Regarding prepaid cards loaded with cryptocurrency

Hypothetically speaking, if I had 100k in crypto and wanted to spend it just on every day normal shit, nothing grand that would attract crazy attention, what's the consensus on the extent of the use of prepaid credit cards like bitpay, goldmoney, etc. that can be loaded at any time from a crypto wallet?

My first inclination is obviously under 10k per month, as that's always a magic number for government to keep an eye on. Obviously don't want to be doing 9985, 9957, 9986... every month as that's stupid as fuck too. But between 5k and 7k a month, broken up into several smaller random deposits seems pretty reasonable, or am I too fucking retarded for my own good?

The way I see it, worst case scenario is the govt notices it and contacts me regarding the source of the funds. Using different coins, transfer techniques, and a rock solid story about how I invested a few years ago, forgot about it and just looked given all the press crypto is getting and discovered a decent chunk of value had accumulated. Then, would just have to claim it and pay some tax and a fine and then I'm in the clear to use it as it's claimed income?

Debated posting this in the cryptocurrency subreddit but I know DNM regulars are far more nefarious.

Appreciate any dialogue.


Comments


[42 Points] Lil_Tricycle:

Only rock solid option is to say you gained the money by making private gay porn videos for a client and was always paid in bitcoin. If they demand proof you'll either have to willingly throw a few clips together, if not then you'll unwillingly be in the same role anyway.


[8 Points] SpiffyWhiff:

If they are US based companies, I wouldn't do it. They treat anything connected to debit card as a bank account for IRS reporting purposes. Bitpay requires full SSN and confirmation of your mailing address. You'd probably get away with it if you spent it over a couple years, as the IRS is way understaffed and tends to go after bigger targets, but you never know if they'll just subpeona all records like the IRS is trying to do with coinbase. In the end they probably will give records on everyone who transacted over a certain amount, they've been negotiating.

I think people use polish prepaid cards that you can with somehow load from BTC.


[5 Points] CognitiveDissident7:

Sell some coin for cash in person, buy stuff with cash. Alternatively just buy stuff directly with bitcoin, purse.io allows you to spend bitcoin on Amazon and you can get a discount.


[3 Points] throwahooawayyfoe:

and a rock solid story about how I invested a few years ago, forgot about it and just looked given all the press crypto is getting and discovered a decent chunk of value had accumulated.

That particular story will only work if you can show them a wallet you control that's been sitting dormant for a long-ass time.


[2 Points] dookiedonkey:

you will be contacted by DHS, who will interview you regarding depositis. Unfortunately they pay attention to even small amounts. I hear monero is a good middle ground.


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[1 Points] AlottaGoodman:

I'm honestly of the opinion that your story of the old investment that you recently found is pretty rock solid. It's n

I'd definitely run it through monero and through a Cryptocurrency exchange and then back to monero then to bitcoin over the time you're doing this, but like you said worst case scenario you say sorry, pay the taxes and most likely a fine and you're on your way.

I would definitely try to sell as much of it for cash as possible but I get that some people just don't like doing that.

You have a good program to have, if this is actually legit.


[1 Points] revcback:

Unverified prepaid cards have lifetime limits. To get these limits removed, you need to verify your account with ID, which defeats the purpose.