If you had suddenly 500 BTC

[Karpeles]

Slowly, around 2 BTC/month.

If you want spend more, do it in BTC alone, without intermediaries.

[BillyBobJoe]

Is that a joke? There is no way to buy what one needs or wants with BTC without jumping through a bunch of expensive, unnecessary hoops. Nothing. It is almost impossible to spend BTC as easy as fiat. Face it, that is the truth.
 
 

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

y

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

[iv4n]

If suddenly 500 btc appear in my wallet for sure it would be the day ehen I become rich guy. I would sell some, but rest will stay in btc and it would be split on many parts and invested on many places. I think with that amounts invested I can expect good profit from many sides.
This is impossible to happen, I will have to earn that money myself. And I don't hope it will fall from the sky, that is happening just in the movies and fairytales.
I don't think its hard to cash out with 500 btc, it will require some time, but it can be done.

[rphk]

you can buy whatever you want online with BTC , or converting to fiat is difficult  , you can slowly day by day like 5 BTC each  day convert to fiat

[PokerFace3]

you can buy whatever you want online with BTC , or converting to fiat is difficult  , you can slowly day by day like 5 BTC each  day convert to fiat

Yeah converting to fiat slowly would be a good idea but talking about my self The day I have 500 BTC would be the happiest day of my life, and the day is very hard to come but still I'm working on it to get as much as I can. The first and foremost thing that I would do is invest all my money to stock because the money would grow and come back to multiplied.

[martinacar]

If I would suddenly have 500 Bitcoins then I would sell halve if them right now because that will earn me allot of money. I would just hold on to the other and look if I can make more money with them.
The price in the future has to be higher so I am sure that I would make more money with them if I saved them.

[~BitSy~]

It depends on certain banks as they all differ in terms of rules. Some wouldn't mind at all regardless of the amount and some are very strict specially if the activity on someones bank account changes all of a sudden and what they do usually is to contact you and ask for proof so they could be sure it wasn't claimed on a illegal matter.

[SuperCoinGuy]

If I needed to exchange 500 Bitcoins into cash I would stay away from the Bitcoin exchanges and look for private buyers instead. It would be easier to deposit $250 000 in cash later on and say that you have won that amount gambling online than trying to explain the origin of the money deposited to your bank account after using an exchange because this could raise some red flags very quickly and people may think you are laundering money or something.

[tygeade]

It depends on certain banks as they all differ in terms of rules. Some wouldn't mind at all regardless of the amount and some are very strict specially if the activity on someones bank account changes all of a sudden and what they do usually is to contact you and ask for proof so they could be sure it wasn't claimed on a illegal matter.

If we want to transfer it our bank account then there is no need in transferring that huge amount at once, transfer it on installments and everything would be fine, as your bitcoins are safe in your digital wallet too, and its not mandatory to sell them at a single point of time.

[Dr.Osh]

you can buy whatever you want online with BTC , or converting to fiat is difficult  , you can slowly day by day like 5 BTC each  day convert to fiat

yes, you can buy whatever you want. but, if I suddenly have 500 BTC, maybe I'll hold it until bitcoin prices of more than $ 1,000. I think it is the best way that I have a lot of money. after it bought an apartment or house, and start a new life as a millionaire and a businessman. Well, it sounds very interesting

[MaritiJames3]

If I would suddenly have 500 Bitcoins then I would sell halve if them right now because that will earn me allot of money. I would just hold on to the other and look if I can make more money with them.
The price in the future has to be higher so I am sure that I would make more money with them if I saved them.

I think that I would do the same thing because you know how much money you can make with that many Bitcoins, even if you sold them all right now then you would make much money.
But selling them all at once is not that good of an idea because the price can always rise so that you can make much money.

[Soros Shorts]

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 ?

500 bitcoins is worth around $325K. I would find buyers who can wire you the money straight to your bank account. Unless you live in a banana republic, nobody is really going to ask questions about $325K worth of incoming wires into your account. If there are any questions that are asked, it is usually the sending bank that asks the sender of the wire (the buyer), not you.

On the other hand making cash deposits worth $325K could get your bank account randomly seized by the IRS in the US.

[BitcoinHunt3r]

maybe same with the others, exchange to fiat little by little, or hopefully there is some online shop that allow bitcoin as payment maybe i can buy a lot of thing in that shop

[Hettinger]

I would sell them all at once and the then quit with Bitcoin because I can already make much money with it and I have no time o wait for the future.
It is not even if the future is going to give us want we want so I am not taking the risk then.

[greBit]

I would sell them all at once and the then quit with Bitcoin because I can already make much money with it and I have no time o wait for the future.
It is not even if the future is going to give us want we want so I am not taking the risk then.

Yeah 500 btc is a really huge amount to hold so I would prefer to sell half of them and convert it to fiat currency and invest that money in real life business and rest will hold for the future.

[Adriandmen]

You can also invest all that money into something. Like a dice site or something like that. A dice site seems to be a good cover up for all this. It looks like as if the 500 BTC is investment you made earlier and make great profit out of it. Of course, it would be terrible if you lost it all.

[takingthis4]

Slowly, around 2 BTC/month.

If you want spend more, do it in BTC alone, without intermediaries.

i would definitely not spend any of my bitcoins, i mean what is the point to spend that right now if it will be worth much more money in the future, i would definitely hold it for a while

[bittycents]

well selling it would be difficult and the wallet source address is traceable in the blockchain, so i will break it into portions. let's say 20 percent will converted into cash (slowly), 25 percent shall put-up a small profiting business to cover-up some issues on your source of income and other shaddy non-sense, 20 percent shall go to passive income investments, 20 percent will go to bank and the remaining 15 percent shall be kept and make it grow.

[allthingsluxury]

It would be best to not all sell at once, this goes for just about any investment position.

[romero121]

Having such a huge volume of bitcoin suddenly within your wallet is not at all possible. Due to luck one or two users get this possibility of getting such an amount. Also user easily becomes rich.