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29407222 No.29407222 [Reply] [Original]

>cash out
>have to pay 30% in taxes

>> No.29408362

at least not 42% lmao, germans, am i right?

>> No.29408437

>>29407222
>work hard
>get a good job
>pay 35% taxes

>poorfag idiot lazy shit pays 12%

>> No.29408458
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29408458

>>29407222
belgian 55 gang

>> No.29408525

>>29407222
Sucks biz bro. I’m sitting on a pile of cash profits that I have to save for NEXT YEAR’S TAXES instead of reinvesting.

>> No.29408610

>>29408525
Create a second wallet and put them in safe yield farms for 10% ROI dumbfuck

>> No.29408654

>>29408362
>let it sit for a year
>cash out tax free
wow

>> No.29408691

>>29407222
> don't pay tax
> save yourself 30%

Easy

>> No.29408722
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29408722

>>29408437
>>29408458
>belgian 55 gang
pls kill me

>> No.29408761

>>29407222
I know a guy that cashes out online. He gets packages of cash money sent to his door step

>> No.29408773
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29408773

>live in socialist hellhole
>53% crypto tax
>cash out and dont report it
>been 4 years and never got caught

just dont be a retard and transfer enormous amounts

just play the dumb card if they found out

>> No.29408804

>>29408458
How is this not theft?

>> No.29408819

>>29408654
you still have to pay for any other trade, even crypto to crypto that you didnt hold for at least a year. its not like you can just put all your money in stables after day trading and swinging and magically leave tax free.

>> No.29408830

>>29407222
why would you pay taxes? just hold and use crypto for buying stuff

>> No.29408903
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29408903

Thank God I live in Portugal.

>> No.29408914

>>29408610
Explain please. If you’re telling me to buy crypto with that cash and stake it somewhere then I would tell you that I’m going to get taxed again once I sell and I’ll also get taxed on any interest gained.

>> No.29408965

>>29408654
After a year 99% of coins are dead. Are you retarded or something?

>> No.29408970

>>29407222
>kyc onramp --> monero --> gains --> cash out in amazon gift cards or localbtc/localmonero
fuck niggers and fuck taxes

>> No.29409060

>>29408970
kys onramp -> monero -> gains -> buy gold with crypto -> sell gold at coin shops when you need spending money

>> No.29409081

>>29408965
just pick the right coin then

>> No.29409124

>48.65% marginal tax rate in California
I really should have moved back home to Singapore last year.

>> No.29409150

>>29408819
>trading
ngmi
>>29408965
I put 1k into BTC every month. Have been doing so for the past 3.5 years. Once we get to 100k I'll cash out, but real estate and live off the rent.

>> No.29409295

>>29408970
there's a huge margin for something like that isn't there? at least localbitcoin is trash, seems like full of scammers and shit rates

>> No.29409341

>>29408830
Buying anything with crypto is a taxabe event, same as cashing out.

>> No.29409383

>>29407222
This is why you focus on bitcoin, because there is no need to sell it, unlike alts where you need to time the market perfectly. Just stay in bitcoin and eventually you can just take a loan out against it, or loan it out through something like blockfi and live off the interest.
If you have 1 bitcoin and can pull 6% yield off it that alone gives you a modest retirement at 1 million per coin. Now do that math for 5 or 10 million per coin

>> No.29409415

>>29409341
that depends on country, and the whole point here is to NOT pay taxes like an idiot

>> No.29409489

>>29408903
hi fren, you from there? i'm in the north of europe and want to come and get residency there before eoy. way i get it is they basically don't control your trades/activity at all whatsoever as it's just seen as currency exchange and so you don't even need to report crypto gains at all, is this correct? also, is this likely to change anytime soon?

>> No.29409542

>>29409383
that doesn't help anything, you'd still have to pay tax on those yields. and with bitcoin you can forget those moonshots that you'd get with the right low mcap altcoin

>> No.29409550
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29409550

>>29407222
>Cashing out

>> No.29409657

>>29409150
Real estate will trend to zero in bitcoin terms... You are better off never selling your bitcoin and eventually living off the interest on it. You have zero maintenance costs, don't have to deal with shitty tenets, renovations to keep it updated, etc. Bitcoin is digital real estate in the new financial system

The only reason real estate even goes up is because it is priced in shitty money. Homes are way more efficiently and cheaply built than ever, in a sound money economy they would actually do down in value over time since their production is more efficient over time

>> No.29409772

>>29408970
>Buy gold for 1900
>Sell gold to buyer for 1600
>20% fee and you could still go to jail

>> No.29409859

>>29409383
theres been many alts that have done better than bitcoin over a one year period just DYOR why wont ypu do it guys
its simple
just DYOR stoopid

>> No.29409954

>>29409542
of course out helps. Although you're paying taxes, you're at least gaining more bitcoin in the process. Doing a straight cash-out instead creates a taxable event plus DECREASES your bitcoin balance

>> No.29409963

>>29407222
Hello fellow german

>> No.29410013

>>29409542
If bitcoin stabilizes over time at high prices you don't even need yield, you can just take a loan against it for your living expenses and as the price of sound money appreciates you just refinance it. You never pay tax. This is what Saylor talks about all the time, this is what people have been doing with real estate in Manhattan for ever. You just refinance over and over and never pay tax

If you don't like that risk profile then just live off the yield and pay the taxes on the yield, but trying to time an altcoin and paying a massive tax bill all at once and then having no bitcoin is a bad idea. Everyone in history that has ever sold it regrets it...

>> No.29410122

>>29409859
The whole point is not to worry about that shit and just constantly buy bitcoin and never ever sell it. Its so fucking easy but everyone overthinks it

>> No.29410281

Pay taxes on money you make from work before you even see it. Invest that money and pay taxes again on it when you cash out. Then pay taxes again when you spend it.

Fuck this gay country. I'd rather just have an insane sales tax instead of all these little taxes nickel and diming you. I thought we had unlimited money at the federal level why do we need to pay so many taxes

>> No.29410769

Simple, until you have high 7 or into 8 figures then don't cash out.
When you are at that level it is worth moving country to a low or zero tax rate country for the minimum time required.
Not at that level? Keep investing until you are, if you are desperate for money cash just 1k or 2k out, more likely to go under the radar.

>> No.29410925

europoors, whenever i ask my europoor friends about their outrageous taxes, they always insist that their taxes aren't high.
is this just cope?

>> No.29411152

>>29410925
cope confirmed

>> No.29411629

>>29411152
i will ask them how they deal with 40-50 percent taxes and almost every single time they say it isn't that high, despite me looking at their tax brackets
danish people are the biggest offender for this in my experience

>> No.29411810

>>29410122
thats not what i said i said dyor and pick an alt.
If you would have bought bitcoin on february of 2020 you woukd have 5x if you would have bought fantom you would have 43x + staking.
DYOR faggot.

>> No.29411929

>>29407222
>cyprus
>0 tax on crypto
kek

>> No.29411991

>>29411629
>American
>30% income tax
>Still have to pay for healthcare
>Still have to pay for college
>Worse infrastructure than every western european country

I would rather pay 10-20% more tax and not live in a shithole where my tax dollars are just cast into a black hole

>> No.29412146

>>29410925
it's cope or they are soi people who think taxes actually go to fix roads and shit

>> No.29412481

>>29409060
>kys onramp
Checked

>> No.29412980

>>29410281
yeah this is legalized theft. and so much for "muh decentralization", as long as crypto is taxable, it's a fucking joke

>> No.29413474

>>29411991
This, nobody enjoys paying 40% taxes, but paying 40% and getting healthcare and college for 10% more in taxes is obviously a good tradeoff.

>> No.29413559

>>29408804
We Europeans actually have decent healthcare and infrastructure. Also, we don't use taxes to bomb brown kids.

>> No.29413712

>>29413559
yep, although 55 is still theft. i'd just not report anything, fuck that

>> No.29413809

>>29407222
So don't, until you can afford an offshore bank account and retire on a yacht.

>> No.29413832

>>29409657
real estate is big meme, especially in the west where the government can house 100 niggers next to your place and tank the value, plus myriad of other problems

>> No.29414006

>>29409150
1k every month for 3.5 years should be way more than 100k...

>> No.29414139

>>29408965
STABLE COIN YOU APE

>> No.29414869

>>29414006
He is saying when it hits 100k/bitcoin anon

>> No.29415013
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29415013

>>29409489
Why the fuck isn’t it like this in the US? This is how it should be. Burgers rise up WHEN????

>> No.29415132

>>29414869
ah.

>> No.29415473

or you put all of your crypto into nexo and take loans so you dont have to pay any taxes

>> No.29415730

>>29407222
what's a good site for this?
Everything Ive seen they mark up the rates like crazy

>> No.29415736

>>29415473
>Crypto tanks in bear market
>Gets liquidated
>Fucked

Can someone explain why taking a loan at these places are worth it? Seems risky

>> No.29416418

>>29408773
Denmark? If so, how much did you end up cashing out?

>> No.29416762

>>29409657
>land value
Stfu zoomer you don't know shit

>> No.29417236

>>29409489
That is correct fren, they only tax profits from stock's, no crypto tax. And no, there is no legislation planned to cover it anytime soon.

>> No.29417256
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29417256

>>29408362
you have to set up a business and reinvest a part of business profits in crypto before taxes. If you lose crypto you have something to offset your business gains if you gain you put 25% as tax back and reinvest the rest of the gains either in crypto or in the business.
42% will be only paid if you cash the money out.
The king's gambit is to have your tax residence in paraguay, panama or vietnam then you'll be even better off as German than a US citizen because the IRS is much more overreaching than any other tax agency in the world.
However other EU countries like Netherlands or Malta are also pretty investor friendly

>> No.29417396

>>29410925
They're not high if you're a poorfag

>> No.29417573

>>29411991
>black hole
Honestly I wouldn't mind paying high taxes if my home country was free of jews and niggers and preferably 90% white. Knowing that I put in the risk so that some shitskin can collect his welfare kills all the motivation

>> No.29417596

>>29407222
IRS can't tax you if you move your crypto gains into new crypto.
I'm liking how USDC is looking

>> No.29417894

>>29413559
Cringe

>> No.29418054

>>29408610
You forgot to mention that you have to then take out crypto loan and then pay no tax.

>> No.29418145

>>29408458
holy kek lmao

>> No.29418219

>>29407222
u probably have a way around
https://elly.com/en
https://www.moro.si/morobitcoin/

>> No.29418279

>>29410925
They get actual benefits from their taxes so it probably seems like more of a transaction than the theft that occurs in the US

>> No.29418354

>>29410925
Yes.

>> No.29418365

>>29409295
Stupid fud, go pay 40% of your profit to niggers then idiotic

>> No.29418389

>>29407222
You gotta risk it to get the biscuit

>> No.29418445

>>29407222
>Earn free money for a little research and shitposting on 4chan
>profit from infrastructure, science, social security, waste management, public transport
>complain

>> No.29418448

>>29407222
I have bad news for you if you're American. It's closer to 40%

>> No.29418517

>>29408458
Only if you're a professional trader.

Tax on added value (which includes crypto gains) is 33% in Belgium.

>> No.29419196

What's stopping you transferring all earnings from alts etc to bitcoin wallet then wallet to exchange and cashing out as if all you ever had was a "found" bitcoin wallet.

>> No.29419208

>more than 50% taxation on crypto
you had a 100x and now you are a millionaire? no you made 50x or you go to jail. the way I see it there are two options to not get raped:
a) hodling till 2051 when all financial institutions bow down before bogdanoffs, dollar is renounced, new decentralized world economy is established under monero.
b) singapore

>> No.29419209

>>29418219
Does Elly work without KYC?

>> No.29419275

>>29419196
This is how monero cash outs work also

>> No.29419324

>>29407222
>30%
based

>> No.29419417

>>29408525

Burger? If so, you need to pay quarterly or else there's a penalty

>> No.29419466

>>29419196
>I just found the wallet on street officer
>"oh, okay then you don't need to pay tax. off you go."

>> No.29419662

>>29419196

Burger accountant here, that's worse because "a found wallet" would count as ordinary income not cap gains, so taxed at a higher rate.

>> No.29419799

You guys are paying the exact same rate any wagie would have to. Don't like it? Choose a different government.

>> No.29419871

>>29407222
>30% in taxes
mate, just earn 30% more crypto to pay for it
should be easy enough on 2 or so pumps. next pump planned for saturday - discord gg/SNqPpk5Pjw
we hit some low marketcap coin, pump it, organised shill, sell. It happens all the time here - everyone shilling their shit they bought, why not try an organised version of it

>> No.29419966

>>29419799
or....

You can be like our politicians. Set up a charitable foundation. Donate enough to the foundation to offset any tax liability. Then transfer all your living expenses to the foundation. Clinton, McCain did this, probably many more.

Clinton had her foundation as the owner of her homes, paid her a salary and many more expenses I am sure.

>> No.29420069

So if you had 100k and in a country that taxes crypto to crypto exchanges and the tax is 20% and say you transfered between coins 5 times you'd then owe the full amount as tax?

>> No.29420146

>>29420069
No, only the gains. The original cost of the coins, commissions, and fees would be deducted from the total. Only the profit will be taxed.

>> No.29420157

>>29419966
whole entire country is a scam

>> No.29420337

>>29420146
So basically it will work out as what you put in originally at the start minus the profit at the end thats taxed then?

>> No.29420342

>>29420157
At this point it is 'Follow the Leader'. Everyone will just become as corrupt as those at the top. The honest will be ruined and exploited.

>> No.29420392

>>29408458
wow. i actually don't feel that bad about being a burger anymore.

>> No.29420463

>>29420337
Minuses any losses you generated. Those can be subtracted from the gains.

>> No.29420484

>>29419966
Cool lies bro. Biden won, btw.

>> No.29420534

>>29408903
I heard they're planning to change this, is it true?

>> No.29420613

I don’t understand this tax meme
Trade on an overseas platform, use several vpns if you have to, withdraw the money to a foreign bank account where your politicians don’t pay tribute to Israel
Seriously it’s not hard
Then when you wanna buy stuff in your gay country just use a foreign debit card, get stuff gifted to you by a foreign corporation you created etc