Chaining qoutes and replies, like a boss.
You could move out of Sweden? Correct me if I'm wrong here, but I'm getting the impression that you're not fond of the country.
Anyways, taxes will probably be a problem regardless of country. And with the volume of BTC you have... well, most online exchanges have limits on transactions to cap the amount you can sell at a time. You'd have to do quite a few micro-transactions, I imagine. Cash would be the easiest way to avoid a tax issue, but the volume is an issue there as well (as you said yourself).
You don't want to just hold on to the Bitcoins? I can't imagine too many options you have to choose from. Except maybe opening a foreign bank account?
Yes, you are absolutely right. I'm not so fond of it. Well, I don't want to sell my bitcoins as of today, I'm guessing we will be experiencing a dip after the next difficulty level raises and there's some influx because of the speed of the asics, but that's really good for me. I will invest a bit more if my theory comes true.
Ah yes, the sheer quantity is a problem.
Ah. Sweden's been cracking down on offshore-ers. They've signed treaties with most countries on that list. It's still a good idea though! There are still some countries that doesnt give out info.
Think about how would you liquidate $54k in gold, and you'll get the analogy.
Well, bullions of gold and such is pretty standard in the US, right? Here it's not. I just can't think of how anyone would have $54k in gold here in Sweden. Over the decades we've been stripped of our rights as citizens.
Don't know if you would like this idea, but you could deposit some of them in a Ripple account (effectively converting them to XRP.) They could then be withdrawn through a gateway like Bitstamp in whatever national currency you please, whenever you want them, in whatever quantity you wish.
Very intresting. I glanced at ripple, it looks promising! Will look that up further.
Step 1. If the country is that bad, leave.
Step 2. Do not sell the bitcoins. If they become as popular and valuable as you seem to think they will become some day, it will be because they can be used without having to sell them. You will just spend the bitcoins for the things you want to purchase.
I will move. I do need to liquidate
BTC100 for the move, but that shouldn't be that hard. I also have a job which I don't need to be physically at to do, so yeah. I've been planning to move for a couple of months now.
How do you sell a big amount of bitcoins without risking your ass in a fascist piece of crap country?
Maybe take a short vacation to a less socialist country that's nearby. Is it easy to bring Euros in Sweden and then sell them a little bit at a time?
Also, it appears that Rick Falkvinge might have some experience selling BTC in Sweden. He might be willing to provide you with some advice.
http://www.economist.com/blogs/babbage/2011/10/virtual-currenciesIt's possible to bring 10.000 euro legally, but honestly, I think it's possible to bring more.
Ah, interesting. I wonder if it's possible to get ahold of Rick.
Very simple
Take a train ride to neighboring country; cash out and bring it back; deposit small amounts every weeks back into your accounts.
I would recommend that you keep a good portion though in btc.
Ah. Yes that's a valid theory. I could cashout €10k every time, that's what we're allowed to bring back and then siphon it back into the bank account over a year or more. Slow but possible.
I won't sell my bitcoins at the current rate. I believe in them.
Yes but even if I did, what are the payment forms? Cash? Also, I don't think it's possible to sell all of it, the market is kinda limited.
You've just given several fantastic reasons why one would want bitcoins instead of fiat, then you asked how to exchange your bitcoins for fiat!
Do what I'm doing, wait for the rest of the world to realize there is a better way and then simply spend your bitcoins directly. If fiat is in such a sorry state as the picture you've painted, and people are getting fed up with it, it's only a matter of time.
No or well. Yeah. I am currently looking for a method to cash my bitcoins out, but that's simply because if I were in need can get myself some food with kronor, but I can't get anything with
BTC. That's the sad truth here. I won't cash them out right now, as I've stated above. I'm hoping for it to be a widespread and known currency, but I fear it'll only take place as the king of online currencies.
Yeah. That works if people pay by cash! Thanks for a good reply everyone by the way.
how I would be able to cash my bitcoins out in the future?
Of course, the best method is likely to spend your coins on items you would purchase anyway.
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http://en.bitcoin.it/wiki/TradeFor things where bitcoins aren't (yet) accepted like rent, utilities, food, local retail purchases that won't help.
Are Euro useful to you?
Bitcoins In Berlin will send them via the mail to you.
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http://en.bitcoin.it/wiki/Bitcoins_In_BerlinThink about how would you liquidate $54k in gold, and you'll get the analogy.
Not just an analogy, but another idea.
You can buy gold and silver bullion with bitcoins, and then trade the bullion for cash.
There's also another method. Kapiton.se is a market exchange. I don't know if you need to verify your identity to register and use that exchange. Let's say you don't. You can then trade BTCs to SEKs, but then not withdraw anything to your bank. That will give you the ability to convert BTCs to SEKs so that you aren't further exposed to the BTC/SEK exchange rate risk.
Then at some future point in time, you can offer to sell bitcoins for cash, and when you find a buyer you simply use those SEKs in your account at the exchange to purchase bitcoins at whatever is the current exchange rate at the time and withdraw the coins for delivery to your buyer.
Yes. I could use the Euro here in Sweden, well, decently anyway. So that would probably work, but I'll check it out more later.
No. Trading isn't a vial method here in Sweden. I am yet to see any business accept it. Or well. Actually there's a door company that accepts bitcoins. But yeah... Doors. Kapiton needs verification, but it's a good idea.
Another popular method with setting up offshore accounts, is setting us a credit card linked to that account. That way you can use the c.c for your daily purchases in your home country and the bank a/c and money is overseas.
I'm a newbie in this matter. Can I just be honest and tell them "Yes, I invested while
BTC was low and now I wanna deposit the cash in here" or do I need to have some kind of reciept like in Sweden, it feels like any bank would like some proof of it. The money is mine, but I mean.. That's all I can give them for proof?
Thank you all for the speedy replies, it's much appreciated. As I said in the beginning, I've been planning a move to some warm place, however, wouldn't the same rules apply for like Spain, Thailand, Indonesia or something?
