Service legitimacy question: Bitcoin to USD

[ivcosphi]

Hello,

I have someone that is willing to pay me a % of BTC for converting it to USD and sending it to India. Basically they are wanting to send me 2 BTC and I am supposed to convert those to USD (in US) and send to an Indian bank account.

I know usually these things are questionable but since BTC is irreversible... any thoughts on below:

1) Tax implications since these will go towards MISC earnings on W2 and even if I write majority as expenses since most will be sent back in USD.
2) Is this frowned upon since I am not a registered coin exchange in my state of residence?
3) Is this seen as $ launder1ng?

Probably yes to all questions, but wanted to confirm. Thanks guys.

[odolvlobo]

I have someone that is willing to pay me a % of BTC for converting it to USD and sending it to India. Basically they are wanting to send me 2 BTC and I am supposed to convert those to USD (in US) and send to an Indian bank account.

Is this someone that you know and trust, or is it a random stranger? It seems to me that there is a high probability of it being a scam or being illegal in some way. Why can't this person sell their bitcoins for USD and send the USD? Why can't the person just send the BTC directly?

As for possible scams, the person might want to set up a wallet for you or insist that you set up a wallet at a specific site. Then they would take back the bitcoins once you have sent the USD.

[peter0425]

I have someone that is willing to pay me a % of BTC for converting it to USD and sending it to India. Basically they are wanting to send me 2 BTC and I am supposed to convert those to USD (in US) and send to an Indian bank account.

Is this someone that you know and trust, or is it a random stranger? It seems to me that there is a high probability of it being a scam or being illegal in some way. Why can't this person sell their bitcoins for USD and send the USD? Why can't the person just send the BTC directly?

Just an idea, here. Maybe the one op is making a transaction with does not want the bitcoin to be traced back to him once he converts it to fiat. Now maybe that person just wants to avoid unnecessary questions from the bank from directing it to op or maybe they just do not want to be found out. Either way, it's difficult to conduct a transaction with such a huge amount of money especially with someone you might not know personally.  Even if it might  not be a scam, it can have serious repercussions later on.