Let's say you have some crypto. Bitcoin has risen and now you're possessing like 250k USD in crypto coins. You know for sure it's a new ATH so you must either withdraw or transfer funds in stable coins. You have 1 day.
Obviously you can't send all the funds to an exchange like Bitstamp or Bitfinex because your account will be blocked most certainly. Multiple small transactions will lead to blocking as well.
You also can't meet with a person from localbitcoins because 1) nobody requires that much bitcoins at a time 2) a person who agrees to meet will probably rob and kill you.
What's your way to accomplish this?
Imagine you've made it
Robert Scott
Mason Reyes
> 250k USD
> made it
user I...
Ian Gutierrez
>bitstamp and bitfinex are the only available exchanges
Levi Brooks
Imagine you live in Bangladesh, Brazil, Angola, or even Poland whatever.
Christopher Wilson
send to coinbase, convert to USD/EUR, wait and cash out over time
Gavin Evans
Send like 50k BTC to 5 different exchanges. You are afraid of bank blocking or exchanges? Anyway call them right away to ask if you'll get blocked. Also you should have a verified Coinbase account ready or Kraken or whatever. They can't just fucking block you without any reasons unless you can't prove where you got the money or if you want to evade taxes.
Samuel Gonzalez
Next thing you can do is take a flight to a normal country where you can do cash transactions via LocalBitcoin without being robbed lmao.
Grayson Green
>bank blocking
Actually that's the other problem I didn't take into account. Anyway blocking by crypto exchange is much more likely than by my bank.
>you should have a verified Coinbase account
Does this prevent blocking? On the Bitstamp you have to expose KYC information, that's how they block you. The other exchanges research you silently.
>unless you can't prove where you got the money
How would you prove that? You had bitcoins in your wallet, you send it to an exchange. Do you have to prove the whole chain of buying bitcoins? That would be impossible, especially if you're trader.
>take a flight to a normal country where you can do cash transactions
10k USD is allowed cash amount when you're crossing border.
Levi Hall
Also, what if I prefer to stick with stable coins? I will be able to cash out with no rush then.
Kevin Perez
Just confess to your crimes / money laundering.