Greetings, im looking for some help in this hypothetical scenario:
-You get involved in BTC 10 years ago and got paid in BTC for what's basically affiliate marketing/advertising of sorts. For instance, you wear a signature here on this forum for some service (a casino, an altcoin project, a mixer, a miner, airdrops etc) and get paid in BTC for small amounts
-Got tons of small payments
-Do a bit of playing around in exchanges that no longer exist with trading
-Mined some old altcoins whose blockchains probably no longer sync and sold them
-Most of the funds are just coming from these small payments that just grew in fiat valuations as the price went up
-Most of the funds can be tracked to the addresses where you applied to get paid into, but some cannot be found anymore (for instance, you were paid within a website that no longer exists, forum post containing your address was deleted, etc)
-You have proof that you were involved in this since 10 years ago in the form of some emails of screenshots of early exchanges and in at least one you used your name but no KYC for the transactions maybe except a very small purchase in one
-You still have access to the accounts used to participate in these marketing/advertising activities, the website were the affiliate marketing/advertising took place still exists and your payments can be tracked there but there's definitely some information that got lost along the way and everything isn't fully traceable
-A small amount was mixed to pay as if you don't do this and pay someone you are revealing your funds to an stranger, but most isn't mixed, you were just trying to learn how utxos work as well, luckily a small % but just adds up to the mess of trying to trace everything to the penny from the start to the last payment
-The amount has entered 7 figures
Any ideas? Basically, legally obtained funds, but no KYC, been sitting there for years. The problem is how to be able to sell any amount you want and put it into a bank which can allow you to diversify in other assets (real state, stocks) and also how to deal with government/tax wise. You want to pay any required taxes and do things legally, you just want to reasonably not want to be labelled a criminal by default for being a pioneer in this technology and you just want to be able to leave this legacy to your family beside being able to enjoy some of it your self.
I have heard a lot of people in similar situations and there is never a clear answer. Im not sure if they solved their issue and just disappeared and didn't update their threads. Some included:
-Sell for cash in ATMs/p2p transactions: Not a solution, since you want to be able to diversify this money in other assets and ATMs and p2p you don't consider safe anyway.
-Buy stuff directly with BTC: I don't see how this solves the problem since they will ask you where this money came from. If someone is willing to accept BTC for real state, then I guess this bypasses the bank problem, but you still need to clear things up with the taxman, and it doesn't let you diversify in other assets.
-Sell it as cost basis 0 and they will not care: This seems like an huge gamble, and I doubt they will not care. There's also the exchange issue, many people get their funds lock in Coinbase for instance.
-Move to X location: If you had some reasonable guarantees then I guess it would be worth the try, but it's not clear that the banks and government are ok with this situation. For example, some people mention Dubai, however, I've found others saying Dubai banks are not crypto friendly. Others say Switzerland, explaining that the process was smooth, but you never know the exact situation, each case is different. I guess it also depends on your contacts, and you don't have that much to have someone mediate for you with a bank, and then there's also the gov aspect to it. Just imagine, you do the whole trip, plan things and so on, only to arrive and find out you cannot do it. You would need to know if it's viable before committing to that. There's also the fact that you cannot show up there with nothing but some BTC in a wallet I guess. Luckily you have some savings, enough to live from for some years without an income and you could put this money into dividend paying stocks meanwhile and try to survive with a very frugal lifestyle as you solve the situation, but do not meet your typical 1+ million investment on the country to get a tax residence requirements of many jurisdictions that may be interesting in this case, and ideally you do not want to move to places like SEA or South America. You would prefer some place in EU (as you would be already EU based in this example), but if there are 0 options there, then I guess you will need to do something, as you cannot just ignore this money there doing nothing forever and it gets increasingly absurd as the price increases and you are stressed with money problems as you need to help your family and pay for stuff when you have retirement money stuck there.
Those are some options that are mentioned. Others of course include other more exotic approaches like the use of companies, NFTs, swapping keys for freshly mined keys for a premium (this seems very risky) and whatnot, but you would want to not have to resort to that. It is insane how you are treated like some sort of criminal by default when you just did some affiliate marketing for small payments and now you are trying to cash out on this because the token you got paid on did a 60000%. There has to be a way to do this. There's more and more people with these stories out there and as the price increases we will continue to see more. Anyone reasonable would understand people in this situation want to pay taxes and do everything legally but it's only fair to worry about being labelled a criminal and end up with their money confiscated so they want to look for some guarantees that this can be done properly.
TL;DR: Hypothetical scenario in which you have low 7 figures of non-KYC legally obtained BTC which you want to be able to diversify in real state and other investments and be able to spend them so you can enjoy this wealth and your family can inherit it instead of it disappearing into the ether (and even if you passed them the wallet and somehow learned how it works they would face the same problem).
If anyone knows people that have solved similar situations please let me know and PM if needed.
-You get involved in BTC 10 years ago and got paid in BTC for what's basically affiliate marketing/advertising of sorts. For instance, you wear a signature here on this forum for some service (a casino, an altcoin project, a mixer, a miner, airdrops etc) and get paid in BTC for small amounts
-Got tons of small payments
-Do a bit of playing around in exchanges that no longer exist with trading
-Mined some old altcoins whose blockchains probably no longer sync and sold them
-Most of the funds are just coming from these small payments that just grew in fiat valuations as the price went up
-Most of the funds can be tracked to the addresses where you applied to get paid into, but some cannot be found anymore (for instance, you were paid within a website that no longer exists, forum post containing your address was deleted, etc)
-You have proof that you were involved in this since 10 years ago in the form of some emails of screenshots of early exchanges and in at least one you used your name but no KYC for the transactions maybe except a very small purchase in one
-You still have access to the accounts used to participate in these marketing/advertising activities, the website were the affiliate marketing/advertising took place still exists and your payments can be tracked there but there's definitely some information that got lost along the way and everything isn't fully traceable
-A small amount was mixed to pay as if you don't do this and pay someone you are revealing your funds to an stranger, but most isn't mixed, you were just trying to learn how utxos work as well, luckily a small % but just adds up to the mess of trying to trace everything to the penny from the start to the last payment
-The amount has entered 7 figures
Any ideas? Basically, legally obtained funds, but no KYC, been sitting there for years. The problem is how to be able to sell any amount you want and put it into a bank which can allow you to diversify in other assets (real state, stocks) and also how to deal with government/tax wise. You want to pay any required taxes and do things legally, you just want to reasonably not want to be labelled a criminal by default for being a pioneer in this technology and you just want to be able to leave this legacy to your family beside being able to enjoy some of it your self.
I have heard a lot of people in similar situations and there is never a clear answer. Im not sure if they solved their issue and just disappeared and didn't update their threads. Some included:
-Sell for cash in ATMs/p2p transactions: Not a solution, since you want to be able to diversify this money in other assets and ATMs and p2p you don't consider safe anyway.
-Buy stuff directly with BTC: I don't see how this solves the problem since they will ask you where this money came from. If someone is willing to accept BTC for real state, then I guess this bypasses the bank problem, but you still need to clear things up with the taxman, and it doesn't let you diversify in other assets.
-Sell it as cost basis 0 and they will not care: This seems like an huge gamble, and I doubt they will not care. There's also the exchange issue, many people get their funds lock in Coinbase for instance.
-Move to X location: If you had some reasonable guarantees then I guess it would be worth the try, but it's not clear that the banks and government are ok with this situation. For example, some people mention Dubai, however, I've found others saying Dubai banks are not crypto friendly. Others say Switzerland, explaining that the process was smooth, but you never know the exact situation, each case is different. I guess it also depends on your contacts, and you don't have that much to have someone mediate for you with a bank, and then there's also the gov aspect to it. Just imagine, you do the whole trip, plan things and so on, only to arrive and find out you cannot do it. You would need to know if it's viable before committing to that. There's also the fact that you cannot show up there with nothing but some BTC in a wallet I guess. Luckily you have some savings, enough to live from for some years without an income and you could put this money into dividend paying stocks meanwhile and try to survive with a very frugal lifestyle as you solve the situation, but do not meet your typical 1+ million investment on the country to get a tax residence requirements of many jurisdictions that may be interesting in this case, and ideally you do not want to move to places like SEA or South America. You would prefer some place in EU (as you would be already EU based in this example), but if there are 0 options there, then I guess you will need to do something, as you cannot just ignore this money there doing nothing forever and it gets increasingly absurd as the price increases and you are stressed with money problems as you need to help your family and pay for stuff when you have retirement money stuck there.
Those are some options that are mentioned. Others of course include other more exotic approaches like the use of companies, NFTs, swapping keys for freshly mined keys for a premium (this seems very risky) and whatnot, but you would want to not have to resort to that. It is insane how you are treated like some sort of criminal by default when you just did some affiliate marketing for small payments and now you are trying to cash out on this because the token you got paid on did a 60000%. There has to be a way to do this. There's more and more people with these stories out there and as the price increases we will continue to see more. Anyone reasonable would understand people in this situation want to pay taxes and do everything legally but it's only fair to worry about being labelled a criminal and end up with their money confiscated so they want to look for some guarantees that this can be done properly.
TL;DR: Hypothetical scenario in which you have low 7 figures of non-KYC legally obtained BTC which you want to be able to diversify in real state and other investments and be able to spend them so you can enjoy this wealth and your family can inherit it instead of it disappearing into the ether (and even if you passed them the wallet and somehow learned how it works they would face the same problem).
If anyone knows people that have solved similar situations please let me know and PM if needed.
Last edited:
