/biz/ - Business & Finance

Delet
Or this shit isn't going to last.

>>25889217
honestly, asteroid mining will probably strengthen the price of gold

yeah but the pmg jews will fuck you in the end bro. just happened to me

>>25889217
Cashing out to gold doesn't actually solve the tax issue. All you're doing is kicking the can down the road. If you ever choose to actually sell your gold, you'll still need to report capital gains and pay tax. If you're a jobless NEET and suddenly the IRS sees huge deposits going into your bank account and then buying a million dollar house, you're going to get flagged and they're going to want to know how you made that money.

>>25889380
Yeah when you wanna cash out shekelstien bullion ltd will tax you 20% anyway.

>>25889380
How did they do that bro? Please do tell

>>25889513
if you sell $10k or more at a time

>>25889217
are you retarded?

selling crypto to X, be X fiat or gold is a taxable event. You change nothing except you now have 50kg of worthless illiquid rock that the jew will buy 20% under spot from you

>>25889513
>buying a million dollar house out of the blue

why would I do such a retarded thing?

>sell gold, report capital gain and pay tax

That's why I said that you have to keep you gold around until it becomes a long term asset and you pay less taxes

Look, taxes can't be avoided unless you are a billionaire, what I'm saying is that this is how you avoid capital gain taxes when you cash out your crypto

>>25889290
considering bringing back 5.2grams from extreme near earth asteroid 162173 Ryugu cost $179 000 000 and took 6 years I'd say it would be very bullish

>>25889272
yeah delete this shit asap

>>25889518
liquidity is bad for private transactions, so you go to a dealer for physical gold. try unloading $100,000 worth of gold the same way you would btc, not going to happen.
but the dealer's spreads are often 20% so it's the same as paying a tax.

>>25889606
Are you retarded? I said BUY gold WITH crypto, not SELLING crypto FOR gold, bitcoin is a pay method now, how can people be this retarded?

>>25889606
well the point OP is trying to make is that if you actually use it to buy something else that isn't crypto or FIAT you don't get taxed. But I'm not sure myself if that's how it actually works. Let's say hypothetically this bullrun people start allowing rental payments in BTC or ETH, would you get taxed for paying rent with crypto?

>>25889584
If you sell less than 10k at a time to avoid automatic IRS notifications, that's structuring, which will get you completely buttfucked by the IRS and your bank account will get frozen.
And even besides that, you're still going to get flagged if you buy major assets like a house without a mortgage or job.

>>25889217
No. If your income is low enough, and you hold the asset for a year, the capital gains tax is zero up to a limit (80k maybe?).

>>25889691
are you retarded?

If you BUY gold WITH crypto it means that you SELL crypto for gold

but no anon, I bet you are right and nobody in 10 years has ever thought of that groundbreaking method of yours. Wow you are a revolutionary

>>25889669
But why in the fuck do you guys always assume that one has to sell all the fucking gold at the same time? Just don't sell all at once, time your sales and problem solved

who sells gold for bitcoin?

>>25889696
>that if you actually use it to buy something else that isn't crypto or FIAT you don't get taxed

this is flat out wrong, buying anything with crypto even a house, anything really, counts as selling crypto which constitutes a taxable events

>>25889217
she died from that scene from painting all her body gold or so it is told

>>25889771
idk i only hold crypto and stocks
>>25889802
a lot of the dealers, peter schiff included

>>25889831
That's not true, buying gold is not a taxable event retard

>>25889802

JMBullion

>>25889764

Are you retarded, how the fuck BUYING gold is SELLING crypto?

>>25889691
If you buy crypto with a different crypto it's taxable and if you buy gold with crypto it's taxable.

>>25889884
ask you fucking accountant or use google, imbecile

Imagine arguing over facts in the Information Age

>>25889884
>buying gold is not a taxable event retard
In the US, it is. Trading crypto for any other commodity, including other crypto is considered taxable by the IRS.

>>25889625
And it costs medical facilities millions of dollars to grow a few ounces of cubensis to test on patients, but I can grow 4 ounces a month in my closet for $20. This was not a mass industrial harvesting test.

>>25889217
buy silver lol

>>25889974
Delta V != administrative overhead, anon

>>25889884
>SeX7n6Kd
>sexy kid

But seriously, you don't have a fucking clue what you are talking about.

>>25889974
are you saying that you will build your own rocket and bring back 20.8 grams of surface dust from 162173 Ryugu for $20 and the reason Japans best and brightest couldn't do it cheaper is because they were to safety concerned?

you do realize that Hayabusa2 is the second Hayabusa, right? the Japs have been trying to get this done cheaper and faster for two decades

I just googled it. It said 0% Long term cap gains if you make $40,400 or less. 15% if you make $40,401 and 20% starting at like 400k

>>25890135
Not buying your useless metal bags faggot

>>25890338

Yeah, but these faggots think everyone is a retard like them making six figure transactions all at once

>>25889970

Looked it up, and no such thing exists

>>25889887

>ask your accountant

see? you don't even have proof of the bs you're spouting retard, I googled it and there's no clear statement for gold bought by crypto as a taxable event, god imagine being this retarded

>>25889625
Yeah I heard the plan is to send a new rocket for every 5.2 grams. Insane right?

>sells crypto for gold - pays tax on transaction.
> sells gold for fiat - pays tax on transaction.
> buys products with fiat > pays tax on transaction.
Fuck this world.

>>25890696

Why are retards thinking this will do anything, at all, to diminish the value of gold? And who the fuck wants space gold anyway, that sounds like a fucking cancer rock to me

>>25890659
listen imbecile, this anon here >>25890338
talks about longterm cgt on gold, that means AFTER you already bought gold with crypto which is what we were discussing. Before your trade to gold your cgt on crypto gains is due, then new count of gains begins on your gold.

You are even too fucking dumb to follow a simple conversation, let alone researching a situation. After being btfo by
>>25889887
>>25889970
>>25890223
you come back with absolutely no arguments.

>>25890860
they want bitcoin to be seen as "better than gold"
problem is that bitcoin is inherently weaker than gold since bitcoin needs a safe, stable and decentralized network to function properly
anyone with 51% of the hash power can block all btc transactions and double spend as much as they want - impossible with gold

>>25890163
>>25890237
A basic space fountain is estimated to cost around $9 billion to build today, ignoring government and international laws and regulations. A space fountain changes your cost/benefit considerably and doesn't require extra-atmosphere propulsion at all. I'd say the administrative costs and challenges are absolutely relevent in similar ways. Sounds like the nips are focusing on the wrong tech completely and not reward focused.

>>25889217
Don't the gold buying sites require KYC? Any anon actually did this?

>>25891094
But you're saying that is taxable and you don't quote any sources faggot, it is not taxable, why are you this retarded?

>>25891185

There's no way to avoid KYC with gold anon

>>25891534
In Germany, you used to be able to buy 10,000€ worth of Gold without KYC. That limit got lowered to 2,000 two years ago

>>25891717

They make it more difficult to build wealth every day man

>>25889217
>10 years
>still under 2K