Quote: (01-19-2018 11:26 PM)Sebastian Wrote:
I am looking to buy some bitcoin for cash at a discounted rate.
I already bought some and gave the person 90% of the market rate in cash.
Some people wanted to sell at market rate or over market rate for cash. I thought that was funny.
I think someone with dirty money wouldn't mind this but I am just an individual who wants to buy it cheaper. If I were to pay market rate, I will just buy at the exchange after waiting for the right time. It could be few hours or few days.
Anyways, I ran into some articles about people getting arrested for selling bitcoins on localbitcoins. Undercover agent approached them, made few transactions and arrested them in the end.
That was the Seller. But I still got scared after reading that.
This person contacted me to sell his bitcoins. He told me right off the bat, 'hey I have 30 bitcoins. I want to sell it for cash so I don't have to pay taxes blah blah' I thought that was weird that he mentioned about avoiding taxes to a stranger right away.
I am going to meet this guy to buy just couple K worth.
Is there anything I should be careful of? (other than getting robbed)
If anyone mentions anything illegal in the transaction process, it is almost certain you are dealing with a federal sting operation. I'd certainly remain silent and pass on them.
I've read an article about about this Canadian guy that went to the US to sell some bitcoins. He got arrested in a sting where they mentioned to him they were using cash obtained in illegal ways to buy bitcoins from him. The second he used his laptop to send them BTC, they arrested him.