Post
Topic
Board Bitcoin Discussion
Re: Cashing Out Thousands of Bitcoin
by
darkangel11
on 28/09/2023, 19:32:56 UTC
They are worth 130 million. You have zero need to hide your wealth from the government assuming it is a quasi legit country..

135 to be exact
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Mixing and hiding shit at these levels do not make sense.
Makes a lot of sense if you're a libertarian living in a socialist country where they can steal your money. Ask Canadians who were collecting money for truckers if they feel safe while their government steals their hard earned money.

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Just keep cashing at a steady pace and buy bonds and some stocks. Also you need legal advice at this kind level.
Sell your bitcoin so your government can tax you and then give them a loan by buying their bonds. That's the last thing I'd do.

Let's speculate for a while.
I have 135m and I really hate bitcoin and want to spend all my coins.

First thing, I'd move to a country with no bitcoin tax like El Salvador or Germany.
Then I'd try to look for companies that would take my money directly and try to get expensive real estate, maybe buy a hotel, or invest in one. I'd put money in local businesses like restaurants, pubs, buy a part of the beach, or some other local attraction, like a ski resort, or a lake. I wouldn't turn my coins into fiat, that's just dumb. Fiat is inflationary and taxable and requires a third party custodian.
I might open a few bank accounts and put a million on each, just as a backup but most of my wealth would be in physical form.