Quote from: TheNewAnon135246 on June 17, 2017, 08:40:33 AM

Quote from: Otoh on June 17, 2017, 08:27:34 AM

Quote from: aomine95 on June 16, 2017, 09:43:38 PM

Quote from: Otoh on June 16, 2017, 05:37:15 PM

Quote from: Aristo on June 16, 2017, 04:57:50 PM

Quote from: Otoh on June 16, 2017, 04:30:32 AM

The hardest part of all this I've found is still the link between digital currency Exchanges and the legacy banking system, three banks have arbitrarily closed down my accounts in the last year, one that I'd been banking with for over forty years, though I never did any virtual currency stuff through some of them so I don't know for sure why that was, but I finally found a way to safely move funds to fiat that was also acceptable to the system in place currently, at least so far, touch wood.

edit to add: shout out to Niel at Mysteries, Covent Garden, London, UK

Good job on your holdings! I only have peanuts, but, I'm still concerned about moving funds to fiat. Can you elaborate on moving funds to fiat? I'm considering Coinbase to Bank Account.

That should be perfectly fine for those sort of amounts, even up to mid size np.

IOTA added

http://i.imgur.com/gJ9aPja.jpg

Hey, could you explain how to take large amounts out of crypto? Most exchanges have limits of 50k per day and that seems very hard to take 5M out, yet alone 100M.

I have a limit of $100k per day on Polo, it needed a Skype interview etc with their compliance guy, I'm trying to up it atm but they're swamped and unresponsive recently.

I can take out any amount from Bitstamp, ie last withdrawal was > $1.1MM but they keep thinking up new hoops for me to jump through, latest was that I had to sign messages from the BTC addies that I've used for years to prove that they're mine, but with patience one can get 7 figure amounts out, cost $915 in BS fees though, usually takes 4 biz days to be in my bank account.

The main hurdle is finding a bank that will not freak out when regular large amounts come in from Bitstamp's Estonian bank which raises red flags for them and also when you open bank accounts, especially USD offshore ones, they ask you to estimate how much you're likely to be paying in each month, this is impossible to estimate due to crypto volatility without unnecessarily restricting yourself, so when I estimated $250k per month and paid in $500 to $750 as I'd just found a property that I really wanted and BTC was at an ATH that also freaked them out.

When you get to amounts like $100MM you are in the 0.1% and everything becomes possible then and a good wealth manager will make all the intros that you need so long as you can prove that your wealth was obtained legitimately.

Did you ever ran into issues with the IRS asking where your crypto comes from?

No, one I'm not an American citizen or resident & two I relocated to a zero capital gains tax jurisdiction before cashing any out, no income tax returns (declarations) there either which is great as it would be a PITA to try and keep records of the trading that I do. I assume that you meant this rather than where the crypto comes from, actually maybe you did mean exactly what you asked, that's something that the Exchanges are more concerned about but luckily I have quite a public record of my early involvement and details/proof/screenies etc of fiat transfers to old Exchanges like Britcoin ($3/BTC in 2011), Gox ($5 in 2012) etc, posts on this forum and so on, but even with that many banks arbitrarily closed my accounts and wouldn't tell me why, it's a bit like playing wack-a-mole and I endeavor to open new accounts faster than the old ones get terminated.