If you had suddenly 500 BTC

[Curious8]

How would you transfer the btc to your bank account without making the Banks / OECD /  ask questions?

And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?

[1715628172]

1715628172

[1715628172]

1715628172

[Adriandmen]

Maybe in portions of 5 BTC?

Or just throw in into a tumbler and just cash out. What are the banks going to do about it ...

[cryptoheadd]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Why would you want to convert those BTCs to fiat?
Just buy what you want with Bitcoin.

[Divinespark]

Localbitcoins into cash via many f2f deals with different guys. Then slow introduction into economy through gradual spends. I would not move the money into the banking system at all

[OmegaStarScream]

There is different possibilities , It may be a huge amount but If you split them you will be just fine.

1. Selling some hand to hand with someone from LocalBitcoins
2. Adding some to different Bitcoin credit card providers (some to CoinsBank , some to E-coin , some to Advcash) and withdraw.
3. Trade some to your Paypal and withdraw them to your Bank account.

etc... there is a lot of possibilities honestly . I would worry more about getting 500 BTC in the first place rather then worrying about how to cash them out.

[Sir Alpha_goy]

Good luck.

So much for a new paradigm when you still need the old paradigm to use it.

[n691309]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

[Curious8]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

This is not smart at all. too many people work with you, easy to track you down.

[hawkins]

it would be very surprising. I guess I would be a rich man, Well, if I suddenly have a bitcoin that much, I'll probably build a business everywhere, so that I can live with ease, but my income keeps going. it was the best thing I can do

[n691309]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

This is not smart at all. too many people work with you, easy to track you down.

Well I don't know what is the source of these bitcoins but if it is legal then i wouldn't worry to much. Maybe up to 3k per person should not make your bank ask what you are doing or anything else. You can sell them for cash locally in your city or country and not being noticed. Also you can buy hardware things and then resell them.

[devil11]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

This is not smart at all. too many people work with you, easy to track you down.

Well I don't know what is the source of these bitcoins but if it is legal then i wouldn't worry to much. Maybe up to 3k per person should not make your bank ask what you are doing or anything else. You can sell them for cash locally in your city or country and not being noticed. Also you can buy hardware things and then resell them.

The best and safe from all is that you should buy some things like computers accessories, mobiles etc. if you like it. Then sold it locally. And the remaining you can transfer to your bank account and cash it out. Also you use it in trading if you want to grow your amount. I think so you cannot now be noticed by anyone except from one whom you told this !

[Curious8]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

This is not smart at all. too many people work with you, easy to track you down.

Well I don't know what is the source of these bitcoins but if it is legal then i wouldn't worry to much. Maybe up to 3k per person should not make your bank ask what you are doing or anything else. You can sell them for cash locally in your city or country and not being noticed. Also you can buy hardware things and then resell them.

The best and safe from all is that you should buy some things like computers accessories, mobiles etc. if you like it. Then sold it locally. And the remaining you can transfer to your bank account and cash it out. Also you use it in trading if you want to grow your amount. I think so you cannot now be noticed by anyone except from one whom you told this !

But to sell in those stocks you need to be legitimate business and provide invoices..
this not good idea.

[Zeta0S]

How would you transfer the btc to your bank account without making the Banks / OECD /  ask questions?

And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?

I would send it to the real Genesis Block

[Curious8]

How would you transfer the btc to your bank account without making the banks / OCED ask questions?

Hiring 250 people and then send they the money to you but it will still be noticeable if this happens at the same time with the same amount of withdrawal to the banks. Maybe buying something else withdrawing time by time not all in once etc.

This is not smart at all. too many people work with you, easy to track you down.

Well I don't know what is the source of these bitcoins but if it is legal then i wouldn't worry to much. Maybe up to 3k per person should not make your bank ask what you are doing or anything else. You can sell them for cash locally in your city or country and not being noticed. Also you can buy hardware things and then resell them.

of course it is. isnt it weired that to many people transfer you money and your not business ? what you give them in turn ?
in case of investigation the first thing to do is to investigate those people.

[bitbunnny]

If I suddenly had 500 BTC then I suddenly would be very rich.  This is not very likely to happen but would have very serious thaughts what to do with that amount of Bitcoins, how to invest the, how to spend them, how to make the profit even bigger. I would be very affraid not to get hacked or not to make bad decisions and lose them.

[socks435]

Honestly for me if i had 500 btc its very difficult to withdraw it because they will ask if where did i get that huge amount of money..
but i think many credit card here like bit-x coinbank are offering that you can withdraw it and transfer to your bank account.. without any hassle..
Also if you can trusted someone you can convert your bitcoin in to paypal instead.. and withdraw it.. but for me its risky  because its a huge amount of bitcoin anytime they can reverse the payment..

[dragonusa9]

if this really happened, that i will hold it and sell it when the price rise. manage it and maintain to earn more than only 500 BTC. investing 400 BTC and giving 10 BTC as charity is not so bad to do

[Barbut]

How would you transfer the btc to your bank account without making the Banks / OECD /  ask questions?

And even if you get cash from localbitcoins someday the efforoties may ask you from where this car or how you bought this house..
What would you do ?

I would find a way to transfer money into bank account, that is not a problem. Maybe I will need some time to finish that, but it would be done in a month or even sooner.
Second thing is a bit confusing for me, why would I hide where I got the money? Since I got into btc world I`m telling people around me for this, and many didn`t even hear for bitcoins. Anyway, I`m talking how btc is the future, how we will use it one day like any other currency. I`m talking how its growing, how I`m earning it.. and when I finally get all this coins why would i hide it? I think people around me will finally see that someone can earn from btc, and that is a good sign for future.
I think I would buy a car and put a BTC on every door, so anyone who see my car will know where I got it. And everything else will have BTC sign.

[bitbunnny]

Honestly for me if i had 500 btc its very difficult to withdraw it because they will ask if where did i get that huge amount of money..
but i think many credit card here like bit-x coinbank are offering that you can withdraw it and transfer to your bank account.. without any hassle..
Also if you can trusted someone you can convert your bitcoin in to paypal instead.. and withdraw it.. but for me its risky  because its a huge amount of bitcoin anytime they can reverse the payment..

I agree, Bitcoin debit cards are good ways to withdraw the money. Although I think that they also have some obligations related to anti-money laundering laws and policies. But you don't have to withdraw such a large amount at once.

[outatime1]

I would most likely transfer to an exchange like coinbase and then send to my bank account. I would do it in small amounts of course because I don't really trust any exchange.