/biz/ - Business & Finance

>>52410770
>https://etherscan.io/tx/0x7c4dec2e958c87c69e2736d6ceb63a51372b7c695abc59afa006f38f7ba2c7ba

>>52410770
LOL. CB cant cash that out, AHAHAHAHHAHAHAHAHAHA

>>52410770
LFG

See? Everything's fine. They have the funds.

>$211,000,000
So are they just doing bank runs for fun now? Because if so, based.

Nothingburger

>>52410847
more like $211,000

Sorry my Thai lil gf dad needs an extra few million to let me take her back to SF i just put all of it into gas

im sure coinbase will mail them a check for $200,000,000 USD after they sell and withdraw

How would YOU withdraw this money?

>>52410884
>>52410847
>>52410785
Coinbase has billions sitting in cash lmao. They would love someone to market dump that much ETH so they could scoop it up at firesale pricing.

>>52410931
>coinbase has billions in USD
yea im sure. more like .05% of those billions are in actual cash, LOL

>>52410910
you cant. thats the joke. only exchanges and maybe paypal are the ONLY places where you can sell crypto for USD directly.

you are at their mercy

Priced in.

>>52410974
You don't think a competing foreign power would off ramp them?
Caroline is already in Hong Kong, who's their neighbor?

>>52411042
lol. you really think somebody would give $212 million USD CASH MONEY for "cryptocurrency"

KEK. you are at the mercy of exchanges - nobody else will convert crypto into money

it's over
OVER
RUN FOR YOUR LIVES

Why exactly is transferring TO Coinbase... bad for Coinbase?

>>52411080
Just exchange it in small quantities over time.

>>52411526
it's not coinbase that has a problem

>>52411550
pretty much. but even then you are at the mercy of coinbase

Invest in Proton now. Soon all major exchanges will die.

>>52411526
it's not bad for coinbase
it's bad for YOU

>>52410931
Why would they scoop up worthless collectible tokens? The whole point of this scam is that retail trades the tokens while exchanges make money on commisions.

>>52410974
Ok can someone explain to me how you would actually withdraw money from an exchange if you ended up making it. Like say you ended up with a figure of 1 million or higher. You wouldn’t be able to just withdraw all that at once into your bank account right? Like surely the exchange wouldn’t be ok with that much leaving at once. But if you did it bit by bit at a time you’d get fucked over by tax more right? Am I understanding this or am I retarded. What’s the best way to move massive gains into your bank account ?

>>52410931
Anon doesn’t understand how an exchange works

>>52410931
More likely they have to liquidate some of their own crypto to cash them out. That will dump the markets more. Some other whale will decide it's time to exit. This is how dominoes fall.

You're really dumb if you think these are firesale prices. The second shoe is only just starting to drop. Monday will be a fucking bloodbath.

>>52411872
>But if you did it bit by bit at a time you’d get fucked over by tax more right?

Depends on how you did it and the laws of your country of residence. A lot of countries have a fixed resident income tax that you pay, and it doesn't matter if you do it once on a mil or ten times on 100k, a percent is a percent. There are definitely cex withdrawal fees, but they are also usually percents.

>>52411872
I pulled out $1.4mil from Kraken when Doge hit ATH. Took like 5 days but it showed up in my bank account no problem.

>>52411872
Making ten $100k withdrawals in a year is the same as one $1000k withdrawal as far as taxes go. But you could cash out a million on Coinbase.

>>52411526
Well presumably the only reason it would go to coinbase is because they want actual real dollars and not fake tethers

>>52411872
When I pulled out 180k it got rejected by my bank; I had to head to my local branch and speak to the branch manager. Then on my second attempt it worked

>>52410931
This is cope. The smart money is getting the fuck out.

>>52412027
Ok so I ended up looking up my countries stance on crypto tax and this is the example they’ve given.

“Craig, an individual investor, bought 1 ETH in January for $1,000 plus a fee of $100. In May of the same year he sold his 1 ETH for $2,000 at plus a fee of $100. His cost basis is thus $1,100.

His capital gain is the new value of $2,000 less the cost base of $1,100, and the new fee of $100 to arrive at a sales proceed of $800. Craig's $800 gain will be taxed according to his Income Tax rate as Capital Gains Tax. If he waited to sell after a year had passed Craig could have halved his tax liability - he'd pay only 50% of $800 thanks to the long-term Capital Gains Tax discount.“

>>52410770
>I care

>>52412232
Coinbase does probably have a couple billion in very liquid assets. Doesn’t change the fact that they aren’t immune to a bank run though