25,000 bitcoins through cash face-to-face. Have you read the BurtW story?
What?! It's more than 6 million dollars... Pretty sure this will bring all kinds of problems with the law.
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medUSA
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April 03, 2015, 10:06:25 PM |
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My friend has close to 25000 bitcoins in his wallet. He wants to know the fastest way to convert them into USD. What exchanges exist that support this, if any.
There is no fast way to cash out 25000 btc without getting into all sorts of tax and legal problems. I thought of an eas y way to get potential buyers to contact you. Move all the 25000 btc into one address. Sign the transaction with a message "Forsale" and your friend's email address (a secure one). Post the transaction here and people will contact your friend.
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