/biz/ - Business & Finance

The boomers will gladly authorize full communism if they think it will make their savings and pension funds whole once the whole thing starts to come down.

>>28167859
Lmao these jews don't give a fuck. They'll outlaw crypto in 3 years.

>>28167859
What would you propose?

>>28167937
You're right fren. They would sell their grandchildren to gain a few extra years full of pills and television.

>>28167859
>Contact your representatives
what use will that do, the elites will just fake any vote anyway

>>28167859
I think we are going to be okay.
Mastercard/Visa/Paypal and Elon are on our side.
We just have to hope one of them lobbies the puppets in our favor.

>>28167965
Me? Only get taxed when you sell crypto into fiat like a dip shit and that would be a sales tax.

The like kind tax is a start. Ted was right. Americans could trade freely if they weren't taxed for the value of a bitcoin when swapping to etherium. That should NEVER be a taxable event.

All taxation is theft.

>>28167943
No they fucking won't, 90% of them are transparent and fully traceable. It's exactly what they want, surveillance and control. Cash will eventually be phased out entirely.

I am thinking about sending Janet Yellen an e-mail asking for stricter regulation. It's not fair that neets like you who have never learned a serious profession are making more money than people who work hard and earnest for their living. Enjoy your coins while you still can, my girl Janet is going to kick your asses!

>>28167943
If you're American, you shouldn't be laughing you should be very fucking angry.

>>28168089
change starts at a local level, then state, then federal. our representative are our only hope. fortunately, both sides of the political fence are into crypto and don't like getting fucked.

>>28168090
The whales need to take one for the team and push for reform. I'm just a leech and would donate an eth or two for the cause.

>>28168150
They want to keep us poor.

>>28168252
We lost a long time ago. I'm buying Russian citizenship and leaving this nigger jew shithole.

>>28168150
tumble my fren

>>28168363
You know you could run and hide like they do in other shithole countries or you can just make sure to do everything Janet Yellen says and maybe everything is going to be fine. Maybe make sure she ll become the next President of the USA.

Winning the cold war means paying more and more taxes FOREVER.

>>28168168
infantry at 17, journeyman at 25, business owner at 30, dad at 32, not worried about a retirement at 40 thanks to btc, gold and guns.

>>28168344
checked. suck it and fuck it.

>>28168486
What?

>>28168363
russia is a fucking shithole outside of st pete's and moscow.

>>28168488
fuck that Orwell novel right up the ass.
checked

>>28168652
Imagine America in 20 years... Yeah I'll take my chances. Enjoy!

>>28168726
move to an unfucked state that has a strong constitution that checks the feds. there are a few left.

>>28168523
turn yourself in! you are only allowed to own the money you make from your hard and earnest living. Bitcoin profits should be donated to charity because it's not fair to make money that way, it's too easy. Gold is good though, do you know Peter Schiff? he is awesome, you can keep your gold anon, I won't tell Yellen about that, the btc on the other hand, it's not fair.

>>28167859
Despite what the China FUDers meme, BTC is still very much a US-centric thing with Europe a very close second. The more tax and regulation on crypto the more people will just leave the west and take all their gainz with them.

>>28168652
America is a fucking shithole ... everywhere?

Another way to sell it to boomers is a play on the cold war. Tell them that if we don't change crypto taxes, we will loose to the communists and the Russians.

>>28168775
>move to an unfucked state
I've been thinking about this for while. I don't think you can hide from whats going to happen in the US. The rural flyovers are real naive about how bad things will get because they don't even understand whats happened to California in the last 30 years.

>>28167859
my representative is Jamaal Bowman, who is only concerned with taking my money and giving it to colored people. He will absolutely not give a single fuck about me or my tax problems.

>>28168787
kek
>>28168866
checked, true. imagine if I could stay here and swing crypto without having as much tax as gas fees.
>>28168867
travel more?

>>28168919
colored people have been suffering for ages under the oppression of the white man, you should gladly donate your money to them anon.

>>28168901
The mountain region is well aware of how fucked California is. Many states have passed laws to prevent that level of faggotry.

>>28168787
>btc on the other hand, it's not fair.
Its still early but look how 5 years ago the Bernie people want stock traders to pay for their university education. Just wait until they catch on to the profits being made in crypto.

>>28167859
is this dude even alive still?

>>28168999
checked, wasted digits. how do you know I'm not a nigger?

>>28168999
checked. I'll be liquidating everything tonight

>>28169047
Doesn't matter, he is just a figure head. Its homosexual Clinton advisors running the show.

>>28168901
>I've been thinking about this for while. I don't think you can hide from whats going to happen in the US
Boomers are very naive, they deny the demographic shift, hate “racism” and believe in qanon and libertarian bullshit. They don’t understand that Trump was the last white male president of the jewsa

>>28169017
well it's only right that other people get to share in your gains anon, imagine you are a student with a debt and somebody else making huge gains with magic internetmoney, the US needs more socialism to rectify this, people should own nothing and be happy.

>>28169017
Tell them we will take a tax when selling a consumer good into fiat. Once we can freely trade, they can tax the fuck out of the dummies who want a quick buck and some funny money. They're mostly in the 90IQ range and would buy it.

>>28169047
I've wondered that myself.

>>28168119
Doesn't work though, because there are already cards which you can tap into shit for individual transactions, which is far messier than just doing per-trade basis. You realize that you're more or less taxed the same amount regardless of per trade or cash out, right? The part where you get fucked is inter-year and getting taxed before a transaction fee occurs, but it's then built into the next taxable event.

>>28169075
>>28169082
the brutality and injustice of the white man knows no boundaries. it's not too late anons, you can donate your money to the BLM movement or you can just create your own banners and join the peaceful protests.

>>28169169
starting with the politicians, yes. own nothing, eat bugs and onions.

Why ever cash out? Cash is going under. We can trade in crypto.

>>28169450
this! but it's not fair for the institutions and banks who are relying upon the fiat system. It's not fair if you get rich while they get poor, they have been around a lot longer and deserve a lot more respect so maybe we should start a charity for banks and hedge funds and donate our gains to them?

>>28169269
If I swapped 1eth for 10ltc right now and held it while the value dropped to 10 dollars, I would still be paying tax on 1741 dollars. How the fuck is that better than managing capital gains when cashing out?

The government invented the internet therefore it stands to reason that you owe 90% of your income to them.

>>28169450
We are never cashing out yet we are still taxed when we swap a coin to another coin or token. That is fucked. If you get taxed for the swap and then cash out, you are taxed twice. Fun eh?

>>28169606
Yeah, Al Gore invented it. CBS told me so.

>>28169606
based! Also we should donate some profits to Bill Gates, without him none of this would have been possible.

>>28168252
Adding to this, if there are any Utah anons they've passed several laws there making it much easier to use gold and silver as currencies (which made liberals in SLC seethe), so it might be worth lobbying for the state to become more crypto friendly.

>>28169753
The millionaires and billionaires!

>>28169834
exactly, the rich can only enjoy their riches if the rest of us are poor. Don't be selfish, donate your money.

>>28167859
This should be top priority. With all the corruption coming out there has never been a better time to push this. Countless normies were redpilled by GME and they have yet to be satiated by stimmy checks. If this DOESNT happen all of that energy will be funneled into socialist policies that will end the middle class for good. The elites actually WANT this to happen because they will be able to dodge most of it through charities, NGO’s, and all the typical bullshit. Meanwhile no one in the middle class will ever be able to amass meaningful levels of wealth again due to the new tax structure. IF crypto is not made a priority NOW by the people, elites will continue pushing their “tax the rich” agenda.

>>28168252
>change starts at a local level, then state, then federal. our representative are our only hope. fortunately, both sides of the political fence are into crypto and don't like getting fucked.
have you been in a coma the last 6 months?
None of it matters anymore, they stole the election with zero repercussions, then boasted about it in TIME magazine

Voting and politics no longer count

>>28169970
I like the expression her face, how she is barely able to even tear a piece of paper hahahaha

>>28169601
That isn't how it works. Your situation only occurs if you sell the ETH in year 1, never take into account taxes, and then in year 2 take your losses. You are taxed on TOTAL PROFITS for the year, and if those total profits end up as total losses, you get to deduct 3k of them from your taxes.

>>28168901
It's the retards who are too dumb to stay in California that don't realize how fucked California is. Not everyone else.

>>28169809
awesome

>>28169970
Based. Or we kick off a revolt.

>>28170083
Why aren't you shooting then?

>>28170403
No Anon. You need to seek a tax professional since you don't quite understand how fucked it is. I would sit on normie base and trade shit all day long making hundreds each day if I could sit there and swap between eth and whatever else dipped. Every time you swap a coin for a coin, it is a taxable event on the property, valued at the exact moment the transfer took place. If you did a transfer of 1 eth to USDC, you would be taxed at the value of eth at the time of transaction, do it ten times and you owe taxes on whatever eth was going for times ten and then the percentage is based on your income bracket. Read up or get your shit pushed in.

Who needs tax reform when there's Tornado and Monero?

>>28170403
You are confused with a cash out of your crypto under capital gains tax. You will also pay that if you cash out in under a year and at a somewhat smaller percentage after a year. Double taxation. Once you have more than a few hundred thousand in crypto, you will figure out how fucked your tax situation is.

>>28172420

Fuck that shit. I imagine if you just pay them 20-30% of whatever you are cashing out, you are fine and not gonna get audited.

Here is a better example. I suck at explaining it.
Crypto Crypto
John purchases 5 Litecoin for $250. After holding onto his Litecoin for a couple of months, John trades all 5 Litecoin for 0.5 ETH. At the time of the trade, 5 Litecoin is worth $400.

In this scenario, John incurs a taxable event by trading his Litecoin for Ethereum. Trading one crypto for another is treated as a disposal, and here John incurs a $150 capital gain from the trade which he would need to report on his taxes (400 - 250).
https://cryptotrader.tax/blog/the-traders-guide-to-cryptocurrency-taxes

>>28173469
They have been waiting to skull fuck me for years. I kept some of my gear and they took it out of my taxes for a decade. Targeted even more since I'm conservative and white. I keep my shit squared away and powder dry.

>>28167859
as long as they dont pull that "unrealized capital gains" bullshit like that goblin janet yellen bitch is rumored to support, im not that upset about realized capital gains. oh boo hoo i cant sell all my future coins for stinky hyperinflated zion coupons at once, woe is me

>>28168999
i do twice every month it's called "tax withholding"

Blame Elon for brining attention to crypto

>>28173657

That sucks ass, man, but I'm pretty sure if people without an IRS history cash out 100k and then pay 20-30k on it in taxes for the year, I'm good. Of course I have no idea if this works, but would rather leave the country than report all the uniswap shit.

>>28169008
>implying the feds give a shit about laws

>>28167859
if you wanna win over your politicians just tell them that china and europe will dominate america in the future because they're more progressive on crypto regulations

boom, there you go, doesn't matter if they're left or right, both sides hate losing to other superpowers

>>28175022
yeah, about that...

>>28169601
No retard you'd pay taxes on the profits not the total value. /biz/ are brainlets when it comes to taxes they discourage swinging because they think their net after tax total will be less when in reality if someone is able to double their stack by swinging during a moon would end up with over 80% more profits than someone who just holds through the whole pump. Even if they held for a year to take advantage of the long term capital gains taxes the 0% only applies to the first 40k of income.

>>28173505
Except if he cashes the ETH for 400 USDC he is not taxed on existing gains.

>>28169008
What the fuck are you talking about? Colorado and New Mexico are already solid blue, Idaho and Montana are taking in massive numbers of California refugees, Wyoming could be flipped just by doubling the population of Fagson Hole or letting Kanye build Wakangda. Add increasing immigration, legal and illegal, and you're fucked. Same shit as in Texas.
The only law "to prevent such faggotry" would be banning immigrants from the coasts, but their home values are so high (propped up by letting China buy fucking everything) that they can in turn prop up real estate values inland, so boomers throw open the gates.