How do vendors wash their diddy monies?

I'm aware of the process of bitcoin laundering (sharedcoin, bitcoinfog) but once the money is washed then what? You just send the money to your bank account via coinbase or something?

How do you exactly explain the movement of hundreds of bitcoins out of no where and then depositing that to your bank. Like if you wanted to pay taxes and chit. "oh hey, don't mind me, just moving tons of bitcoins that came out of no where hur hur hur" Are there any safe methods vendors use to get there money in the clear?

Excuse my ignorance, I'm just generally interested in the process.


Comments


[2 Points] None:

It's just like washing regular drug money, ou can tell who's the computer people and who the real trap stars are here lol. The best way is to have a business tht is legit an accept bitcoin that wag you can wash your cleaned btc thru your say security consulting firms transactions, but the key is to have a real business to help obsecure th recent influx in btc from no where. It's not an easy task, but anyone smart enough to get a large enough amount of btc that would throw red flags would also be smart enough to launder it lol and you can always say you bought all hose coin when they were only .99 ech haha


[2 Points] blueskykin:

They most likely sell their bitcoins in bulk to someone who sells them in small amounts on localbitcoins and makes a nice profit.


[1 Points] None:

you gotta get creative, you cant just cash them out all at once, you have to sell some locally and on different exchanges.


[1 Points] oVerde:

localbitcoins.com and sell them, easiest way to do it without suspects'


[0 Points] None:

how are they going to come here and spit out their most guarded secret. They can get caught. Whatever they do with the money after tubling the coins should be their business alone. Posting about it on here would be really bad opsec.


[-1 Points] 666fun:

Or buy some mining equipment from somewhere.... Butterfly Labs, even old GPU's, and say you mined them years ago and want to sell them now.