Do you have 100+ BTC ? - How do you plan to cashout ?

[mki8]

This question is only for those with a considerable amount of BTC !!!!!
(Please, no satflaps)

If you are holding 100+ BTC
how do you plan to cash them out or say at least half of them, if BTC prices rises, but before bubble bursts
so how would you cash out 50 BTC quickly ?

i am mostly looking for answer that requires least amount of fees and effort,
exchanges like coinbase, you run the risk of them holding your BTC and questioning the source of your BTC etc.
i assume if price of BTC was say $2000 and you try withdrawing exchanging 50 btc for fiat,
it may raise a flag on their system

Localbitcoins, would be time consuming and hassle for such amounts
ATM you are paying 7%, not so bad if price has risen a shtload, but still be time consuming emptying the ATM everyday
and you may need to pay for a hotel to be near the ATM

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[Holliday]

Cash out? There is no need for a fiat conversion at this point.

[Denker]

Cash out? There is no need for a fiat conversion at this point.

Why you wanna cash out?So desperate of need to have some fiat in your hands or what is it?
If you can't find people who wanna buy BTC or the fees are too high for you, why not buy some goods with it which you can sell after it on online markets for cash?!

[Searing]

Cash out? There is no need for a fiat conversion at this point.

Agree. Thou I never thought I'd get to 100 BTC in any way, shape or manner by Mining. (Still doing great with knc Titan Miners..ie ROI'd etc)

Looking at 100 BTC as my now 'untouchable hoard'


So I MAY STAY AT 100 BTC .but thru mining will .be cashing out BTC now (and having equip pay electric) to knock the total amount of $$$ I have in equip and elec in BTC down

since 2013.

Seems prudent. Even if BTC pumps...I likely will only get another 10 BTC out. Thus 100 btc or 110 btc if it goes to the 'moon' I'm set. If not and goes

tulips...well ..I'll have the nice USB at the old folks home to hoard my 100 btc on as a novelty

anyway ...they can 'fend' for themselves now in the wild ....pay their own electric and such.....bring some $$$ back to Papa

[Rizky Aditya]

If i had that amount of Bitcoin, I wouldn't cash out now, Bitcoin is doing so well and you would just be plain stupid if you cashed out now.

If I ever did cash out that amount, I would use a exchange I could trust very well.

[bitkilo]

Just prepare an account on exchange that you can trust

Many people trusted Mtgox and look what happened there.

I get the impression that the OP wants to cash out and stay anonymous,  under the radar.
The best way to do that would be to spread the risk and leave no trail. That means cash out to your bank is not an option.

You can forget 2-way bitcoin ATM's as they will require all sorts of ID and probably palm print to.
Localbitcoins may take some time but you can remain anonymous and trade for cash.
Visit a bitcoin meetup group and sell at a discount for cash would probably be your best option, it worked for DPR.

You could also look to trade here with someone local and agree to meet them.

There is other ways but I cant think of them now.

[quintiilieo]

For me i cash out the 50 bitcoin so that if the bitcoin will down in coming bitcoin halving i have my money in my hand. But if you want to earn more try to risk it because no one knows what happen in bitcoin halving if the price will down or not. Theres a chance that the price will rise double but you need to be fast if the price will rise fast theres a chance that the price will down.

[senyorito123]

For me i cash out the 50 bitcoin so that if the bitcoin will down in coming bitcoin halving i have my money in my hand. But if you want to earn more try to risk it because no one knows what happen in bitcoin halving if the price will down or not. Theres a chance that the price will rise double but you need to be fast if the price will rise fast theres a chance that the price will down.

if i have 100btc? Well thats a big money and surely i will cash it out as soon as possible because i want to feel the money in my bare hands and i will put it to bank so my money will be safer and start again new for bitcoin,  and surely i will enjoy my  money cent by cents because i dont really trust the system of bitcoin if i have big amount of btc in my wallet because it can be hackable.

[LiteCoinGuy]

This question is only for those with a considerable amount of BTC !!!!!
(Please, no satflaps)

If you are holding 100+ BTC
how do you plan to cash them out or say at least half of them, if BTC prices rises, but before bubble bursts
so how would you cash out 50 BTC quickly ?

i am mostly looking for answer that requires least amount of fees and effort,
exchanges like coinbase, you run the risk of them holding your BTC and questioning the source of your BTC etc.
i assume if price of BTC was say $2000 and you try withdrawing exchanging 50 btc for fiat,
it may raise a flag on their system

Localbitcoins, would be time consuming and hassle for such amounts
ATM you are paying 7%, not so bad if price has risen a shtload, but still be time consuming emptying the ATM everyday
and you may need to pay for a hotel to be near the ATM

1. Exchange   ? it "may" raise a flag on their system but if you can prove when and where you bought the coins there is no problem. cashing out wont be a big problem - you should put more effort in storing them properly 

[calkob]

i dont have that amount but even with the small holding i have i dont ever plan to cashout.  i am going to wait until i dont need to cashout because ever thing will be priced in bitcoin.

[justdimin]

Some satflaps could even answer this question. You just bunked coinbase and localbitcoins, which are probably the best places to sell your coins. And of course it would trigger a flag if you hastily cash out 50 BTC. I mean, why would you do that? Banks have their daily limits. I guess it applies for bitcoin wallets too, since it's money we're talking about.

[Oralmat]

Actually now i have not 100 Btc, now i have 10 Btc, and i don't need fiat currency, i think my Btc is better than fiat. I will be cashout  from bitcoins, but it is not a suitable time.

[7788bitcoin]

No I don't. I have about 5+ and not planning to cash out any... I hope I will be able to spend them as bitcoin, but not to exchange them into cash.

[AlexBits]

If you have 100+ coins i wont sell them yet just wait for a price rising. You will get much more coins
if you just hold them for a period and check everyday the value of the coin.

[European Central Bank]

Contact somewhere like Grayscale and see if they can find a buyer for you. I dunno if they still broker sales but they advertised it for amounts of 25 coins and above when they were secondmarket. OTC sales are always gonna way more painless if they're done through the right people.

[yayayo]

I don't have that much BTC. However how to cash out is the wrong question.

Why would you want to cash out in the first place? To buy fiat money that is subject to inflation? Why would anyone who owns a superior currency like Bitcoin want to do that?

One might also ask on a more fundamental level if "cashing out" is the right terminology when it comes to Bitcoin. Because, if Bitcoin succeeds as a currency, it will work just like cash. You will be able to buy all your necessities with Bitcoin. No more need for dishonest fiat paper from a central bank.

ya.ya.yo!

[Victor Beckham]

Let me quote an old post...

-snip-
Point being, selling bitcoin for dollars seems counterproductive.
-snip-

[LiteCoinGuy]

Contact somewhere like Grayscale and see if they can find a buyer for you. I dunno if they still broker sales but they advertised it for amounts of 25 coins and above when they were secondmarket. OTC sales are always gonna way more painless if they're done through the right people.

you dont need Grayscale or any other OTC market for several hundred coins. that is not a big amount for an exchange.

[Divinespark]

I have far less than 100 BTC but my sense is that with the proliferation of large exchanges such as Coinbase/Gemini in the US and Bitstamp in Europe, that there should not be an issue with getting liquidity.

100 BTC is not a huge holding in the grand scheme of thinhgs

[PinkLlama]

"100 BTC is not a huge holding in the grand scheme of thinhgs"

Apparantly, $45,800 is not a huge holding. That's what someone earns in a year.