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/biz/ - Business & Finance

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2216700 No.2216700 [Reply] [Original]

Why go long on bitcoins when you could trade them and make a killing?
People on Localbitcoins sell overpriced coins (think over 30% of current market price) and buy them cheap from desperate normies.
As long as you trade on a daily/semidaily basis, I don't see how this strategy could be any less safer than actually holding them and being open to risk

>> No.2216721

>>2216700
There's people in the US who have actually gotten arrested for that recently.

>> No.2216750

>>2216721
Who exactly?

>> No.2216751

>>2216700
>>2216721


Explain why are people arrested for selling bitcoins at upmarked prices on local bitcoins.

>> No.2216766

>>2216721
in the UK they'll close your bank account

>> No.2216782

>>2216750
>>2216751
Try to pop up +30k in your balance with out explaining.
>not usuing banks
You will get shot
>usuing PayPal and similar sites
Your monte will get frozen and stoled by they.

>> No.2216800

>>2216782
Probably just for not paying taxes which can get you arrested for any sort of reselling, not just localbitcoins dumbass.

>> No.2216875
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2216875

>>2216782
As long as you pay your measily fucking 15% capital gains tax you'll be fine.

People act like this is muh theft but the capital gains tax can never take you below zero. It just reduces your gains boy 15% and redistributes the wealth so you can have traffic lights and public schools and fucking 7 military interventions.

>> No.2217026

>>2216875
This. Nothing but entitled children and manchildren on /biz/ I swear. "Why do I have to pay any taxes waaaaah"

>> No.2217057

how does localbitcoin work? how do you make sure they send the bitcoins or the money?

>> No.2217071

>>2216875
>>2217026
some states (US)/ countries also require you to provide an ID of the other party of each transaction
cucks are gonna cuck

>> No.2217072

>>2217026
I don't mind paying taxes, but not to circumcised jews who ritually murder children and consume their blood :^) yuck

>> No.2217084
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2217084

>>2217026
>i love paying taxes like a good cuck. anyone who doesn't enjoy being a cuck is a manchild!

>> No.2217124

>>2217084
literally leave your country for one with a tax system more in line with what you are looking for then. nothing less dignified than trying to skirt around the very basic terms of playing that have been laid out for you

>> No.2217125
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2217125

>>2217026
>you b-better pay for my healthcare or you're entitled!

>> No.2217133

Great idea if many people would actually like to buy 30% overpriced coins. You know, 50% would be even better then.

>> No.2217144
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2217144

>>2217124
>i-if you don't agree to these terms that you had no choice in agreeing to you're undignified!!!
>y-you're just a manchild if you don't enjoy being stolen from! I bet you don't even let people fuck your wife!

>> No.2217163

>>2217144
>>2217125
>>2217084

pls stop. it hurts.

>> No.2217185

>>2216875
>Roads are filled with potholes
>Traffic everywhere because most infrastructure is 50 years old, and built to handle the population we had 50 years ago
>Public schools are leagues below private schools and homeschooling in terms of outcomes of students
>Public school staff now inject their teaching with their political views and whatever versioj of "history" and "science" that is popular at the moment
Fuck off with your tax meme. Public funding is a fucking scam.

>> No.2217193

>>2217144
you staying = you agreeing

generally speaking i feel just about content with the level of service my gov give me for my money. the minute i feel like i'm not getting value for money i'm out of here. why sit around bitching or trying to "tax evade".

>> No.2217207

>>2216875
Where's your capital negative taxes when you make losses on this risky investment?

>> No.2217214

>>2217124
Don't have enough money to do that, literally because of the tax system. Yuropoor = paid less and forced to contribute 1/3 of salary to government pensions 40 years down the line that will be mathematically impossible to fund.

>> No.2217218

>>2217207
In Canada, capital gains losses are a tax credit and you can carry them back and forward years

>> No.2218403

I don't understand why so many people love to have their money stolen.

>> No.2218437

>>2218403
what are you implying?

>> No.2218755

>>2216750
Duckduckgo: Burt Wagner, case from 2015. Charges dismissed but left with huge debt from legal expenses

>> No.2218763

>>2216766
> What's Fidor UK?

>> No.2219335

>>2216875
>pay taxes
>get pulled over for minor traffic infraction, dealership plastic rim is sort of covering license plate but not really. you can still read numbers.
>cop asks to search spontaneously
>say no,
>cop brings k9 anyway and k9 just sits there being dragged by the collar around my korean compact car.
>3 laps around dragging the pooch and the pig is tapping with windows
>the dog is confused while the pig tapping the windows rapidly and lets out a half bark
>cop then puts the dog back in the car and comes to tell me he now has probable cause to search the vehicle.
>sit there as more cops pull up
>wait 30 minutes for the show to be over.
>get a warning and leave with everything in my car torn to shit.
>land of the free and home of the brave