Silk Road forums

Discussion => Newbie discussion => Topic started by: Jayblunted on May 28, 2013, 05:08 am

Title: Safest way to convert BTC to cash without raising any flags?
Post by: Jayblunted on May 28, 2013, 05:08 am
Hi All,
Im just after some methods of trading Bitcoin to cash. Im aware you can use several different exchange markets and deposit direct to your own bank account but when its begins to reach a few thousand $ every month Im sure the bank or any govt or LE would detect these transactions and could start investigating.
I am building a little fortune of BTC but I dont know how to convert it to cash currency without revealing my identity doing it. I do not want to set up a false bank account or commit any kind of fraud that would just make things worse if I were to be busted. So how can it be done?
I know there are vendors out there making much much more than myself and must have the same issue or have a way around it. Thats what I want to know, how can you safely convert BTC to $ without it being a recorded transaction with your name attached to it.
Maybe setting up an offshore bank account that can be accessed safely from my home country via ATM's? I cant figure this one out. I know my bank details are being observed and probably the few transactions Ive already deposited via BTC exchanges have raised an alarm or my account may be flagged already. So I dont want to deposit into an account under my own name that can be monitored by the Feds or Tax Dept or a suspicious bank manager...
Please some advice.
Title: Re: Safest way to convert BTC to cash without raising any flags?
Post by: Icarus2.0 on May 28, 2013, 05:23 am
there is a user looking for people to sell him bitcoins in exchange for cash. You send him coin in escrow, he sends you cash. I haven't personally used the service, but it could be what you are looking for. I want to say he goes up to $5k per transaction after you prove trustworthy and/or get your buying stats established.
Title: Re: Safest way to convert BTC to cash without raising any flags?
Post by: Icarus2.0 on May 28, 2013, 05:31 am
look up USDexchange...that is what you are looking for