What to do with our new found wealth???

[Shenzou]

So many people jave been waiting for the bitcoin to reach thus mile stone for a really long time and in theorey all those people who have been saving thier coins and slaving to be able to get them for quite some time are going to cash out thier fruit of labor and paitence, but my geuss is after seeing how much bitcoin have progressed this year and they were able to get more than 1000% profit from it they will not even think about using it , instead they will probably just save it, and to be honest i don't blame them, so what are we going to do with our new wealth ?, the awnser would be nothing.

[randal9]

you need to grab the bull by the horns and embody your ideas in life, while bitcoin gives this opportunity...it is not known how long it will be able to give us such wealth...so we need to act now

[moonfrost21]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

You won't have a problem as long as your government doesn't have a law about having a million worth of bitcoin/cryptocurrency. But if something exists and it says that you earn a lot of money from an unknown source and you need to pay tax for it then you really have to do something about it.
So why not just think in advance and try to encash your cryptocurrency or bitcoin slowly?
It is like money laundering but the difference is that you got your wealth from a legal source.
Just don't make a big change in your bank accounts so that the government or the dogs of the government won't smell you. You will be very appetizing for a good amount of tax when they found out that you suddenly have a million wealth. 

[Jedie22]

our new wealth can be used for many good purposes...firstly to realize our desires, secondly to take care of the needy and also to continue investing in order to be confident in our future

We must use it in good ways. Proper handling of wealth we have and sharing the idea to others in that we can help each other to change life and the way we live. Have enough investment and keep it for the future use and future gain. The price is good enough to hold because it has more increase day by day that can give more profit to everyone.

I would say having a wealthy living can create good lifestyles and every financial will be solved that changes everything what we have. Investing a good businesses which is demand in the society to continue financial support. Security funds for future purposes of each memeber of the family. Lastly, helping to those in needs since having a good wealth is blessings from above that needs everyone to share and helping by having different outreach program that needs in the society.

[KKaruchis]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

In the way of making millions your find your way to laundry such an amount of money.

[BartS]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Since you are talking about a lot of money, in my opinion you should comply with your tax authorities, I know it sucks but it is better than to live your life looking over your shoulder, look for a lawyer and an accountant and explain the situation to them, if they are good they are going to find a way to minimize your taxes and then go forward, pay your taxes and enjoy your money without worries.

[upsidedown75]

Well if you made millions and wanna sneak it ... Without notice of any government official..then I would recommend i split it in parts... Send it to trustable people..and remember this the .. problem only arrises when you go forward to encash it !
Thus.. send it to trustable people and... Encash the amount that for government isn't taxable..

And do this over a period..of...time and I don't think there will be any problems with this..

Because encashing is the whole trouble nothing else...

Splitting into parts is really going to be one stressful move to make and depending on how trustable these people are and the money you are really holding, it can be crazy.

All the above, it is still a method and trying to stay outside the radar of the government without creating attention, any stress would be worth it. I really do not see much of a concern though as long as most government will end up taxing bitcoin transactions to fiat eventually anyway.

[User365]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Depending on your country I would recommend to just meet your bank and tell them what you did and what you want.

It is always better to just tax your profits and live with a bit less than keep it all and have to worry all time and might go to jail.

[Creating N Action]

Ofcourse we will use it for good. Bitcoin is future money that's why I will use it for my future as well as the future of my family. All the expenses of my family is I am the one that will pay and I will provide all the things they want such as food, clothes, house and lot, cars and especially gadgets so that they can also play bitcoin. I will look for other business that I want to purchase to continue gaining my own money. I will help the poor people to have a better life. Some people says that it will pay taxes then I will do it too to help the government.I will save it just for any emergency might happen.Keeping my money in my bitcoin wallet is safe that's why I am comfortable within. And I will share my wealth to my family to make them proud. And I will continue doing bitcoin so that it keeps my wealth.

[wuvdoll]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Depends on where you are, but generally it would be easy if you just converted your crypto to cold cash with face to face meetings. It would be hard if you need to transfer it to banks and it triggers some sort of AML or call to your government about it. Just stay under the radar through untraceable methods like cash. But to be honest, you should really consider doing it legitimately since it could cause you a lot of problems in the future anyway especially if it would amount to millions.

That is a solid point. And with some P2P exchanges like localbitcoins, this is something that can be achievable instead of making use of the direct exchanges that is being controlled by the government.

I really do not see a challenge here as long as one is not doing any shady deals to get the bitcoin and the good thing is that all your previous transactions and dates can be tracked by you to give explanations of where your wealth came from just in case it warrants any questioning.

[Lorence.xD]

I honestly have no idea. I think you will be confined to face to face transactions so that you do not leave any trace. Exchanges are out of the question anyway. How do the cyber criminals do it anyway? I bet you would find your answer there.

We can have so many things to use bitcoin to. Some of these are good and some are bad. We all know that all of us use it for our satisfaction such as new things that we don't have in the past but after this so called 'new found wealth', we are able to attain it, we are able to reach it. But also on the other side, there are criminals who used it to bad things and we don't know what are those. Maybe buying slaves, killing people and others. But the good things is, it will help us majority that needed it for good.

[kumar jabodah]

When you earn a million in crypto, it is certain that many people will have an interest in you. So do not talk about it to others, especially if you have millions of holders. Of course many people are crazy and this may even be the reason for the authorities to know it. You can just get a case of money loundering here. You should probably do it without withdrawing it completely. So you can not guess

[Babylon]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Save it for the future. Invest it or put it in many basket. Don't put it in one account as it may be questionable by the government and might ask you a large fee.

[olushakes]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

For the mere fact of staying in a corrupt country points to the direction as to why you must stay under the radar because the moment law enforcement agencies got wind of your luxurious life style, they just conclude that you are doing something illegal and use that as a means to extort you. Its even much better in advanced countries all you need to do is to pay what is due to government and you are good.

In this case, what I would suggest is to do a gradual conversion not more than what you will need and try invest in other areas instead of spending everything that could attract attention.

[aervin11]

Heres the things you should consider ;

Cashing out Million on 1 transaction would make some noise. So you need to strategize this : *If you divide it's parts before converting to fiat it is still affected to change of prices here in crypto industry. *Limitations on which site are you converting. *Banks have the rights to know where your funds came from so you'ld lose your anonimity.

[queenhallmark]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Firstly get yourself a good lawyer and they should be able to do most for you. You can always try spending bitcoins as a way to draw them down, or move to a different country and withdraw it there where the government may be less corrupt.

The wealth is bitcoin for me, and I am doing very well with it. I very hard working with bitcoin and bitcoin give me very high benefit at the time when I was needy. I am doing love with my new founded wealth (bitcoin) I worked hard with bitcoin and earn a good amount every week. So keep work hard with your new founded wealth (bitcoin) and it will give a good amount every week.

[cr_liev]

I have the same question and am trying to find the way out. First decision is to split the amounts between different banks accounts when you sell your crypto for fiat. I'm thinking about using virtual cards like Payoneer. Anyone knows anything about them + crypto?

[Lock00Live]

There should be a proper investment strategy for this crypto market. It should not be because of the strong growth of the market and the use of all its assets to invest in it, the crypto market is so small that it is vulnerable and influenced by many factors. That will affect your property if invested improperly.

[Kidmat]

Here in my country some banks a hindrance to received cashout from online currency like bitcoin. Because they are keen on those illegal activities doing from an online. So the best thing to do with your wealth is when you cashout or convert into fiat with limits daily.

[ramgonzales]

Breaking it down to small transactions would be an option. It's going to be a tough call depending on which country you're in. There are banks who would be more than happy to blow the whistle on you should they see a sudden spike in the money that you're putting in and getting out.