Silk Road forums

Discussion => Silk Road discussion => Topic started by: AustralianMover on December 11, 2012, 06:54 pm

Title: BTC Advice Needed: New Vendor Looking To Service Australian Customers
Post by: AustralianMover on December 11, 2012, 06:54 pm
I have some extremely good contacts IRL and want to start selling high-quality ecstasy pills, GHB/GBL, MDPV & Cocaine on Silk Road, shipped from Australia to other Australian customers via Express Post. I will be able to offer a competitive price on all of these compounds and feel that the people here will greatly appreciate my wares.

I have the packaging & postage methods, encryption techniques, etc all worked out, except for one small problem, and that is turning my BTC into AUD cash without losing a significant portion of it in the process.

In a good week IRL I might have 30-50K in cash go through my hands, but even if I only have to cashout 10K on Silk Road, that still seems like a difficult amount to process based on my research, as even MtGox will only allow you to withdrawal 10K each month. I'm thinking I might have to fund Silk Road entirely with my IRL profit, so all the BTC I take out of my Silk Road account is money I can spend rather than money i'm relying on to restock, but that would obviously limit the quantities i'd be able to offer to people on here, and I wish to provide customers the option of purchasing in bulk.

So far the only thing I could come up with was to somehow open a couple of overseas bank accounts, use various MtGox profiles to fund them and then have debit cards linked to them that I can use from ATMs here in Australia to withdrawal my funds in cash, but i'm sure there must be a better solution. I also considered putting the money straight into my bank account and creating a fake business to explain the money, but then i'd be paying a massive amount of tax and there are so many ways that could go wrong.

Am I on the right track here? I understand this kind of thing is not really talked about here on the forum (I used the search feature extensively), but can somebody point me in the right direction?
Title: Re: BTC Advice Needed: New Vendor Looking To Service Australian Customers
Post by: catfishinmysocks on December 11, 2012, 07:49 pm
These Aussies cops are persistent aren't they?

I can't think of another country where the police are so mad for going after drugs, where the people are so mad for them.
Title: Re: BTC Advice Needed: New Vendor Looking To Service Australian Customers
Post by: TheBusiness on December 12, 2012, 02:17 am
You should pay tax.

I know, I know... nobody wants to pay tax, especially to fund an anti-drugs government.

But if you are a certain sized business (and it sounds like you are), then you have to play the game. That will involve paying some tax. It's just like if you run a legit business and you start making over 50k annual, you have to register for GST.

The ATO has algorithms to detect when individuals or businesses who fall outside normal parameters of income and spending. At a guess, if you fall out of these parameters by 10-15% you will attract their attention. Then an audit. If you don't have a legitimate business or wage to explain all of that money in and out, your house of cards will come falling down pretty quickly.

You won't be able to rely on just one business to funnel your money either. Try to find a network of companies and people and make sure you pay good, regular tax and show a good growing or stable business. Legitimate business is great anyway, it's just like selling drugs except legal. Less stress, bigger potential. Same fundamentals. Run something you enjoy. Don't try to run everything at a loss. Use tax minimization to bring down the tax you pay, but make sure you stay within the law and the rules. Keeping your tax low isn't illegal. Hiding your income is.

Good luck.