Let's say you're an absolute madman who has 100,000 bitcoins

Let's say you're an absolute madman who has 100,000 bitcoins

How do you even cash that out all at once? Would you just have to find people yourself who are willing to buy your coins?

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Localbitcoins selling them for cash is probably your best bet

dont get stabbed by a drug dealer though

why would you do that when we're on the brink of the dollar collapsing?

You contact people like Tim Draper, Michael Novogratz or Barry Silbert and sell them OTC

You cash it... by trading it for bitcoin cash.
Unironically, you renounce your shitizenship and move to japan.

Trick someone into buying the wallet - it isn't worth risking sending the transaction for the Bitcoin, since the transaction will more likely than not get stuck, and you'll lose any pretend value the pretend money had. Good luck finding anyone to buy it though - the only people left supporting Bitcoin are shills and poorfags who follow what the system tells them and suffers whenever an asset crashes (See: GFC, Dot-Com Boom, Great Depression)

Boy check this out, a 50,000 coin auction back in 2015.

usmarshals.gov/assets/2015/dpr-february-auction/

I'm wondering the same thing. It seems that people here forget that little detail.

Like says, it's all pretend money if you can't cash out.

b-b-but user, bitcoin IS money!!!! USD is pretend money too! FIIAAAAAAAAAAAAAT!!!

rain 1,000 over Veeky Forums then buy gold

Sure, everything is pretend money. But with USDs you can at least buy food or get a hooker. With crypto, what do you do?
You're gonna say "suc my dick i'll transfer 0.03 dash to ur wallet"? "give me that piece of bread i'll pay you in ripple"

You CANT, so its shit

you will be one day

You CAN hire escorts with BTC but they're not fucking craigslist tier whores bro

Obvious appeal to cashing out all at once at ath. But if you literally had 100,000 btc, that'd be $68,547,850 at this time. I think coinbase would let you do $7000 a week, but that's not all at once... Fuck this is a tough one because nobody sane would buy a wallet that fucking big at the current price, or any price for that matter. And who would trust anything but cold hard cash for something like that? You'd have to bring a gun and body guards for that much money all at once.

You can get a visa that you load with BTC and spend like a mofo

sell it to an exchange, but really someone would probably just torture you until you give them the private key

the risk of being rich without having proper connections is high

Seriously though, I've seen tons of threads about this subject and there is never an answer.

>exchanges are shady and are likely to block your account if you try to withdraw a large amount
>of you do sell your BTC to some random fuck in localbitcoins you'll have the IRS over your ass

You have to realize that trading is just half of the problem, converting your crypto into actual money you can buy a house with is the another half. I'm even willing to believe is easier to make hundreds of thousands trading than easily converting all your gains to FIAT.

>if you literally had 100,000 btc, that'd be $68,547,850 at this time

Since it's not FIDC insured.

You would need a spreadsheet and spread it out to multiple accounts and with draw at half the max rates to not get anything shady to happen.

Easy. Take out a loan with salt, unchained, or one of the other loan providers that accept bitcoin as collateral.
Unchained and salt are all I can think of though

yup, theres a reason why the only guys you hear cashing in the gains are at best 5 figures

crash an entire exchange with a single market sell order for the lols

Try contacting gemini they deal with large clients often.

With 100btc.

No you LARP. Salt won't back that.

Again best bet is to spread account and withdraw.

Real people with money like goyem don't keep more than what will be insured with trad banks.

Considering crypto is all fantasy games it's your bet best to spread it out and pay the transfer fees.

I'd contact an exchanges team directly and talk to them as a large client. Lots of those companies do that including Bitrex and GDAX.

Business idea: put it all into DGB

>some exchanges are blocked by banks
cant do that with some of them

That's considering you have a lot of BTC or ETH in a wallet that has nothing to do with an exchange. But if you made your money in an exchange, what do you do?

I guess this is the best option. Using many exchanges, withdrawing small amounts (< 5k). Otherwise you might be deluding yourself, thinking you're a millionaire when in reality have nothing. Nothing more than the mere hope that an unreachable shady institution who is hodling all your crypto for you will be trustable and accountable and let you withdraw it.

What I don't understand is why people here don't ask this to themselves more often. I guess they do but they just want to live in fantasy world.

You forgot a zero it would be 680 mil

I use bitcoin to buy gold and silver online through jmbullion. I then take said gold and silver to a pawn shop to cash that out. Then i take the cash and buy money orders to pay bills. So far no tax notices this way.

>How do you even cash that out all at once?

No one with that much money would be retarded enough to do that.

>Considering crypto is all fantasy games
>still stuck on dennial

naw were just fudding, everything thats hard or dont want to hear is fud

Cash it out slowly and use your first cash out to get proper financial advisors and security set in place, put down money on multiple physical wallets send to those wallets equal shares treat those fuckers like bricks of gold while you bleed it out.

You want to talk to legitimate lawyers/accountants with crypto experience at that point. There are bulk transactions that happen through private deals.

That's 686,522,000 USD today. You can afford to hire some experts with that much.

>money = intelligence/wisdom

Not bad user. I might do this as well when the time comes.

But if he has 100,000 bitcoins he would most likely have 100,000 bitcoin cash. What does he do?

In the sense that neets keep Asking these questions. Yes.

I can transfer 1,000,000 euro to usd no question. Can't do that with crypto.

>What I don't understand is why people here don't ask this to themselves more often. I guess they do but they just want to live in fantasy world.

NEETs are like that. They avoid discomfort at any cost. They create fantasies in their mind to cope with their failure as human beings. They only see the short term but not the long term even though they think that they're aware of the long term. They laugh at the "normies" for not investing in BTC or whatever, but in reality they're not interested in making money as much as creating a hugbox for themselves.