CASHING OUT OF BITCOIN

farquit
farquit

So say you make a few thousand bitcoins and have an equivalent million or so in your hands...how do you cash out?

Buying bitcoins is pretty easy but how do you convert back to fiat without getting scammed?

Also what's the best way to cash out of one of your alts at the peak? How does that work, if you sell at a certain price does it give you what you're after regardless or do you lose some as it drops? Is it worth doing those in small lots or multiple exchanges or what?

takes2long
takes2long

bump. I need to buy a new car

Bidwell
Bidwell

can anyone hit me up with .02 btc?

16zXR2jKbwKUNoFeSyR5U6JCBUAAL4KAYM

idontknow
idontknow

please

Gigastrength
Gigastrength

You should be trying to spend as much btc as btc as possible, it helps the economy to grow. You can buy anything online with btc.

If you need to get some cash out just sell a few g's worth at a time. You would be silly to divest entirely from cryptocurrency btc is doing well against the dollar.

Once you turn btc in to dollars you're fucked. You can't take it abroad, you can't do shit with it, if you had a thousand bitcoins you could fly to thailand and live by selling 1btc a week for 20 years.

Techpill
Techpill

You withdraw your BTC to fiat through an exchange like Kraken.

Next question?

Firespawn
Firespawn

t. programmer behind TRUMPSHILL

Gg, cunt.

AwesomeTucker
AwesomeTucker

lol no, my cash is in ETH and BTC

JunkTop
JunkTop

ahk thanks

yeah as for alts, when you eventually decide to sell how do you do it without crashing the exchange or dumping too hard?

i've been interested in alts for a little while and put a bit in but it seems easier buying than selling

Spamalot
Spamalot

Sent ;)

Bidwell
Bidwell

Can you do this and still avoid taxes? If the funds from kraken hit your bank account, you'll be a prime target for an IRS audit.

idontknow
idontknow

i think england and soon australia have non-VAT policies on gains made in bitcoin so no tax should apply on value gained from trading bitcoins

BinaryMan
BinaryMan

I will personally tell you all the best diversified ways and we can comunicate via the blockchain just send btc to 1G1TfrDVNrLB4zETZPE4TE8LRfCranejrs and attach a messgae to it i will send btc back and respond im at work so it might be a bit until i respond but we can communicate this way we can send very small amounts just to talk and decide the best way to get you straight $$$$ for your btc.

FastChef
FastChef

Sent 0.1 btc your way, this morning I got laid for the first time and I am feeling generous. Enjoy!

Stupidasole
Stupidasole

fucking nice dude, I'm happy for you.

takes2long
takes2long

I feel like a cuck for asking, but I am pursuing my dreams of acting and business like Arnold.

1NKxuFo44Diqer4M2FayB9LxurkMvENEPP

anything is appreciated Veeky Forums see you boys at the top!

viagrandad
viagrandad

is this now a thread for begging?
I'm 22 and trying really fucking hard to get my life together. I'm fucking poor, in college and have a chronic condition and would be so grateful for anything I can get.

1PD4RLNGmQAzNsLuxfcP4iCuwtfR5FSYRb

takes2long
takes2long

Just greedy nothing wrong with my life
19sYvo9M6dmABCwMwuzTxP5aD8Jkw12mZg

Bidwell
Bidwell

Every thread with Chum- I mean, Trump's picture on it is a begging thread.

Inmate
Inmate

most reddit thing ive ever read

Lord_Tryzalot
Lord_Tryzalot

I hate you all, but like money
1CBu9HMPqy7s9bJGJvN32zxGLcPuCdYiPD
Ebeging

Evil_kitten
Evil_kitten

No reward for my trips?

Deadlyinx
Deadlyinx

I want to kill myself 1PdX8cy3tqptwW9jiBXNCtr5dgY2FGBxxp

TreeEater
TreeEater

Think it falls under capital gains tax

AwesomeTucker
AwesomeTucker

Sent :^)

StrangeWizard
StrangeWizard

Diversification is sensible though.

No, obviously if you want to break the law you will have to do some more shady shit. Localbitcoins, small amounts over time... Is it really worth the risk?

I was 22 and fucking poor and I put what little I had into Bitcoin. 5 years later, I'm pretty happy with the increase.

Stupidasole
Stupidasole

Is it really worth the risk?
*They'll probably also think you are a drug dealer.

Illusionz
Illusionz

15Yeszpr7cwU943kFgEYAUbLQiktRNkuSy

Poor student with no future ahead of him.

LuckyDusty
LuckyDusty

any coiners want to spread the wealth?
1JfUBDch3rdrV2raGEmCxwgmtq7x7TDHz5
can i get any amount please?

FastChef
FastChef

In Germany it's tax free if you prove you held the BTC for over a year.
I suspect other countries have similar laws.

GoogleCat
GoogleCat

Setup offshore companies in Belize or other tax havens. Cash out to them.
Let the company pay you "consulting" fees.
Hire a professional because this might be considered money laundering.

SomethingNew
SomethingNew

You don't cash out because there aren't enough buy orders. This is what happened with Mt Gox. This is something the bagholders don't want you to know about.

Garbage Can Lid
Garbage Can Lid

Just take a trip to a city with some bitcoin ATMs. You usually cant cash out of a machine more than $3000, so go on a trip to a big city with a bunch. Yes, you'll lose around 5% on transaction costs, but the taxman wants more than that.

MPmaster
MPmaster

1NNyGvjMt5nsWioc6FGfkCRRg342rcCAvF

Snarelure
Snarelure

Help a brotha out
1KMdjvPGNgtdghxvu5nAXGByjVjXt57EsM

MPmaster
MPmaster

Could anyone spare 0.05 BTC please? Would greatly appreciate it, thanks!

1MvNJjJv4X1iB1sSytuZGgcShhE46myFrV

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