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

Discussion in 'General Discussion' started by Xantasmine, Nov 9, 2021.

An unknown person randomly deposits 10BTC into your wallet. What do you do?
  1. Unread #1 - Nov 9, 2021 at 7:10 PM
  2. Xantasmine
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    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).
     
  3. Unread #2 - Nov 21, 2021 at 12:06 AM
  4. MohtasaUnique
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    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.
     
  5. Unread #3 - Nov 21, 2021 at 1:38 AM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    Withdraw it and put it straight into my TFSA and RRSP accounts then buy options with it of course.
     
  7. Unread #4 - Nov 21, 2021 at 6:40 AM
  8. Lucky Charm
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    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.
     
    Last edited: Nov 21, 2021
  9. Unread #5 - Nov 27, 2021 at 11:16 AM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    use it to buy stuff that can be bought with btc.
     
  11. Unread #6 - Nov 27, 2021 at 11:52 AM
  12. here4money
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    i would cash it out and pay taxes (not sure what i would say when the bank asks me where i got it from)
     
  13. Unread #7 - Nov 27, 2021 at 12:32 PM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    cashout, pay taxes-invest in something that can earn you money in the long run :)
     
  15. Unread #8 - Dec 8, 2021 at 2:15 PM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    tax evasion.
     
  17. Unread #9 - Jan 5, 2022 at 12:29 AM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    Buy dogecoin
     
  19. Unread #10 - Jan 13, 2022 at 8:12 PM
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    An unknown person randomly deposits 10BTC into your wallet. What do you do?

    Dispribute it, spread it over multiple posts, wouldn't invest all.

    Invest in:
    *real-estate (buy one or two appartments)
    *any promising project/business
    *a mining farm (if that's still a good investment; would have to do more research)
    *and so on...
     
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