Silk Road forums
Discussion => Security => Topic started by: bigpoppa on November 13, 2012, 12:55 am
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Is there a thread someone could point me to regarding the best process of obtaining / withdrawing bitcoins in to real life money?
Also a side question - Say I obtained 20 grand or more worth of bitcoins, do you need to cover your tracks when withdrawing this money - I saw a thread where a guy was giving up 20 percent of his bitcoins for help withdrawing it because it was too large amount that it would gain attention from the feds?
Thanks to anyone that takes time to help me out - really appreciate it.
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You probably won't get much help, honestly. You may actually get the opposite. Folks are pretty secretive about their methods of doing that, since once they're all known and controlled or eliminated, nobody makes USD anymore. And I love Bitcoin, but let's be honest... today their only use is a thousand random sites online that accept them for things like drink cozies, and making USD with them (or buying drugs).
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If you take 20k of bitcoin out on Mt Gox or something, people will start to notice. Not as much as if you took 100k, but I wouldn't doubt your name would end up on a list somewhere. Also, it would be incredibly challenging to turn that amount into USD while staying anonymous.
Each vendor has their own way of doing it, but very few will ever share that.
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Well I have posted pictures of my stash and I pick up a 1 - 2 kilo at a time of coke, so I will be needing to withdraw huge amounts, not even gonna get started in this online thing though if I can't figure out some answers for this :(