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Author Topic: I have around 8000 BTC,but my country are too small cap to cash out  (Read 1336 times)
rartokens
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February 18, 2018, 02:16:18 PM
 #81

this only good for discussion. please don't fall for this guy.
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February 18, 2018, 02:22:59 PM
Merited by Parodium (1)
 #82

So,  for 50 btc, I will give it a go.

If i where you i would try to go on a big market where you can actually spend that much money.

I do not believe you can cashout 8000 btc in one day, this process will  take month. This is not so much because it is hard to cashout, but because you went from "normal guy" to "extremely rich" and you do not know how to navigate in those water. You have to learn and to find helpful people which needs trust, which needs time.
Your main problem is to have a bank account and an exchange account in a country where the marketcap is very high.
If you go through a broker you will still need to get a bank account in a country that is not yours.


My solution is the following :
You have so much money you can buy yourself a new citizenship. This is also a gift for your childrens as they will have 2 different citizenship giving them much more flexibility in the future.

I would choose either Malta or Switzerland.

Malta
Malta gives you EU citizenship which in turn gives you the possibility to live anywhere in EU.  On the downside, you will have to pay the 30% flattax  on your capital gain. Go and check this page for information
To get citizenship, you have to :
-> pay 650 000$ to the government
-> Buy 350 000$ worth of real estate ( and keep it 5 years)
-> Buy 150 000$ worth of malteese investment
check here for more details http://www.maltaimmigration.com/

Which mean, you have to first cashout at least 1 150 000 $. I belive you can do it in your country.
Note that after this process that can be done in 3 month, you will already  to sell bitcoin for € and transfer it to yourself.
Then they will give you a eResidence and you then have to live 1 year in Malta, After a year, you will be Citizen of Malta and the EU. You can easily extend this citizenship to your wife and kids.
Citizenship canot be removed from you, which mean this all process is a lifetime bonus for you and your kid.

Cashing out in Malta might force you to pay the 30% flat tax. Depending when you do it, you might still be fiscaly in malaysia and thus pay 0% tax. But you have to  (triple) check this out.

Switzerland
Switzerland is not so straightforward to get as Malta, BUT the taxes are much lower (1% or less).
I am much less aware of how to achieve the same thing but i am sure it is possible. Switzerland is a federal country, which means it should be considered as various little country, and the process/ tax might depend on the "canton" you actually choose to live. Genève or Zurich will probably be the best choice.
The process to actually get citizenship will need you to live in switzerland much longer  (6month+/year for 12 years) . But you will get permanent visa fast and be able to cashout easily.

I would choose Malta if you do not care of paying 25 000 000 in tax but want to go back quickly in Malaysia. Otherwise i would choose Switzerland.

Regarding forkcoin
Do not forget to cashout your altcoins! Bch/bcg/btx/... /bcd( last !)

Other option
You can alternatively create a company in a big marketcap country ( never forget taxmen) and sell your bitcoins to a bank account belonging to this company. That would secure your exit price. But then will come the question of how to legally use this money that now belongs to your company...






The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions

Satoshi Nakamoto : https://bitcoin.org/bitcoin.pdf
bitfocus
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February 18, 2018, 02:23:28 PM
 #83

another scammer!
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February 18, 2018, 03:34:10 PM
 #84

cashing is easy. taxing is difficult. that's why you need financial adviser to do the magic.

Here in my country it is very easy to cash our bitcoins.  I do not know if it is legal but it is seems like that.  Bitcoin can be encash on banks and other remittance center.  If you have that big amount of btc, why would you cash it all out.  Why not just reserve some.
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February 18, 2018, 03:39:03 PM
 #85

The simplest way to do it is to send the BTC to someone else in another country, and pay them a fee for their service.

I live in the UK and can provide this service for you, we can start off with small amounts, I'll use my localbitcoins.com account and you'll pay me a small fraction for my effort.

This will be much cheaper than the capital gains tax you'll face elsewhere.
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February 20, 2018, 02:07:10 AM
 #86

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.

——————————
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.







wow! That so many bitcoins. Im sure if you just said are true then your bitcoin wallet have one of the biggest bitcoin funds. Well congratulations! but if you already cashout the bitcoin into fiat, once your government found out that you have that such wealth. Goodluck to your tax Cheesy

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February 25, 2018, 03:37:54 AM
 #87

If i where you i would go to Vanuatu. Google this: "Bitcoin May Now Buy You Citizenship in One of the Happiest Countries"
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February 25, 2018, 05:06:37 AM
 #88

omg,
 u r in really very good position because u have 8k btc
i give u advice go another country .....
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February 25, 2018, 01:45:12 PM
 #89

If it is in China, I suggest you find some large dealer exchanges instead of exchanges, because the amount of money is too big to cause a lot of volatility and safety issues.

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May 28, 2018, 11:29:30 AM
 #90

What have you taken offense?!
I apologize.

Write to Alex_Mainer Telegram

I have a buyer he is ready to make bank transfer.
After the translation 1satoshi as confirmation of a purse
hh4mmm
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May 28, 2018, 11:45:54 AM
 #91

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.

——————————
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.




well that is nice, to me what i will do is that i have to travel to another countries like Nigeria were they have alot of trading volume or you can hook with a guy that from different country that will assist you out with it. there alot from friends here in this forum that equally help you out. but you can pm i have a possible way of helping you out.
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May 28, 2018, 12:09:10 PM
 #92

is it a real bro? you have 8000 bitcoins right now? i think if you want to sell you can sell it in another country, and i think you can go to that country, sell your bitcoin, and holiday with that bitcoin. congratulations bro because of your bitcoin


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May 28, 2018, 12:33:44 PM
 #93

wow congratulations bro,
i new in here bro,

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy
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May 28, 2018, 12:44:36 PM
 #94

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.
Why must he need to give that address?who are you for him to be obliged?

OP if youre really have that big bitcoin amount in your wallet,better move to singapore or other asian country like Philippines so you can withdraw that amount and live your life to the fullest.

Anyway congratulations

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May 28, 2018, 01:00:41 PM
 #95

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.
Why must he need to give that address?who are you for him to be obliged?

OP if youre really have that big bitcoin amount in your wallet,better move to singapore or other asian country like Philippines so you can withdraw that amount and live your life to the fullest.

Anyway congratulations

So you can cash out 5 Billion in PHP in a third world country? Was this done before?
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May 28, 2018, 01:10:19 PM
 #96

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.

——————————
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.







when I am in your position, I will try to move to another country that can make a sale with a large volume, or I will remain in that country by making sales in stages with small stages every month.
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May 28, 2018, 01:13:18 PM
 #97

Right now you do not have to withdraw them as right now the price is lower and in the coming months the price of this coin will increase much higher than at that time it is possible that people in your country also have joined on a large scale and you will easily withdraw any amount you want.
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May 28, 2018, 03:36:28 PM
 #98

That is incredibly huge. You just can't cash out that all at once. Do it portion by portion. Although i highly recommend sir, that you just encash about 50% of your bitcoin. Leave the remaining for your kids future. I'm just saying.
Go out to other country where bitcoin is not banned and cash out a small portion of your bitcoin. Then fly out again to another country and do the same. I suggest that when you do this tag along the whole family. It will be a double purpose, for cashing out and treating them for a vacation. This way everybody is happy.

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May 30, 2018, 05:37:14 AM
 #99

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.

——————————
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.






No doubt bitfinex and coinbase are two big bitcoin exchanges and these two exchanges can help you to find cast out your money but for that you need us citizenship , I think your idea of opening bank account in us is good , you can cash out your bitcoins in this way but I have another alternative for you, you need not to sell them all at once, sell them in parts and moreover this time the valuation is also not that much high so for now sell a part of them in Malaysia only and hold the remaining for the future may be conditions will be different in the future.
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May 30, 2018, 06:36:23 AM
 #100

Whatever advice you decide to follow, DO NOT sell all those coins at once, for the following reason :

1. 8000 coins sold on a single exchange, will trigger a panic affect and it will crash the price.

2. If someone is trying to scam you, you do not lose all your coins in one scam. <Do small test transactions at first and then gradually increase the amounts per sale>

3. If you have full access to the private keys of these coins, then you still have millions of dollars worth of free forked coins to sell.

My "Spider" senses are telling me that this is a scam, but I still want to protect a legitimate seller, if they are clueless about the impact of this decision.  Roll Eyes

.
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Dice Duels
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