If you had suddenly 500 BTC

[hermanhs09]

do that with the follow ways
1)small amounts 10btc on differnt bank
2)btc credit cards
3)look for your local bank limits (with a guy from inside the bank)
4)Why do you want to spent your btc in fiat at once ??

Probably i would buy anything,because i am rich right now right ?
Anyway i would take 200 btc to make more of them,investing somewhere or just trading.

[praprata]

If I had suddenly had that much Bitcoin the I would wait for the price to be at least $2000 so that I could become a millionaire.
That is the only thing that I would do with it because I would not have the patient to wait any longer.

[Dr.Osh]

do that with the follow ways
1)small amounts 10btc on differnt bank
2)btc credit cards
3)look for your local bank limits (with a guy from inside the bank)
4)Why do you want to spent your btc in fiat at once ??

Probably i would buy anything,because i am rich right now right ?
Anyway i would take 200 btc to make more of them,investing somewhere or just trading.

Well, I guess you're right. this time if you have 500 BTC in your wallet means is the one who said. You can buy anything with 500 BTC what you have. and may you have a very good plan, which invested 200 BTC or use it for trading. but maybe you're better off buying a piece of land, or a house, because it could be a good thing for you today and for the future

[johnjacksonbtc]

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 transfer 5$ to random bank account and add following in description field 'bought 500 bitcoin for 5$'.

[From Above]

If I suddenly had 500 BTC I would first send some portions to the friends of mine and then I would keep it in cold wallet. I would put 100 BTC aside for doing some of the nice things in life with friends and family.

~CfA~

[CoinFoxs]

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.

And if these 250 people will run away with your money then what would you do ? You don't even claim it that this is your money because you must tell them where you get that money...

[bitlancr]

I would sell them all because I would make allot of money with them and there is no reason for me then to hold on to them.
Waiting is only going to take and there are much better things I can do with that money.

[greBit]

I would sell them all because I would make allot of money with them and there is no reason for me then to hold on to them.
Waiting is only going to take and there are much better things I can do with that money.

Yup and price will not affect that much if you are holding 500 btc, its better to sell them off and invest that fiat money in some real life business and have fun with rest money left.

[kryptqnick]

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 think the most wise solution is to withdraw them partially using different cards

[Labumi]

I will wait until there are people who call me to confirm a BTC belonging to my Wallet. If it does not exist then I would do the things that make me happy and share some BTC I get to those who need

[PsursV]

I would sell them all because I would make allot of money with them and there is no reason for me then to hold on to them.
Waiting is only going to take and there are much better things I can do with that money.

but If bitcoin is illegal in your country then what will be your answer to the FBR that from where  you got these income. what about the income tax department. for me it is not too difficult because I am a former and can show the income from crops. but what will you do? how will you legalize your 500 bitcoin in your state.

[Amph]

i would build a 100 gpu farm at the very least in a good place with good cooling and everything to run it, i would earn like 2 btc per day at present...

[JumperX]

I will all my coins irrespective of price as 500 btc is too huge amount to hold and even if price is bit lower it won't make any difference at that stage.

[Bestwishes745]

Wow! that is a good amount,

I I get that amount and have to get withdraw that amount with an exchange to my bank account then I will provide the exact information to my bank from where I get that amount, because I will not get any amount of money illegal. so I will not need to hide the source of my income.

[lienfaye]

Thats alot of money well if i had that amount, i simply spend it to purchase something online, cashout some portion and hold some of it. its really questionable to have that huge amount so i cant cashout all of it.

[CoinFoxs]

If I had suddenly had that much Bitcoin the I would wait for the price to be at least $2000 so that I could become a millionaire.
That is the only thing that I would do with it because I would not have the patient to wait any longer.

For this you have to wait for at least 3-4 years, Would you wait for price increasing or invest your money in trading and other business from where you get profit ? Better is to use some money in trading or other businesses and hold some bitcoins for price increasing.

[gerXhonza]

Wow! that is a good amount,

I I get that amount and have to get withdraw that amount with an exchange to my bank account then I will provide the exact information to my bank from where I get that amount, because I will not get any amount of money illegal. so I will not need to hide the source of my income.

No doubt its not illegal but once you disclose it in bank then you need to pay taxes on it which are too high, better option is to convert it in cash on installment basis.

[RoommateAgreement]

500 bitcoin is a real huge amount, it is nearly 325,000 USD. i may be able to plan a very wise plan for a couple of thousand dollars and make a good profit but i really don't know what to do with that much bitcoin, and if it was in fiat form i still could have made some plans for 325K$ but not in bitcoin.

and btw my plans are all consist of starting my own business.

[romero121]

That's a huge amount. If I had such a volume of bitcoin, possibly I could have got a relaxed living without the pressure of earning to have a good living.

[Adriandmen]

I would be so happy if this would happen. You can do almost anything with that amount of money.

You shouldn't worry about banks though, just pay the taxes and anything will probably be just fine.