Silk Road forums

Discussion => Security => Topic started by: UKclones on May 02, 2012, 09:46 am

Title: Cashing out bitcoins
Post by: UKclones on May 02, 2012, 09:46 am
So let's say I have hypothetically amassed some bitcoins I want to convert to cash. What is the most anonymous method of cashing out?
Title: Re: Cashing out bitcoins
Post by: h4xx on May 02, 2012, 10:27 am
Become your own exchanger. Get WoT rated and start accepting mailed cash or cash in person for them.
If it's a serious amount of coins open a bank account not in your country and get locals to deposit cash for coins, or slap a payment gateway on a website to take local European payments and have them wire it to your bank totally legally.

Now you have clean legal funds, can even declare tax on them and be a regular citizen. If you're in the Uk, tons of people there need coins. Start a site UK2BTC.com and sell in london all day or w/e you live. Sell them to Intersango and declare the money as online advertising income. No need to hide it from tax people, launder the coins and they're clean. Nobody knows they came from drug sales. This is the beauty of bitcoins. It's not centralized nobody can check bitcoinreserve.com and see your account and who paid you they have no clue who paid you or for what.
Title: Re: Cashing out bitcoins
Post by: energyimport on May 02, 2012, 01:49 pm
Hey dont mean to thread jack or anything im rather new here and Im trying to understand all this stuff.

what about if its a small amount (hell what even constitutes a small amount?) How do I just get my bitcoins to cash in general, do they mail me a check? I saw some stuff about getting a wire transfer sent to you but doesnt that kinda blow the whole anonymous thing out of the water?

Im just really confused as to how I would turn my bitcoins be it 500 or 5000 into actual cash in my pocket/


Thanks