How do vendors turn their bitcoins into cash?
Do they sell on LocalBitcoins?
Vendors cashing out
How do vendors turn their bitcoins into cash?
Do they sell on LocalBitcoins?
[7 Points] Wanted_drugs_2day:
[4 Points] None:
if we could tell you exactly how its done then LEOs would know better and we would not be here discussing this.
I can see up-to-date underground mafias and terrorist organizations being the masterminds behind the curtains in some cases. I doubt its any more different than old-fashioned money laudering, tho.
EDIT: I mean, the russian fucking mafia used team fortress' hats, everything goes when it comes about fooling the most powerful agencies in the world.
[1 Points] 180K:
Wouldn't it be ironic if you bought your bitcoin on LBC from your dealer unknowingly, then bought the merch. With the same bitcoin? Ha ha Just watch the blockchain, see how much btc/usd floating around the bitcoin universe.
[0 Points] gigicup:
OP, what alphabet you work for?
[-1 Points] Wanted_drugs_2day:
This post is the equivalent to "how to do internetz drugs".
Some probably do. Some probably have fake bank accounts hooked to exchanges. Some probably just use their btc to buy product that is most profitable in their area and sell for cash and a higher profit margin IRL.
Some probably have a way to use btc atm's. Some have cover businesses that accept bitcoin as payment such as freelance web design and such.
Some work for the goberment and use their fed status to strong arm companies into not filing suspicious activity reports.
I assume that all of these are correct or absolutely none of these. I'm pretty sure a vendor isn't going to hop on here and tell us how they do it lol