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/biz/ - Business & Finance

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2287332 No.2287332 [Reply] [Original]

>all of these guys want to get rich
Be careful what you wish for.

>> No.2287346
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2287346

i want to get rich but my 14 BTC will just not cut it no matter how long I would hold

>> No.2287395

Is anyone else kind of afraid of their returns?

I started 2 months ago and doing taxes for this always seems intimidating. It's like a looming spectre.

>> No.2287431

>>2287346
you do realize, that you own 1 / 2.000.000 of all bitcoin. Imagine having the same stake in fiat

>> No.2287468

>>2287395
Remember that you have to pay taxes even on gains that you didn't cash out. That means if you cashed out 10% of your total profit, you're going to have to pay a shitton of your own wageslave money to compensate for your crypto gains.

>> No.2287481

>>2287395
As long as you are making more money than you are spending on memecoins you should be ok.

>> No.2287492
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2287492

>>2287468
No.

>> No.2287495

>>2287468
im not cashing more out than i put in, (((they))) wont get anything

>> No.2287529

>>2287495
Sorry mister IRS, sir. I spend all the profit I should have gotten on Bitbean and now it's gone :^)

>> No.2287539

>>2287346

You'll probably be a millionaire in retirement age.

Just keep it.

>> No.2287564

>>2287492
>pic
Didn't realize you were European, my mistake.

>> No.2287569

>>2287529
tehee i lost my bitcoins

how will they prove it? I already mixed my coins

>> No.2287591

>>2287468
can you report your total taxes as losses, cause that makes no fucking sense niggas. how can you owe money on something you may not even be able to sell to pay the tax.

>> No.2287606

>>2287468
Nice cope nocoiner. Its literally untraceable. Just use a bit of imagination

>> No.2287631

>>2287591
That's how it works. Ever heard of those game shows where the winner gets a "free" sports car at the end, but can't keep it because of the taxes on the gift? Similar concept.
>>2287606
That's your risk to take.

>> No.2287733

how to avoid taxe ? i don't want to pay

>> No.2287775

>>2287431
on paper it sounds great but even 1 in 100000 might not make you a multimillionaire

>> No.2287778

>>2287564
I'm in the US. Capital gains is only for the portion you sold.

>> No.2287786

>>2287733
>put money in some exchange
>buy monero
>send monero to another exchange
>transform to bitcoin
>send bitcoin back to a new address

>> No.2287791
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2287791

>>2287431

>> No.2287797

>>2287778
Nope, the IRS has said that gains in exchanging crypto are taxable as well.

>> No.2287813

>>2287468
just to note that for those in the UK this does not seem to apply (or at least it didn't last time HMRC took a look at crypto). capital gains paid upon conversion to fiat

>> No.2287819

>>2287813
Yeah, America is the only country in the world where this is a problem.

>> No.2287837

>>2287819
It's not even a problem. You're pulling shit out of your ass.

You just have to pay taxes on anything you cash out (capital gains)

>> No.2287854

>>2287468

lmao what is wrong with you? Why are you trying to scare people? You only spend taxes on gains when they're realized, otherwise long term and short term gains wouldn't even be a thing.

>> No.2287865

>>2287786
how to cash out ? im from France if that matter

>> No.2288640

>>2287332
They still have no idea.