/biz/ - Business & Finance

it's a meme. just don't cash out over 5k at once, or you'll get on the radar. go slowly.

Yes you can cash out but you'll get raped by fee's and you'll get taxed a shit load if you're a burger, dont know what its like for other countries.

>>4586871
basically this

do it fucking quietly, if you get greedy you get taxed.

>>4586847
I cashed out on litebit.eu
only £200 though

>>4586847

It's just bored kids meme-ing. I've cashed out well over 100K EUR with no problems whatsoever. 0% capital gains tax FTW

sure you can cash out.. what you have to do is buy anime figurines for bitcoin on play-asia and then sell them on ebay. its what I did they dont sell too fast though

>>4586847
That's your stack?

>>4586976
that's asking for trouble. As much as I think the tax rate is too high, I still pay my taxes. Just don't cash out anymore than you need so you can keep making money on the parts that are untaxed.

Also, as far as I understand it, they aren't entirely sure how they want to go about proving they know how much crypto you have to be taxed on. If they audit you they basically admit to doing a warrentless search of your assets

>>4586967
>>4586900
>>4586871
>>4586976
>>4586994
nice try shills
proof of your cash out?
nobody would pay you real money for your virtual tokens

Are you actually retarded? You can even buy fucking gold or silver.

>>4587083
just stop, please

>>4586847
Will BTC crash after 10k? Can it really keep up the momentum?

I'm really thinking about setting a sell order now for 10k, taking my money and getting off of this wild ride. I know it will dip hard once it hits 10k but I don't know if I want to buy back in or not. I think I'm going to quit while I'm ahead. It's been fun, I've made a good profit, it's time to retire

>>4587059
sounds like he's in a country with 0% capital gains tax, not dodging taxes.

>>4587256
have you ever done it? or just "heard someone did it"?
it's really hard to cash out because you have to find people to buy virtual tokens with real money
nobody will do that
>>4587308

>>4587576
Ofc people are cashing out. It's easy, you just got to do it over time, smallish amounts over time

>>4587815
how small would you say?
With the holidays coming up, I wanted to get out about $500 just to have gift money for family.

>>4587815
nobody has ever cashed out, stop lying
who's paying you? Poloniex?

You can cash out easy as fuck. Go to localbitcoins and sell your BTC for cash, you retard. I can't believe anybody actually fell for this meme.

>>4587576
are you fucking retarded? you know microtransactions are a thing right?

One day i ate suchi and dipped it in a sauce and holy fuck it was so hot my sinuses exploded

>>4586847
only small portions.
100.000 for example will take a really really long time.

people who say they could cash out without problems are larping

>>4587576
I'm starting to think the whole you cant cash out thing is a fud shilling campaign.

You can cash out in 15 mins or so with localbitcoins i've done it multiple times.

>>4588243
you need to find people to buy your btc tho
also isnt that scary
>already sent btc stuck on qeue
>buyer already sent you the $$
>you resend the transaction with higher transfer fee
or does localbit have a system to not get scammed?

anyone know how to cash out in japan

>>4586847
You can't even take it out? Man I was thinking about investing in this shit but fuck, what's the point if you can't even cash the fuck out?

Am I retarded? I don't know what's going on, I just got here, but you're telling me these mother fuckers with 5, 10, 50k coinfolios can't even cash it the fuck out?

What's it doing? How many drugs could you even purchase?

>>4586847
In UK a couple of major computer part retailers accept bitcoin, worst case just buy tons of their newest stuff and resell.

I also see people sell their btc on bittylicious so cashing out is pretty real and easily doable

>>4588240
So what do you say about biggest online PC/IT retailer accepting bitcoin as payment?

>>4586871
>>4586900
>>4586945

Why does nobody understand taxes and finances?!

You can cash out however fucking much you want. Large amounts of money don't put you on the radar dumb shits, going from NO money to alot will put you on the radar.

Regardless, IRS wont touch it or you unless you dont claim your huge gains on your next tax filing.

If you make 50k/year working then quit your job and start withdrawing 50/year of your crypto, nobody will fucking car as long as you keep paying about the same amount in taxes as you were before.

If you cash out 100k at once, just fucking pay the correct taxes on it. You dont need a lawyer, you dont need an accountant, you can do it easily in quickbooks.

Why are NEETS so scared of large amount of cash like its some mythical beast that always summons "the taxman"???

>>4589017
because maybe we think it's bullshit that you have to pay taxes on money that you risked in the first place?

>>4589017
I ain't paying anyone money

I've cashed out a couple times..small sums under 400. Just used my coinbase account to transfer it back to my bank. No fuss.

>>4589017
Actually you can't file online if you make 100k. You'll need a tax accountant of sorts. Even if its liberty or whatever

>>4589017
Lol why are people so fucking greedy... if you held for 1 year and made a million dollars, you really going to cry paying 20% capital gains ... 200k .... YOU STILL WALK AWAY WITH 800k....LOL LONG TERM CAPITAL GAINS ARE SET UP SO GUYS LIKE WARREN BUFFET PAY JACKSHIT IN TAXES IT ISN'T ROCKET SCIENCE.... you wana sit on your ass watching the biggest money making scheme of all time set you up for life... pay the price and do whatever the fuck you want after.

>>4589017
Bitcoin seems to attract three main groups: technophiles, regular market speculators, and then "taxes are theft" wackos.

>>4588212
Use the gyft app I've done all my Christmas shopping with it

>>4589017
>>4589030
>>4589048
You can cash out 10k/day on localbitcoins completely anonymously if you live in a large metropolitan area

cold hard cash, no questions asked

>>4589124
>20%
>jack shit

Good goy.

>>4589135
taxes are motherfucking theft brah

>>4589184
Ah, so like a drug dealer?

>>4589030
you're not paying it on money you risked, you're paying it on gains you realized.

if you lost money, you could deduct that from your taxes.

you will get audited if you don't pay taxes on large portions of income and you will have to pay it eventually.

>>4589240
okay, don't drive your car or walk on a public right-of-way for the next month

>>4589354
Why wouldn't there be roads in anarcho capitalism
pro tip you cant

>>4586847
Literally impossible to cash out. Go ahead and try- you will lose all ETH/BTC and get no money in return. We all fed into a scam.

>>4589409
If you can't cash out then who did I buy it from?

>>4588756
>How many drugs could you even purchase?
well, many dealers do accept alt-coins for payments (monero). how do you think ppl sell dope online anyhow?

>>4588373
>You can cash out in 15 mins or so with localbitcoins i've done it multiple times.
how much are you being paid by localbitcoins, shill? you literally CANNOT cash out
nobody will pay you real money for virtual meme tokens

>>4589017
>have your money in form of something very hard to track
>willingly make it easy for the government to know you're making money unmonitored and give them a big cut of it for free
>making fun of people that would rather not want to lose their money so easily

Haha! Sure showed everyone.

>>4589675
>use government money to make money

You forgot that part bud, unless you mined your coins... which you didn't.

>>4589135

The three groups are actually:
>ledditors who believe in 'muh technocracy' and spend their days smoking weed and watching R&M (these are the people who tweet about crypto to normies)
>wolf of pajeet street market speculators
>people who are well read enough to understand taxation is theft and government is basically an elaborate prison in which a small group must work to pay and support everyone else.

>open trust in marshal islands
>open shell company in nevis controlled by trust
>open shell company in seychelles controlled by nevis company
>open bank account in british virgin islands for seychelles company
>create new anon trading account over vpn/tor
>move crypto bags in and swap for zcash/monero/wan (or wait for atomic swap adoption or use shapeshift)
>create new trading account link to british virgin islands bank acc and move in zcash/monero/wan
>cash out
enjoy

>>4588378
LBTC has an escrow system. All you do is make an ad. There’s also reviews on other peoples profiles to make them not sketch. You can also go to the Selling section and see all of the people buying. Just sell to them. You can also do cash by mail. Just make sure to check reviews

Official /biz/ discord and PnD group, no pajeets or larpers, also please have at least .2 BTC

https://discord.gg/R4aFQp


https://discord.gg/R4aFQp

https://discord.gg/R4aFQp


https://discord.gg/R4aFQp

>>4590548
>screen cap
>delete cache cookies
>print or write down the steps
enjoy

>>4589301
The smart way to do it tbqh senpai