Quote from: darkangel11 on January 20, 2018, 05:46:39 PM

Quote from: Olegnar on January 19, 2018, 11:18:14 PM

How the government can differentiate me from drug dealer, illegal weapon dealer etc?

It cannot, but it also can't prove that you're one of them. You're innocent until proven otherwise, right?
We've been using cash for centuries and how did the government know where this cash is coming from? You could be a drug or arms dealer or a hitman. Yet billions of people were dealing in cash every day and many of us have made large cash payments. I remember when I was like 18 my parents gave me money in cash and told me to set up my own savings account. It was like 5000, a huge sum for a teenager to be carrying around. I went to the bank, placed it on the counter and nobody asked me where it came from.

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They don't know what is the cryptocurrency, well they know but the law doesn't know. A prostitute will not buy 5 houses and 2 Bugatti's or Lambos. Prostitute will not have the same problem. Let's say I want to cash in a large amount of money, millions.

Are you sure? Do you know how much expensive prostitutes in Dubai are making?

Well 5000 won't be suspicious even for a kid. How much did you cash in?
My friends withdrawing money through the bank in smaller amounts, 500, 1000, 2000. One of them pulled out about 100k in one year and still nothing happened, but he is waiting for them, Well he got lot of money so he's not worried.
I'm avoiding banks like most of the people. We send coins to local dealer and he gives us the money. Most of my trades are in smaller amounts like thousands or tens of the thousands of dollars. With dealers it is possible to switch much larger amounts, millions, direct trade. When trading many coins with million or two of dollars you can't simply go for a drink and do the exchange, but you meet with the person through third person who organized the meeting.
Many smaller amounts through the bank whats the point? I'm not interested in that and the guy explained above in the comment that in US is not possible. In my country I spoke with one of the bank manager and he said that big eyes follow everything. Any suspicious activity is monitored. You can't send thousand transaction with 100$ and don't bring attention to yourself, you will need to explain some things or they will froze your account, at least in my country.
Example one way for a small dealer to bring the money is to go to the in the neighboring country with 4 other dealers. They can bring 10000$ across the border without the explanation. Doing that many times banks in that country banned some of the accounts because they were withdrawing many times 10k from their own accounts. They were pulling out the money constantly from that bank.
So imagine large amounts of cash flowing from the bank from one country to another country every day. Bank blocked those accounts like Ben Wallace from Detroit Pistons in his prime (search the google if you don't know who is he). They switch to another bank, but hey how many times they can do that?!

Oh and prostitutes in Dubai. I know how much they earn, but don't ask me how I know, please. But the thing is, same those prostitutes know most of the politicians on important positions so they will not have the tax problem believe me Smiley

So my problem remains. Smaller amounts are good for everyday life,but I'm not interested, because I have the guy (dealer) for smaller amounts. I can't withdraw large amount of money through the bank, I can withdraw the larger sums through the dealer, but I want to legalize larger sums or if you like my 12 houses and 5 Bugatti's. I want to pay my tax for my crypto but I don't have that option.
I can launder my money through the company, but the calculation is like this. 10% goes to the company with which you are washing your money (mostly 10% in some cases may be different), 20% legally for paying tax for selling your goods (tax refund is possible in some cases, but no one messes with this because is risky) and 20% you pay for the taxes for your yearly income that is greater than 20 or 40k. This is ok option for starters, but is expensive.

Yes I have spoken to my financial adviser, but any help is much welcomed.