MinarchistCoin (OP)
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November 26, 2017, 10:40:43 PM |
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I just did a search for Bitcoin on Craigslist out of boredom and curiosity. It is my understanding with AML/KYC laws that you cannot do face to face Bitcoin sells. I noticed a lot of people are offering their bitcoins for sale on Craigslist. I think I've read where people were busted under the AML/KYC laws for selling bitcoins to people.
There are numerous people in my area looking to buy and sale. It would be a great way to cash out tax free. What do you all think?
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No Gods or Kings. Only Bitcoin
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TheGodson
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https://nitrogensports.eu/r/4896627
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November 26, 2017, 10:54:13 PM |
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Honestly, this sounds pretty dangerous. A lot of things could go wrong here. You could get robbed, scammed, or get charged with tax evasion. The more money involved the more dangerous it becomes. You could probably just find a Bitcoin ATM and withdraw money that way instead.
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MinarchistCoin (OP)
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November 26, 2017, 11:09:13 PM |
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Thanks for your input. It seems very risky to me, but I was curious. I saw people saying they would only meet at a police station to do the trade. So I'm like why would you go to the police station to do an illegal trade.
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Welsh
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November 26, 2017, 11:18:19 PM |
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It's almost certain that you will be scammed, if you go this route. I would much prefer to deal here through the currency exchange section and see if you can arrange for a trusted member to meet you face to face, than someone through craigslist who has no reputation to speak of. Otherwise, just use the exchanges. The fees will be higher, but thats the price you pay for a safe and secure transaction.
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jlanzago
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November 27, 2017, 12:27:57 AM |
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It is very risky. Things can go sideways and you could lose all your money. Because that means that you have to deposit cash somewhere to get your BTC back. What if the seller runs?
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littlewizard
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November 27, 2017, 12:39:15 AM |
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You have localbitcoin, why do you choose craigslist?
There are a lot of scams in Craigslist, not just bitcoin, many people get scammed by transferring money via paypal, bank transfer etc.
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howard.ashoul
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November 27, 2017, 01:22:32 AM |
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Don't, it's not a wise idea. 1) If you want to exchange/sell your BTC for FIAT money, just do it at some crypto-exchange. 2) If you want to directly sell your BTC to people for higher price, choose some P2P exchange. Don't use craigslist. All standard exchanges and P2P exchanges are listed here http://www.coinparator.com/compare-exchanges/ . Just go with them.  |
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jseverson
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November 27, 2017, 01:25:41 AM |
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There are numerous people in my area looking to buy and sale. It would be a great way to cash out tax free. What do you all think? That's kind of the thing. If you take the state out of the equation, you can't come running to it for protection. Even if what you're doing isn't illegal, you're opening yourself up to scams and you're likely not going to be able to do anything about it. If you acknowledge that risk, along with the countless Craigslist horror stories, and feel that it is worth taking for a tax-free transaction, then go ahead by all means. I personally wouldn't recommend it, but different strokes for different folks, I guess. Good luck to you either way. |
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MinarchistCoin (OP)
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November 27, 2017, 04:42:30 AM |
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Thanks for the replies! It is great to get opinions and other perspectives so quickly.
I was thinking the only risk for me would be counterfeit money or robbery. If I sell 1 Bitcoin for $10K cash (USD) how could I be scammed? I would check the money to make sure it is not counterfeit. I also live where you can legally carry conceal a gun so I'm not worried about robbery so much. Once I see the money is legit I would send the Bitcoin. What am I missing?
Im not going to do it, but I like my thinking to be challenged.
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squatz1
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November 27, 2017, 05:54:52 AM |
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It's not illegal, though if you're going to be putting it on a public forum like that where you're able to be tracked I'd ensure to be making sure that you have the proper documentation from the gov to be able to sell this Bitcoin because if you're in a state like NY you're not going to be able to sell Bitcoin at all. Honestly, this sounds pretty dangerous. A lot of things could go wrong here. You could get robbed, scammed, or get charged with tax evasion. The more money involved the more dangerous it becomes. You could probably just find a Bitcoin ATM and withdraw money that way instead.
This isn't the question though, he's asking if it's illegal -- which it isn't. Just ensure to be safe bud. |
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TheGodson
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https://nitrogensports.eu/r/4896627
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November 27, 2017, 08:21:01 AM |
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Thanks for the replies! It is great to get opinions and other perspectives so quickly.
I was thinking the only risk for me would be counterfeit money or robbery. If I sell 1 Bitcoin for $10K cash (USD) how could I be scammed? I would check the money to make sure it is not counterfeit. I also live where you can legally carry conceal a gun so I'm not worried about robbery so much. Once I see the money is legit I would send the Bitcoin. What am I missing?
Im not going to do it, but I like my thinking to be challenged.
You'll probably get a handful of people that will try and give you the run around trying to get you to send your bitcoin before they pay in cash, but let's pretend you find a guy that is willing to pay in cash. You guys meet up at a public gas station. Surprise! He brought is cousin and his friend. Turns out they are junkies and are desperate to make some money. They force you into their van. You try and be Rambo and take out the friend, but the guy and his cousin manage to get you in the van. They proceed to torture you until you give up your private key. You're a badass and don't give it up. They saw off both your legs. The cops show up and surround the vehicle. You are rescued. The guy and his cousin go to jail. You get to keep your bitcoin and you sue for a lot of money. You collect disability, but end up being in a wheel chair for the rest of your life along with PTSD. |
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Casey7
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November 27, 2017, 08:30:30 AM |
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You have localbitcoin, why do you choose craigslist?
There are a lot of scams in Craigslist, not just bitcoin, many people get scammed by transferring money via paypal, bank transfer etc.
Yes you are right. I think you will be nearly scammed by people there. Localitcoin exchange is another good that you could try. So its very risk better just exchange in localbitcoin. |
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Aleister Crowley
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November 27, 2017, 09:05:38 AM |
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You have localbitcoin, why do you choose craigslist?
There are a lot of scams in Craigslist, not just bitcoin, many people get scammed by transferring money via paypal, bank transfer etc.
Yes you are right. I think you will be nearly scammed by people there. Localitcoin exchange is another good that you could try. So its very risk better just exchange in localbitcoin. as long as localbitcoin still provide good service ,, for what is thinking of transferring trades to craigslist, ?, while craigslist has a bad record with some scamm they do .. for security better keep it on localbitcoin ,, than you lose your funds in craigslist ,, |
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