ignitiondefect (OP)
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February 06, 2016, 08:44:14 PM |
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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?
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richardsNY
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February 06, 2016, 08:57:13 PM |
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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.
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European Central Bank
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February 06, 2016, 09:20:05 PM |
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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.
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The Sceptical Chymist
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Cashback 15%
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February 06, 2016, 09:29:06 PM |
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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.
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.
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whywefight
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www.explorerz.top
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February 06, 2016, 10:46:49 PM |
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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??
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Laosai
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February 07, 2016, 12:34:18 AM |
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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 ^^
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Monnt
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February 07, 2016, 12:45:25 AM |
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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.
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mkc
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February 07, 2016, 01:11:26 AM |
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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.
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Amph
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February 07, 2016, 07:33:10 AM |
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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
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avw1982
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February 07, 2016, 08:51:43 AM |
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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.
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talkbitcoin
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All I know is that I know nothing.
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February 07, 2016, 09:27:32 AM |
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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
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Laosai
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February 07, 2016, 10:08:49 AM |
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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...
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erikalui
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February 07, 2016, 10:19:18 AM |
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How can you term bitcoins as illicit when it's not considered one now? It's very easy to sell bitcoins for cash and it's nothing to do with legality or anything but just as simple as trading and I earned my bitcoins from a trusted source not from illicit sources.
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Paultango
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February 07, 2016, 10:35:00 AM |
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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?? I don't think so. He said he has no bitcoin. It is possible to just use a mixer to remove the trace of the bitcoins.
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SFR10
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Crypto Swap Exchange
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February 07, 2016, 10:55:22 AM |
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The only way for this to work is if you have a middle man to do the job for you, without exposing your real identity in the first place but you could also use some mixers as well. Not sure if your actual case is if your going to acquire some illegal money or your residing on one of the countries that use of BTCitcoin is forbidden so in case your it's the latter one then you could also try a in person dealings from local person and only exchange at the same time without giving each other your identities.
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Laosai
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February 07, 2016, 11:00:04 AM |
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How can you term bitcoins as illicit when it's not considered one now? It's very easy to sell bitcoins for cash and it's nothing to do with legality or anything but just as simple as trading and I earned my bitcoins from a trusted source not from illicit sources.
Yeah you just have to makes your btc go trhough a little dozen of wallets and nobody will be able to trace them. Mix them together, shake it shake it baby and you'll see it'll all be as if the coins were normal. Maybe a buy a few legit coins in order to mix them with? It won't be easy to track them down.
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Master_dandosha
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February 07, 2016, 11:42:02 AM |
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two option you have first you can use mixer to do that job for you without being exposed here in bitcointalk there are reputable mixer provider. second option find a mediator . but the first one is preferable.thanks
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erikalui
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February 07, 2016, 12:58:27 PM |
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How can you term bitcoins as illicit when it's not considered one now? It's very easy to sell bitcoins for cash and it's nothing to do with legality or anything but just as simple as trading and I earned my bitcoins from a trusted source not from illicit sources.
Yeah you just have to makes your btc go trhough a little dozen of wallets and nobody will be able to trace them. Mix them together, shake it shake it baby and you'll see it'll all be as if the coins were normal. Maybe a buy a few legit coins in order to mix them with? It won't be easy to track them down. I am not worried about being tracked as 90% of my income is in the bank. I'm only worried if bitcoins are termed as illegal as then I won't be able to use them and currently I just trade in bitcoins which is doesn't make the coins illicit. I already use Xapo which hides the identity or the users but that's because it saves fee else I used to have a blockchain wallet.
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bearex
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February 07, 2016, 01:27:21 PM |
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You go on local bitcoins, and sell them for cash. Of course you will get something like 10% less money, but you will get them.
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BTCBinary
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February 07, 2016, 02:49:03 PM |
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I don't actually think that you should worry about that. However if you are so worried about having tainted coins, you should probably start using a bitcoin mixer or something like that.
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gkv9
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February 07, 2016, 02:57:02 PM |
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You go on local bitcoins, and sell them for cash. Of course you will get something like 10% less money, but you will get them.
If the guy's got some brains, he should search for some better deals on LBTC as there are deals where you get more, it is obvious you might get cheated but there are still some trustworthy persons out there who are giving much better rates for your coins, so you ain't in any loss...
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SirLancelot
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February 07, 2016, 07:23:54 PM |
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You go on local bitcoins, and sell them for cash. Of course you will get something like 10% less money, but you will get them.
People on localbitcoins charge over 20% if you want to buy bitcoins or via other payment methods. There are many others who even exchange bitcoins for cash at a discount and that makes the trade anonymous, thus protecting the identities of the buyer and seller.
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prtty2gal2
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February 07, 2016, 07:42:28 PM |
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The bitcoins withdrawn from gambling websites are sent to my bank account directly as I exchange them on Localbitcoins. As most users said that they do use mixers to hide their identity, LBC helps me in my trades. Not all my bitcoins are ill gotten and it doesn't matter much.
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enhu
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February 08, 2016, 03:16:30 AM |
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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.
Lets say I'm a btc buyer and want to buy from someone on localbitcoin, how do i know the sellers btc is "marked" like you said. is there away to see the owned btc by someone is ill gotten or marked? The only way i can find out is just by investigating by googling the btc address or the sellers name if he isn't using another aliases. tracking is nearly impossible.
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southafricadude
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February 11, 2016, 10:09:04 PM |
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You go on local bitcoins, and sell them for cash. Of course you will get something like 10% less money, but you will get them.
Where I am you get much more money selling on LBC than at an exchange
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Gohs
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send &receive money instantly with no hidden cost
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May 01, 2016, 06:59:16 PM |
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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... Ladies and gentlemen, this means the best time to buy bitcoins is after the halving. You get btc real cheap, hold your coins for some months and then sell as prices rise. A Youtube video showed the house of parliament being lectured on the need to delve into bitcoins, seems something good is preparing to happen from that end of the foodchain sometime after the halving.
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TommyBitcoin
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May 01, 2016, 08:08:44 PM |
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Lots of good advice on this thread, especially using several mixers and wallets at timed intervals and using a middle man to preserve your identity.
You still run into the problem of having too much wealth. If anybody were to find out, you would have a lot of explaining to do.
Kinda like on Breaking Bad, when the car wash wasn't enough to launder the money, so Walter is buying barrels in the desert.
You would have to be very careful in how to spend it. I read one way to launder money is to open a bar and pay your friends with the laundered money to frequent the bar. I still think that between the sophisticated computing systems looking out for patterns of laundering money and people who are hunting down money launderers it is pretty tough.
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*********BUY OR SELL YOUR BITCOIN TO A TRUSTED TRADER******** ***I want to buy and sell you bitcoins***(eight )-(eight)-4 85-TOMMY
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Bitcoinbee
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May 13, 2016, 05:35:53 AM |
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The world's best bitcoin sports betting site! https://www.lunarbets.eu/Lunarbets.eu - Bitcoin Sports Betting $ Bet on your favorite sports team against other players $
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2c0de
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May 14, 2016, 01:15:17 PM |
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Simply shuffle it around for a few years until the case is barred and archived
Then you can simply cash it out, nobody has to know anything.
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DHjxvnHB9RirtPbvkovSotn1fY2poNffoi LWeT4wwDVdJ9x49UcXPyS6CznRpbQFM6nx 0x96273C2FD825f0A2745d917bbbfabD6032dC1aDD
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tommorisonwebdesign
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May 14, 2016, 02:33:08 PM |
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Practically, I've been selling my bitcoins on localbitcoins.com. I have not run into any problems because i only dealk with people who have a high trust rating, ask well, as having a decent trust score myself. you're most likely going to need to provide your ID to exchange Bitcoin.
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Signatures? How about learning a skill... I don't care either way. Everybody has to make a living somehow.
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European Central Bank
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May 14, 2016, 07:34:49 PM |
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Simply shuffle it around for a few years until the case is barred and archived
Then you can simply cash it out, nobody has to know anything.
I dunno, man. There's alot of blockchain analysts with too much time on their hands who'll follow that stuff for years, especially if it's their coins.
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robelneo
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Bons.io Telegram Casino
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May 31, 2016, 05:04:17 PM |
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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?
Don't do one transaction diversify your coin to many wallets and drip it from time to time you can also avail of bitcoin mixer to mix your wallet it's more easy that way but Bitcoin is decentralized and anonymous they will have a hard time tracking you..
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