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/biz/ - Business & Finance

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30404290 No.30404290 [Reply] [Original]

>Held crypto for years
>Never cashed out
>Realise I made a lot of money and if I try to cash out too much at once the government is gonna look my way
>Figure out I should start cashing out slowly, so as to not draw any suspicion
>Check the local exchanges (im not american) to see how this would work
>They have a cashing out limit
>Its less than 15k a month
>Do the math and realise that even if I cash out the monthly limit it would still take me more than a decade to cash out everything
>If the market goes down, Im fucked, lost the window of opportunity
>if the market goes up, it's gonna take even longer to cash out
>MFW I realise the "can't cash out" meme is real, just in a monkey-paw-wish kind of way.

>> No.30404336

>>30404290
Why not launder it by trying to buy things with BTC/other crypto? Just wondering what would stop you from doing that?

>> No.30404511

>>30404336
There is no BTC market for actual things yet, it's still too volatile.

>> No.30404540

>>30404290
Buy and sell nfts, some places like nba topshots can trade sell and deposit fiat into your account, although ive heard it can take awhile before you get your money, like half a month or so

>> No.30404552

>>30404336
Consooooooooomeeeeeeer
What the fuck? How does buying shit help in any kind of substantial way?

>> No.30404603

>>30404290
based and exchangerugpull-pilled

>> No.30404654

>buy gold and silver with crypto
>sell for cash
It’s that simple

>> No.30404655

>>30404290
>What are stablecoins?

>> No.30404665

>>30404552
If he can buy gold and silver with bitcoin (which is possible on some sites even in america) then he can effectively cash out a lot more than 15k per month

>> No.30404711

>>30404511
What are you talking about? There's lots of websites where you can buy physical things with crypto

>> No.30404737

>>30404552
by selling said shit afterwards? are you retarded?

>> No.30404752

>>30404290
Send some to blockfi to get a usd backed loan and instead of repaying the loan just have them liquidate the collateral

>> No.30404768

Why not just convert to fiat then cash out?

>> No.30404870

>>30404511
>badly drawn pixel art worth 2 million dollars in fiat appears out of nowhere

>> No.30404919

>>30404290
You can literaly turn it into USDC, ride out the crash, and become ultra rich in the next post bear market

>> No.30404941

Buy gold bars with crypto. It’s literally how you do it.

>> No.30405054

>>30404290
use a stablecoin you dumb fucking faggot. also you can get in touch with your exchange and your bank to cash out a large amount, but yes that will put you on the government's list

>> No.30405135

>>30404290
>>30404290
>>30404511
Just buy gold with your btc at slivergoldbull

>> No.30405160

>>30404737
Well he’s calling someone a consumer xd while on /biz/ so yes he’s retarded

>> No.30405186

>>30404290
Buy my art, your money laundered ;)

>> No.30405219

Just pay taxes bro

>> No.30405225

>>30405135
What good is a paperweight gonna do me

>> No.30405241

>>30404919
Why usdc and not usdc

>> No.30405279

>>30404290
Convert it all into Tether and Dai and some other stable coin on BSC. Then you don’t lose the window where they’re priced high and you can take as long as you need to withdraw.

>> No.30405300 [DELETED] 

fellas wassup. how much is the yearly rofit from rewards issued by the trust? at least about

>> No.30405319

there's no cash out limit on bitfinex.

also don't cash out slowly to avoid taxes. that is called structuring, and it's very obvious and will get you in a lot of trouble.

>> No.30405364

>>30405225
That paper weight is more valuable than your shitcoin stack faggot
>>30405135
>silvergoldbull
Fuck off reddit

>> No.30405378

Hire a crypto accountant and explain your situation. Stop being retarded.

>> No.30405472

Do you have IRL frens? Could they help you get it out through their wallets?

>> No.30405476

cashed out about $3m in Poland with no problems

>> No.30405490

>>30404290
You could just convert it all to a stable coin and have it accrue interest and cash out the interest and if you want to make a big purchase just save the cashed out interest instead of buying lots of stuff.

>> No.30405531

>>30404752
Bingo

>> No.30405579

>>30405241
Usdt*

>> No.30405687

Convert to stablecoins retard

>> No.30405727

>>30404655
he is glowing

>> No.30405777

>>30405579
Tether is a scam, it might go to zero

>> No.30405979

>>30405225
The same good as a collection of 1's and 0's is gonna do retard

>> No.30406044

Find an American you can trust to withdraw it and send it back (or come live in America). Even a shit broker like Robinhood let's you withdraw 50k a day.

>> No.30406145

>>30404290
Move country and trade OTC/cash out in a no-capital gains country.
Stay there for a year + whatever clawback period your place has.
Move home
Have millions

Of course this is irrelevant as it's a larp

>> No.30406247

>>30405135
you know that you don’t buy anything with bitcoin, right? You sell the crypto for fiat at the time of the transaction, and selling crypto for fiat is a taxable transaction.

>> No.30406259

Obvious larp gets dozens of actual responses from newfags and poorfags of course

>> No.30406363

>>30404290
There is no way to cash out. IRS u win. I didn't lose my seed phrase in the cayman islands.

>> No.30406397

>>30405777
how do i short tether?

>> No.30406718

>>30405579
teather not realy backed. DYOR and find stable coins tied to the dollar that are audited (hit busd is also one)... if you intend to hold significant amounts of fiat proxy cash. Split your crypto between whatever fiats you find you trust after research. Also consider PAXG

>> No.30406866

>>30404290
Protect your funds by hedging BTC dominance with xBTC. It's not hard. Keep your funds in crypto.

In 10 years time the whole concept of "cashing out" will be redundant or a non-sequitur anyway.

>> No.30406891

>>30404752
Does this fuck your credit score?

>> No.30407045

>>30404290
You're going to fuck yourself. Thousands of people go to jail every year for structuring and money laundering, things that are being suggested in this thread. The banking system will rat you out and you almost certainly will go to prison.

If you cash out (which I wouldnt recommend), just cash it out and pay your 30% in state and federal capital gains. Then all the money is legit, you can't go to prison for it. You're going to lose more than 30% fucking around with all this mickey mouse shit trying to evade taxes.

>> No.30407227

>>30407045
>Thousands of people go to jail every year for structuring and money laundering
That’s with fiat not crypto though

>> No.30407443
File: 1.93 MB, 336x420, 1586575214085.webm [View same] [iqdb] [saucenao] [google]
30407443

>>30404290
Buy real estate in South America anon and call it. Check out.
Developers in Costa Rica and Nicaragua will happily accept crypto for developments on the beach.

>> No.30407534

>>30407227
Good luck convincing the judge that bitcoin withdrawals aren't "financial transactions"
>Structuring, also known as smurfing in banking jargon, is the practice of executing financial transactions such as making bank deposits in a specific pattern, calculated to avoid triggering financial institutions to file reports required by law, such as the United States' Bank Secrecy Act (BSA) and Internal Revenue Code section 6050I

>> No.30407687

>>30406397
Borrow it on AAVE and exchange for USDC.

>> No.30407756

>>30404290
what the fuck just swap to tether and cash out 15k a month

>> No.30407766

>>30407534
stfu stupid dumbass burger he said he doesn't live in the US fuck off nigger welfare kike pusher eat my shit while I push my BTC through a mixer and sell Monero to local drug lords and send the funds to an offshore swiss bank account, nigger

>> No.30407798

>>30407443
That video oh my xD
I always thought going near volcanos was retarded

>> No.30407842

>>30407443
Kek - me and the boys do this all the time. After the money is in the bank we just bury the fucks in the backyard and put the property up for sale again.

>> No.30407857

>>30407766
>implying whatever shithole country he lives in doesn't have laws against money laundering, structuring, and tax fraud.
Keep dreaming faggot, have fun in prison.

>> No.30407861

>>30407045
best advice in the thread^. don't be a faggot, pay your taxes, take your 7 figure made it stack of actual money out of the faggot fake money, and move on.

>> No.30408075

>>30407842
in minecraft of course

>> No.30408139

>>30404654
This right here

>> No.30408170

>>30407045
>If you cash out (which I wouldnt recommend), just cash it out and pay your 30% in state and federal capital gains. Then all the money is legit, you can't go to prison for it.
The game can be different in countries outside the US. First, the tax rate might be 50%, 66%, or something ridiculous. Second, most other developed countries aren’t so quick to jail people for tax evasion. Usually they just pay a fine.

>> No.30408241

>>30404290
If 15k a month would take you decades just pay your fucking taxes because you don't need to work anymore
Fucking larper

>> No.30408732

>>30404290
>Less than 15k a month

You're using bitso, aren't you?

>> No.30409119

>>30404290
>crypto is not a scam anon

>> No.30409310

>>30405476
based

>> No.30409329

>>30407443
wtf is she ok

>> No.30409371

>>30404290
>>if the market goes up, it's gonna take even longer to cash out
this really isn't a problem. your first on this "set", that would be a problem.

>> No.30409457

>>30407766
>I push my BTC through a mixer and sell Monero
that's a good way to never being able to enjoy your money freely

>> No.30409885

>>30406247
You can actually buy gold and silver with Bitcoin retard.

>> No.30410040

>>30404290
You can sign up for more than one exchange. You can buy gold online with BTC.

>> No.30410098

>>30409329
It's clearly water which was edited to look like lava. It moves like water and there's editing artifacts everywhere.

>> No.30410504

>>30404336
Ah yes, just like all those white BMW's in front of shisha shops that's inhabited by people without a place of work. Not suspicious at all.

>> No.30410582

>>30404290
pay your taxes anon

>> No.30410962

>>30404290
>cashing out limit
>less than 15k a month
>more than a decade to cash out
So rounding up you have about 2 mil USD in crypto. Does it make that much of a difference if you lose 30% of it as tax? You could just as well lose more in value due to crypto volatility. IMO it's not too terrible price to pay for peace of mind of having fiat and being able to diversify freely.

>> No.30411381

>>30404290
I suggest finding one of those bitcoin atms that supposedly exist and taking a trip to one everyday. When it runs out, travel to another one. Think of it as a fun road trip where you make money. If you cash out now, you'll probably be o.k.

>> No.30411406

>>30405054
LMAO. So hold in a stablecoin while I take decades to cash out? Not a solution

Trust my exchange to let me cash out more? Wow, not a comforting solution.

This is looking like a serious problem

>> No.30412696
File: 36 KB, 680x526, 1614529342906.jpg [View same] [iqdb] [saucenao] [google]
30412696

ultimate exchange rugpull incoming