LiteCoinGuy
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In Satoshi I Trust
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May 11, 2016, 04:32:38 PM |
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I am not even close to getting one bitcoin so it will take a long time to reach over a 100 bitcoin but if i did i would cash out via the bank.
And which bank are you planning on walking into to cash out your bitcoins? Satoshis Bitcoin Bank  |
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Whoever mines the block which ends up containing your transaction will get its fee.
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lite
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May 11, 2016, 04:44:40 PM |
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There are so many exchangers available in the market. A little google search will give you a list who can exchange between bitcoin and paypal.
Use more than 5 exchangers and use 10 BTC with each of them to your paypal account. Once you receive the funds in your paypal account, you can easily withdraw it to your bank accounts.
But yes, you have to disclose that earning to your tax file.
It's a good idea to use different exchanges, i would do the same. but i wouldn't withdraw all my money at once, i'll withdraw few thousand dollars a month. |
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crossabdd
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May 11, 2016, 04:50:26 PM |
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I have plans to cash out 50 bitcoin and make a business or investing in real.
then 50 bitcoin keep investment in bitcoin and grow it with some of the best ways.
Bulk cash out is possible with few trading sites, in that too various limitations were there in transferring amount to the bank account. So its better to meet in personal and make the transaction. it's not a very large number, so there is no transaction limit. so I'll take everything, even though if I cash out 100 BTC. meet and make a transaction, it is very risky. |
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raphma
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May 11, 2016, 05:20:18 PM |
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If you need to cash out... well, then you should use coinbase like you said. less taxes and effort means less confiability in the service so i wouldnt do it.
just dont try to do it all at one time.
I wouldnt cash out all my bitcoins... right now theres no need for that. You can pay bills online, you can use a bitcoin debit card, and cash out a little amount to other things.
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RodeoX
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The revolution will be monetized!
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May 11, 2016, 05:23:32 PM |
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Cash out? for what, shitty fiat cash?
I have never sold a bitcoin and plan on spending mine throughout the rest of my life. I may leave some in my will, but cashing out is a dumb financial decision IMO. I paid fees in fiat to get my btc and it makes little sense to pay again for the same money I wanted to get rid of.
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Vikingr
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May 11, 2016, 05:29:07 PM |
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No I do not have that much amount, and now I am staring to collect some bitcoins and i think the simple method for its withdrawa will be the same as people with less amount of bitcoin are using, like we have to sell them on exchanges and withdraw from there.
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thejaytiesto
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May 11, 2016, 05:48:03 PM |
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Cash out? for what, shitty fiat cash?
I have never sold a bitcoin and plan on spending mine throughout the rest of my life. I may leave some in my will, but cashing out is a dumb financial decision IMO. I paid fees in fiat to get my btc and it makes little sense to pay again for the same money I wanted to get rid of.
Well, at some point you might feel like you want to cash out some of it. I don't know how many you are, but it's possible that in 10 years you may be a millionaire, and you may feel like buying some real state to diversify, maybe a nicer house and whatnot. So tell me, how are you going to buy real state with Bitcoin? you will end up being forced to get that money taxed anyway, so in this scenario there is no way to get around commissions and taxes. |
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socks435
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Privacy is always important
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May 11, 2016, 06:09:35 PM |
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Yeah and i think its better to cashout it here in my country you will be millionaire here because bitcoin is very expensive here in my country.. so that you can make 1 million at 100 btc.. you can long live with this money here in my country.. i dont know in usd.. if you can live in a long life..
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Solving blocks can't be solved without my rigs.
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RodeoX
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The revolution will be monetized!
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May 11, 2016, 08:08:51 PM |
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Cash out? for what, shitty fiat cash?
I have never sold a bitcoin and plan on spending mine throughout the rest of my life. I may leave some in my will, but cashing out is a dumb financial decision IMO. I paid fees in fiat to get my btc and it makes little sense to pay again for the same money I wanted to get rid of.
Well, at some point you might feel like you want to cash out some of it. I don't know how many you are, but it's possible that in 10 years you may be a millionaire, and you may feel like buying some real state to diversify, maybe a nicer house and whatnot. So tell me, how are you going to buy real state with Bitcoin? you will end up being forced to get that money taxed anyway, so in this scenario there is no way to get around commissions and taxes. It is hard to buy something like real estate with bitcoin easily. I am currently looking for 40 acre or larger plots in Wisconsin and have found none for sale in BTC. Of course I could use a service that allows BTC to be spent as fiat. There are some credit cards, etc. that have this function. However I am holding out for a bitcoin sale. The problem is finding the right place AND the right currency. www.bitcoin-realestate.comhttps://www.bitpremier.com/5-real-estate |
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Arcteryx
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May 12, 2016, 03:49:05 PM |
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Yeah and i think its better to cashout it here in my country you will be millionaire here because bitcoin is very expensive here in my country.. so that you can make 1 million at 100 btc.. you can long live with this money here in my country.. i dont know in usd.. if you can live in a long life..
Which country is that? Having btc will make you a millionaire there  I would like to invest my btc in business there then. |
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Kprawn
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May 12, 2016, 05:51:17 PM |
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Why would you need to cash out, if almost everything can be bought in some way or the other with Bitcoin. You just spread your hoard into different services and pay for the stuff you use on a daily basis. You save your fiat income and just use enough, not to raise the red flags... Most of the payment processors and exchanges are a necessary evil and the only way out for people, to get back to fiat. The only option is to avoid fiat conversion at all cost... pay what you need to pay in taxes and use the remaining bitcoins for the daily stuff.  |
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Cantoner
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May 12, 2016, 06:38:41 PM |
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Why are you trying to sell your bitcoin right now makes no sense at all ,and i believe poloniex ,kraken as others companies can make those cashout without any problem and they are trusted companies.
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geopolisch
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May 12, 2016, 07:22:53 PM |
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Do not Cash out 100 BTC now. Save them till halving. When you cash out on halving, you can enjoy greater profits from it. So be patient and wait for just less than ninety days.
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Kolamider
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May 12, 2016, 07:54:30 PM |
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I have some bitcoin. I do not plan to cash out. I will hold it for the long term. Then I will spend it.
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Bitcoinbro
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May 12, 2016, 08:40:12 PM |
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No I do not have this amount but I would wait till the price is raised to a high amount and than later on spend it on things online that are payable with the bitcoin...
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jdmorgan
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May 12, 2016, 09:12:29 PM |
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You do cash out for what? Crappy fiat money? If I had that kind of money I'd saving them at least until the halving planned in july.
If you have the patient to wait less than sixty days, you can ear up the 30-40% in my opinion..
By the way if I were forced to cash out my BTC, maybe I would buy some prepaid credit cards rechargeable through bitcoin and I'll use these for every day buying
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btcjoin14
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May 12, 2016, 09:12:38 PM |
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If you have that much bitcoins there's no need to cash out just sit back and realx and watch as the Stacy increases in value. I don't have that much bitcoins and probably not for awhile but I still know that it will definitely raise a flag if you try to quickly cash out.
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Laniakea
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May 12, 2016, 09:15:51 PM |
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I have some BTC (meets your requirements), don't plan to cash out. Thank you very much for asking!
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Junko
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May 12, 2016, 09:20:48 PM |
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I, like others have no need to cash out, even if the price of bitcoin goes goes beyond the stratosphere.
If I did ever need to cash out for whatever reason, I guess I would use an exchange or localbicoins.
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clickerz
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May 13, 2016, 12:17:26 AM |
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Do not Cash out 100 BTC now. Save them till halving. When you cash out on halving, you can enjoy greater profits from it. So be patient and wait for just less than ninety days.
Same thougths here,if ever I have 100 BTC. Ill wait this incoming halving period or extend another months to let it increase in value as I believe it will gain more.Then I will try to encash slowly,say 2 BTC per month |
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