Which Bitcoin amount could be the max to exchange to fiat?

[audaciousbeing]

Maybe this is a bit phylosophical topic, but the other day I was wondering at which Bitcoin amount it doesn't matter anymore if you're getting more Bitcoin, since you can't exchange it to fiat.

Example:
At the current price of app. 4500 $ per BTC you can exchange to fiat:
100 BTC = 450.000 $ / no problem
1.000 BTC = 4.500.000 $ / a bit of problem
10.000 BTC = 45.000.000 $ / a problem
100.000 BTC = 450.000.000 $ / a big problem
...

See where I'm going? And that's at the current price. I could get even more interesting when the price will be 10.000 $ per Bitcoin or even more. 

How do you exchange 45M$? or 450M? So does it make any difference if you hodl 10.000 BTC or 100.000 BTC, since you can't exchange it to fiat anyway without raising suspicion, even if you're very well connected?

What would be the breaking or maybe maximum point of Bitcoin still exhangeable to fiat?
What's your take on that?

I for one would not want to withdraw that amount at once because over here there is a law that is even obvious in the banking hall that any transfer of an higher than the equivalent of $10,000 (which currently is not even up to 3 btc) should be reported to the authorities and there is no way cashing out such amount won't involve the bank.

Since I don't have the energy to give explanation after a ban would have been placed on all banks account connected to me and shut out of the resources I own,  then its better to avoid trouble all together.

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[Duzter]

I haven't come across lot of bitcoin exchanges. But I have started using localbitcoins for the conversion of bitcoin to fiat through different traders who have been listed to the trading page. Here I have found traders with millions of USD that can be provided for the users who exchange bitcoin for fiat.

[batang_bitcoin]

How do you exchange 45M$? or 450M? So does it make any difference if you hodl 10.000 BTC or 100.000 BTC, since you can't exchange it to fiat anyway without raising suspicion, even if you're very well connected?

What would be the breaking or maybe maximum point of Bitcoin still exhangeable to fiat?
What's your take on that?

First I understand your point that on how are we going to convert those in fiat and let the exchange grant our transaction. As for the exchanges,local or not here in my country the local exchange does implement daily limit so you can't really cash out that big amount. You need to be patient by cashing it out a little by little.

[sebr1ng]

Agree, you can't trust the exchanges 100%. And of course it would also hurt the price.

[davinchi]

There's no limit when you want to exchange your bitcoin. But remember that the government always eyes on those who has many liabilities and properties. And they will imply tax on your properties. Sometimes it really better if you just cashout small amount from your acct.

No, there is always a limit. Let’s take for example– Mr. John has an account in Unity Bank, and for five years the highest amount he’s got paid is $5000. If he exchanges Bitcoin and gets $450,000, that will be suspicious. So there is a limit.

[South Park]

Maybe this is a bit phylosophical topic, but the other day I was wondering at which Bitcoin amount it doesn't matter anymore if you're getting more Bitcoin, since you can't exchange it to fiat.

Example:
At the current price of app. 4500 $ per BTC you can exchange to fiat:
100 BTC = 450.000 $ / no problem
1.000 BTC = 4.500.000 $ / a bit of problem
10.000 BTC = 45.000.000 $ / a problem
100.000 BTC = 450.000.000 $ / a big problem
...

See where I'm going? And that's at the current price. I could get even more interesting when the price will be 10.000 $ per Bitcoin or even more.  

How do you exchange 45M$? or 450M? So does it make any difference if you hodl 10.000 BTC or 100.000 BTC, since you can't exchange it to fiat anyway without raising suspicion, even if you're very well connected?

What would be the breaking or maybe maximum point of Bitcoin still exhangeable to fiat?
What's your take on that?

The few that have those problems, the whales, are not cashing out, I think they are waiting for the day they can buy stuff with bitcoin directly, if I remember correctly some markets of luxury good for bitcoin have been created so you could use your bitcoin to buy those and then sell them if you want fiat.

Whales mostly never do saving like middle class people. They will choose the right option to invest the money in the proper channel for their money to work for them. Therefore, bitcoin is best channel for them. Most of the whales started invest and create a own gambling site to get all bitcoiners money easily without big efforts. In gambling always gambling site is winner since they have a daily winner or anything.

But while they are earning more bitcoin and that is always good, they are making the issue of cashing out even larger, by having and operating a bitcoin casino you are only getting more bitcoin not fiat, so it will be very difficult to turn all your coins to fiat immediately so you need to think of another way to do that if you were a whale.

True maybe it would be much more easier to cash out small portions of money, rather than to cash out a big ammounts. Also tax comission can enter your house if you will start getting huge ammounts of money on your bank account

But for a true whale someone with a lot of money in bitcoin that is going to take forever while regulations and taxes are a pain if someone has tens of millions of dollars worth of bitcoin that he acquired legally then it could be a good idea to be open about it pay his taxes and enjoy his money without a worry.

[sebr1ng]

That was my thought exactly - if you know you got it legally, than the only way to enjoy your wealth in full extent would be to exchange the desired amount, pay taxes and game on!
You can buy for example a car, computers, some travels with "un-taxed" money with no trouble, but you can't buy real estate without raising suspicion.

[South Park]

That was my thought exactly - if you know you got it legally, than the only way to enjoy your wealth in full extent would be to exchange the desired amount, pay taxes and game on!
You can buy for example a car, computers, some travels with "un-taxed" money with no trouble, but you can't buy real estate without raising suspicion.

Correct, even if at some point bitcoin is accepted everywhere and you ca buy whatever you want, if you want to buy something expensive like real estate, the government is going to realize you are buying a house with bitcoin and are going to come to try to collect their share.

[Wipro]

That was my thought exactly - if you know you got it legally, than the only way to enjoy your wealth in full extent would be to exchange the desired amount, pay taxes and game on!
You can buy for example a car, computers, some travels with "un-taxed" money with no trouble, but you can't buy real estate without raising suspicion.

Many people are saying bitcoin is being illegal in their country but they does not give any announcement about bitcoin is illegal in any country, china is exception. So we can utiize the bitcoin without any issue. If you exchange your bitcoin with the trader, finally he transfer the money via internet banking only. Then it should be consider as legal only.

[KuromaYoichi]

Why exchange to fiat? with more adoption you can spend your bitcoin without exchange it to fiat. The problem right now is there's not many merchants who accept bitcoin especially in developing country but if bitcoin is already big and popular, you can buy anything with it as everyone will accept it as form of payment (except in the country that banned bitcoin).

[boyshx]

Yup with that kinda money there will be FBI standing outside your door knocking you down! That's huge money and even Wall Street was shook once when wolf was barking! The money is too much in terms of fiat and that should be converted very carefully. May be a small amount at a single time and another small in the another week or so on. Then you might be able to convert it all over a period of year or two which is still good as millions of dollars is not a joke.

[sebr1ng]

Many people are saying bitcoin is being illegal in their country but they does not give any announcement about bitcoin is illegal in any country, china is exception. So we can utiize the bitcoin without any issue. If you exchange your bitcoin with the trader, finally he transfer the money via internet banking only. Then it should be consider as legal only.

Correct, even if at some point bitcoin is accepted everywhere and you ca buy whatever you want, if you want to buy something expensive like real estate, the government is going to realize you are buying a house with bitcoin and are going to come to try to collect their share.

With wide acception it eliminates the need to exchange to fiat - that is cool, but the problem with the source of wealth re authorites is still there. So for smaller day-to-day amounts you can do without announcing it to authorities (like people already do now with afternoon work) and for bigger amounts it is better to announce to avoid troubles with men in black 

[kiloiko]

The truth is there is no limit on exchanging bitcoin, but you have to consider that Government is eyeing on those who has larger assets and properties. It would be suspicious if you exchange large amount, the wisest way is to cash out small amount without cathching attention for you to become suspicios. So if you really desire to cash out to its maximum, just pay the right tax and the government would not bother you

There is as such no limit of cashing out bitcoins but as you said, try not to cash out large amounts because then you will be under strict observation. Big amounts are going to make governments and other authorities very much suspicious about you and you may be charged heavily in the name of tax as well.

[sebr1ng]

Yep - easy does it, in this situation it's especially true

[zzSunZZ]

Yes , this op is dreaming about future of bitcoin with a full-filling with money. But it can be happen if Bitcoin core updating and improving more to become a real currency that can become international. Happen or not ? That's still what we(bitcoin holders) want . Till that day comes, bitcoin still have to through every single problems.

[South Park]

That was my thought exactly - if you know you got it legally, than the only way to enjoy your wealth in full extent would be to exchange the desired amount, pay taxes and game on!
You can buy for example a car, computers, some travels with "un-taxed" money with no trouble, but you can't buy real estate without raising suspicion.

Many people are saying bitcoin is being illegal in their country but they does not give any announcement about bitcoin is illegal in any country, china is exception. So we can utiize the bitcoin without any issue. If you exchange your bitcoin with the trader, finally he transfer the money via internet banking only. Then it should be consider as legal only.

I always take what people say with a grain of salt since their sources most of the time are facebook and their hunches, especially when we are talking about a topic in which I have a lot more knowledge than them, someone tried to same the same thing to me and then I asked to him if he knew what was the blockchain, he look at me with a puzzled look and thats all what I needed to know about the value of his opinion.

[gabmen]

This would probably pose as a big problem for people who would manage to accumulate that much btc in their lifetime. I mean i won't have that much bitcoin even if i get lucky several times continuously. I think wallets would have issues holding that much amount at the same time

[rocketbits]

The truth is there is no limit on exchanging bitcoin, but you have to consider that Government is eyeing on those who has larger assets and properties. It would be suspicious if you exchange large amount, the wisest way is to cash out small amount without cathching attention for you to become suspicios. So if you really desire to cash out to its maximum, just pay the right tax and the government would not bother you

There is as such no limit of cashing out bitcoins but as you said, try not to cash out large amounts because then you will be under strict observation. Big amounts are going to make governments and other authorities very much suspicious about you and you may be charged heavily in the name of tax as well.

You are very much right. You need to be very careful about the Government and you should take necessary steps in case if it becomes legal then. I think you can keep as much amount of Bitcoin as you want, but you have to play very wisely then. You first need to make a proper planning before buying the Bitcoins like what to do next.

[Aba]

Good description.! but whether is  necessary to exchange the bitcoin into fiat currency with the amount you describe. Because now there are many payment systems that adapt bitcoin. And by letting our funds in the form of bitcoin provide benefits because of the higher bitcoin prices can be a long-term investment

[davinchi]

Good description.! but whether is  necessary to exchange the bitcoin into fiat currency with the amount you describe. Because now there are many payment systems that adapt bitcoin. And by letting our funds in the form of bitcoin provide benefits because of the higher bitcoin prices can be a long-term investment

That’s for you, I will prefer to be withdrawing my Bitcoin to Fiat whenever I feel it’s the right time to do so and there is no amount that should be regarded as max amount when it comes to withdrawing your bitcoin to Fiat.

It all depends on bank account, you know how much that comes into your account regularly, do you should maintain the same level of amount to avoid suspicion from bank which may lead to them blocking your account. If you’re getting billions into your account regularly, then there is nothing wrong with $450 million dollars.