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Honest question, and no I do not own any crypto these days: How would you liquidate a wallet with, say, 100 BTC or more? 1000? 10,000? Can any of the exchange

Honest question, and no I do not own any crypto these days: How would you liquidate a wallet with, say, 100 BTC or more? 1000? 10,000? Can any of the exchange houses move that much money in a day? Would you instantly be visible and known to everyone?

smabie 5y ago
100 BTC really isn't that much you could easily vwap out of the position. Alternatively you could just do OTC, but it's a little small for that.
andy_ppp 5y ago
Couldn’t you just launder it through other crypto first? Then take it off the exchanges in Ether and Doge etc.
- cinntaile 5y ago
  Why are you talking about laundering?
  - 13of40 5y ago
    So that you don't have people doxxing you then showing up at your door looking for a handout, like with lottery winners? That's how I read the last part of the original question: "Would you instantly be visible and known to everyone?"
    - cinntaile 5y ago
      Why would that happen? It's not like your name is visible when you make a trade? Not even your wallet address is visible on most exchanges since the trades don't happen on the blockchain.
      - 13of40 5y ago
        The way I interpreted it, the writer of the original question doesn't understand all of the mechanics of a Bitcoin transaction, and that's why they were asking.
        cinntaile 5y ago
        Fair enough.
        joezydeco 5y ago
        No, I understand it completely. But I also know moving that much crypto at once gets you noticed by a lot of people, not just the government.
Tangokat 5y ago
The 24h volume for BTC is ~33b usd. You can liquidate a lot very quickly. Tesla recently sold ~270m usd worth to test liquidity [1] [1] https://twitter.com/elonmusk/status/1386821144037236737?lang=en https://twitter.com/elonmusk/status/1386821144037236737?lang...
- NicoJuicy 5y ago
  Tesla is a high profile customer. They have separate policies for them. Normal accounts can offload 25k/day last time i checked.
  - chejazi 5y ago
    Generally you aren't limited in how much you can sell. If Tesla deposits $270m worth, the exchange won't stop them from selling. I think you mean withdraw (there are pretty strict limits on how much you can withdraw)
    - NicoJuicy 5y ago
      That's what I mean with offload.
  - thebean11 5y ago
    Which exchange are you referring to? The big US exchanges have limits, but those limits can be very easily raised by doing some extra identity verification. My Coinbase daily limit is actually $250k and I haven't done any extra verification, and my total amount ever traded is lower than that figure. Just a long time account holder.
    - NicoJuicy 5y ago
      Try selling 250 m$, which would take multiple years with 250k/day. I think it was kraken or Binance that i checked. Coinbase pro states 50 k /day https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/limits#:~:text=Coinbase%20Pro%20account%20holders%20have,page%20and%20select%20Increase%20Limits https://help.coinbase.com/en/pro/trading-and-funding/trading....
retrac 5y ago
Dumping 100 BTC on Coinbase into current sell orders, would only bring the price down by $400. (Assuming no more orders don't immediately fill in the void.) Any large exchange could handle that sort of volume.
cdiddy2 5y ago
100 BTC is roughly 6M, 1000 is 60M. FTX.US has 35M depth moving the price 2% downward. Binance has 23M, Bitfinex 35M, Coinbase 15M. So basically you could liquidate 1000 BTC in a market sell if you split it across some exchanges and cause a 2% move downward. More if you were a bit smarter about selling and not just straight dumping it. https://www.coingecko.com/en/coins/bitcoin#markets https://www.coingecko.com/en/coins/bitcoin#markets
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smabie 5y ago

100 BTC really isn't that much you could easily vwap out of the position. Alternatively you could just do OTC, but it's a little small for that.

andy_ppp 5y ago

Couldn’t you just launder it through other crypto first? Then take it off the exchanges in Ether and Doge etc.

cinntaile 5y ago
Why are you talking about laundering?
- 13of40 5y ago
  So that you don't have people doxxing you then showing up at your door looking for a handout, like with lottery winners? That's how I read the last part of the original question: "Would you instantly be visible and known to everyone?"
  - cinntaile 5y ago
    Why would that happen? It's not like your name is visible when you make a trade? Not even your wallet address is visible on most exchanges since the trades don't happen on the blockchain.
    - 13of40 5y ago
      The way I interpreted it, the writer of the original question doesn't understand all of the mechanics of a Bitcoin transaction, and that's why they were asking.
      - cinntaile 5y ago
        Fair enough.
      - joezydeco 5y ago
        No, I understand it completely. But I also know moving that much crypto at once gets you noticed by a lot of people, not just the government.

Tangokat 5y ago

The 24h volume for BTC is ~33b usd. You can liquidate a lot very quickly. Tesla recently sold ~270m usd worth to test liquidity [1] [1] https://twitter.com/elonmusk/status/1386821144037236737?lang=en https://twitter.com/elonmusk/status/1386821144037236737?lang...

NicoJuicy 5y ago
Tesla is a high profile customer. They have separate policies for them. Normal accounts can offload 25k/day last time i checked.
- chejazi 5y ago
  Generally you aren't limited in how much you can sell. If Tesla deposits $270m worth, the exchange won't stop them from selling. I think you mean withdraw (there are pretty strict limits on how much you can withdraw)
  - NicoJuicy 5y ago
    That's what I mean with offload.
- thebean11 5y ago
  Which exchange are you referring to? The big US exchanges have limits, but those limits can be very easily raised by doing some extra identity verification. My Coinbase daily limit is actually $250k and I haven't done any extra verification, and my total amount ever traded is lower than that figure. Just a long time account holder.
  - NicoJuicy 5y ago
    Try selling 250 m$, which would take multiple years with 250k/day. I think it was kraken or Binance that i checked. Coinbase pro states 50 k /day https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/limits#:~:text=Coinbase%20Pro%20account%20holders%20have,page%20and%20select%20Increase%20Limits https://help.coinbase.com/en/pro/trading-and-funding/trading....

retrac 5y ago

Dumping 100 BTC on Coinbase into current sell orders, would only bring the price down by $400. (Assuming no more orders don't immediately fill in the void.) Any large exchange could handle that sort of volume.

cdiddy2 5y ago

100 BTC is roughly 6M, 1000 is 60M. FTX.US has 35M depth moving the price 2% downward. Binance has 23M, Bitfinex 35M, Coinbase 15M. So basically you could liquidate 1000 BTC in a market sell if you split it across some exchanges and cause a 2% move downward. More if you were a bit smarter about selling and not just straight dumping it. https://www.coingecko.com/en/coins/bitcoin#markets https://www.coingecko.com/en/coins/bitcoin#markets

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