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re: So, you've got $25M in illegal gains to hide and could be arrested at any time...
Posted on 1/25/18 at 2:07 pm to D011ahbi11
Posted on 1/25/18 at 2:07 pm to D011ahbi11
How long you think it would take an ATM to process $25m cash?
This post was edited on 1/25/18 at 2:08 pm
1
Posted on 1/25/18 at 2:07 pm to D011ahbi11
quote:
"They have bitcoin ATM's"
that max your daily deposits at $3k/day and require 2 factor phone verification and the scanning of your ID (not a good way to lay low). If the premise is still to quickly wash $25MM, this would 8333 days.
Posted on 1/25/18 at 2:12 pm to Whale Breath
They don't all require scanning of your ID but yea, it would not be done quickly. I never argued it would. Was just stating that you can buy crypto with cash. There are other options too but I believe they also have similar limits to 3K a day.
Posted on 1/25/18 at 2:16 pm to Whale Breath
I’m not talking about ATMs. If you wanted to sell me your crypto all I need to do is provide you my address. Which can easily be transferred without coinbase and the like. We can meet up and do this if you’d like. Or I can start a business accepting crypto, that works too.
Posted on 1/25/18 at 2:16 pm to Jim Smith
quote:
You've got $25M in cash that you need to park somewhere. It has to stay liquid so the feds can't find it and seize it. Where do you put it? Where do you flee to?
pick any self-storage place
pay 5 years in advance in cash, or however many years you need
hiding a key is much easier than hiding $25MM
Posted on 1/25/18 at 2:30 pm to 13SaintTiger
quote:
If you wanted to sell me your crypto all I need to do is provide you my address
This is obviously an extremely basic concept, but the question is about washing $25MM in cash. Where are you gonna find someone who wants to take on your problem of dirty cash/sell their ~2200 BTC?! 1) anyone who has that much BTC is laying verrrry low so you aren't going to find them, 2) they're HODLing. lol
Posted on 1/25/18 at 2:33 pm to D011ahbi11
my point is, it's easy to be relatively anonymous with crypto currency once you have them but extremely tough, if not impossible, to anonymously to turn a significant amount of USD into crypto.
Posted on 1/25/18 at 2:39 pm to Jim Smith
I'm not telling you... Then you'd know where I hid it.
Posted on 1/25/18 at 2:43 pm to Jim Smith
quote:
But where are you going to hide when the heat comes?
Here is 1 million to scale, 25 is not like you are hiding barrels and barrels of money
in gold that would be like a little bit larger than a normal sheet of paper stacked about 18" high
Posted on 1/25/18 at 2:44 pm to slackster
quote:
Plus, you're going to take a bath on whatever hard assets you buy. You can buy a 1 CT diamond without an issue, but paying cash for $100k+ diamonds will be a problem.
Also, the resale value of a diamond is terrible.
Posted on 1/25/18 at 2:50 pm to LZ83
quote:
Bury it in a plastic tote.
It's 551 lbs of cash. That's quite the fricking tote.
If you stacked the 100s one on top of the other, it would be 27 yards high. It is a lot of cash. I don't think people appreciate the sheer volume we're dealing with here.
quote:
I assure you, something gets lost in the translation.
This post was edited on 1/25/18 at 2:55 pm
Posted on 1/25/18 at 2:54 pm to SaturdayTraditions
quote:
Also, the resale value of a diamond is terrible.
Yeah, unless you know someone in the diamond distribution business I guess. Once you buy a diamond it's tough to sell it for what you paid for it unless you know the right people.
Posted on 1/25/18 at 2:55 pm to cave canem
quote:
Wrong, all transactions over 9,999.99 are required to be reported, there are others triggers as well.
$0.02 off...it is anything $10,000.01 or more that has to be reported, and only transactions in cash.
Posted on 1/25/18 at 3:18 pm to Peazey
Not an expert at all but in this day and age I don't know if it is possible for a non-crimelord (someone who runs some level of criminal enterprise) to clean that much money without losing at least half the money in "transaction fees".
Shady lawyer cut, shady finance guy x3 cut, shady business owners x5 cut, that adds up fast, especially with the levels you need separate yourself, i.e. "The Bank" from "The Street" where the actual transactions happen. If I was in that situation I would be happy to end up with 6-8 million clean in 5 years after everything and taxes if there was no risk of prosecution when finished.
Shady lawyer cut, shady finance guy x3 cut, shady business owners x5 cut, that adds up fast, especially with the levels you need separate yourself, i.e. "The Bank" from "The Street" where the actual transactions happen. If I was in that situation I would be happy to end up with 6-8 million clean in 5 years after everything and taxes if there was no risk of prosecution when finished.
Posted on 1/25/18 at 3:20 pm to Whale Breath
Geeze man, you don’t have to find one person.
You do realize crypto intially started out as a hotbed for criminal activity? It still is.
You do realize crypto intially started out as a hotbed for criminal activity? It still is.
Posted on 1/25/18 at 3:31 pm to saintsfan1977
quote:
I could go to academy every day and spend 5k and never have to worry
Brilliant strategy. Slowly invest the whole thing in Yetis.
Posted on 1/25/18 at 3:54 pm to TigersFan64
quote:
It's great that bullshite was finally stopped. The filthy rich already have enough ways to hide money and not pay their fair share of taxes
You're a fricking commie
Posted on 1/25/18 at 4:19 pm to 13SaintTiger
quote:
Geeze man, you don’t have to find one person.
where is the facepalm emoji on this message board
Posted on 1/25/18 at 5:15 pm to Whale Breath
quote:
where is the facepalm emoji on this message board
You clearly articulated you don’t understand cryptocurrency at all and you think I’m deserving of a facepalm emoji
Posted on 1/25/18 at 5:43 pm to 13SaintTiger
I just give it to my wife.
POOF!
No one is finding it.
POOF!
No one is finding it.
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