Crypto Currency Thread (Vol.2)
Discussion
dimots said:
CraigyMc said:
It'll be forfeit to the crown most likely.
It's ~?61000. Current value is about £3.2bn at the time of writing.
So this is money pinched from investment fraud in China, laundered in the UK, and the entire lot forfeited to the crown?It's ~?61000. Current value is about £3.2bn at the time of writing.
Edited by CraigyMc on Thursday 21st March 10:43
No wonder the banks are losing money, this is way more efficient than letting them do the laundering and the crown only getting tax from banker's bonuses
CraigyMc said:
White-Noise said:
g4ry13 said:
I was wondering what happens to the btc??It's ~?61000. Current value is about £3.2bn at the time of writing.
Edited by CraigyMc on Thursday 21st March 10:43
CraigyMc said:
It'll be forfeit to the crown most likely.
It's ~?61000. Current value is about £3.2bn at the time of writing.
Presumably there are publicly documented victims in China. Nice of us to keep it all. It's ~?61000. Current value is about £3.2bn at the time of writing.
I would make at least one phone call over there to see if there were thousands of ruined victims who might like a yuan or two back.
There were a fair few fully legit vendors on the Silk Road who kindly donated to the US government too.
ooid said:
Question to $hitcoin millionaires out there, how are you planning to purchase a property? No solicitor or conveyancing firm is accepting funds coming from crypto as far as I'm aware in U.K. ?
I know several people who've bought with their profits. No one moaned about being shunned. As long as you have a paper trail there shouldn't be an issue though they may eye you a bit closer than average.
ooid said:
Question to $hitcoin millionaires out there, how are you planning to purchase a property? No solicitor or conveyancing firm is accepting funds coming from crypto as far as I'm aware in U.K. ?
You're telling me that people who are paying £600k+ as a cash buyer are being turned away from a potential sale? 
James6112 said:
You do sound a bit envious 
Far from it, as much as I joke about crypto I ask advice from the gurus here now. 
I just caught up with a friend, apparently he made a bit money by buying some more than 10 years ago, not much and trying to use this as part of his house purchase deposit but he has been told to go somewhere else by his solicitor.
ooid said:
I just caught up with a friend, apparently he made a bit money by buying some more than 10 years ago, not much and trying to use this as part of his house purchase deposit but he has been told to go somewhere else by his solicitor.
Mortgage might be more of an issue I guess as there are ongoing requirements and more initial probling. Considering how much of a grind all the money laundering stuff is now I can well imagine people flatly turning you down for the sake of a quiet life even with a full set of documentation.
Might be worth sending him here for a recommendation - https://www.reddit.com/r/BitcoinUK/ as I'm sure someone there has done the same at some point.
Edited by bloomen on Sunday 24th March 23:40
g4ry13 said:
ooid said:
Question to $hitcoin millionaires out there, how are you planning to purchase a property? No solicitor or conveyancing firm is accepting funds coming from crypto as far as I'm aware in U.K. ?
You're telling me that people who are paying £600k+ as a cash buyer are being turned away from a potential sale? ooid said:
Far from it, as much as I joke about crypto I ask advice from the gurus here now.
I just caught up with a friend, apparently he made a bit money by buying some more than 10 years ago, not much and trying to use this as part of his house purchase deposit but he has been told to go somewhere else by his solicitor.
That's interesting. Is he using pounds or literally some crypto currency? What was the reason given by the solicitor? I just caught up with a friend, apparently he made a bit money by buying some more than 10 years ago, not much and trying to use this as part of his house purchase deposit but he has been told to go somewhere else by his solicitor.
Blown2CV said:
g4ry13 said:
ooid said:
Question to $hitcoin millionaires out there, how are you planning to purchase a property? No solicitor or conveyancing firm is accepting funds coming from crypto as far as I'm aware in U.K. ?
You're telling me that people who are paying £600k+ as a cash buyer are being turned away from a potential sale? 
You're telling me that someone who has £600k of Doge / Shiba can't go and sell it on an exchange?
fasimew said:
Just last week I sold some bitcoin on coinbase and then moved the cash to my bank. Tell me how I can't buy property...
Cos it might give the people handling your money the willies. Money these days is rather more onerous to deal with than it used to be.
I'd kick off by handing it to someone with some track record in this area if there was going to be lots of scrutiny like a mortgage application.
g4ry13 said:
Blown2CV said:
g4ry13 said:
ooid said:
Question to $hitcoin millionaires out there, how are you planning to purchase a property? No solicitor or conveyancing firm is accepting funds coming from crypto as far as I'm aware in U.K. ?
You're telling me that people who are paying £600k+ as a cash buyer are being turned away from a potential sale? You're telling me that someone who has £600k of Doge / Shiba can't go and sell it on an exchange?
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