An unknown person randomly deposits 10BTC into your wallet. What do you do?

10 BTC as of today (10/11/2021) is £493,502.28.

A random person deposits 10BTC into your wallet address.
What do you do?

What is your thought process, do you declare it to the Government, report it to the authorities?
How do you get away with exchanging 10BTC into cold hard IRL cash?

(this is not meant to be a guide, just a fun conversation starter).

 

draw it out, pay legal taxes, and put it in a Roth IRA.

It'd probably accrue more to remain as BTC, but I'd rather contribute to a more stable retirement investment.

 

Withdraw it and put it straight into my TFSA and RRSP accounts then buy options with it of course.

 

Exchanging it for real life cash would cause problems. The first thing the authorities (bank) will ask where you got the Bitcoin from and they would ask you to give proof that you bought this 10 bitcoin somewhere. You will not have this proof and hence you look like you either are hiding illegal activities or income generated online.

Most likely you want to hold this and sell it of by bits, use bitcoin cash ATMs or get a setup where you launder it from a foreign bank. You can also buy a lot of stuff with Bitcoin from websites etc.

 

use it to buy stuff that can be bought with btc.

 

i would cash it out and pay taxes (not sure what i would say when the bank asks me where i got it from)

 

cashout, pay taxes-invest in something that can earn you money in the long run

 

tax evasion.

 

Buy dogecoin

 

HODL it for sure

 

Invest as much as I can. I'd put them in stocks and make enough to invest into real estate.

 

Just save the money and not waste it on dumb things, lol

 

you people are stupid for hodl btc is fucked