Silk Road forums
Discussion => Security => Topic started by: Bigface689 on September 01, 2012, 04:18 am
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Ive been thinking of selling, Im just not 100% on how to turn Bitcoins into cash anonymous. Please help ;)
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Hey, You can always turn your BTC into gold, and then the gold into cash!!
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The lengths that you will need to go to to ensure your anonymity will depend on the volume of money that you will be making. If you are not a high profile vendor and are just trying to make some money on the side, then using BitFog would probably be sufficient before routing your coins to a few different wallets and bank accounts to cash them out.
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If you are not a high profile vendor and are just trying to make some money on the side, then using BitFog would probably be sufficient before routing your coins to a few different wallets and bank accounts to cash them out.
How much money would you put at the "higher" threshold?
Modzi
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I say over 5 grand and you might be looking for trouble
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I say over 5 grand and you might be looking for trouble
So rolling through over 5K per month, then what extra precautions?
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I would think $5,000 per month would be too much. Wouldn't that get the attention of the IRS? Maybe you could break it up and send it to a few friends accounts and give them a portion of the money for their troubles.
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The truth is dealing with bitcoins it not as anonymous as we would like.
no matter what you do with them (besides spending them online once you have them) there will be a paper trail...
you are talking about moving 60k a year to a bank account...
thats just insane!!!!!! unless this bank account is offshore your gonna run into some major problems, if you start to deposit 1250 into your account each week at the end of the year or two or three sooner or later uncle sam is gonna come around and ask alot of questions... Do you have the answers???
I suggest buying gold. you can buy it with bitcoin.. sell it almost anywhere and not worry about losing too much to "clean" your money.
Hope this info helps.