If you had suddenly 500 BTC

[bitcircle]

That is my dream to get that very huge amount for me so that it will be really great to have 500 BTC suddenly without any reason, surely this will make my life more smoother comfortable.

[hasiramasenju]

honestly if this is happened to me i would convert all of my bitcoins into my local currency and i would invest all of my money to physical investment such as buying houses, or buying land for my future investment because in my country invest for those property is very profitable and land or houses prices will increase every year

[carlisle1]

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 ?

Lol I don't need to transfer it to my bank account maybe I would buy anything with that or sell some it whenever I need extra money 500btc is too much for an ordinary people he can't spend all of it in just one day , a week , or a month . I guess people would confused about where they will put theor momey .

[newcripto]

If somehow I had this much money in Bitcoin to be honest without wasting of time will sell a larger part of this sum. I will buy invest in real estate to use them as rent to have a permanent source of income. Bitcoin in my opinion has reached where it could be with some percentage of plus/minus. I will hold just 20 Bitcoins out of these 500 Bitcoins for long term.

[extrabyte]

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 ?

What I would do is like this: Invest in few altcoins, invest in some new ICO that are/will be releasing nowadays, the rest I would spend buying a new house or flat then the next investment would be a normal car and the rest of this I would continue holding them for an undefined time.

[beerlover]

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

That's actually a problem I see for most people. I'm not saying it's a bad thing but I somewhat pity those who think like that.

What's actually the point of earning bitcoins and forever holding it in? I mean, you don't necessarily know when it will be at its highest price. So rather than holding them all, I spend around 50% of my total monthly bitcoin earnings.

It's just an opinion. It's all about personal preference after all.

[Hueristic]

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 ?

Make a large purchase Like a New beemer and refuse to buy it unless they start accepting bitcoin.

[AioFox]

Deposit 0.1BTC in a gambling site; put it on autoplay for dice; forget about by mistake as i play my video games. I realise after 5hours of gameplay; check the gambling site quickly hoping i didn't lose it but omg i got 500BTC wooooo XD. i give 1BTC to 10random users on the site because i would be so excited then buy all the games on my wishlist; then keep the rest for anything that i would need

[Cresciuanto]

mmmm i think i can only expect it. but very difficult in real life. i think it will change my whole life. it can solve my big big issues about which i usually thinking. which i have solve in future.

[Piltover]

mmmm i think i can only expect it. but very difficult in real life. i think it will change my whole life. it can solve my big big issues about which i usually thinking. which i have solve in future.

Of course it will change your whole life due to the fact that 500 bitcoins is so much money it would be insane in my eyes.
I think that I would jump in the air, like nobody care... I than could do what I want!

[klach]

i will just withdraw some of the amount every month and deposit to some account in a bank and then when i they ask me i will tell him that i was saving some money every month from my salary

[wintermeasures]

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 ?

For your convenience, if you want to convert it into a fiat 2-3 BTC per convert i think it safe. because sure enough if you melt my country 500 BTC on a deal it will be a public debate which is endless, your life will not be quiet. Thank you

[andrew24p]

I would sell it in bulk to someone reputable. Still going to have to pay capital gains tax on it though. No way of getting away with it unless you keep it in bitcoin or go the illegal route which isnt worth it.

[hermanhs09]

I would sell it in bulk to someone reputable. Still going to have to pay capital gains tax on it though. No way of getting away with it unless you keep it in bitcoin or go the illegal route which isnt worth it.

Haha,im pretty sure many people at this forum would say that it is actually worth it but personally,
i agree with you.
But you know that selling about 500 bitcoins in short frame of time would make it price go down a lot?
It would start a panic selling,people dumping coins like crazy.
By the way getting tax on bitcoins,sucks

[Irn-Bri]

I'd buy gold from JMB keeping transactions under $10,000. I'd sell half the gold locally for cash and keep half in gold. Every week I'd deposit a few thousand in my bank, hold cash and gold too. You cover a lot of bases that way. Even open up a few safety deposit boxes.

[DoomDumas]

Simple,

1: 400 in encrypted cold storage

2 : buy a Tesla model S with BTC (Hope Tesla still accept BTC) arround 50 BTC today

3 : +/-50 to spent as BTC for goods and trade some for the fun of it

I would stay at work for fiat need, sadly, we still need some to survive.

[BossMacko]

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 ?

If i will be able to have 500 Bitcoin someday. I will not convert it all to flat money. I will only convert some of the Bitcoin when i need to pay something using flat money. In the future i am sure that many online shop will open and they will integrate Bitcoin as one of their currency. And because i had 500 Bitcoin in that day i can buy anything i want in any online shop that accepts Bitcoin as payment.

[eternalgloom]

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 ?

If i will be able to have 500 Bitcoin someday. I will not convert it all to flat money. I will only convert some of the Bitcoin when i need to pay something using flat money. In the future i am sure that many online shop will open and they will integrate Bitcoin as one of their currency. And because i had 500 Bitcoin in that day i can buy anything i want in any online shop that accepts Bitcoin as payment.

I also think this would be the best option... I would keep the majority of those Bitcoins and just exchange low amounts for fiat or use a Bitcoin debit card for off line purchases.
You should see it as a very good investment towards the future.

[Ardenyham]

I don't think that I could suddenly get that much btc some days. because I don't feel my self a lucky person. and these things are 100% depends on luck. but if I got that ammount. I'll transfer them time to time and low amount of btc.
and good thing is I have a side business so I can answer peoples who ask me about these too much money.

That is my dream to get that very huge amount for me so that it will be really great to have 500 BTC suddenly without any reason, surely this will make my life more smoother comfortable.

and then how you redeem them? and what clarification you give the peoples, neighbors, relatives and possibly the police? lolzz

[serjent05]

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.

I hear you   But op is assuming that IF you have suddenly 500 BTC  in your wallet address.

Anyway,  you can spend it little by little, you don't need to encash them right away.   There are several ways actually but putting up a small business then eventually making it grow (thru your continous withdraw of your BTC and fund it)  will at least take the suspicion away.  You can declare all the accumulated assets and give tax to the government.