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Author Topic: Cashing out of large amount of bitcoins  (Read 6224 times)
Alonzo Ewing
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November 26, 2013, 07:01:28 PM
 #1

I'm anticipating cashing out of a large amount of bitcoins in 2014, yielding possibly >$10,000,000.  How do I do this?  I'm thinking Bitstamp won't be able to accommodate me.  Are there people on localbitcoins with this much cash?  Does the Bitcoin Investment Trust buy from regular schmoes like me?  Does anyone 'know a guy'?


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November 26, 2013, 07:57:56 PM
 #2

PM me when ready. I don't have that much now, but anticipating 7 digits in the near future. Would want to do it in person, with you coming to me, because I cannot fly with large amounts of cash. I would pay for your ticket one-way though.

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November 27, 2013, 12:03:41 AM
 #3

Just a question - how did you get $10,000,000 worth of bitcoins in the first place?
Please don't tell me you were the guy on the other end of the 10,000 Bitcoin pizza. >.>

And holy cow, good luck on taxes.
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November 27, 2013, 12:07:12 AM
 #4

Good luck. All of the exchanges seem shady, and I can't even figure out how to sell $50K worth without being deluged by messages from scammers who want me to send first.

Maybe by 2014 the scene will clean up some.
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November 27, 2013, 12:09:01 AM
 #5

Good luck. I can't even figure out how to sell $50K worth without being deluged by messages from scammers who want me to send first.


try "loaded" on this forum, he seems to have clients with large amounts of fiat

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November 27, 2013, 12:28:20 AM
 #6

Just a question - how did you get $10,000,000 worth of bitcoins in the first place?
Please don't tell me you were the guy on the other end of the 10,000 Bitcoin pizza. >.>

And holy cow, good luck on taxes.

I would have to think they bought really early and the Taxes will be non existant consider the whole point is CASH !! What I am doing when the time is right. I would take a lose on %, maybe even 10& to do a cash deal..
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November 27, 2013, 03:34:22 AM
 #7

I don't have $10,000,000 worth of bitcoins.  But given the 5-year trend in prices, I anticipate having that much in a year or less.  Of course, if we get a bear market, I won't have that much.  May have to wait a year or two longer than anticipated.  I'm just trying to plan for the future.  I don't see an easy way to cash out.

How did I get so many?  I make a very good salary, save every penny, and go "all-in" on investments when I believe there's good value.   I did that with BTCs.

Believe it or not, I've lost a lot more in bitcoins than I actually own.

Just a question - how did you get $10,000,000 worth of bitcoins in the first place?
Please don't tell me you were the guy on the other end of the 10,000 Bitcoin pizza. >.>

And holy cow, good luck on taxes.


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November 27, 2013, 03:49:03 AM
 #8

Believe it or not, I've lost a lot more in bitcoins than I actually own.
Amen brother.

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November 27, 2013, 04:09:35 AM
 #9

Im actually in the market for 50-60k in btc and would rather do a face to face. let me know when ur ready.
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November 27, 2013, 04:17:39 AM
 #10

Bitstamp or any exchange for that matter will be able to accommodate you, just do break it up into chunks to be sold over a period of time.

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November 27, 2013, 06:30:30 AM
 #11

Unless you are looking to substantially move a market index, why not just do what you would do with a real world large currency trade?  That is break into smaller lots and trade over time so that you get the best pricing.

Dumping any large trade on an indexed currency or commodity has a tendency to move the market down.  That's why big firms spread these transactions over time.

I'm anticipating cashing out of a large amount of bitcoins in 2014, yielding possibly >$10,000,000.  How do I do this?  I'm thinking Bitstamp won't be able to accommodate me.  Are there people on localbitcoins with this much cash?  Does the Bitcoin Investment Trust buy from regular schmoes like me?  Does anyone 'know a guy'?
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November 27, 2013, 06:56:51 AM
 #12

Make some friends who are in the check cashing business.
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November 27, 2013, 08:29:53 AM
 #13

The answer is simple: You do it gradually or wait for a time when a cash out that grand isn't considered to be so grand. I'm sure as BTC rise in values the market will accommodate. I imagine back when it was ~$0.20/BTC people struggled to comprehend how they would cash out $1,000 or $5,000.

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November 27, 2013, 11:12:59 AM
 #14

Believe it or not, I've lost a lot more in bitcoins than I actually own.
Amen brother.


u are not alone  Grin
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November 27, 2013, 11:47:52 AM
 #15

I am in the process of putting together a deal for someone wanting to sell 100+ bitcoins.

If anyone wants to buy large chunks please get in touch.

As for your issue - are you in the UK or US? It certainly can be done safely and securely. PM me if you would like me to help.

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November 27, 2013, 01:10:05 PM
 #16

I am in the process of putting together a deal for someone wanting to sell 100+ bitcoins.

If anyone wants to buy large chunks please get in touch.

As for your issue - are you in the UK or US? It certainly can be done safely and securely. PM me if you would like me to help.


Im looking to buy 50-60 btc. PM me if you have an offer.
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November 27, 2013, 02:29:31 PM
 #17

If I were in such a position as the OP, I would barter for gold.

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November 27, 2013, 02:35:03 PM
 #18

Exchanges best way to go for large amounts I would think

Imperfect paper trail but still a paper trail

Would hate to do a 1 to 1 due to security...

nah, you could meet in a public place in a corner or even a lawyer's office

the person selling bitcoins would have a password hopefully on the wallet, so unless they have
a gun to their head, it is safe

bigger threat is to the person buying - but I would take that risk, if worried about it you could
do a wire transfer with a lawyer present. only caveat there is that wires can be cancelled, so you
would want to hang-out together till you saw it in your account and you cannot do wires over
$500 without a hold from homeland security

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November 27, 2013, 08:12:08 PM
 #19

If I were in such a position as the OP, I would barter for gold.

This may seem like a stupid question but how do you avoid getting fake gold? There are all kinds of scammers.
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November 27, 2013, 08:59:56 PM
 #20

If I were in such a position as the OP, I would barter for gold.

This may seem like a stupid question but how do you avoid getting fake gold? There are all kinds of scammers.

buy coins only, the bars are where they usually pull that with fake centers

with the coins you can weigh them and measure the diameter and thickness to verify. listed on wikipedia.org

can only vary slightly


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