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/biz/ - Business & Finance

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4602068 No.4602068 [Reply] [Original]

Is there a limit to how much you can cash out?

>> No.4602073

>>4602068
Yeah, it's 0 dollars.

>> No.4602097
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4602097

>>4602073
wtffff

>> No.4602098

you hold until the fiat economy collapses and bitcoin becomes the new global currency

>> No.4602122

Welp... looks like we've arrived at this point again. Where another poor soul finally realizes that crypto is a scam because you can't cash out.

You LITERALLY can't fucking cash out. Seriously, try it. You wasted all your money on internet bucks. There is no way to convert it back to fiat. All those "exchanges" that claim to deposit your money into your bank? Those are scams, the deposit never goes through. All those people saying it isn't a scam? They're shills for the scam "exchanges."

Anyone who tries to refute this post is a scammer shilling for scammy exchanges.

>> No.4602144

>>4602098
can you imagine?
>i'd like to buy a pack of gum
>sure that will be 125 satoshi
>and 4000 satoshi transaction fee
>you can pick it up tomorrow

>> No.4602164
File: 12 KB, 225x224, 1499741395807.jpg [View same] [iqdb] [saucenao] [google]
4602164

>>4602144
this is why I thought digibyte would be a huge success, never seen faster transaction times

apparently not

>> No.4602189

>he thinks you can cash out

Also,
>samefagging on a board with IDs
>>4602068
>>4602073
>>4602097
>>4602122

>> No.4602215

>>4602068
Yes, 0.

>> No.4602263

I don’t get this meme
Isn’t Coinbase legit and if they scammed you you could sue them?

>> No.4602627

I don't think a market gets to 300+ billion dollars without someone actually noticing and reporting you can't cash out.

This is an unfunny meme. It isn't ironically funny. It's not satirical. It's not even anti-humour, it's just...boring.

>> No.4602689

>>4602068
>>4602073
>>4602097
>>4602122
nigga wtf are you doing

>> No.4602734

>>4602627
I think it’s pretty funny. It’s a nice jab at our paranoia and love of schadenfreude whenever a coin tanks like DGB or Confido.

>> No.4602748

>>4602068

I went in hard to ETH last year and made over $700k. Not only was paying the taxes a complete clusterfuckx but the moment I filed and sent the checks I got hit with an IRS audit. Then three visits and counting from FBI guys.

Yes, I used a professional CPA. I'm now paying lawyer fees out the yinyang and the FBI is combing through every nook and cranny of my life. They think anything related to crypto is drug money or laundering.

God help you if you're trying to cash out six figure gains. You can't even enjoy them without fearing pound me in the ass prison.

It isn't even worth it if you aren't cashing out at least $100k. Crypto is automatically criminal in the eyes of the Feds and you will spend that much in lawyer fees on top or your taxes just to walk away free.

>> No.4602859

>>4602748
You fucking spastic, cash out offshore. You don't send crypto gains of that amount to a fucking domestic checking account, fuck me biz is full of tards.

>> No.4602913

>>4602859
Why the fuck not, i totally intend to cash out hundreds of thousands one day

>> No.4602938

>>4602913
First becuase you don't want to pay high taxes
Second, because you don't want to deal with what happened to >>4602748 which is more common than you think.

If you intend to cash "hundreds of thousands" out, you can drop a few k on paying an agent to incorporate you offshore. Some will require your presence when opening bank accounts, some won't, either way, you can spend the few k's for a piece of mind.

>> No.4602974

>>4602859
What do you recommend? If I send my cash from Coinbase to a foreign bank, will they cuck me? Will the feds find out?

>> No.4603138

>>4602974
If you want to get smart, you could open shell companies and form trusts which would make the money 100% untouchable.

You could Exchange -> shell companies -> trust
or
exchange -> shell companies -> offshore bank

or if you wanna be a fag, just do

exchange -> offshore bank -> then slowly deposit into brokers, but stock etc then cash out to your US bank making it "clean" but you'd still pay tax

>> No.4603209

If I'm a poorfag cashing out a few hundred to a couple thousand in gains I don't have to worry about the feds.