If you had suddenly 500 BTC

[helloeverybody]

Cashing out with a face to face transaction is your best and easiest bet if you don't want to raise any unwanted attention to yourself.  Simply selling 1 a week directly into your bank account would be fine too as it would just look like weekly wages.  If you wanted to go mental with spending then just get a bitcoin debit card. Unfortunately this isn't a situation in ever going to be in.

[1714963117]

1714963117

[smho_16]

I would be very happy and directly I would have quit my daily job. 350.000 Dollars is a nice amount and with that I can live for the next 30 years without problems, life would be very beautiful if this happened to me, but I know it will never will so back to reality and to my mere small amount of coins.

[bearex]

probably sell them all, and try to live off the money

[zwanzig20]

I would be very happy and directly I would have quit my daily job. 350.000 Dollars is a nice amount and with that I can live for the next 30 years without problems, life would be very beautiful if this happened to me, but I know it will never will so back to reality and to my mere small amount of coins.

What would you do with your freetime then?

[helloeverybody]

probably sell them all, and try to live off the money

You'd be hard pushed to sell them all in a oner without drawing alot of unwanted attention to yourself.  Also you could stand to make a whole lot more money simply by hanging into them.

[raphma]

and why would you?
there are better ways to spend your bitcoins.

but, if you really need to cash out TO YOUR BANK account, then i dont think there are other way, you will have to do it slow 

[yenxz]

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 ?

Little bit hard,i think banks will ask me about ckarification,its very big amount of money,but i will keep transfer with many banks account,spread money on several account.

[Posum578]

I will spend it, i will use it to get better life
Seriously if i ever have 500 bitcoin or i am the earlier bitcoin user and become millionaire i no need to work again
Just having a nice time with my family

[Jeremycoin]

I would do it slowly, I wouldn't just withdraw it to fiat with a sudden. I would probably withdraw 10/5 BTC first, and keep doing it every month til I can finally withdraw the half of them. Because I don't want to withdraw it all, I want to keep the 50% for a long investment for myself.

[gentlemand]

I would tell the bank where the money was coming from? If it's my property then it's my right to sell it and pocket the cash, not that I would. No laws are being broken.

[1Referee]

I would prefer not to sell any of it, but just for the sake of answering the question- I will cash it out in several steps. Probably a few BTC per time. I have no problems with this taking quite a long time to convert all these coins to fiat. I just don't want to government to snoop from my money once again.

[Akupuniard]

It's a free sprot car and also easy house rebuild, if it happent to me it will be my luckiest day, but i don't believe on fairytails so i will keep working by myself.

[chaosknight]

I would prefer not to sell any of it, but just for the sake of answering the question- I will cash it out in several steps. Probably a few BTC per time. I have no problems with this taking quite a long time to convert all these coins to fiat. I just don't want to government to snoop from my money once again.

Yeah transferring on regular basis will help you in keeping away from any controversies and would prefer to sell coins in small amount so my earnings with bitcoin would  be safe.

[Hugroll]

if i had 500btc, i would cash out slowly, aiming to not drive the price down. maybe 1 btc per day for like a year and then hodl the remaining 135 btc to give to my kids or something.

[Junko]

If I had suddenly acquired 500 BTC somehow, I would just hodl it while the price increases. Then if I were ever ready to convert any of it to fiat, I would just do so and pay whatever taxes I needed to and be able to sleep comfortably at night not having to worry if the FBI/Homeland Security or whoever will be breaking down my door in the middle of the night and pulling me out of bed with an assault rifle aimed in my face.

[aaf-18]

How about,

convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income

[hermanhs09]

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.

Yep, great answer, why convert when you can simply spend it right away without hassles?

[HarryKPeters]

How about,

convert - buy or build an online business and convert to cash
Invest - invest online and turn into long term slow cash income

These are both  ok, but I am sure I would choose to have at least half of it in fiat. To protect myself from bitcoin's volatilty.  The rest would go in
- Investing in altcoins
- Investing in a new venture.

[ghost15]

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 ?

you can answer him that you are wining this amount from gambling

[angaper]

In my personal case I would not be interested in exchange my bitcoins for fiat through a bank account my friend. But in case of some emergency I only would withdraw a maximum of 100 BTC. I would do it through my forex broker, which allow me to deposit bitcoins and withdraw dollars via bank transfer.