The key difference is that the Bitcoins exist electronically rather than can. They are owned by TangibleCryptography and can owners are members of the community where Bitcoin Cash. All Bitcoins are digital. Stay out - big changes coming up! I'll be cashing out while it's falling, out cashing in when it's at rock bottom. Now that i'm interested where doing day trading and eventually cashing it out once i manage to increase my stash i read a lot of cash are bitcoins to track coins associated with crime and that we now have the so called bitcoin alliance that includes all the main bitcoins and even one core developer how weird is that?
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New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Yet many of the transactions blocked by the credit card system — namely gambling , drugs , and crypto-extortion — are themselves illegal. Finally, if you do trade Bitcoin in person without an established business as an intermediary, please make a conscious decision about how you do it. If any of our friend, family or relative is holding a Bitcoin and are willing to sell then you can get the Bitcoin at the actual price i. There's Coinbase tied in with US banks, wires and withdrawals have fees but much faster to use than MtGox. Then go get a big mortage on it and get cash that way. The poloce caught butch cassidy and the sundance kid because they traced the serial numbers of the bills they had robbed from the trains.
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So what you're trying to do is sell Bitcoins. Annual property tax however will be based on the tax can valuation of the property no matter what waspaid. Limiting your exposure to risk from an exchange is something entirely different. We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. The accounting information is held in the blockchain spread arrown the world in thousands where computers. If you have Out and want dollars, you have to find someone who has dollars and wants Bitcoins, then you exchange with them. The owner will have that deed i their own records and if tjey bitcoins they can go to the county cash house and get another official copy.
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Just ask dennis hastert. Not proposing fraud at all. In fact I went out of my way to say they need to pay all their transaction taxes etc. In the usa to sell property you just need to take your deed that has been signed over from the old owner to you and register it at tje country courthouse. Even if not its a good idea to prevent the old owner from later denying he signed it The old owner can have signed that deed over to you for any reason at all including trading for another peice of property, cash, a car, or just becuase they like your face.
The owner will have that deed i their own records and if tjey dont they can go to the county court house and get another official copy. Now if they have a mortgage then the bank may keep the deed until it is paid off depending on state law.
And or the bank has recorded a lien on the property and the county registrar will not reregister the deed with the new owner unless the bank provided a paper rlease that the debt has been paid off. When buying a property you dont have to record what form the consideration was ie a traded car, cash, another property or nothing. However you usually have record the value of the consideration and pay a transfer tax based on the value of the consideration.
Thats why you can often tell what someone paid for a property form the transfer tax. You can sell a property for farless or morethan it is "worth". If the property is a gift becuaseof your pretty face then the transfer tax may be handled according to state or county practice. Annual property tax however will be based on the tax assesors valuation of the property no matter what waspaid.
You can give away property. If someone bought a house from an owner for bitcoin thenthey would record the actual market value of bitcoin at the time it was sold i would guess. That wouldnt be fraud. And you dont have to say " bitcoins" on the tranfer deed blank. In fact many deeds dont habe a place at all for what was paid but the county registrar will wnat to know for the transfer tax to be right.
For example an american could sell his house in nyew york for a suitcase full of euros if they wanted. Or for a box of junk. But the transfer tax mist be paid on the true value. In a case where you sold it for a box of junk that might be difficult to determine and tje rile might be use a recent rough appraisal.
By the way you can always over pay your transfer tax to hide the true price you paid for the property. That happens in commercial deals sometimes when tje new owners dont want other businesses to know whst they actually paid. So in canada if i wanted to trade a land owner a car for an acre of land in the wilderness how would i do it? Much like worrying about the percentage of US notes that have traces of cocaine, that seems merely a regrettable truth, not something that should affect you.
So, depending who you ask, you have an issue either of lack of regulation, or inability to personally verify integrity of an exchange? Do what everyone else does, sell over time. If you have genuinely huge amounts, you'd get below market rate if you try cashing out all at once anyway. If an exchange decides to seize your funds, or implodes, or is cracked, you therefore only lose the coins you deposited that day. Its sort of like the "blood diamond" bs that sounds like its supposed to prevent bad sourced diamonds but really jist protects the monopolies of the giant diamond producers.
I supposed one option you might have is to become a bitcoin cash atm source yourself. Dont go through a middle man. Maybe buy a cash bitcoin atm machine and load it with some of your bitcoins as people buy them.
Lots of places still need bitcoin atms. If he is simply trying to offload them to convert to cash without taking a premium from customers - conversion fee he probably won't need a license to do so. How many coins are we talking here? Unless it is superior to 1, BTC, you are clearly trolling. Proof or go home. You can use the coinbase mutlisig vault. They can't withdraw your wallet as they only have one key. If you want to trade on the six figures, then you should: Either get a competent lawyer on this or just keep spending your bits like usual.
If you are worried about losing value due to volatility, convert the funds to fiat or precious metals using something like Coinapult which has dollar, euro even gold wallets. Then when you are ready to spend some or all of those funds they get converted back to bitcoin at the exchange rate at that time. There are other services that do this as well e. They argue all their coins are "clean".
Nah, they argue their coins are mixed. It is not unlikely that mostly coins from questionable sources are going to end up there, in some kind of tainted coin circlejerk.
Here's an argument I read about "taint". If you put together shit from 10 different farms, it is hard to know where it came from - but it is easy to know it is still shit. Even if you add a few stands of good grass in there, you won't be able to sell your shit as hay.
This user from this thread doesn't seem to have issues. This is a frequently discussed topic surrounding JoinMarket. I recommend reading into the market and the subreddit if you have any questions. From what I've read nobody has had issues trading JoinMarket coins. Almost all fiat is "tainted" in some way anyways. Just because a coin was involved in something shady at some point, doesn't mean it has anything to do with you. Couldn't you just trade your btc for ltc then back to btc and cash out?
Could even just cash out from ltc if you want. Something is really off about this post.. Buy a bunch of litecoin with your dirty bits, then sell all the litecoin on a different exchange for clean bits. How could you be guaranteed that the new bitcoins you buy will be clean? Does anyone have any idea as to the number of bitcoins in circulation which are tainted in this way? Bitcoins coming out of the cold address of an exchange are effectively clean, otherwise the rest of owners of the hundreds of thousands of coins stored on all the exchanges will have equally "dirty coins".
But if dirty coins went into cold storage surely some of them must be tainted how could that be? To reiterate what other people are saying, this sounds shady for a bunch of reasons. Why do you even want cash? Hypothetically, my plan would be to deposit directly into an investment account.
I know DriveWealth accepts bitcoin deposits, then I would likely purchase a Vanguard fund and do a transfer in kind to Vanguard. The real estate is also an option. Also pay your taxes and hope you're not on some blacklist of coins.
However if you are, attempting to avoid it and posting on a public forum won't help you out. It's the difference between unintentionally buying a stolen bicycle and asking Reddit how to shave the serial number off a bicycle. Also, I'm obviously not a lawyer, CPA, or otherwise financial professional. Do your own due diligence, especially if this is a significant amount of money.
As far as I know every Bitcoin has the same value. This alliance also doesn't suggest that that is ever going to change. Quit being a dumbass, just because you don't like something doesn't make it not true. I would guess that as time goes by, it will be harder and of less interest to look deep into their origin. You say you are not near "localbitcoin-hot" area but you can always travel. Why would it become harder? As the dataset grows, so does the metadata that can be applied to the dataset, and so does the computational abilities of analysis systems.
If anything, analysis will become easier. That sounds very counter-intuitive about more data making analysis easier; you might be right but I would guess not. But what I am sure of is as time passes, legal action relating to potential crime associated with BTC not only becomes harder to do but there is also statute of limitations.
Most cryptographic attacks seem counter-intuitive, and that's why the majority of us would make terrible cryptographers. We're not very good at thinking adverserially, because we aren't surrounded by people constantly trying to kill us. Think of Bitcoin's blockchain like a Sudoku puzzle.
It is true that this puzzle is ever-growing, but this growth is linear and progressive. Metadata, on the other hand, is almost never revealed linearly. A willing public disclosure of wallets associated with an exchange, for example, might fill in large portions of the puzzle as closures are computed for those addresses.
Similarly, a hack of a service where the coins are all moved to a single address basically finalises a massive number of "threads" in the puzzle. As with most cryptography problems, you have to assume that an attacker has near-unlimited resources, and more importantly basically unlimited time. The statute of limitations on an old transaction may be up, but if those outputs are spent in 10 year's time it can become relevant all over again.
Also for some crimes the statute of limitations is exceedingly, exceedingly long - or even non-existent! Statute of limitations for financial crimes, even tax evasion, tend to be much shorter than, for example, crimes of violence. I understand your cryptography argument I think but nonetheless associating BTC with crime must become harder as time passes as it is with anything -- fog of history or whatever. People move, change names, die.
Cashing them out in bulk is always going to be a challenge, even if you had squeaky clean coins you mined yourself. Just the size is going to trigger money laundering warnings.
I know you don't want to hear about it but we are talking about fungibility and privacy in this regard. You can buy an alt like XMR, that uses ring signatures to obfuscate the source and destination of the funds Then move your funds back to XBT if you desire We don't consider the USD to have this problem even though something like 90 percent of USD bills have traces of cocaine on them.
While OP could be a redneck or just dislike authority, is there really any place in the USA where localbitcoin or similar is really really far away? So, probably guess some other country. Some asian island-nation maybe? Mixing them now will look even more suspicious for some. Who really keeps a record of all trades?
I say fuck it, if you haven't done anything wrong no need to worry, cash out as you wish and tell the truth if confronted. One option might be to rent some hashing power. I don't think any I've seen will ROI but it's close. Or you could get into mining itself but that's a risky proposition. Just sell it, and deal with it if you have issues.
You'll get a better exchange rate with an OTC liquidity provider, and nobody has ever complained about them here. Cashing out is stupid. Why would anyone want significantly more wealth in fiat currency than in Bitcoin? So if I'm to understand your post, you're complaining about a problem that has not actually happened to you, but you're assuming is going to happen? You should take a look at CryptoNote coins, especially at Monero.
Monero is the only CN coin without fungibility issues that has the most literate community of users and developers. Dash has an anonymization feature too, called DarkSend. In the wallet you can set a target amount of funds to be anonymized and it does it in the background. The biggest caveat of DarkSend is that it's horrendously slow. I've seen reports from a guy stating that it took him 3 hours to fully anonymize 2 DASH. Someone else reported that it took him a few days to anonymize a large amount.
Fortunately, with most exchanges and in most countries there's no penalty for cashing out in small amounts versus large orders. Take advantage of this if you are worried. When that clears at your bank, repeat. At some point the exchange may see that there have been a lot of transactions representing a large amount of total value and for "KYC" reasons they may ask you about the source of the funds.
Fortunately, there's no penalty for cashing out at multiple exchanges. This will lower the total amount sold at any one exchange over a period of time. Or do what this guy does: Never ever ever ever do this. Structuring your withdrawls in this manner is an invitation for the bank to flag you under suspicion of operating "virtual currency business activity" or an unlicensed MSB.
The bank receiving your exchange fiat withdrawl is realistically the weakest link in this entire situation. If it looks like something that could maybe in some way be interpreted as structuring, the government is entitled to seize the entire thing without recourse.
Coinbase seems to look at about 3 levels deep and 1 level forward because they have canceled peoples' accounts for coin history and future that they didn't like. I wouldn't personally mix them with a mixer but you could instead transfer them between a few wallets of your own to give a decent history.
I'll take em, send me 5 coins, and I'll send you 4 back that are from clean sources mined. Can happen, but not very likely. But by mixing them more and more you're tainting them even more. What you could do is start with a small amount, and take your time. As long as the source of the bitcoins is somewhat explainable, that's mostly all they need. Don't be a dick and don't lie. It's mostly paper tigers. I've heard some "horror" stories about exchanges closing people's accounts because they "dealt" with addresses that were related to darknet stuff.
But, not 1st hand. I don't mix or do anything obscure with my coins. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Bitcoin comments other discussions 1. Log in or sign up in seconds. Submit link NOT about price. Bitcoin subscribe unsubscribe , readers 10, users here now Bitcoin is the currency of the Internet: You can also explore the Bitcoin Wiki: Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.
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Questions Tags Users Badges Unanswered. Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. Join them; it only takes a minute: Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top. How to sell bitcoins for cash money? What do I need to do this? This has been asked a bunch of times before: By the way, the process of converting something into cash is technically referred to as " selling ".
So what you're trying to do is sell Bitcoins. There are many ways to solve your problem. It all depends on the amount. Sign up or log in Sign up using Google. Sign up using Facebook.