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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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54026762 No.54026762 [Reply] [Original]

try swapping to USD on coinbase and it didn't go through like normal... they sent me this email instead

...we got too cocky

>> No.54026781

who use USD in 2023?

EUR Chad here btw

>> No.54026861
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54026861

This retard still keeps his money on Coinbase in 2023 after Gemini, FTX, SVIB, etc. Nigga what the fuck are you doing?

>> No.54026887

>>54026861
Not just keeping money on coinbase... keeping STABLECOINS.

Talk about failing 2 IQ tests at once.

>> No.54027198

>>54026861
>>54026887

I literally just deposited this money today for my regularly scheduled slurps

>> No.54027239

>>54026762
congrats, you just created a 20% capital gains tax applicable transaction that CB will 100% report directly to the IRS with an SAR report. you played yourself.

>> No.54027336

>>54027239
He made 20% profit off USDC? How??

>> No.54027423
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54027423

>>54027239
>paying 20% tax on $2.65 gain

>> No.54027472

>>54027336
>>54027423
i'm assuming he is cashing out crypto gains, not his lunch money from two weeks ago

>> No.54027474

>>54026861
hey weeb, i have all of my holding in cold storage except its all usdc, am i going to make it?

>> No.54027563

>>54027472
Huh? But swapping the original crypto to USDC wouldve already counted as that taxable event for that?

>> No.54027596

>>54027563
but it doesnt get reported until it converts into USD

>> No.54027809

He has to actually make a profit on the transaction you absolute dolt. This would only affect him if he’s never filed a tax return ever. If anything he can deduct gains from this event because he probably lost 50 dollars on the transaction.

>> No.54027910

>>54027596
Wrong. Well, maybe if you lie to IRS.

>> No.54029261

>>54027809
USDC/USD swaps are free on coinbase

...or, well, they were until coinbase disabled them

>> No.54029435

>>54026762
Do you see the part that says "You sold"? That means your USDC was converted to USD. You now own USD.

>> No.54029804

>>54029435
luckily it did go through, but it took a few minutes AFTER I received that email

>> No.54029879

>>54026861
coinbase holds 1m bitcoins in reserves, if they go down the whole market is done

>> No.54029928

The reason this is happening is because of the Ukraine war

>> No.54029956

>>54029928
Aka Biden’s war in Ukraine. He is the one funding the whole thing.

>> No.54029976

>>54029879
thats why i just took the opportunity to cash out all of my bitcoin on coinbase and pay the fee to instant transfer to my bank before people start to panic and head for an exit. these things take some time to set in...