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

[Leonius]

Im not sure if anyone has answered OPs question directly yet haha.  I can make a suggestion of a route but its not pretty.  Neteller offer 5% deposit fee and normally $5-$10 cash out fee for any size.  They are very well trusted but it sucks to have to pay 5%.

[ZOOM007]

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. There is a chance that the price will rise double but you need to be fast if the price will rise fast there is a chance that the price will down.

[GreenBits]

I think the first question is not serious, even in the "anonymity" of this forum no one would be so dumb to say "hey, I own 100+ BTC, kidnapp/harass/etc. me". About the actual question, you do not really need to "cash out", you can buy a few goods at different stores that accept Bitcoin and then sell them. With that much, and if every BTC was worth 2000 as you hypothesize, you can even start your own store. It can still rise flags, but not as much as selling BTC directly.

If you have the time to spend it in smaller bulks, you are safer.

Amen. This is why I seriously question those that would come forward as Satoshi. But he has a point, if bitcoin goes high enough for one to want to "cash out", the technology will be broad enough so you won't have to. It's money; a better price would hopefully mean widespread adoption and more places to spend said money. Live on it

[hasiramasenju]

actually i was never have 100+ BTC in my life because I'm not rich as it but if i have bitcoin on those amount i would not cashout all my bitcoin but i would save 50 btc as idle coins and considers those bitcoin as my future investment

[Mr.grin]

until now I've never had more than 5 BTC. Well I guess I could have it soon, so that I can BTC 100+ dream too. maybe I'll exchange it bit by bit

[wormbog]

The question is not "should" you cash out, it's "how" do you cash out with minimal risk and expense?

First, consider where the coin came from in the first place. Did you buy it? Mine it? Do you have any records of where you bought it and how much you paid?

Assuming you are in the USA, you will owe taxes on whatever profit you made by selling the bitcoin. If you can't show how much you paid for it originally, the IRS will assume you got it for free and tax you on the whole amount.

Now, let's say you send 100 btc to Coinbase to sell and cash out. First, you can only withdraw up to your daily limit each day, and the limit starts at $3k. You can increase your limit by providing additional proof of your identity.

Now, let's assume you've been withdrawing $3000 per day into your bank account for the last couple weeks. Your bank is going to notice that you've suddenly got a bunch of money moving through your account. At some point they're going to freeze your account and notify the IRS that something suspicious is going on. Then your bank will contact you and ask for some explanation of where all that money is coming from. And they're going to want to see some proof. You need to be ready to answer those questions before you start cashing out. You might also want to tell your bank in advance about your plans.

Now, if we're talking about cashing out 1000+ bitcoins, talk to a lawyer.

[Crazygreek]

It will be a car for sure, and i will try to get best car for this money ever. Than i will try to spend other money on myself and my girlfriend on our trip.

[Altynbekova]

until now I've never had more than 5 BTC. Well I guess I could have it soon, so that I can BTC 100+ dream too. maybe I'll exchange it bit by bit

I also would do this plus I think if you do it bit by bit you also will not spend it all at once because that would of course be bad.

[dinda22]

until now I've never had more than 5 BTC. Well I guess I could have it soon, so that I can BTC 100+ dream too. maybe I'll exchange it bit by bit

I also would do this plus I think if you do it bit by bit you also will not spend it all at once because that would of course be bad.

I think when you have never had more than 5 BTC, and when you have 100 BTC, you will always think not quiet, for fear of losing. so I think you will cash out all into fiat
because I also when it's ever experienced when it has a lot of BTC. but now it is commonplace if I have a lot of BTC

[Rude Boy]

If i own 100BTC i'll never cashout, instead spend those bitcoins directly. I'll not even cashout if i hold 10BTC

Even if i got a chance to cashout 100BTC, i'll never cashout the whole amount, i'll hold at least 10BTC for future use.

[romero121]

If i own 100BTC i'll never cashout, instead spend those bitcoins directly. I'll not even cashout if i hold 10BTC

Even if i got a chance to cashout 100BTC, i'll never cashout the whole amount, i'll hold at least 10BTC for future use.

Same here I would try multiplying those bitcoin, but will cash out for my regular needs and will surely go full time upon bitcoin for a reliable and secure earning.

[Labumi]

I have some BTC (meets your requirements), don't plan to cash out. Thank you very much for asking!

I think there are many reasons why someone does not do cashout and replace today to fiat. maybe they are waiting for higher prices again due to profit. or perhaps the purchase price was still higher than the current price. because the price down a little if you have 100 BTC then you will lose a very large

True, everyone also has different ideas, it could just be doing their Fiat, because they thought that there was still the possibility of higher prices again. For if do Cashout for a sizable amount of it has a large risk, I.e. in the event of a price increase could be higher than Cashout does and it's very unfortunate when it happens.

[Marbit]

If I have 100+btc then my plan would be high for multiply my all coin, will 20% cash out, 60% investment and other 20% will invest in gambling site because there are big chances to invest small and get more reward in quick time.

[mogrith]

buy gold/silver with BTC

assuming from OP I must cash out large amount right now.

[ObscureBean]

I would say the safest and easiest way to cash out that much would probably be through Bitstamp. It won't be immediate though, it'll take between 2-5 business days to reach your bank depending on where you're located. Account verification is easy (got mine within a week). They're not as fussy as Coinbase plus they're fully licensed now which is always a good thing.

[Searing]

Cashout....

Likely like all others on here ..when Satoshi flushes his public wallets and dumps ..and the price goes sub 10 bucks due to panic...I'd be one of the lemmings.....

would be a good joke on his part however...cash out coins from other wallets he likely has from back in the day......flush the big public ones to cash  

he likely would have more money then he could ever spend form $$$ out from before the crash ...no more BTC $$$ in value to revive it

he is secure in $$$ and in keeping his identity secret......moot point if BTC was at that point to go the way of paycoin.....


..and would sit in his 'secret lair' and laugh like this




Ah.Doctor Evil ...you 'fiend' you......I knew you were to 'Evil' to be 'just' a movie villain!

(hopefully the above is a 'joke' but that would be one very messy way to 'cash out' as a Satoshi 'see ya later suckers' version imho )

[yenxz]

no i dont have that much bitcoin,100+ Bitcoin is too high for me,honestly i also will confuse to cash out all of that amount,but i i have to cash out,i will sell that amount in cheaper price to trusted people,or maybe use that bitcoin for buying Tesla

[ArafaA]

I wish if i have this amount of bitcoin but  i am working on it , hope this time i will successed . but in case i want to cashout 100+ definitely my first choice will be to use localbitcoin escrow for sell inside my country , secondly i will choose bank transfer for buyers outside my country with reputable escrow.

[Rizky Aditya]

I definitely do not have 100 or more Bitcoin. Why would you want to cash out now? The price is going up so much and you will make a lot of profit if you just hold.

[crazyivan]

Bubble burst? Sick and tired of these speculations. Get a BTC debit card and cash out what u need and when u need. Stop trying to speculate the market.