Concerns regarding buying bitcoins offline(udercover cops) - What do you think?

[amspir]

Don't sell to anyone who mentions anything illegal they would be doing with the coins and you are fine.

If the buyer is like, "Yeah, I'm gunna head over to the darknet and buy some stolen CC numbers as soon as I get my hands on these coins," Don't sell. Duh.

I just don't get why these Florida defendants would even go through with the deals, when someone started talking like that.    The entrapment deals did involve unusually high amounts of money though.

If I were a face-to-face bitcoin dealer, I'd probably stick with a self-imposed rule of $500/day per person, for my own personal safety, as well as being below the reporting requirements for a federal Suspicious Activities Report.

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[crazynoggin]

Before buying or selling, make sure you know the max you can sell or buy per day per person in your place of residence, then never suggest you would ever buy for illegal purposes and never sell to someone  that says or suggests in any way that it will be used for purposes that are illegal. Also, never ask for the purpose of the funds being bought and never  tell your intent of the funds being  sold. Basic rules of thumb  that you  should always be aware of.

[TwinWinNerD]

Do you guys really think that any state agency would go that far? Seems very tinfoilheaded from my POV

[theskillzdatklls]

Don't know what was written, didn't read thread, but if they say they want to buy sketch shit while your sale is underway, don't deal with them.

No person actually wanting to do sketch shit would say so publicly anyway, so obv law enforcement scam.

[recan86]

1. Why don't you just split up the transactions
2. If they are trying to catch Bitcoin sellers, then why are you concerned about being busted as a buyer?
3. I don't think that it is a big issue as long as you do not buy everything in 1 massive transaction.
4. Buy on Coinbase and then put the coins through a tumbler into another wallet.  It turns out to be cheaper than most LocalBitcoin advertisements and is physically safer than Localbitcoins.


This is all assuming that you want your Bitcoins to be anonymous? If not, just buy on Coinbase and don't be sketched out about Bitcoin, it isn't like you are buying drugs

Tumbler?

[burnettm]

What? no. Haven't you ever watched reality TV cop shows? They lie about being a cop all the time!

Yes, reality TV is the proper source for legal opinions. Actually referencing case law such as Frazier v. Cupp apparently is not a valid source.

it is usually $1000+ that's illegal, not $5000... Don't listen to the other people in the thread who say otherwise...they are clueless.

Here we go again, more reality TV legal opinions. Of course we should ignore that 18 USC 1956, 1957 and 1960 completely contradicts you, and the OP of this thread.

1. Why don't you just split up the transactions
3. I don't think that it is a big issue as long as you do not buy everything in 1 massive transaction.

The amount of stupid in this thread is starting to make my head hurt. See 31 USC 5324

4. Buy on Coinbase and then put the coins through a tumbler into another wallet.

http://bitcoin.stackexchange.com/questions/25722/bitlaunders-mixer-vs-major-exchanges-mixer/25753#25753

[joshraban76]

And why would you want to buy BTC offline when you can buy it online ?

Forgot all that hassle and buy it online.

[atc1]

I think the only reason that bitcoin is being looked at like this is because they think you're selling illegal substances or services. Either way,be safe and only buy them if you think it's worth the risk. They certainly can't arrest you,maybe just question you and leave.

[boumalo]

If you want to buy a limited number of bitcoins and you don't want to do anything illegal you are safe

[Justine]

Just follow the rules. Limit your nuy and sell to under 1k when dealing locally.

Avoid taking/doing bank deposit crossing state line and you should be fine.

[ShakyhandsBTCer]

I was thinking to buy some bitcoins but i have few concerns since using Localbitcoin is i am not sure really the right way to go. I did hear from few friends which they warned me that feds are trying to use sites like that to catch people selling their bitcoin in $5K or more in person and then they would accuse you of laundering money. (i dont want to go into jail because of bitcoins)

What do you think about this things? I did hear some sort of stories occur in past. It might be an issue to be aware off or not?

Just keep the amount of bitcoin you will buy or sell limited to less then 4 figures and you will be fine.

If you have repeat buyers just make sure they are spreading out their transactions enough so that it could not be considered "structuring"

[burnettm]

I can't read a thread, or be bothered to read 31 USC 5324