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PaperclipPerfector  5mo ago (text post)   3799 thread views

Small-Scale Question Sunday for June 2, 2024

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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Jump in the discussion.

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Could probably use a decentralized exchange of some sort to swap it into stables and then various ways of getting it into physical USD.

Stables? Stablecoins?

Physical USD won't help me.

And how could I trust the exchange? One of them just disappeared and stole my coins once.

A decentralized exchange is relatively low-trust since you just use it to convert and don't deposit. Uniswap the most popular example.

How would physical cash not assist? Likely easier to slowly convert that into your preferred currency than raw BTC

My country doesn't really use cash anymore. I wouldn't be able to spend it all without raising suspicion.

I think we're running into confusion about what a "not a life-changing amount" actually means. Can you get rid of 5 figures in cash eventually?

Foreign purchases under the customs limit are always a safe bet for using coins, it seems like.

We don't have a customs limit for foreign purchases, everything gets a hefty VAT and a declaration fee. Spending it in cash would take a very long time.

I'm gonna go the "just tax my crypto when I sell" route.

I'm starting to hope it's enough money to buy you foreign citizenship somewhere

Hehe :)

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