Once had about 1,100. Much less right now. Lost a bunch from ukyo.loan and weexchange and labcoin. Sold 250 at $400
. Wish I had waited another 2 weeks to sell, I would have an extra $150k from that sale. Also, now I'm facing a $40k tax bill, lol.
lol @ paying taxes on Bitcoin gains.
Sell them for cash so there's no record of the transaction and you don't have to report it.
First, assuming you are ok with tax evasion...
1) it is hard to sell over $100k in bitcoins in person.
2) Let's say you worked your ass off on local bitcoins and did. Now you have $100k in cash. You can't just deposit that in your bank account. Anything over $5k and they will fill out a form and report you (but they can't tell you they did!). And if you make multiple deposits of <$5k you can get charged with "structuring" which is itself illegal. Essentially, you have to launder your bitcoin gains. Not very easy.
3) When you use that $100k to buy something (say a downpayment on a house), the IRS is going to want to know where all that money came from.