Would this be a decent method of cashing my BTC out?

  1. Take said BTC and transfer it into another wallet on an exchange
  2. Use exchange account acquired with falsified information and ID
  3. Exchange BTC for LTC to minimize the impact of fees
  4. Bounce LTC around to 3 or 4 different wallets
  5. Use another falsified account to exchange LTC for ETH
  6. Sell ETH for USD and slowly deposit wallet's balance into my bank account on a monthly basis (say $2,000 per month into a seperate savings account.) as to not arouse suspicion by transferring large amounts into a bank account at once.

Note: I believe it will also help that I have employment that is well-paying so my clean money mixes with my dirty money.

Can anybody weigh in on this?


Comments


[6 Points] _PrinterPam_:

Take said BTC and transfer it into another wallet on an exchange

You haven't provided certain other details which might be important, but...whatever.

Use exchange account acquired with falsified information and ID

Boy, are you asking for trouble here.

Exchange BTC for LTC to minimize the impact of fees

You already have the funds on an exchange. What, exactly, would be the point of swapping currencies at this point?

Bounce LTC around to 3 or 4 different wallets

Tin-foil-hat day was Tuesday.

Use another falsified account to exchange LTC for ETH

See response #2.

Sell ETH for USD and slowly deposit wallet's balance into my bank account on a monthly basis (say $2,000 per month into a seperate savings account.) as to not arouse suspicion by transferring large amounts into a bank account at once.

Sure, apart from the #4 response. Though the 'tripping-point' in the US for suspicion actually starts at 10k+, where any/all financial institutions are required to file a Suspicious Activity Report (SAR) to the federal government. Though they have the option of doing that anyway, should they detect 'anything' unusual.


[4 Points] stonedbuyer01:

if po po on your ass than none of this matters


[2 Points] tracersinvizion:

Make an account with uphold.com or gemini.com and link your bank to it. Or use bitquick.co and sell on there


[1 Points] -YOUpeople-:

Steps 2-5 aren’t necesaary. Why use an exchange with falsified info at all? Use an exchange that doesn’t require ID to convert from BTC to alt currencies. Changelly or shapeshifter or whatever. Why use fake id at those points when the only thing you want to do is convert which can be done with no ID.

PrinterPam said it best - there are technical details and the IRL laundering details. Step 2-5 is your attempt at breaking the chain. Fine and good. Th second part is legitimizing the coin at cashout which is the last step and tricky part. Once you’ve broken the chain you still need to be able to cash out and potentially explain the source of funds. Also like printer Pam said, financial institutions are mandated to report certain transactions but they can and do report smaller transactions they deem suspicious as well. If it looks like you are structuring to avoid reporting limits, that’ll get reported.


[1 Points] Excill-:

If you have a bitcoin atm(s) near you, you can sell usually up to $400 per sell instantly without ID. You can do multiple sells as usually there is no limit (at least for me).


[1 Points] DeadWifeHappyLife:

Just transfer to xmr and avoid all the other bs?