/biz/ - Business & Finance

>>21359099
Which bank?

>>21359099
Lmao bro you have to warn your bank first.

>>21359099
why u lying?

>>21359099
No. That's why it has to be structured and taxable. You didn't win the lottery, you earned Capital Gains.

>>21359127
>>21359124
Bank of America. I've heard of the same thing happening to other BoA people too. I didn't think it would happen to me because 1mil isn't that much really. I'll call them today and see if they'll unfreeze my account. Anyone know what kind of questions they'll ask?

>>21359099
Shit, dude you'll never see that money again. It's now property of the bank.

>>21359099
Proof or GET THE FUCK OUT OF HERE. I AM SO TIRED OF LARP THREADS REEEEEE

>he cashed out to fiat instead of a stablecoin

>>21359229
>>21359168
give me one second to scan and upload the letter they sent me

>>21359099
Imagine transfering crypto gains into cash instead of buying gold and silver with BTC

You accually though your terrorist coins had any value ? You got fooled

>>21359197
>BoA
Holy shit are you retarded? you deserve it

I wouldn't do it all in one transaction. I'd send some to PayPal, some to one bank, and some to another bank in the maximum increments. Isn't it sold and in USD on the exchange? Funds are safu.

>>21359099
Maybe this is what happens in the U S of A, but here in Europe you get a nice call from your bank asking what currency you would like your withdrawal deposited in...

lmao cashing out

>>21359399
American here. I would pause for a moment and consider if this money should be in Japanese Yen.

>>21359496
Great ,a huge inflationary currency.

>>21359496
>pic
>GO-GO-GO-GO-GO-GO-YIIIIIIIIIIIIM

>>21359099
You fucking idiot, you have to inform the bank you will be expecting a large amount.

>>21359278
You're going to be cucked, so hard, anon.

If this isn't an larp.

BOA contacted Fincen.

An analyst got assigned to your account, and is going through all your transactions to judge how risky you are.

Any porn purchase, tinder, dating, high risk stuff will add points to your profile.

Then your credit will be pulled (if you have monitoring, you'll know when exactly.) to judge against your current address on file, assets and general Fico8 credit score.

Then you'll get a check in the mail 3-6 weeks later, and a letter saying they're closing your accounts.

Fees are going to be applied because the way it works is transactions won't go through, so you'll get late fees from any and all auto pay, don't bother explaining why, the rep doesn't give a fuck.

Then you'll get an audit note from the IRS, asking you to state your income and verify past returns.

Then you should hire a CPA, to reply back fuck you IRS.

Then you'll get a 1099k, as your capital gains are probably 950,000$+ you're going to have a hell of a long time filing for 2020 taxes (next) year, which, is really 8 months away (lol).

If you're in a suspicious area, or have suspicious activity, an SAR is filed, and fincen is watching you.

>>21359197
>1mil isn't that much really
automatic audit flagged on any tx over 10k in murica lmao, 1m is wya wya way way way way way over the "not much" limit

shut the fuck up no you didnt here is the obligatory (You)

>>21359099
This is why I'm honestly afraid of withdrawing to fiat when I finally make it. There's literally nothing stopping the glowniggers from cucking you by arbitrarily freezing your accounts.
I might look into alternative strategies that maintain the majority of the money on-chain. Like keeping everything as stablecoins and only withdrawing to fiat a little at a time for daily expenses and such. That way if the bank jews shut you down, they can only cut off a tiny bit

sage this fucking larp

>>21359099
If you are going to cash out that much you should be contacting tax lawyer who can advise you on how to do it properly without raising giant red flags.

>>21359296
tell me more, can i avoid taxes this way.

Y’all are high key stupid. The second you make significant gains you start a business doing literally anything it doesn’t ducking matter and launder your gains through it while also being able to get tax deductions. I swear you’re all fucking stupid and don’t deserve your bags.

>>21360095
Fucking this. If you're about to withdraw a mil, hire a Jew for Christs sake, that's what they're there for.

>>21359099
>letter in the mail in 2020

>>21359859
What was the correct play in OPs position? File taxes first then cash out to pay the taxes?

how do I larp effectively?

>>21359127
>>21359099
litterally this. It's the same when you go on holiday you faggot.

If you fly to indonesia and try to atm 1000$ doesn't the bank cancel your card either? If they don't you have a shit bank. You can literally tell them over the phone or through the bank smartphone app that youre doing shit that might look scammy at first glance, but youre actually going on holiday/ depositing/ withdrawing money.

>>21360388
If you cash out in 2021, you have to file it in 2022, even though you used the cash out to pay 2020 taxes. You’ll pay at some point, either this or next year

>>21360049
can't buy a house that way.
sometimes it's good to be a third wolder.

>>21359859
>>21360388
also curious to know the correct plan.

would it be to tell your bank youre going to cash out 1mill in crypto so theyre aware? I know the IRS should be up to date already in the first place.

>>21359099

.. you cashed out 1m to a single bank account?

I completely missed that bit and thought everyone else was just being a dick, but yeah, you're fucking retarded for trying to cash that to a single bank. Nevermind that you're trading in crypto, 1m showing up out of nowhere is going set off all kinds of alarms. Hell, that would raise suspicions even before the Patriot Act. I wouldn't be shocked if you got a call from the FBI or the DEA.

All I can say is try to find a financial services attorney and see what they can do.

OP = dumb faggot
Crypto is supposed to replace your salary, you don't withdraw it all at once. You pay taxes on your trades of course but beyond that keep most of it and hold. In 2017 I made a lot of crypto and didn't even withdraw most of it (made an 80k "salary" off of trading instead), this is a long game. Same as people who made lots off the stock market in the past, it's all based on belief it will go higher. .

>>21360217
Hahaha there's always a jew for each predicament

>>21359099
Dude anything over $250k isn't even FDIC insured. You shouldn't have that much money in a regular bank account

>>21360119
No, trading assets you still have to pay tax.

>>21360562
The correct plan is contacting a tax attorney and having them assist you in getting the most out of your gains.

Yea, you have to pay them. It's better than getting raped by the IRS and FBI.

>>21360512
Yes but can we, for hypothetical purposes, get a point by point of all the dumb mistakes to avoid? Let's say I wake up in April of 2021 and my Binance account has 5 million USDT. What, step by step, should I do? I am autistic and I panic when I don't know what to do, it's one of the reasons I didn't sell my BTC in 2017, I just started hyperventilating when I tried to read the tax code. It was only six figs, but still.

>>21360657
whats the play here? just split across 4 accounts?

>>21360388
>>21360562


First off, you need to actually have a proper account, a new one is perfect.

Why a new account? There's no previous record, hell, split it into a fee different transactions, that's no issue.

Schwab, TD, all offer brokerage accounts.

If you really need to cash to fiat, open a brokerage account (same hour, no wait) for routing/account and SWIFT.

Upon creation of the account you can wire the money in, but it's better to do it to FDIC limits.

Remember, anon, you'rre covered up to 250K per account *type* (checking and savings are different, so 500K there) but not different product line (e.g. savings, high yield savings, etc.)

When you create a new account, it'd ask how much are you depositing, done. Be honest.

They'll run a check on you, but not a credit check. It's through "CHEXSYSTEMS" which is the USA bank clearing house that is SIMILAR to a Fico/Credit Score.

Then you can move the money into a EFT or whatever vanguard product you want, so atleast you aren't cucked on that.

---

Pro play, this requires proper planning, a week before, minimum.

Open an LLC/S-corp.

C Corp is too much work, S-Corp is probably too, better if you live in an state that allows LLC (I think nowadays all of them?) and don't fall for that blind llc/corp delaware/nevada shit. Yeah, it's useful, but for this example, it is not worth it. ---

... Part two below.

>>21359099
You'll need to justify every single transaction you made before cashing out. You must name the exchanges, and most of all, where did that money came from. If they find out you used "Binance" at some point you are screwed because that exchange is blacklisted as a money laundering website. I'm not kidding.

>>21360919
Waiting with baited breath anon, this is the good shit. I want to start a corp but does it matter that I bought crypto in my own name? Will transferring it to a corporation incur a tax?

>>21360804
Diversify into tangible assets over a period of time. We're still at the beginning of the crypto market anyway, don't see a reason to sell everything so early like OP. I know being rich feels great but it creates a lot of headaches too. Better to live modestly and keep building up wealth through your life.

>>21360919
is this the tax evasion way or is the taxable way?

>>21359859
>Any high risk purchase will add points to your profile

I used a shitton of btc on silkroad back in the good old days. Will they find that shit?

>>21360980
fucking lol @ every single person the planet thinking that crypto would free us, when it has only bound us even further..almost as if by links in a chain.

>>21359099
The play is to hire someone to cash it out for you like a CPA. hire a lawyer if you have to. alert your bank beforehand. you cant just deposit a million bucks out of nowhere

>>21360388
>>21360562

You need to file papers of incorporation w/ the state as you open an UPS mailbox, or fuck it, a wework address (sounds better.) \\

NEVER a P.O. Box.

You can be registered agent and owner, better if you say hey-lo to a real estate attorney and they become registered agent, they can even send their paralegal to the bank for you.

Once you have address + filed papers of LLC (online), you walltz into a bank, say you want to open a business account,.

They'll sit you down, they'll ask what you do - say you're an investorr, you like to buy land, speculate, build up, may take out a construction loan, and consider getting into commercial.

The sit down and get to know you process is simply put, a dance. They know, you know, don't trigger anything, don't talk politics, dress nice,and have an address within the city unless you're doing it at a charter bank (NYC, Chicago, Miami, LA, Seattle, etc.) Then it's expected you already have an LLC formed *OUT* of state.

--

That's pretty much it, they'll ask where the funds came from, say online brokerage/exchange (that is what crypto is) and exchanges online aren't going to broadcast "THIS GUY CASHED OUT" vs it's going to be a ACH or SWIFT fro Silicon Valley Bank (coinbase) for example or HSBC (binance.)

Then they'll try to get you for wealth management services, say you're interested and book a meeting if you *really* want, but you're going to be cucked, especially if you do not know the language of finance and most especially if it's Wells Fargo or Chase/JP Morgan (they're separate, but the same when it's convenient, e.g. new customers.)

part 3...

>>21360654
cant you claim you lost it all? I dont see why you would even need to disclose any gains if you arent converting to fiat.

>>21360980
>If they find out you used "Binance" at some point you are screwed
jfc I have an account and there are literally bank transfers from my bank account to binance.

I never did banxa their passport verification tho, so i guess that makes it.... somehow fine?

>>21361108
Sounds good, waiting for part 3 but also do I then need to be careful about purchases with my business acct? Can I immediately buy treasury bonds with it? That's my plan, crypto to t bills. No interest in stonks...

>>21359278
enjoy the nice long shower

>>21359127
>you have to call up some kike at your bank to get permission to move your own money around

>>21360388
>>21360562

The *need* for why incorporation and saying "land" is because that is a very common/basic reason to move large cash around, because it is a very documented purchase, that is public, in the land registry but the owners of the land *aren't* legally obligated to be public or known. Granted the registered agent on your corp/llc will receive all *SERVICE* meaning paperwork from bank saying they suing you or being seized (alongside your registered address, but most likely attorney.)

Service means the attorney takes your mail in your service, the legal request, etc. Most RE attornies draw the line here, especially if you're getting legal requests form federal law enforcement (state usually doesn't care.)

The thing is, you need to be paying your RE, if you go this route vs just throwing it into a brokerage online.

There is no gain or "point" to having a million dollars liquidity sitting in a fucking bank of america college checking account - LOL.

you will be dropped, ASAP, like OP.

You *REALLY* need re-invest it and have an *actual* need to cash out for hard cash, and like I wrote above, RE purchase is the best way because it's undocumented until it's recorded at the land office.

Do not fucking thing you're smart and forge land contracts and actually process them. Don't.

>>21361175
No, because in the future when we put everything on the blockchain they will get you for that, even if it takes 20, 30, or more years. Better to play it safe, these people will do insane shit to get their money.

>>21359250
Plus binance and crypto have really good interest rates on USDT

>>21361214
he's just trying to scare you. just hire a CPA and a lawyer to take care of the process. you'll be fine.

>>21361080
No it hasn't you moron.

>>21359099

Liar

>>21361339
What about T-bills? Can't you just transfer everything to a special gov't bank account? I read online the Fed reserve gives out special bank accounts for buying treasuries. Surely the Fed loves money and will let you give it to them.

>>21359859
>Any porn purchase, tinder, dating, high risk stuff will add points to your profile.

what, why?

>>21359099
Tell them that’s unfair treatment of gays.
I’m dead serious.
Bank of America will end over backwards to avoid unfair treatment lawsuits.
T. BoA middle manager that handles this shit all the time.

>>21361472
ok...sure... because all the fucking banks are super coordinated and can trace my every single transaction including all paper transactions.
yeah, no. believe me, this will be worse. we will all make a lot of money because we are in early, but this is going to make IRS 'loopholes" literally impossible in the future

>>21361411
>checked
death and taxes.

>>21361322
>checked
yes. that is correct. welcome to planet earth.

>>21361636
You're right.

I bet satoshi was a fucking banker to begin with.

going into crypto means we lost all privacy, not even XMR will safe us. Holy fucking shit youre right, every crypto transaction from other coins to monero will be known, holy fucking shit we as a society are getting so fucked because we are greedy fuckers trying to chase high gains.

FUKKKKK. Well at least I will be comfy in 10 years. not getting kids anyway so yeah.

>>21361411
But they would have to prove you sold crypto at a gain, which would be impossible if you had offline wallets correct?

Get a platinum swipe card and you can spend you crypto on anything without having to cash out

>>21361322
When you use a bank at all, you are giving them responsibility over it. If you don't want them verifying massive transactions like that, then don't use a bank. Go sell your link to someone for cash and then keep it in your house. Better yet, don't convert to fiat and use crypto as an actual currency

>>21360980
>If they find out you used "Binance" at some point you are screwed because that exchange is blacklisted as a money laundering website. I'm not kidding.
Smoothbrain here
Someone please either prove or disprove this, because it was me worried

>>21361218
t-bills aren't the best, sure they won't lose value per se, but against inflation.... you can make more just putting it into SPY or Vanguard as you think what to do.

The trinity study is a compelling read, basically the tl;dr of all those investor books, you can make a 4-6%+ return by just doing EFT's and that is comfy for a while while you *plan* on what you want to do with your new wealth.

And it is OK to just let fiat ride, de-stress, de-couple and enjoy the "passive" income, it'd cover bills and your OPEX.

The actually buying land/house isn't bad either, if you sit down, and think about it. Construction loans and mortages are so cheap now, you can litereally buy a house cash, and then refianance it and do what's called a BRRRR.

No, not money printer fed go Brrrrrr

But, buy, rehab, rent, refinance, repeat.

That way you gain assets, have cash to play, and you can expand where you want, the real estate *should* appreciate over time (next 5yrs+) don't think next year or two, and you can do smart plays w/ airbnb, buying out duplexs, quadplexes, etc - of course it's not *that* easy as it goes into CAP rates and actually having a *business* but it's easy to fire sale it, and w/ the Fed making rates at 2.89% you can argue all day with the moneyman at the bank, you'll get the rate you want, and your liquidity safe in the asset. --

This isn't the only play though, there's many more, this is just the easiest one from the Chinese/Jew moneybook, because you *made* it and now keeping your *wealth* semi liquid is an issue because everyone wants to get at it.

>>21361557
Kek I feel like this just might be clown world enough to work

>>21362111
Are there any books or online resources that detail different plans like this? Btw thanks bro.

>>21360919

It seems Part 1 is the 'safest' play to cash out part of your crypto stack. What's the downside of this, asides from not being able to _completely_ cash out? Will filing taxes going to be more of a bitch than the usual? I used an online crypto tax service last year, for reference.

>>21361531
IT goes on further, so credit card processors, and back end processors assign a unique category per "merchant" type, food, restaraunt, grocery, porn, gambling, transferwise/ remittance services, drug related sites, etc.

Legal prexcriptions/medical insurance is not high risk.

Shit like CBD purchases and other questional online pharmacies are.

If you use remittance services like remitly, transferwise (paypal not really anymore, but kinda, sometimes, though it's obvious if you're selling or buying stuff) meanwhile w/ remittance and money services, including western union and moneygram are just high risk/high fraud.

This is why Experian and such want you to upload or connect your "bank" account to scan for utilities and your purchase trends, so they can assign you an internal threat score.

Utilities on autopay, higher reliability, trust.
Shit like onlyfans, and westernunion, lolno. >>21361636
>>21361842
Majority of Crypto ledgers are fucking public, that's the point, I dont' get how people think it's secret. Retardation levels man are high.

>>21361912
The exchange does not care, they will file a report with FINCEN and the IRS. Which then you must include on your taxes, if you lie, it's auto-audit. That is why it's the first question on new tax returns.

>>21361913
So that rate of exchange is called "interchange" and it's never in your favor. It's always in the bank favor on a floating point, not to mention you're keeping your value of crypto on a fucking shitty third party platform that's using the crypto you deposited in their hot wallet for all transactions.

You're not actually serious about *actually* transfering all of it at once, right? lol fuckswipe.

>>21361322
Cant wait untill defi replaces cefi

why would you with a mill and think nothing was going to happen? especially if you were wagie making less than a 1/100th on a biweekly basis? are you some kind of retarded,op?

>>21362366
I would only transfer it there as I need it. 4% cashback and no spending fees. Seems like my way out of tax fuckery

>>21361322

Thank God I get to pay negative interest!!!

>>21361322
>your own money

>>21362111
I have done a lot of financial research, the way I see it I am taking a huge huge huge risk with crypto, so call it karma, call it superstition, but when I cash out I am going into T-bills and never touching another investment vehicle ever again. I have seen too deep into the rabbit hole. The way I see it my insane risk now combined with no risks in the future balances out to a healthy amount of risk. I have read all the studies and I've been given all the lectures on 'if you wait 20 years you always win!' and I just don't care. I am quitting crypto when I have 70 years worth of money to put into T-bills.

>>21362313
Several, actually - you want to think of "windfall."

YEs, you worked for it, but the same practices applied, just lack of paperwork..which isn't that big of a deal.... if you don't mind doing some work that will make it hard for anyone to nail you down for *true* fraud but, BUT if you use a fucking centralized exchange like Coinbase, it does not matter, IT has been automatically reported to IRS/FINCEN.

Meanwhile, these controls aren't as regulated in other parts of the world.... why if you transfered your crypto (w/o turning it into fiat) to a third party wallet, and don't cash out with coinbase, you're golden.

There's a reason why HSBC is such a big name, and why being an American Citizen abroad is such a big deal. FACTA. It's a law that requires, forces *FOREIGN* banks to report all american citizens oversea assets.

The great part about is, that, depending on your relationship and connection, banks don't even have to follow a KYC procedure to open accounts.

This is what makes South East Asia so popular. HSBC and other big banks, have literal agents in casinos eager to help, and while you are giving money to a China/Asian man, you usually get it back for a 2-10% cut. IF it enters the USA banking system, be damn careful because they may use the same person/bank for several transactions and put you on a fucking list.

This is why Casinos in Cambodia, Philippines and around those parts so popular. Chinese use them to make their RMB to USD/GBP/Euro.

It helps if you know Chinese, but it isn't needed. Filipinos speak English, and to see the audacity of financial "incidents" that happen there, just look up wirecard, or how pakistan's own money printer ended up shuffling through PH to hide the source of money to quickly push it through to HK/USA/UK.

I covered alot here, anon, and I'd love to go on more, but this is more for leaving USA permenantly, and for a million dollars, that may *be* questionable, but not *impossible.* part 5...

>>21360207
>launder
>having to launder your own legitimate crypto profits
god the banking system is so fucking gay lmao

>>21359197
Moron. You contact the bank first and say "i have a windfall that I want to transfer to my account, what's the process to do it", and they'll get it sorted so it's smooth.

>>21360669
Isn't it just sales tax though?

>>21362788
My great realisation in life is that autism is like a nerf to corruption, autistic people, as ANNOYING as they are (and my god are they annoying) cannot tolerate things that are unfair. When an autist encounters anything in life that is predicated on nepotism/connections/privilege they go nuts and dismantle it. This is what crypto is, even Vitalik invented ETH after crying over a WoW update kek. Bless these autists they are going to tear the system down eventually with their unparalleled stubbornness.

>>21362056
There is a difference between Binance and Binance.us

Assuming you live in the U.S., the binance.us version should be fine.

If I've had a brokerage account (fidelity) open for awhile, can I just send 100k+ to it from something like coinbase (SWIFT) without them batting an eye? I plan to declare taxes and all, I just don't want my funds to be frozen

>>21359099
photo or your're larping.

>>21362313
But to get back to your question:

/r/personalfinance
/r/finance

Are good, yeah, it's that site, but it's reliable.

Trinity study:
https://en.wikipedia.org/wiki/Trinity_study

Boglehead forums - boomers and old guys talking about safe safe investments.

http://www.mrmoneymustache.com/
Normie, but great read.

As for real estate, biggerpockets is great and if you ask the *right* question *you* will get the right answer.

better call saul
https://www.youtube.com/watch?v=ez6xH-su2xI

AS for general investing advice, any good finance 101 book will do - especially if it talks about mutual funds,index funds, etfs, etc.

Millionaire next door - tl;dr simple but live below your means.

Rich dad poor dad - find out net worth, subtract liabilities from assets and make a plan to increase revenue.

Making a business, almost anything on the bookshelf, you can go on and on about LLC/Corp creation, but from simple stuff like "how to make a room sharing business" from amazon gets the idea - it's about decreasing liability and ensuring protection/no peircing corporate veil

https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews

There's another good PDF, but I can't find it at the second...

>>21361322
It's not your money theoretically. Your money is owned by crypto exchange and bank.

>>21361108
Great info anon.
Im a top 150 wallet. I cracked over $4M today.
Ive held for over 2.5 yrs now.
If I go the LLC route and business bank account ,
Will my LINK stack be taxed at capital gains rate for business?
Am I better off just declaring it. I’d imagine my tax implications aren’t too bad.

>>21362942
yeah i hate this shit. the fact you have to even use the word launder, because we already assume if you showed them a graph of chainlinks rise, they wouldnt believe you for shit. all these bank employees and irs and fraud workers make 40k a year with their savings probably in negative interest rates. and some 18 y/o kid just drops a milly in a bank account and says he made 300x on a 4k investment.

they wont believe you.... they never would.

>>21360848
Why in the world do you want that much count in a bank? Interest rates are extremely low and may even go negative soon. This is normie boomer advice but its good, put some money in a Ray Dalio All Seasons account, put some money in Berkshire Hathway A and B, put some money in chainlink, buy real estate, open high yield CDs, and if you start a business corporation you can do all ur business thru there, pay yourself a salary, and avoid a lot of taxes. But you seriously dont need that money just sitting in a bank account not only will it not work for you but you will lose money to inflation and negative interest if it comes to the US (i think it will)

>>21359399
In america, the poor aren't allowed to become rich without giving the vast majority of that money to the Jews. And until XRP is ready, the Jews dont own crypto, so they'll just take all your shit.

>>21360217
This. Say what you want, but take out a few thousand, find a jew in your nearest big city, ask to consult with them and pay the man.

imagine paying taxes... on crypto

lol

>>21363673
42 said to just hold and wait until everyone starts accepting LINK as payment.

>>21360207
>broke motherfuckers are supposed to know how to move large sums of money
Dude you're a retard.

I'm too afraid of taxes to cash out.

>>21359399
You are lying, child. Id have raise a SAR.

>>21363526
You can probably just cheat w/ STRIPE atlas and have them do it for you and declare yourself as a self employed programmer if you really want to do it easier.

AT four million though, anon, I suggest highly to talk to a fiduciary and financial planner. That is change your life forever money, retire and throw it all on index funds and retire money, etc.

Everyone talks about "cashing" out, but for what, why and what length?

You can also LLC yourself and become PE, or private equity, which is related/same as "buying land" but sounds fancier. Pay $5 on fiver, get a logo, spend the afternoon setting up email and a shitty website.

But, your LINK stack will only be *TAXED* if you use a USA exchange to convert it to FIAT.

What you need to do is open up a brokerage/investor account w/ Coinbase, or Gemini.

https://custody.coinbase.com/

*DO* NOT tell them you currently have the money on a CB wallet.

*WAIT* a bit to do a crypto-crypto transfer. MAKE SURE to use a third or fourth party wallet, and yes, pay the fucking fees. This is why whale alerts go off, but don't go to exchanges. They are trying to break the chain of custody (they really only look at *PREVIOUS* transaction not the whole tree) for where it came from.

You can transfer *YOUR* assets to an LLC w/o any tax implication.

Technically, there is capital gains from where you purchased it to where your company cashes out, but corps/llcs are "people" so it isn't *YOU* cashing out. You also don't have any *REVENUE* as it's an asset to asset swap so you don't have to report it per se, but this is somewhere I'm confused for USA and I highly suggest you contact a fidicuary for that high amount.

Get a burner phone, new email, do not contact people directly saying you have that much. OP sec for that much bags is fucking key and people would love they get their hands all over it~

I'm much more versed in casinos, asia, part - I can say 100% if you go to HK, Cambodia, Philippines, you'll find a way

>>21359278
>give me one second to scan and upload the letter they sent me
I guess everyone is too stupid to realize that OP hasn't responded since lying about uploading a scan of the letter. LARP.

When discussions on LINK turns into high level discussions on how to cash out your LINK stack.
I think we made it bros.

>>21363934
Maybe OP's scanner broke.

>>21360980
Okay this actually got me. I've never used binance but there are a couple mercatox trades in my wallet. Is that shitty exchange flagged?

>>21363554
You could always do the big dick move and just wait in crypto until the rest of the world catches up. By 2050 there probably won't be bank accounts anymore kek

>>21363863
this nigga is smart as fuck, I hope you dweebs are paying attention in between burger flips

>>21363863
Thanks wise anon.

Crypto is the one chance the aryan man has to defeat the eternal kike...

just move little by little into your bank account and buy property. Then rent out that property against crypto. Start making businesses that use crypto.
If you are one of the winners and invested wisely you can make the world actually a better place while still living wealthy

>>21363984
This my plan. I'm never selling any Link until staking is released and I will then sell only my staking returns and live comfy forever

>>21359197
Why do yall bank with these snakes? BOA, Wells Fargo, Chase and several other major banks are literal criminal scum. They will be liquidated on the DOTR. They finance drug trafficking, terrorism, sex trafficking and pedophilia. Find a regional bank that isn't 100% comped.

>>21359099
just write a fucking letter before cashing out
then remember to pay the taxman

>>21364095
How do you feel about Ally?

So, let's say you have a few hundred grand on crypto, i.e. LINK, ETH, BTC, etc. You guys are saying it's safer to just withdraw a tiny portion of it back to fiat, e.g. like $5k, on times when you just need to do it? If you happen to withdraw that $5k amount, will you have to pay capital gains on that $5k, or for the entire stack just for the fact that you finally realized your gains despite the negligible amount of withdrawal?

>>21363526
You'll find a way to cash out, I know because this is what I *did* for a few years but stopped cause it got scary. scary as fuck.

Even Japan and S. Korea are good, people will literally hand you a good envelope of money for it. Localbitcoin is a thing and it's derivatives. Wouldn't do that in PH, CN or HK though.

You can also incorporate in economic zones, the banks will walk with you on total custody and you are legally given tax asylum credit in the Philippines, Cambodia and Thailand - www.peza.gov.ph for example.

of course you'd be required to spend 200k in their "country" for assets/incorporation, but you get to keep it all, if that makes sense (refundable membership fee.) and then the money is able to move around the financial system as clean money.

There's many, many ways to structure it, anon, the one above is possibly best for anything over direct 500k+ at one time if time is a factor, and the trust in the government is fairly "ok" but not perfect. People do die all the time over this stuff... wirecard in the PH is the most exciting news for this.

declaring it is easiest, and if you don't need it all cash at once, you can take your stack, cash what you need and a bit more, pay taxes on that, and hold link more as you plan on a proper exit to the world of fiat...

Also, you can buy diplomatic passports and citizenships that will help you remove or eliminate tax implications, but if you are an American, there's always the chance you can be fucked if someone pieces it together, an ex or your family rats you out, because that's what the IRS loves best. A whistleblower...

I can go on with strategies, you just need to be creative, sit down and think how much, what time/how quick/what is your run away and then spend a few hour consults on several different wealth fiduciaries primarily in NYC, Chicago and LA for good different opinions and markets.

I'm jealous as fuck, anon. I'll tell you that.

>>21363470
>/r/personalfinance
>/r/finance
>Are good, yeah, it's that site, but it's reliable


honestly only reason to browse reddit is for shit like this , they are risk-averse beta cucks , and that means they are the perfect source for shit as cashing out your risk-made gains and securing your life from that point onwards. 4chan will just make you gamble it all on pajeet coins or make you HODL it till it all crashes to 0.01$

>>21359099

How do you guys feel about cashing out small amounts over a long period of time? Would that be smart? Obviously I will report it and pay tax.

>>21361322
Maybe one of those computer nerds on here should think of a system to counter this

>>21364223
>>21364285
the problem with cashing out small amounts is you'll likely leave the rest invested in crypto

which is fine if you believe crypto will continue to grow for years, but keep in mind this is a new frontier and nothing is guaranteed. With a significant sum of money it makes more sense to lump sum into an ETF or index fund imo, just follow >>21363863 and his posts

>>21364223
just the 5k. Say that is 5 link, and you paid a dollar for that, you’d pay tax on $4999. For long term cap gains you can cash out around 39k tax free

>>21364235
Holy fuck anon. I've been reading your posts on this thread for the past hour. Makes me feel like I committed a crime purchasing LINK lmao

>>21363470
Based anon thanks for your contribution

You remind me of this moron I used to be m8s with who put all his drug dealing money in the bank and went away for 3 an a half years! Dont cash out in your bank ffs

>>21359859
>An analyst got assigned to your account, and is going through all your transactions
Are these boomers sophisticated enough to trace blockchain traders yet?

>>21359278
don't worry i'll wait for you anon.

>>21364427
that’s per year, I should add

Sue your bank anon.

>>21364396

I agree but I mean keeping most of it on the exchange in fiat or stable coins, and cashing out to your bank every now and then.

>>21364375
NuLink brain interface solves this problem.

>>21364149
Fuck ALLY.
FUCK WELLS FARGO.
Fuck Bank Of America/Merrill Lynch.

They are not your friends, no bank is.

CHASE is to big to fail, controls majority of assets and have excellent risk management, and isn't indiciated of similar fraud compared to fucking Wells Fargo.

ALLY is a fucking e-bank, a joke, fuck them.

DISCOVER is pretty good, but you only have a maximum of 500K FDIC over two accounts, and no physical branches.

TDBANK is okay, they are brokerage (kinda but they are not TD Ameribank) they are behind the curve on their website.

TDamertrade, good.

Etrade, good.

Schwab, Excellent, 100% all around excellent.

HSBC - oh, fuck, I can go on, the shit you read on the news does not rival the shit I've done or the fund managers I've wined, dined and fucked in Asia. Holy fuck they aren't near insolvenecy, but alot of people are ignorant as FUCK and, fuck, what I was able to do and fuck around shouldn't be possible. Yeah, say the right words, KYC is out the window, great but custody is not the best in terms of security/general trust.

Bank of China - based af, they'll fund you, if you need to get a visa, become a teacher, Z visa your way into China banking.

China Construciton banks, same, but fuck if you wine and dine them, yeah you get your own private manager that will sing.

Sumitomo Mitsui - I trust these fuckers with everything, holy fuck they're boring as fuck.

MUFJ - same, boring as fuck, very fucking conservative risk management.

>>21360049
>convert your shit to bitcoin because its accepted as payment in normie life more and more.
>keep most of your coin that you don't want to play witb in an offchain hardware wallet
>transfer random amounts to a phone wallet for spending on a weekly basis to keep amounts low
>save wagecuck bucks and accumulate fiat
>spend bitcoin where accepted

>>21364598
i don't have any strong opinions here, but imagine Coinbase pulls a Mt.Gox or something

i'n generally not comfortable leaving cash with a company that doesn't have as many safe mechanisms as a bank

>>21359099
>banking after moving to crypto
>not just selling for cash if you need it
>not being a stealth millionaire
>ngmi

what is the best to clean my eths? An eth mixer or eth -> xmr -> eth? Or even both ?
Just so that when I cash out I could just say that I mined them on my pc a few years back and that whatever I bought from coinbase was lost on margins call. To avoid expliciting every trade I made (several hundreds on the course of 3 years over several exchanges).

>>21364427
>just the 5k. Say that is 5 link, and you paid a dollar for that, you’d pay tax on $4999. For long term cap gains you can cash out around 39k tax free

Thanks. That makes sense. Here's another scenario: what if you find LINK too volatile and decide to swap it to a more 'stable' coin, like BTC, i.e. $1M in LINK to BTC, _without_ planning to move it to fiat, that's going to be a taxable event, isn't it? Shit, that's like 300~400 grand in USD taxes if it's short term. The fact that you can get FUCKED when moving any huge amount of money from crypto back to fiat, how the hell can any minimum wagie anon who made it big can pay that amount of tax?

>>21364235
Wow anon. Very eye opening information.
So much info to process.

FWIW I intend to begin cashing out Jan or Feb 2021. I’ll be keeping 100k stack
but plan to offload 140k over the year.
Maybe 2 sells per month.

Ive been asking my CPA For advice but he is a “good boi” .
I do appreciate the knowledge anon.

>>21360587
>the fbi is going to raid you for a transaction that has a full paper trail from your bank back to it.
hmm

>>21364687

Thanks, my faith in Link is strong though. Will follow my plan and cash out in small amounts, while keeping the rest in LInk.

>>21359399
Eastern Europe here, Baltics to be more precise.. After numerous money laundering through Swedbank, all our money is closely monitored.. In France for example you cant even send a fucking 100 euro without bank calling you..

>>21364624
Thank You for sharing your knowledge anon!

>>21364285
my non educated ass says thats probably the most headache free way

>>21364858
It's capital gains and you need to be talking to a tax attorney before you do anything if you're holding that amount. Capital gains max out at 20% but you can get it to 0.

>>21362734
Bro not to burst your bubble but look at inflation in the 70s. Your 70 years worth of savings would be more like 10 years if we have a decade like the seventies. That’s why you need to invest in productive assets, or at the very least some TIPS and gold.

>>21365037
that's fair anon, good luck

>>21359859
This.
Exact same shit happened to me, not crypto though buy Shopify back in 2017.
I had my Stripe ban lifted after having a lawyer draft a professional letter and threatening them. They sent the money to BoA and bam.
Had to hire CPA to get it finally sorted, took 4+ months and about $34k

>>21364396
This, I would never sell my whole link stack, but no matter what gets said on this board Crypto is risky. The risk of crypto going to zero is so much higher than normal investments its not even funny. Don't get memed into loosing a fortune.

>>21364858
well if it’s 1M right now then most likely it would be long term gains, so 150k at 15% then an extra 50k ish depending on your state. You could simply cash out 200k worth of BTC into usd and set it aside to pay your taxes, leaving the remainder of your stack in bitcoin. short term yes it would come out to around 400k total if you did that

also note that if bitcoin appreciates before you trade it, you will need to pay cap gains on that appreciation (you will still come out ahead though)

>>21364624
>>21365083
yeah agreed, thanks for taking the time to write all of that up. interesting information about the asian banks.

>>21365228
Cumulative inflation all the way from 1970 to 2020 is 600%, let's say for arguments sake it was 1000%. That means if I make 20 million in crypto, I can cash out and it'll be like 2 million in 50 years. By then I'll be 80 and live out my natural life. Also 10 year t-bills are worth like 1% APR so it would halve that inflation. I am just so so tired of life, passive investing is still a kind of investing and I want to be finished with investing. I don't plan on having kids or a family. Just living off the grid when LINK hits 100 USD (which is when I'll hit my 50 year target)

>>21362739
>why if you transfered your crypto (w/o turning it into fiat) to a third party wallet, and don't cash out with coinbase, you're golden.

I did this before I started fucking with metamask/uniswap and actually trading. I made like 4k worth of purchases last year in crypto, never cashed out. Now nothing is on coinbase and I want to just delete that account after 2020 tax season washes it out.

I live in russia and I also dont know how to cash out.

>>21359099
I'd say call the bank and let them know whats happening. That said, next time spread out the deposits, like 1-5k each week so they would think it's just a paycheck or something.

>>21365768
>That means if I make 20 million in crypto, I can cash out and it'll be like 2 million in 50 years.
ok but you're retarded if you cash out EVERYTHING INTO FIAT , keep a little in crypto /ETFs and index funds faggot and beat inflation.

There has been too much violence, too much pain.
None here are without sin, but I have an honorable compromise: Just pay your taxes.
Cash out your crypto, get an accountant, print out your info from exchanges, report all your gains, and I spare your life.
Just pay your taxes. I will give you safe passage in the threads.
Just pay your taxes and there will be an end to the horror.
I await your answer. You have one more post to decide.

>>21359099
What kind of fucking retard withdraws that much at one time?

Do it in 5% chunks anons. Else (((they))) who control the banks will fuck you for fun.

L2play the game

Just turn it all into BTC and buy gold bullion, some to store at home, a shit ton in a swiss vault somewhere, etc.

>>21366053
Technically I am gonna buy a house for 60% of my net worth. Just enough to afford property tax, so I will live in my own investment. Isn't that a smart move? Then I just need enough for p.tax.

>>21359099
nice LARP

>>21365989
Same situation here

>>21359099
Justed by the Fed govt. It's gone. Now go vote for more socialism faggot.

>>21365989
>>21366314
fuck i dont even know if you have to pay taxes on crypto gains
is crypto even legal in russia?

OP was a faggot as usual, but thanks to him we got some genuinely useful information. 8/8 bread

Is using Uphold a viable option for trading the more common shitcoins?
I like how easy it is.

>>21361080
based

>>21361080
Hahaha
>cope

What's finding a tax lawyer to help me with this shit? I'm learning a lot from this thread but am afraid to do everything on my own. I've cashed out small to medium amounts from 2018-2019 to pay taxes, up to 5-figures and even got money back from the taxman once from overpaying, but I don't know what I'll do when I'm trying to cash out to buy a house.

>>21364624
thank you so much for the information anon. I've capped your posts and will use it as a jumping point for more research

>>21361108
Uhh you dont need to actually have a registered LLC to open a business account. This is a larp my dude. Not gonnna make a difference at that particular bank.

>>21363470
Based finance anon. Thank you for your service.

>>21367314
Just cash out and pay taxes. Dont do 1 million at a time like OP.

>>21361322

>>21363470
>Millionaire next door - tl;dr simple but live below your means.
This is way oversimplifying. Millionaire next door has a lot of strategies but a lot of them are outdated. That being said, was an incredibly good read.
The Snowball is good too.

>>21367655

Like I said, I would eventually like to buy some property and would probably need to show proof of income or something. I need a decent amount sitting in my bank account.

Not a LARP. There was a guy that got half a million stuck, the guy from UK. And it was BITCOIN, not some random shitcoin. He had to hire a lawyer to get it out. Also other dude got v&'d.

Bitcoin is already troublesome enough, I can't imagine recieving big gains from some shit exchanger where you made a million from an unregistered security scam (ie anything that isn't Bitcoin)

>>21359250
>cash out to stablecoin
>you are a still a NEET living with your parents with a number on some screen
good one

>>21368172
>Also other dude got v&'d
What the fuck WHY? Which law are you breaking by getting lucky on a cryptocurrencty speculative investment?

>>21368249
>Which law are you breaking by getting lucky on a cryptocurrencty speculative investment?

The law of not being God's chosen people.

>>21367949
>would probably need to show proof of income or something
That has nothing to do with how you cash out your crypto gains.

>>21368249
>UK
Really all they needed to say. Everyone shits on burgerland but the UK unironically will kick your door in over saying "muslims stabbed people".

>>21360207
>just launder a million worth of shitcoins bro
good idea to end in jail, faggot

>>21366224
buying assets like homes is always a smart move, you can make a smarter move by not buying a house thats 60% of your net worth but buying a smaller home and put more into ETFs or other properties like industry areas and rent it out to gyms and shit.

but buying an asset like a house for 60% of your net worth is by no means stupid or retarded, buying a car thats more than 1% of your net worth is fucking retarded, shits a liability. never spend money on liabilities anon. be humble and buy a normal car.

>>21368330
My point is that I need a substantial amount of money somewhere to show to people, and I want to make sure when I cash that money out I do it the right way.

>>21361557
>Tell them that’s unfair treatment of gays.
Do this. Show them this and tell them how it makes you feel if they want proof. Tell them you're muslim too.

>>21366224
watch this shit homeboy, they are a great youtube channel and you will make it if you follow their advice fren. https://www.youtube.com/watch?v=8si7cqw9wm0

>>21364624
>HSBC
>shady goto
MA NIGGA

>>21362286
The second HR gets involved they'll shit a brick. Def go this rout, especially if you're in a blue state.
If you're even remotely black, start there.

>>21359197
>1mil isn't that much really
$1,000,000 is well past the threshold of being considered rich, most people only dream of having half of that much money. It's clear that you've already made it because you're so out of touch with reality.

>>21359099
Nice b8, fren
TOP KEK

>>21368805
1 million isn't what it used to be, not even close to rich.

>>21368805
Depends. A networth of 1 million could just mean you own a nice house in California. You're definitely better off than most, but it's not even easy to retire off 1 million alone (depending again on where you live).

>>21362788
>launder your own legitimate crypto profits
>legitimate

lol. if you cna't see the laundering potential in this, you really are a moron.

Just hire someone, I guarantee they're worth it rather than having to try and figure this shit out yourselves
I have an accountant friend who I'll use when I try and cash out

>>21368805
$1 million is comfy but it's a farcry from rich. Once taxes are done fucking you, you'll have enough for a house, a car, and a good chunk in savings. But you also need to cover your own health insurance, etc.

>>21368949
he's trading coin, not dealing crack and heroin, you utter derp

>>21360207
oops I took out all of my laundered money guess its time to close my fake business after 2 months sure that won't raise any red flags.

>>21359099
Dude you have to tell them you're expecting an extremely large amount of money to come into your account.

What did you think was going to happen? You should be fine though. Make sure to hire a CPA if you haven't already.

>>21368249
Not sure what triggered it exactly. Look around the thread should be archived somewhere. But basically, any gains coming from a source that isn't known = suspicious as fuck.

99% of exchangers are automatically seen as money laundering schemes or some dodgy shit by banks and governments. Not even from Coinbase you are safe from this bullshit. The 500k dude was I think recieving from Coinbase and had to send a letter to Coinbase from a fucking lawyer. Because nothing is really regulated you are dealing with all kinds of bullshit.

I cant imagine theres some retarde zoomers out there cashing out from Chinknance or even obscure exchangers like Livecoin or some shit lmfao

>>21369516
So fucking what.

>>21369116
A nice house costs around 600-800k unless you want to live in the middle of some shithole.

You need at least 5 million to live a comfy NEET lifestyle with nice passive gains, good house, nice escorts for massages for when you've done too much gaming, nice vacation in the sun...

Its fucking over basicaly. You need too much luck to make big money.

>>21359099
Should have used AAVE anon. You are FUCKED

>>21359099
Call your bank in advance and tell them what the fuck is going on retard

>>21369791
A nice house in a shithole city maybe. My place is almost 3000sqft and it cost $400k. Nice neighborhood, all white/asian, and about 30 mins from a major city.
The fuck do you live?

>>21360980
lmao how would that even make sense. If you can trace all your money from bank account even through binance with historic trading. You will be fine. If you are some faggot with 100000 micro swing trades that you kept no record of well good fucking luck retard.

>>21368805
agreed.

>>21368892
>>21368892
>>21369116

all these faggots replying are just trust fund babies no never had a single struggle in their life.

yes its 1 nice house in california, but its also 1 nice house in europe and then a bunch of savings left to start your own business and pump the remaining 400k into ETFs and index funds so you never have to fucking work a day of your life ever again.

move away from california retard.

>>21359099
My gf works in a bank and this is standard procedure if you didn't inform them beforehand. Once they can see where it came from you'll be fine and get your monies.

>>21364095
B A S E D

>>21369516
ok and? he's also getting assloads of money from literal who's buying literal what securities on a literal huh exchange. if you still can't put 2 and 2 together, you're insane.

>>21364235
anon if you're still here, how can I retire with my linkies to thailand? how to get permanent visa, can i cash out tax free if i move there, etc

>>21368805
A million will help you live a comfy life, but the term "millionaire" to describe stunning, plutocratic wealth originated in a time when a million dollars was much harder to attain. The equivalent today is probably billionaire.

>exchanging $1 mil at once


Wait a second.....

>>21370015
>all these faggots replying are just trust fund babies no never had a single struggle in their life.
While I am not a trust fund baby by a long shot, even public school taught me how to use the English language.

>>21370090
so what? "I have a hunch, a feeling in my bones, that this exchange is shady" is not evidence that anything shady actually is going on. OP should lawyer up

>>21359197
Holy shit, good to know. Hope you get access to your money.

>>21368604
>My point is that I need a substantial amount of money somewhere to show to people, and I want to make sure when I cash that money out I do it the right way.
You pay tax on what you made. It's that simple. If you are getting a loan then you need income. so you need an actual job or proof of regular income as a business owner or something else. Once the money is in the bank the title company who facilitates the sale doesnt care where it came from.

>>21363066
Err on the side of transparency to avoid unwanted attention

>>21359099
which exchange has one mill limit? good larp!

>>21368805
You're not rich unless you have at least 10 million. Hell, 1 million in the 1920's is equal to about $17.5 million today.

>>21364624
can you tell more about the wine and dine dance, how do you get into the position where you end up fucking high level managers when you're a stupid neet?
t. randomly ended up fucking a few lawyers and high ranking bank managers in thailand when i was just sexbackpacking and after making it i'd probably want to have those types of relationships for free advice but would need a more reliable way of finding them

>>21359099
>cashing out into fiats instead of btc
OH NONONONONONO

>>21363863
>MAKE SURE to use a third or fourth party wallet, and yes, pay the fucking fees. This is why whale alerts go off, but don't go to exchanges. They are trying to break the chain of custody (they really only look at *PREVIOUS* transaction not the whole tree) for where it came from.
Solid, this is what I needed to hear.

Simple chart for brainlets:

wageslave - working
rich - not working but not poor
wealthy - paying the wageslave to do work for him

>>21370621
good luck buying a house with btc

>>21364520
Coinbase is selling Blockchain information to the government a third party software company is helping them with the process. Thats why everyone pulled their funds off goybase recently

>>21359859
>>21360919
>>21361108
HOLY FUCKING SHIT.

STOP

TYPING

LIKE

THIS

>>21368586
Based

>>21371011

Fuck.

You.

Nigger.

I am in US and have high credit score and salary account. Will the following work?

- From Binance to Coinbase to US Bank account to Vanguard.
- Keep in Vanguard for 5 months - 6 months and then sell (I have other investments in Vanguard)
- Vanguard to Bank account

>>21370323
yes, it literally is you retard. holy shit. financially illiterate retards likely with zero business or finance education. absolutely insane.

>>21371186
If you got it to your US bank account then why do all the other stuff? Once its in your US bank youre fine.

>>21371186
The flag happens when you transfer over $10k into an account.

>>21371353
yes exactly. I will pay taxes on my gains. thats not an issue. I just dont want the account to be freezed

>>21370191
$1M is 2020 was about $26M in purchasing power in 1913, FWIW

>>21359197
nice try Wells Fargo

>>21369791
>nice escorts for massages for when you've done too much gaming
based

>>21371348
two reasons - first, i plan to show i gained less than what I did. e.g. i made 10x, but I will show gains of 3x only.

second - moving to vanguard merges the crypto gains with my other vanguard investments which I have been doing for last 5 years. vanguard gives me a statement at the end of year that shows "short term gains" - on which I am happy to pay taxes - which won't be much

>>21370191
The industrial revolution and its consequences have been a disaster for humanity

>>21371250

No, just because a bunch of leftist legislators passed a bill deeming "water isn't wet" doesn't make it objectively true that "water isn't wet".

>>21371675
*for the human race

>>21371653
If you buy crypto through an exchange, does that mean that the IRS has your token/wallet ID?

EG if you hypothetically buy BTC through coinbase, transfer it to a paper wallet, and later cash out anonymously, can the IRS track you?

>>21371353
>The flag happens when you transfer over $10k into an account.
No it doesnt. It's if you deposit $10k+ in cash. $10k+ wire transfers are going off all day every day, there'd be 10s of thousands of them for the IRS or whoever to monitor. Stop wit the fud.
https://www.investopedia.com/terms/w/wiretransfer.asp
>>21371653
If you already moved a lot of money into a bank account just pay on it at that point. No need to wash it in with the vanguard stuff. How old are you dude?

>>21371865
IRS can't track you. But coinbase will report your account above a threshold

>>21371740
Based and tedpilled

>>21372097
So, hypothetically, if you bought on an exchange then immediately transferred to a paper wallet, could you avoid the exchange reporting your gains?

>>21372698
Just use gemini they dont snitch to the irs.

>>21372097
Be smart with your answers, Coinbase and my bank have been asking me for years about my BTC holdings, back in 2016. Kept getting asked by bank what “coinbase was for” and if I’m doing any money laundering, illegal activities,etc, I shit you not. They asked the same AML question 20 times each time some verbiage being slightly different but the same question. I still have over 600k in my bank so far so good and I had to go thru an internal interview before my funds were released. It’s ok, banks are going out of business in 5 years. Crypto forever.

>>21359296
Fucking this. This is the exact reason why crypto and PM need to join hands.

>>21372698
When you sell they will, right now it’s so early but in 5 years they will be able to link up wallets used and match up people to wallets, they already do that but will have better tech to monitor in a few years.

https://digifox.finance/

Fuck legacy banks.

>>21373237
>where did you get all those kg of golds goy?

>>21359396
Whats the story with PayPal?
Like I know if you transfer big money to your bank they will report it to IRS etc. But if you send the money to PayPal rather than your bank account is there any difference or advantage?

If/when I make it, I'll have to be stealth wealthy. My family and anyone else who hears about it would blow up my phone 24 hours a day with text messages begging for money because they spend all of their's, interview me constantly about "how much do you have lol what I'm just being curious lol I quit my job cuz you're gonna make me rich right lol" trying to find things to get me in trouble, and leech all my money until there's nothing left.

>>21359099
i hope you arent serious

>>21364624
Opinions on fidelity?

>>21359278
>give me one second
>4 hours ago
Did he continue posting under a different id?

>>21360848
>just split across 4 accounts?
in different banks, yes.

>>21373394
It's just another way to diversify your deposits. You can send to your PayPal account from Coinbase immediately. There's a debit card or credit card so you can use your money right away. PayPal lets you transfer through your credit union's debit card to your checking account in minutes. You can sell coins to someone who sends money to you. https://localbitcoins.com
They have transaction limits
https://www.paypal.com/li/smarthelp/article/what-is-the-maximum-amount-i-can-send-with-my-paypal-account-faq732

Pot growing NEET here lads. I was a corporate wagie for 2 years and bought 75% of my make it stack with legit funds. I recently got the gears rolling on an LLC to be able to put straight cash in the bank from my operation under the guise that I’m an independent artist/muralist. I was in the process of setting up my LLC bank account but corona has made it crazy difficult and I kind of forgot about it after sinking 4-5 hours into meetings with bankers/IRS phone calls to get all the paper work since I need one more thing for my bank to open the account. My question is if the bank already put my new income into the computer as 40k (but I don’t have tax return receipts and haven’t deposited more than 15k in the bank this year) will I be eligible for a mortgage if I need it in say 6 months if I cash out a bit of Link for a down payment on a duplex? Or should I just say fuck and wait longer and see if Link hits 1k and just buy a duplex cash?

>>21363470
>>21362739
>>21362366
>>21362111
>>21361339
Man your posting style is annoying as fuck.

>>21373683
Thanks, so theres not much difference sending to PayPal at all? Just purely diversifying.

>>21359250
I NEED TO PAY RENT AND FOOD

>>21373778
>reddit spacing

>>21373778

Cry

More

Bitch

Ass

Nigger

>>21373483
Most of my Fidelity personal "Rollover IRA" account (rolled over from an employer) is invested in FCNTX (or FNCKX) and it has performed very well for me. Google it for a chart. You can invest in Bitcoin penny stocks like BTSC, GBTC, and BTCS. I also have checking there and a debit card for it. You can call 24 hours a day for someone to help you with investing.

to every burger in the world: have fun explaining your gains from trading an unregistered security to the IRS

>>21371675
based

>>21364375
Yea, If only we had a way to track/record transactions in a decentralized manner while assuming everyone is a bad actor on some sort of immutable ledger.

>>21359250
here here good sir

>>21374689
FCNTX is Contrafund, and it's been baller since 2008. Like 20% gains per year average. Have mine in that too.

>>21359197
>1 million isnt that much
I hope they delete your funds you fucking nigger

>>21369116
>a car
Why is this always something people point to about making it?
I have a 2009 Ford Fusion I bought for 4500. I'll keep it until it drives on only one wheel

>>21371498
Just alert them beforehand that you'll be transferring whatever the sum of money is

>>21374899
We could call it a black chain.

>>21359099
>>21359127
>>21359496
>>21360919
faggots just get haven protocols

If you are not getting yourself some VPX - WHAT ARE YOU EVEN DOING?

Will my bank give a shit if I cash out something like $5k? I don’t know shit about taxes and I’ve never worked before.

>>21359099
Why did you sell that much at once. Please anon. Please. Never do that.

>>21359197
>bank of america
Not your fault you didn't know, but jesus man.

>Trying to deposit over a million dollars out of nowhere

fucking moron OP kek enjoy losing your money

>>21371697
>objectively true
This is your sticking point, m8. Business today is all politics.
Business that isn't done on an American controlled platform is automatically hostile because it isn't giving them business, because you are not associating with them. It's a political decision to associate and do business with somebody, and because you chose to do business with a Chinese HSBC associate instead of BoA, you made yourself suspect.
Furthermore, such affairs are civil regulatory issues, not criminal, and the government has broad authority to squeeze you by the balls until you explain why you chose to use that service instead of their "preferred" service. The fact that drug cartels and other criminal organizations decide to use the same method to avoid regulations/audits doesn't help your case either. You are effectively voting with your money against the United States' further control of the world economy, making you a civil opponent/potential enemy agent going against the invisible ruling party of the United States.
tl;dr: Libertarians still do not get that business does not happen in a political vacuum.

>>21370373
>title company who facilitates the sale doesnt care where it came from.
But the government does care where the money came from. Otherwise I could sell 1 million worth of drugs and make a 1 million cash transaction into the bank and "just pay the capital gains and they dont care bro".

>>21375770
So what is he supposed to do? Have all that cash on some shitcoin exchanger? Get fucked when you get caught doing structuring? just lol

>>21376664

you put it on a wallet you mong

>>21371066
>>21359859
dumb niggers.

>>21376688
>you have big number on computer screen
so fucking what

>>21376712

You're right, he should cash out into fiat and give it all to the government and banks

>>21362974
So, what if you used Binance and live in the U.S.?

>>21376783

Did you lose money on your crypto trades using Binance? You're most likely good.

Did you make mad gains? Well....

>>21374958
is he saying 'coooom'?

>>21359099
LARP.

>>21376919

keep it on a wallet, cash out what you need. if your gains are that high, it wont matter. transfer to stablecoin and enjoy.

>>21365038
It all used to be so easy...

>>21376879
Land of the free blacklisted it. You are going to get fucked by tyrone for this.

>>21369954
Madrid/Barcelona in Spain are the best places to live, however, you need at least 600k for a nice house that is close to the city, and by close I mean 30-50 minutes. 2 hours and for 400k you can get a nice house, but its two fucking hours to arrive in the city.

I would be ok with 30-50 minutes but 2 hours is insane, so I need 60k.

However my dream house is a 1 million house in the green forresty party of barcelona. You wake up and see the entire city and the sea, and you are surrounded by trees. But like I said before that is 1million starting point for a nice house in such places. FUCK!

>>21359099
next letter is gonna be from the IRS
Fucks sake why wouldnt you contact the bank first...fucking neets I swear.

>>21375004
if you think 1 million is a lot you don't understand money.

>>21377023
How come I can still use it then?

t. American

>>21376964
this. People seem to forget that this is a method for fucking the banks. The whole purpose for decentralized banking is to subvert the current system. Thinking that these companies are going to help you fuck them is pure delusion. You need to start paying for shit with fucking gift cards if you want to use your gains.

>>21368586
What about spending your life saving on buying a motherfucking house because you are stuck in your mom's flat with 0 privacy at 30 years of age? because the moment I finally have 300k or so saved im buying the house. Im just paranoid as fuck to get a mortgage because I make a living from Adsense and other than that I have no education or job experience so as long as I can keep making Adsense bucks im fine but I dont want the anxiety of having a mortgage. Ideally like I said I would need 600k.. I would fucking buy it... then start saving from scratch and start making a nice index fund portfolio for the long term. Making a living from dividends its a pipedream for richfags but the rest of us need to keep wagecucking and hopefully the index fund savings in 10 to 15 years can give us a mediocre retirement.

I just cant fucking believe I missed on BTC AND on shitcoins that got shilled like chinklink. And I also missed out on TSLA and Amazon.

FUCK, how the fuck do I buy something cheap that will go big? how do I get LUCKY?

>>21377311
But whats the fucking point of being rich if the only thing you can do with your money is buying amazon gift cards? lmao

>>21373394
Don't ever put large sums of money in PayPal. They can straight up steal it and get away with it. You've been warned

>>21377392
in this day and age, most of your nonessential shopping is done on amazon so what's the big whoop? wanna fight about it?

>>21377311

This. If you are using Coinbase, transfer funds to usdc coin and sit back and reap the rewards.

>>21359099
You fucking retard, all you had to do was to convert Link into fiat on the central exchange, and take what you need gradually.
Withdrawing to your bank account is room temp IQ move.

How much gets flagged by the (((banks)))? Would ~20k get flagged?

>>21377792
absolutely lmaooo
they have monthly flags, yearly flags, and break it up too much too evenly and that itself is illegal (structuring)

you pretty much can do a few grand a pop, a few times a year, and anything more you're risking it

>>21376567
Dude how many times do i have to tell you? WIRING MONEY IS NOT THE SAME AS A CASH DEPOSIT.

>>21377954
>they have monthly flags, yearly flags, and break it up too much too evenly and that itself is illegal (structuring)
You are talking out of your ass. None of that applies to wire transfers or ACH. Will you pajeets stop posting that tired old fud. Ive moved multiple 5 and 6 figure sums of money and the bank never gaf.

>>21378050
from a crypto exchange?

does anyone know if Vanguard pulls this bullshit?

I know they're not a bank but a brokerage, but you can still keep all your money there (treasury bills if you don't wanna risk) if you're not too fussy about having little to no FDIC insurance

>>21362739
What about staking and all that weird shit?

If you for instance make money with XSN masternodes, sell it into Livecoin for BTC, then put the BTC in coinbase then sell it for fiat... once they ask and you give such an explaination you are fucked? imagine some 58 yo boomer hearing how you made a lot of money staking some tokens lmao its fucking over

>>21378210
You mean sending the fiat from the exchange right into Vanguard? wtf. Don't they require an actual bank account to your name? you would be depositing in name of some shitcoin exchange, pretty sure it wouldnt he smooth

>>21378008
So what nigger? the gov will ask how you made that money. Otherwise you could sell drugs on Tor and then get the BTC on coinbase and get your fiat on a transfer.

>>21378137
No, but my point still stands. You dont get flagged unless its cash.

>>21378383
>Don't they require an actual bank account to your name?

I honestly don't know. I've been pondering the idea of switching to a pure brokerage like Vanguard or Schwab for a long while now, since I distrust brokerages slightly less than I distrust banks. I just haven't gotten around to reading up on what other pros and cons there might be (or, indeed, if it's possible at all)

>>21378419
And how did you get the crypto in the first place? Geez how retarded are you dude. If you wanna be 100% legit you report every trade you made and pay tax. It's not that difficult.