you don't keep your money in Thailand, you keep them in crypto friendly jurisdiction, your tax and physical residency is going to be in Thailand though.
Can't cash out my crypto and live my life...
- Thread starter mariodraghi
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No one is going to kidnap you in Laos. It's safer than wherever you are now, guaranteed.
And no, you got it all wrong. It's always better to be rich in a third-world country, and keep getting richer with little effort.
Exactly, and also the quality of life is really high for laughable prices.
In a third-world country one can easily live a life of luxury while spending a fraction of what costs to live in a ghetto in New York.
You don't get it right. Some people need to be spoonfeed rof/%
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We are talking about millions indeed.
Because you can't really cash out multiple millions from an ATM and keep it all in cash, that's just retarded.
I'm looking to have money in the bank to invest into traditional markets and buy real estate with.
I'm still not sure what this Gold group is, to be honest.
I'm looking to get advice on how to structure my SoF documentation, So far I've only received comments asking me to pay 100 euros for some subscription, some about moving to a third-world country, and some telling me to cash out multiple million in cash at an ATM.
Last edited: Sep 3, 2023
Hi and welcome.
The problems you're facing are what a lot of crypto bros have to deal with nowadays, especially the ones that have been around since before 2016. There's no way for these people to be able to collect every transfer they've ever done, or anything at all for that matter, banks know that and banks are annoyed by that too, at least the people who work there. I've been personally told by compliance department employees that what they ask for is plain retarded.
What you have obtained legally is not so legal, that's how regulators see it. It is your fault for not saving everything. I know that's absurd, I've been in the same position as you not too long ago.
You don't need a receipt of a wire transfer, 10 years ago things weren't like they are today and even if you bought something using a transfer 10 years ago, the only exchange that's still standing from back then is Bitstamp.
What you need is a source of how you made the coins, say for example, you sold a painting and got paid for it, or maybe you sold a pdf file on how to get rich. That's it. That's the only solution you can go with, to make stuff up.
The problems you're facing are what a lot of crypto bros have to deal with nowadays, especially the ones that have been around since before 2016. There's no way for these people to be able to collect every transfer they've ever done, or anything at all for that matter, banks know that and banks are annoyed by that too, at least the people who work there. I've been personally told by compliance department employees that what they ask for is plain retarded.
What you have obtained legally is not so legal, that's how regulators see it. It is your fault for not saving everything. I know that's absurd, I've been in the same position as you not too long ago.
You don't need a receipt of a wire transfer, 10 years ago things weren't like they are today and even if you bought something using a transfer 10 years ago, the only exchange that's still standing from back then is Bitstamp.
What you need is a source of how you made the coins, say for example, you sold a painting and got paid for it, or maybe you sold a pdf file on how to get rich. That's it. That's the only solution you can go with, to make stuff up.
Thanks, the only reply that actually answers my question so far.
What is the best 'excuse' in your opinion to give banks?
I've been thinking of just creating an nft sale and just buying it all up with my other wallets.
It's crazy we have to resort to doing stuff like this but I honestly have no idea what to do.
Your idea is a good one, a bit complicated to set-up but it is going to work if done right.
The kid seems well positioned to learn this the hard way 🙁
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Because that's money laundering (?)
I 100% know what you guys are talking about, but I'm sure there has to be a way around it to legitimize something that is already legit.
I don't understand how crypto scammers are living the life, buying jets and lambos and someone like me who got his funds through legit means has to be treated like some sort of criminal trying to launder money.
I believe in crypto long-term anyway, if there is no way out I will just stick to my current lifestyle and forget about what I had planned.
Last edited: Sep 3, 2023
Already answered those questions a few replies back.
I will say it again to make it clear
- How much are we talking about?
A couple million dollars. under 5.
- Do you need/want to cash it out all at once for some reason or just trying to cover your daily expenses?
I want to cash out in 100k or higher batches, I already have a system in place to cover my daily expenses.
My end goal is to diversify my portfolio into real estate and traditional markets.
hire a great Photoshop artist and create a plausible success story how you traded your original hundred bucks on several unregulated exchanges in couple of different jurisdictions that don't exist any more, yet you have all the supporting documentation backed up as expected by the authorities, all that years ago when it was no big deal and it ended up like this
get yourself "employed" and (very) well paid by someone with a legitimate serious business who doesn't care where your crypto is coming from
buy a real business for a fraction of the real value with fiat and pay the rest in crypto to the owner who doesn't care
become a successful sports bettor and present the "right" side of the arbitrage trades
buy winning sports betting tickets
yes, some/most of it is money laundering
yes, all comes with associated cost
or let it the diversification dream go, convert to bitcoin and keep your wealth in the ultimate asset, either borrow against it or wait until nobody will care where it's coming from
In the end of the day if you can't prove SoF for the money you already have, then banks and evey other institution is going to assume it is money laundered even if it's not. Now if you just play along with that because you have no other choice, you will find solutions to legally inject the crypto as business profits or etc...
I'm pretty sure no one is going to give you an extensive guide on a public forum hence why the gold membership has been recommended.
Photoshop won't work with decent banks. Some third world banks may accept it.
Look into NFTs. Swiss laws as far as I remember don't tax any profits on them when you are a Swiss resident.
If you want to diversify - buy gold coins with crypto. Real estate also can be bought with crypto in some countries.
Stocks and bonds - not easy and high risk, you have to pass bank and broker complience every year. One year you may pass it and next year you may find your assets frozen.
Look into NFTs. Swiss laws as far as I remember don't tax any profits on them when you are a Swiss resident.
If you want to diversify - buy gold coins with crypto. Real estate also can be bought with crypto in some countries.
Stocks and bonds - not easy and high risk, you have to pass bank and broker complience every year. One year you may pass it and next year you may find your assets frozen.
buy virgin coins (for example bitcoin from the times when it was still possible on cpu or graphics, or monero) that didn't move ever since and pay for it with your current "dirty" coins + premium
Does that actually work?
All in all good ideas. But might be difficult to execute.
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