Sell ​​my bitcoin from 2010

[iwoswinvs]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

[1714939575]

1714939575

[1714939575]

1714939575

[RickDeckard]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

I don't recommend you to sell at once 50,000 BTC simply because if something goes wrong in the exchange they will either flag your account and it may take a while to get your funds back. Plus, if you do end up paying taxes in your country, you're in for a ride.

You can go follow two roads ( I believe ):

Road A - Slowly selling your BTC in an exchange of your choosing and enjoy your life as it goes. If you don't like exchanges that ask for personnal information (ID's and such) you can try P2P services (localcryptos/Hodl/bisq).

Road B - Exchange big amounts of money and hope that your bank doesn't flag you. This is a more risky move, but provided that you've got proof of purchase or you can explain how you got the BTC I suppose it would be OK in the end. Remember that no one knows what the future may bring and BTC can rise even higher in the future.

Either road that you end up choosing, I'm mostly positive that you can't sell such a high amount of BTC in one single day (or even if you could, it could take a while to transfer such a high amount of BTC to your bank). It would also be interesting to see how it would affect the market.

As always, if you own indeed a vast amount of BTC first step would be to take them to a cold storage and put them inside a nucler bunker in a remote area. Then you can calmly decide what to do next.

[odolvlobo]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

Only in your dreams... Anyway, that's a ridiculous question. Selling anything worth $1.5 billion worth is going to take some effort.

[Bergkampsballs]

I hate it when you just remember that $1.75 billion worth of assets that you left lying around.

[Twinkledoe]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

Only in your dreams... Anyway, that's a ridiculous question. Selling anything worth $1.5 billion worth is going to take some effort.

In the first place, does he really own 50k bitcoins here? How come he created a new account just to ask this? If he is a long time holder, I guess he should know by now the right answer to his question. I am curious about his true motives of the OP.

[Filiali]

OMG! Congrats!!!

Agree with RickDecard: Nuclear bunker + Sell max 10 per day

[RickDeckard]

OMG! Congrats!!!

Agree with RickDecard: Nuclear bunker + Sell max 10 per day

Even in a nuclear bunker I'm not 100 % certain that they would be safe ahah .

On a more serious note, OP never said exactly that he had indeed 50k BTC, we just assumed that he had considering his phrasing. If he indeed has such a high amount I believe that more answers will come to this thread that could point him to the right direction.

One thing is for certain @iwoswinvs be very cautious on what you do. Amounts greater than 1 are a big deal (hell even >0.5!) and if you indeed just "remembered" that you had a bunch of coins stashed away somewhere you probably were also unaware of the highly intricate and developed scams have become in the years since BTC was conceived.

[blockman]

Congratulations if that's for real. But if you just made an account to discuss it, I don't think that's possible if you plan to dump all of it at once.
You can dump that in several batches but I don't know how long it will take you to dump all of it. And if that's that you "remember" it, do you still have it?

[tinopener]

In my experience, the very relaxed dudes who have forgotten about their Bitcoin fortunes tend to give the whole lot to charity.

[abderrazak belkhir]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

I don't recommend you to sell at once 50,000 BTC simply because if something goes wrong in the exchange they will either flag your account and it may take a while to get your funds back. Plus, if you do end up paying taxes in your country, you're in for a ride.

You can go follow two roads ( I believe ):

Road A - Slowly selling your BTC in an exchange of your choosing and enjoy your life as it goes. If you don't like exchanges that ask for personnal information (ID's and such) you can try P2P services (localcryptos/Hodl/bisq).

Road B - Exchange big amounts of money and hope that your bank doesn't flag you. This is a more risky move, but provided that you've got proof of purchase or you can explain how you got the BTC I suppose it would be OK in the end. Remember that no one knows what the future may bring and BTC can rise even higher in the future.

Either road that you end up choosing, I'm mostly positive that you can't sell such a high amount of BTC in one single day (or even if you could, it could take a while to transfer such a high amount of BTC to your bank). It would also be interesting to see how it would affect the market.

As always, if you own indeed a vast amount of BTC first step would be to take them to a cold storage and put them inside a nucler bunker in a remote area. Then you can calmly decide what to do next.

The option one is perfect and i think there is no need to sell all this huge amount directly...the most important think is to stay safe and take all the securuty and it seems our friend did because his bitcoins still safe since 2010
Selling in parts is the best option the bank option still risky

[Jowex]

Why would you need to sell this amount at once? You should sell it very slowly, and keep some of the bitcoins too.

Also, trade them for some of other cryptocurrencies, like Ethereum, Litecoin (This is very good for transactions), Cardano,... do your research.

[Wexnident]

Err no it's not possible. Let's not even mention exchanges probably stopping the transaction, heck, just the fact that banks would probably ask wheretf you got your money, which would lead to a lot of issues (especially if your country has no specialized rules for crypto income) which is going to be a pain. Slowly selling it is one option, but volatility is going to rekt you so you can sell it all at once BUT you gotta talk to exchanges/companies willing to. Might take a lot of time, especially again, you gotta have to talk to your bank about where you got that much money. Might even need a lawyer you can talk to just for the sake of that issue.

[Natsuu]

The post is really questionable and seems suspicious if you will look at it. This looks like someone who just claim that they have big worth or something.

But if you are serious, and you have 50k BTC in your arsenal, then congratulations, you're now a billionaire.

In regards to the question, I guess the best thing to do is:

1. if you have a business you want to establish, then sell a specific amount based on the business plan you will made

2. Convert some of your BTC to other coins, top coins, to be specific.

3. Plan your finances on monthly basis, and withdraw the amount you need. In that manner, you will just have to worry about payment for exchange in 1 drop per month.

4. Convert 5-10% of your btc to USD, open a stock account, then start investing to stocks.

5. Live whenever you want

[hd49728]

On Grayscale, what you buy or sell is shares, not truly bitcoin. You can read more at their FAQ: https://grayscale.co/faq/

I don't know their max cap for intraday sell per user. Others who are more knowledgeable can help you.

It is worth to note that if you are selling 50,000 BTC, you will get a huge huge fiat amount in pocket. Therefore, you need to file taxation document and pay your tax, if you don't want to go in jail.

[yazher]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

It's not a good idea to sell that huge amount nowadays because there will be huge questions on the exchanges that you need to answer when you about to withdraw that high amount of money. If you want to sell it directly in person, that is too risky I wouldn't recommend you to do that. If I were you, I would just sell some fragment of that amount to enjoy this massive bull run we have.

[maculeth]

surely the network will be busy and it will make transactions interrupted and delay occurs. it's better to sell per 1 bitcoin, if it's sold then sell it again and again. don't be 50,000 bitcoins for once. It's a big number after all, will it come true? 

[maydna]

Hello
after 12 years i remember i bought bitcoin in 2010
is it possible to sell more than 50,000 bitcoins at once or is it better to sell direct to a private individual like grayscale or microstrategy?

Yes, it is possible, but I don't recommend sending all of that amount at once because that can make the exchange suspicious and can block your account temporarily. I think you can sell for 1 bitcoin step by step, but don't sell it all because I think you want to sell bitcoin at the other high price, so it will help you make another profit in the future.

You can sell directly to a private individual, but you should know your buyer to prevent you from scamming, and you will not have a problem with your buyer. But as I say, it is better to sell your bitcoin at a small amount because selling only 3-10 bitcoin will give you a lot of money, even if you sell bitcoin at the current price.

[iTradeChips]

If this is true then you must be one lucky beast for finding those bitcoins. Anyway, money laundering laws are in effect all over the world and having that lots of bitcoins would spell instant meddling from the powers that be who want to get at you or your wealth. Be very careful who you deal with and it might spell bad times to those who tread loosely with all this wealth. If you are the kind of businessman like person who started from little and then became rich because people see that you have a physical means of getting wealth then you will not be mistaken as some thug who stole money. Anyway, enjoy your riches.

[Lordhermes]

If I were you, I would just sell some fragment of that amount to enjoy this massive bull run we have.

For how long those fragment will finish up 50k btc, it will take approximately a wide number of years to finish up 50k btc, in that case, it would be better to let your wife or children to have access to your private key or rather be ready to be in jail.
Selling such amount of Bitcoin is a very risky one which sometimes op may be accused of performing some fraud activities,.

[shoreno]

11 years you mean because the year now is 2021  not 2022 . you remember that means you arent sure if you have those old btc but why you are asking if how you gonna sell them but why not confirm first that you still have those old coins  . 50,000 bitcoins was alot  , i know btc is cheap back time but those old bitcoiners that i heard on stories dont have that much but they can only have a hundred or a thousand at max but you could be different that them , you might be rich that buys btc or a miner but to answer your concern its better if you can sell partially to an exchange and not on the private individual , selling outside the exchange can be risky .