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Author Topic: I have around 8000 BTC,but my country are too small cap to cash out  (Read 1157 times)
wongjack
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January 06, 2018, 08:44:06 AM
#1

Guys,

I'm from Malaysia,and I brought 8000btc when many years ago(and glad that I still have found back).

I'm looking for cash out all the btc I have own now,it is about 100 million usd fund,but I don't think my country market have support that huge of volume,I do my research found that exchanges in Malaysia are really small,big exchanges like only bitfinex and coinbase can support that much of volume,but it can't use their service in Malaysia,and I'm not US citizen.I don't know what to do now.

I'm really frustrated knowing I own that much of money but I can't cash out due to my country is not popular with this coin,any suggestion for me? Whoever can help me solve my problem I promise to gave him 50btc after I manage to cash out.A man will keep his word.

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updated: 6.1.2018 4:54pm

what country that can support 100 mil usd withdrawal?

I'm actually have thinking about open an US bank account,but I'm not sure whether I can withdrawal that much of fund from exchanges to my bank account or not.

I actually don't mind paying tax fees to US or Malaysia gov whatever,I just want to have a cash out plan.





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bitperson
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January 06, 2018, 08:49:40 AM
#2

Dude, congratulations. Can you take your bitcoins and move to another country?

Edit: to anyone who considers assisting the OP, beware of the potential for advance fee fraud.

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Blowon
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January 06, 2018, 08:52:35 AM
#3

I'm from Malaysia,and I brought 8000btc when many years ago(and glad that I still have found back).
It's not joking right? Let me us know your address were funded 8000BTC. if you able to given a proof by sign message so congrats, you're one the most lucky on this planet.
There is many way yo make your money be fiat money. I just trying with keywords " Exchanges in malaysia, so i got refference : https://www.buybitcoinworldwide.com/malaysia/ " I see a popular exchanges those listed. did you trying? You can do for daily withdrawal for max limit.

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tegarp90
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January 06, 2018, 08:55:05 AM
#4

you can go to another county that have big caps if you really had 8k btc and live there happily forever

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howtobuy
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January 06, 2018, 08:55:16 AM
#5

If you are not scam (which probably you are) please get in touch with me.
junrecana
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January 06, 2018, 08:58:27 AM
#6

then if have that lots of btc and malaysia can't afford to cash out all that btc then try to another country or try not to cash out all only the capacity of your country
hyperdallas
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January 06, 2018, 08:59:51 AM
#7

id probably make a plan to contact Gemini - and see if they are interested in buying that large volume. If and when you take a trip to their offices to sort it out. Other than that i really doubt you can sell that large volume without any bullshit happening.
aplistir
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January 06, 2018, 09:12:17 AM
#8

can you let me know which country can do withdrawal for 100million usd fund?
I really don't mind pay 50% tax to gov or whatever,I just want to cash out.

is US legal for 100million fund withdrawal?how much taxes I need to paid for that?


The worst case is that you will have to pay taxes to 2 countries. Your own and the country that you sell them in.
That could happen if your country does not have a tax agreement with the 2nd country.

And of course it is legal to withdraw money. Could be difficult to get that much cash though.

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January 06, 2018, 09:27:12 AM
#9

Even in the U.S. you wouldn't be able to withdraw it all at once either, although caps are larger. That's not a criticism on Bitcoin that's because our systems are so flawed. So I suggest just keeping the Bitcoin and keep withdrawing your cap ever week or month. You'll probably enjoy seeing your Bitcoin grow in value over the years anyways. And who knows I bet with time your country will learn to adopt Bitcoin faster.

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bjbear123
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January 06, 2018, 09:31:41 AM
#10

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

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hyperdallas
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January 06, 2018, 09:37:24 AM
#11

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

Could do this create a company there, then sell to Gemini.

But like i said he should at least get a hold of them, then setup a plan with them in terms of being able to sell that such large volume, Gemini and lawyers to set up a company in where ever is Malaysia friendly county that deals with Gemini.

Only reason i say Gemini is that its the twins, not random idiots who all run the other exchanges.
bjbear123
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January 06, 2018, 09:38:03 AM
#12

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

I would also say Kraken is the way you could sell bitcoin quickly you can sell $500,000 a month when you verity your account to Level 4


Could you sell us Bitcoin at a slightly reduced rate, im sure many here would love to top up their holdings

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hyperdallas
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January 06, 2018, 09:39:28 AM
#13

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

I would also say Kraken is the way you could sell bitcoin quickly you can sell $500,000 a month when you verity your account to Level 4

But also, they can freeze account at anytime and then good luck getting a-hold of them lol.
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January 06, 2018, 09:40:37 AM
#14

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

I would also say Kraken is the way you could sell bitcoin quickly you can sell $500,000 a month when you verity your account to Level 4

But also, they can freeze account at anytime and then good luck getting a-hold of them lol.

I would probably do it on Coinbase, a verified account can do $20,000 a day, so just transfer 20k a day and withdraw it every day

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January 06, 2018, 09:44:11 AM
#15

Why not make small cashouts? I think having 20k usd is enough. You cannot spend that 100m usd in a day. Anyway, congratulations.

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January 06, 2018, 09:46:09 AM
#16

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

I would also say Kraken is the way you could sell bitcoin quickly you can sell $500,000 a month when you verity your account to Level 4

But also, they can freeze account at anytime and then good luck getting a-hold of them lol.

I would probably do it on Coinbase, a verified account can do $20,000 a day, so just transfer 20k a day and withdraw it every day

I can see if he can even get that fully verified on coinbase, i don't think so being the country he is in. Once he sells for x amount of days they probably will shit him down or freeze to inquire wtf is going on lol.
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January 06, 2018, 09:49:09 AM
#17

I would presume one of the cheapest places to sell the BTC would be the UK, I believe you would pay CapitalGains on the sell and it will be 28%

https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances

I would also say Kraken is the way you could sell bitcoin quickly you can sell $500,000 a month when you verity your account to Level 4

But also, they can freeze account at anytime and then good luck getting a-hold of them lol.

I would probably do it on Coinbase, a verified account can do $20,000 a day, so just transfer 20k a day and withdraw it every day


Thanks everyone for the advice.Contact Gemini or other for big exchanges private deal should be the best idea so far,

because I can't even get verified account on these exchanges,they only allow US citizen.

Best of luck going forward, would you consider selling small amounts to us in the mean time Smiley ?

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January 06, 2018, 09:50:37 AM
#18

I can not understand why you need to withdrawal such a large sum?
Generally I think that it is dangerous. Big money likes silence. I would put half or a third into altcoins, the rest of the sum was divided and put on a few (for example 10) cold wallets.
And I would invest in several ICO's in the banking sector, with dividends.
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January 06, 2018, 09:50:40 AM
#19

Try to use different exchange for your bitcoins. Whoah that's a lot btw. Use exchangers such as bittrex, binance, kraken and many more. Do verification for each and I am telling you, you can withdraw all of those. Using paypal I think and a bank in your country could do that. Just becareful with the transaction, you might copied wrong btc address.



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January 06, 2018, 09:53:20 AM
#20

A good idea might to be purchase 1000 DASH ($1 million ish about 90 Bitcoin) You get proof of Stake and will get 2 DASH per week as interest, you so just easily sell of the interest received roughly $6000 a month

This would be a good investment with your huge holdings of bitcoin   

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