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Author Topic: So if I wanted to cash out 10,000 BTC where would I do that?  (Read 945 times)
reactive4ce
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April 05, 2013, 09:55:52 PM
 #21

Doesn't mtgox have a 100btc/$1000 limit per day

On withdrawals, yes. You can sell all your BTC at once, and then withdraw $1000 every day for a long long time.

Well the fees would be huge, and I believe if you did just few such right under $1000 withdrawals in one week, your account would be frozen and you would have to validate - you know these anti terrorist/laundering laws...
casascius
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April 05, 2013, 10:03:52 PM
 #22

If I had 10k btc I wanted to cash out, I would post an offer to sell it in exchange for a wire transfer.  I'd offer a notarized agreement to deliver and to use an escrow of the buyer's choice.

This method works.  Done it in the past (when 10k btc was worth much less).

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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