Turning life upside down, 250k.

[Bananana]

Hello, I have just won a total of 250k worth of BTC, how would you go about it and transfer the money into an apartment, taxing as little as possible.

Can I get a loan?

This is the scenario:

- You have been homeless the past 2 years, with litte to no income(apart from betting)

- You have 50k in debt to variouse bills(small things) of that 50k about 40k is student loan.

- Apartment price is little expensive; 400k for a decent 2 room apartment.

- You have just found a job paying 10k a month(old nice friend offered)

How would you turn your life upside down? without risking to much from gov. eating your lucky money?

Since you said you have a job paying 10k a months, getting loan should be pretty easy for 400k apartment. Next you should really pay back all the bills, student loan etc especially if those charges high interest rate.

Then you can keep the remaining in bitcoin or whatever you like. Just make sure don't go to some gambling site

[maurya78]

Stick it into a set of paper wallets and chill out, my man
Check again in 2020

[b!z]

Paying off the debt is of course a good idea.

Whatever you do, don't sell ALL the BTC. I would put at least 100 BTC in cold storage and forget about it. You don't want to be kicking yourself a couple years down the line when another bubble happens.

Im not selling them over night, it will happen during the 1s or 2nd month. Just the last day, have earned a couple of grand. Just like I lost over 30k last weeks.

Thats really what makes me want to sell. I like bitcoins, and I will be earning more bitcoins the coming years, (knock, knock, knock for not jinxing) thats why im not worried.

I just want my own place to live in. I hate renting or living at others place.

What I would do for a big loan to get a nice nothing fancy apartment.

I wouldn't get that $400k apartment right now

[activebiz]

you can spend the money on a bisiness. and transfer funds.

[bitbunnny]

I'm just interested how you won it.

[Lethn]

I'd immediately invest it in passive income so I wouldn't have a problem with money for a long while dividends and such.

[Exther2]

Gambling is tax free but, transfering that money to fiat isn't. thats the difference. 

My opinion exactly, You could get the money sent to your bank and might be under some taxes /gambling issues  (if you are in the united states as you most likely are) or even problems with the exchanger with such a big amount.

I'd immediately invest it in passive income so I wouldn't have a problem with money for a long while dividends and such.

Passive income? Well, the best ting would be to let it sit in BTC. Take out in FIAT and let some fucker invest it for me would be just as stupid as some other mentioned, bet all on one match.

What I really was wondering about was how I could get the money without taxing half of it.

Would be pretty crazy to bet that much on a single match, but even if someone is willing to do THAT no bitcoin bookie would accept that bet anyway though (unless you are betting on something like 1.001)...

[kralkral]

in which site did you play?

i am not sure that any btc betting site can 250k usd without any problem...

[Morbid]

buy gold and silver. while you still can.

[Lauda]

buy gold and silver. while you still can.

Why would I fucking buy gold and silver? This is not 2015 BC...?

Im pretty sure, only in the Emirates gold can be used to any thing.

This is legit money, I dont want to hide it. I want to tax minimal and get it out in my bank balance

Once we start getting gold from space (asteroids or such) it will be worth 0.1$ since the supply out there is probably limitless.

[Morbid]

buy gold and silver. while you still can.

Why would I fucking buy gold and silver? This is not 2015 BC...?

Im pretty sure, only in the Emirates gold can be used to any thing.

This is legit money, I dont want to hide it. I want to tax minimal and get it out in my bank balance

you came here to get guidance. if being in this forum havent taught you what is money then good luck with that sort of attitude.