/biz/ - Business & Finance

[Anonymous No.4664103]

SELL NOW THE FEDS ARE COMING

[Anonymous No.4664162]

Lmao is this the end of coinbase? Is the portal for noobs finally being shut down?

[Anonymous No.4664187]

oh hell yeah. my records won't be sent.

[Anonymous No.4664229]

>>4664103
95% of biz wasn't even in crypto in 2015, nor has 20k.

[Anonymous No.4664247]

>>4664103
I take bitcoins
1KDV6MKDRW1Umx19ciq6Agp5L9Q449ghgt
Live in Denmark they are too stupid to realise that cryptocurrency is a currency
so it is not taxed

[Anonymous No.4664257]

>>4664103
tfw the buy order I put in for 7k bitcoin in 2015 is now worth a quarter mil.

[Anonymous No.4664266]

>>4664103

Yeah because people transfering 100k through the largest exchange thought it would go completely unnoticed...

You can't be that rich and that retarted at the same time.

[Anonymous No.4664283]

>>4664103
link to tweet?

[Anonymous No.4664285]

>>4664229
DELET

[Anonymous No.4664295]

>>4664229
more like 95% wasnt in crypto and from remaining 5% 95% didnt had 20k

[Anonymous No.4664300]

8f they bought in 2015 it means they wuoould now be worth over 500k now? So thqts why they asked for over 20k and thqt dates...

[Anonymous No.4664320]

>>4664266

Thanks to crypto, for at least this moment in history you can be both more rich and more retarded than ever before

[Anonymous No.4664343]

>>4664103
What if you made several orders that total $20k but each are smaller than 20k?

[Anonymous No.4664362]

>>4664257
here's how to avoid big taxes without moving
use your BTC to buy Gold on JMBullion in 5oz at a time (Around $6,500) rent a new PO Box every week to receive gold - and then sell gold over Craigslist at spot (You'll sell quickly this way)
You are welcome.
Also LocalBTC if that have that in your area - only do Cash

[Anonymous No.4664363]

>>4664295
this

[Anonymous No.4664367]

>>4664257
Oh shit do they mean 20k in market value at the time or market value now?

[Anonymous No.4664370]

Wait people thought the IRS would just let them trade 6 figures and get away with it? lmao

[Anonymous No.4664371]

>>4664103
Wait, what if you bought BTC with ETH?

[Anonymous No.4664372]

am i safe i'm from india it says only us citizens

[Anonymous No.4664375]

>>4664103
I'm predicting that they'll work really hard to make a database of everyone who made it big in crypto, then try to turn normies against them
>"look at these smug nerds who became millionaires though this SCAM while you were struggling to feed your wife's son and pay off your student loans. We much sieze and regulate all cryptocurrency!"

[Anonymous No.4664385]

>>4664103
why doesn't he show the whole fucking document? what a goon.

tfw Paralegal

[Anonymous No.4664396]

>>4664367
prep your anus

[Anonymous No.4664408]

>>4664103
Could care less, I only made a few purchases for like $100 and I already amended all my tax returns to report my crypto. I have nothing to worry about.

[Anonymous No.4664409]

>>4664103
>using normiebase

You missed the whole point of crypto. Should've used a decentralized marketplace or given fake information to coinbase. You lose.

[Anonymous No.4664424]

>>4664362
Sell significant amounts of gold over craigslist? Ummm... Skeptical face.

[Anonymous No.4664444]

>>4664424
He's a brainlet. Just use localbitcoins. You can literally move 100k/week if you live in a city.

[Anonymous No.4664455]

>>4664372
Holy shit real life pajeet detected! Go back to your designated shit street pajeet

[Anonymous No.4664476]

>>4664103
>/biz/ owning 250BTC
>ever

Feels bad.

[Anonymous No.4664480]

>>4664409
Any suggestions for a good exchange to buy bitcoins?

Newbie here

[Anonymous No.4664491]

>>4664103
https://www.youtube.com/watch?v=Hh3bSzDQ1Po&t=60s

[Anonymous No.4664521]

>>4664103
This is good news. They drew a line on at what point the feel it should be looked at.

Gotta pay your local taxes, you miserly toads.

[Anonymous No.4664568]

>>4664320
This. What a timeline to live in.

[Anonymous No.4664583]

>>4664444
Does it have to be an in person cash exchange?

[Anonymous No.4664595]

>>4664521

>giving my money to the government so they can pay for Obongo, the Syrian refugee from Nigeria and his 7 kids

Yeah. No. Fuck that.

[Anonymous No.4664612]

>>4664103
so only commit to $19,999 trades now

Just do loads of them

[Anonymous No.4664624]

>>4664480
localbitcoins.com

it's like craigslist, but for bitcoin

you can purchase bitcoin for cold hard cash face to face without even revealing your first name

[Anonymous No.4664633]

>>4664455
i have a toilet you know..

[Anonymous No.4664640]

>>4664583
Yes. Be prepared to meet human garbage and know that the future of Bitcoin is them

[Anonymous No.4664645]

>>4664633
fake news

[Anonymous No.4664668]

>>4664480
bitfinex, bittrex are both very reputable
also the best to go ALL IN is just now
buy the dip you won't be sorry
nothing can go wrong

[Anonymous No.4664697]

>>4664103

[Anonymous No.4664714]

>>4664103
>Transfer all BTCt to paper wallet
>Lie and tell the feds your dog ate it.
>If they give you a hard time, just declare bankruptcy.
What did he mean by this?

[Anonymous No.4664725]

>>4664583
No, you could move far more than 100k/week if you did bank wires but banks will report that.

Face to face cash is the best as it's completely anonymous and there's no paper trail.

[Anonymous No.4664728]

Oh y-yeah guys looks like I have to turn my records over haha...

[Anonymous No.4664733]

>>4664668
>thinking this is the REAL dip

[Anonymous No.4664741]

>>4664697
>>4664103
found this on cnet
here's the link: https://www.cnet.com/news/coinbase-ordered-to-turn-over-customers-records-to-irs-bitcoin-court-tax-probe/

[Anonymous No.4664747]

Why only up till 2015?

I made some trades over 25k on coinbase this year and now I'm shitting bricks...

funny thing is, my portfolio is worth less than 20k right now

[Anonymous No.4664754]

>>4664362
Delete this now

[Anonymous No.4664756]

>>4664103

>we gotta tax your crypto so we can afford genital mutilation and/or hormone therapy for our trannies in uniform goy

uh nah

[Anonymous No.4664758]

Well I'm fucked.

[Anonymous No.4664826]

Let me sum up coinbase for you

>BIG PRICE RISE? BIG PRICE DROP?
>BOOM BUYS/SELLS BROKEN
>BOOM WEBSITE CRASH!

>CONSUMER EMAIL SUPPORT THIS IS COINBASE LET ME RESPOND WITH A PREWRITTEN EMAIL CONTAINING NOTHING RELATED TO WHAT YOU ASKED CAUSE I NEVER READ IT IN THE FIRST PLACE

>HI YES THIS IS COINBASE PHONE SUPPORT PLEASE LET ME WALK YOU INTO CIRCLES UNTIL I TELL YOU TO EMAIL US SO I CAN IGNORE YOU

>SORRY WE CAN'T CANCEL BANK BUYS ANYMORE WE FIGURED WE WOULD MAKE MORE MONEY

>THE PRICE OF BITCOIN IS $9,300 AT BITSTAMP? THAT MUST MEAN WE NEED TO SET OUR PRICE AT $9,950

>YEAH LET ME GET A SPECIALIST TO HIT YOU BACK UP IN A FEW MONTHS, THANKS

>LOOK THIS IS WHAT HAPPENS WHEN A SMALL COMPANY WHICH WE OBVIOUSLY ARE CAUSE WE ARE OWNED BY A BANK GETS 400,000 CONSUMERS IN A MONTH, OK

>YES WE WILL GET BACK TO YOU IN 3 MONTHS

[Anonymous No.4664832]

>>4664624
>>4664668

Thanks for the suggestions, although i hope i'm not being trolled or anything

It feels like 70% of the posts on this board are people trying to scam you into something

[Anonymous No.4664836]

I only made 400$ off of crypto anyway (poorfag)

Imma still pay the tax man tho

[Anonymous No.4664844]

Can't wait to see the IRS threatening to toss 14yo kids in jail for trading shitcoins, the media will have a field day, maybe this will get Trump to finally crush this corrupt organization once and for all.

[Anonymous No.4664855]

does anyone know a good anonymous exchange or just wallet? I used GDAX, for zero fees because I'm an eurofag, and bittrex and binance as wallets.

[Anonymous No.4664881]

>>4664103
>Buy monero
>"lose" monero wallet password and seed
>Declare funds as lost

[Anonymous No.4664889]

>>4664697
they're going after money laundering and people hiding cash from the IRS. they don't give a shit that you made $400 profit trading shitcoins this year.

[Anonymous No.4664908]

>>4664375
>sieze
LOL. Good luck with that.

[Anonymous No.4664930]

>>4664844
everyone is hoping that, but a 8 old year couldn't have this big of a dreams.

[Anonymous No.4664934]

Can I file transaction fees/buying as losses on my taxes?

[Anonymous No.4664975]

>>4664103
why did they leave out 2016? OwO

[Anonymous No.4665213]

>>4664975
probably because coinbase then implemented that you had to show photo of ID

[Anonymous No.4665301]

>>4665213

so I'm fucked? Sold 80 eth for 25k on coinbase earlier this year. I lost most of that money on other coins though.

[Anonymous No.4665346]

>>4664881
they'll monitor your bank account and see any deposits you recieve

once they see the money return, they'll get you

unless you want to have your money stuck in a dumb coin that can be ip tracked, and isn't used for anything but to purchase meme drugs on some darkweb site

[Anonymous No.4665427]

>>4664826
>SET OUR PRICE
>literally doesn't even know what an exchange is
those 3 words invalidates any opinion you have ever had about anything /biz/-related

[Anonymous No.4665451]

>>4665346

I deposited 4k USD into coinbase early this year. Sold some of my stack on coinbase and withdrew 16k over the course of the last few months.

That's 12k. And I only made 4k working my regular job this year. How fucked am I?

[Anonymous No.4665470]

This is big, newfags and oldfags alike were not expecting this at all.

Kinda happy I sold at 9800

[Anonymous No.4665477]

>>4665427
>literally doesn't even know coinbase inflates above the average so they make more money

[Anonymous No.4665485]

>>4665451
12k?

be happy if you can keep just 50% of that anon

[Anonymous No.4665532]

>>4665346
This, it's why criminals make their money look like it was earned legitimately, they can't just continuously deposit thousands of dollars into their bank account with no explanation of it's origin without triggering some kind of IRS investigation, at least not if they have to deposit a lot of profits.

[Anonymous No.4665533]

>>4665477
That's not how any of this works retard

[Anonymous No.4665608]

>mfw I pay my taxes like a good goy

[Anonymous No.4665618]

>>4665427
>defends coinbase
>claims to know about /biz/

[Anonymous No.4665629]

>>4665485

are you being unironic? My take for the year was 16k and I spent 4k on tuition.

[Anonymous No.4665669]

>>4665346
I sell all my coins for cash on sites like local bitcoins, local monero etc. Generally you might have to give up on a few percent for working with a reputable buyer with cash (maybe 2-6 percent depending on your volume), but that amount is much smaller than any taxes you're going to have to pay. Anyone stupid enough to keep crypto on the books if you don't intend on paying taxes deserves to. Exchanges and bank transfers are not the only options and never have been.

[Anonymous No.4665677]

>$45,000 buy order placed 00:12, 01 2016

get fucked IRS

[Anonymous No.4665678]

>>4665618
>defends coinbase
LMAOing @ ur reading comprehension
>replying twice to the same post
LMAOing @ ur lyf

[Anonymous No.4665691]

>>4665451
>he fell for the cash out meme

[Anonymous No.4665755]

>>4665669
but then you're stuck with physical cash right?

[Anonymous No.4665783]

>>4664372
like you even had 20k
lol never in your life

[Anonymous No.4665814]

>>4664103
why are they doing this? tax evaders sting?

[Anonymous No.4665819]

*boo-beep* SINKRATE *whoop whoop* PULL UP

[Anonymous No.4665838]

>>4665669
>so fucking poor it's viable to sell for cash
>still gives people advice
lol

[Anonymous No.4665848]

The chinks are about to dump too. LMFAO!

Hang on optimistic normies.

[Anonymous No.4665998]

>>4665301
Then your losses will count against the earnings. It's your net gain that will be taxed.

[Anonymous No.4666038]

>>4664103
Am I the only one who doesn't mind paying taxes? I use roads and other stuff built by the government after all.

[Anonymous No.4666053]

>>4665677
Uhh you don't think they'll do the same thing again?

[Anonymous No.4666064]

>>4666038
Curious how many of these stupid kids here are pro-Bernie/socialism but don't want to pay taxes...

[Anonymous No.4666077]

>>4664229
5%er checking in. bulk buys @$200 keeps me off yay!!

[Anonymous No.4666094]

>>4666038
Sorry anon, you're a rare breed. Most humans are selfish degenerate animals that will only do something if it directly benefits themselves. Inb4 berniebro/communist. There's a middle ground between ancap and communism.

[Anonymous No.4666106]

>>4666064
Pro Bernie
Don’t mind paying the taxes

Maybe Bc the job pays well...

[Anonymous No.4666122]

>>4666038
I would be if it didn't go to niggers' welfare and aid money to africa

[Anonymous No.4666270]

Look you autists. When you do your gains, you calculate the taxes in and keep records of your expenses. Form an LLC and then get a tax person. You still end up with more money than you did before.

Hell... If it really bothers you, start a church like scientology and just say you are doing the lords work and be tax free.

[Anonymous No.4666406]

Ooh and if it really fucking bothers you.

You should have just used your investment money to buy miners and had them send all the BTC to paper wallets.

Better yet... Monero paper wallets.

[Anonymous No.4666428]

>>4666122
Welfare shouldve been abolished. It has done nothing but caused social cancer to any community.

Welfare should only apply if you lost your leg and arms, cant breath normally or other shit like that. I don't a give a fuck if Tyrone has "ADHD", the fuck is that and he gets paid from the government? Get that gay shit out of here. People who are mentally disabled should stay at the mental house. Not heading to kmart and complain about already price dropped sales to fit into their budget they dont deserve

United States is broken

[Anonymous No.4666436]

>>4666038
>roads
How much of an idiot do you have to be to use and like roads? They're like the main symbol of centralized power. No roads should exist in a truly libertarian society, which is the objective for crypto.

[Anonymous No.4666467]

>currencies that can be converted into traditional currency are property for tax purposes
>zero people here have any intentions to go back to fiat kek
scribd.com/document/365893210/US-v-Coinbase-order

[Anonymous No.4666514]

>>4664103
So I made around 50k

Never kept records, will try to pay taxes on it, will get audited, no records.

Looks like I'm going to jail.

[Anonymous No.4666530]

>>4666122
>>4666428
>>4666467

It is only going to get worse too. Local municipalities are underwater as is with record taxes that are starting to dwindle from the Obama bar tender jobs and retail armagedon. The Fed will raise the rate in Dec. for the last time and continue injecting capital to stabilize housing hard along with equities and securities.

At this rate the pensions will bust since they can't raise rates further/faster without causing a market panic. Wages continue to stagnate and fall, global housing markets cooling, record debt (mort., auto, student, cc), dxy has to be kept low to inflate some of the pressure away and retail consumer confidence in the markets rising is ATH.

Be very fucking careful avoiding taxes but that being said be very fucking careful reporting crypto. It is going to get ugly when the local, state, federal government, banks, industry sectors, niggers and spics all need a bailout. If you are dodging and make a good salary give back, fiat only, to an animal shelter, elderly home or something that doesn't feed the ghetto army.

[Anonymous No.4666569]

>>4665477

i have never desired a post to be a troll attempt more than this one. because if it's not then it's one of the dumbest things i've ever read

[Jake Bronson No.4666583]

>>4664371
20k value regardless of denomination

[Anonymous No.4666612]

>>4664624
isn't that blatant money laundering?

[Anonymous No.4666620]

LMFAO!

DID YOU GUYS SEE THAT?!?! Not even the chinks are able to keep this from falling.


bye bye BTC!

[Anonymous No.4666621]

>>4664103
>tfw I've never moved more than 2k at a time on coinbase.


>tfw I can't figure out how to cash out a million dollars in bitcoin

[Anonymous No.4666638]

>>4664103
>over $20k
Literally no one on this board

[Anonymous No.4666668]

>>4666514

Just do your best to reconstruct history anon, if they audit you and you dont have records the worst that happens is they assume the cost basis of the unaccounted for amount is zero... If you still have the 50k cash it out to fiat and don't spend it until you're in the clear

[Anonymous No.4666688]

>>4666612
pretty sure its not illegal for consumers to buy bitcoin without revealing your identity... yet.

[Anonymous No.4666699]

>>4664266
If Bitcoin crashes because of IRS shenanigans I think we're gonna see dead tax collectors

[Anonymous No.4666700]

>>4665814
uncle sam wants his fucking money

[Anonymous No.4666718]

>>4666666

[Anonymous No.4666747]

>>4666668
I'm just wondering about the trades on GDAX. Like I have no idea...

Why isn't there a nice form like Ameritrade REEE

[Anonymous No.4666749]

>>4664103

LE TAXMAN BOOGEYMAN

[Anonymous No.4666934]

>>4666747
http://bitcoin.tax

[Anonymous No.4666971]

>>4664103
why sell, they already have your records and you are fucked either way.

[Anonymous No.4666979]

>>4664103
>this is a bad thing.
>this doesn't bring more legitimacy and transparency to crypto.

[Anonymous No.4667058]

>>4664103
>over 29k$
wew lad, close. All good

[Anonymous No.4667062]

>>4664103
>>4664162
>>4664266
>>4664320
>>4664370
>>4664396
>>4664409
And on and on through the fucktards itt
>20k in crypto between '13 and '15
Uh, yeah, sounds like a fucking goddamn good problem to have. You fucks need some perspective.

[Anonymous No.4667998]

>never cash out to fiat
>problem solved

[Anonymous No.4668016]

>Any order over $20k
>From 2013-2015

So we're all fine then

[Anonymous No.4668053]

>>4664266
If you're smart it wouldnt be that hard to print off a fake ID and completely subvert their tracking abilities. A suitable printer is about 3k, then it would only be a matter of selling the coins for cash in person.

[Anonymous No.4668065]

>>4668016
I thought it was $20k total but it's $20k in one transaction.

Thank god! Always did $10-15k

I'm saved!

[Anonymous No.4668084]

>>4667062
LMAO fiatcucks that sold 20k+ worth of bitcoin in 2013 are getting ass rammed by the IRS too

[Anonymous No.4668110]

>>4666077
Poor guy
F

[Anonymous No.4668113]

>>4664832
>It feels like 70% of the posts on this board are people trying to scam you into something

It's only 30% trying to scam you. The other 70% are just trolling.

[Anonymous No.4668202]

>>4664747
you still have your chance to pay your gelt
I suggest you pay goy or you will be dealt with

[Anonymous No.4668203]

>>4664103
Yessssssssssssssssssssss

Didn't make the cut.

[Anonymous No.4668210]

This is why they are going after CBase so hard.
http://fortune.com/2017/03/19/irs-bitcoin-lawsuit/

[Anonymous No.4668226]

>>4664725
except when they kill you and take your 100k

[Anonymous No.4668413]

Pay your taxes. That's it

[Anonymous No.4668513]

>>4664747
You get to claim capital losses.

[Anonymous No.4668568]

>>4666428
>>4666530
Go back to /pol/ shithead. It's funny because it's usually trash like you shitting up the bitcoin begging thread.

I'd rather have my money going to improve humankind then fight a stupid war.

[Anonymous No.4668616]

>>4668513
Why

They clearly don't care about anyone unless you're dropping huge amounts of money at a time

[Anonymous No.4668724]

>>4668616
Just trying to give him some hope. You're right that the IRS probably has like five people who even know what Bitcoin is and aren't gonna bother chasing down NEETs.

[Anonymous No.4668768]

>>4664103
This fucker has too many names.

[Anonymous No.4669102]

Okay? Move to a different country no big deal

[Anonymous No.4669210]

>>4664480
etherdelta

[Anonymous No.4669480]

>>4669102
I do need a change of pace and some nice sunny scenery would be awesome. Anyone know if tax havens are safe to live in?

[Anonymous No.4669533]

>>4668568
shitting up a bitcoin begging thread, holy fuck how pathetic...

[Anonymous No.4669540]

>>4669480
Just don't leave the bank lobby

[Anonymous No.4669594]

I cashed out at 10k.
Now I'm too afraid to sleep.
You guys promised me a price correction WHERE IS IT???

[Anonymous No.4669864]

>>4664889
fuck the IRS they can come and find me

[Anonymous No.4669907]

>>4666094
the US was tax free up until world war 1. did you know the federal reserve is unconstitutional? fuck the jews

[Anonymous No.4670037]

>>4669907
>federal reserve is unconstitutional
This is the stupidest argument ever.
By your thinking punishment for murder is unconstitutional because it isn't spelled out.
News flash: the constitution says the courts and legislative branch does this stuff and makes laws.

[Anonymous No.4670065]

>>4670037
NO TAXATION WITHOUT REPRESENTATION REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.4670221]

Is there ANY way I can somehow cash out my BTC and buy a house with it? I'm sitting on enough coin where I could either pay off my house outright or buy a nicer house here in DC.

What are my options here?

[Anonymous No.4670285]

>>4670037
No you're an idiot. Murder is a state issue, spelled out in state code. The Constitution carves out a limited set of powers for the federal government. Creating a Federal Reserve really ain't one of them.

[Anonymous No.4670386]

>>4670221
Are you working? If not, I think you can cash out $37k/yr at 15%, assuming you've held it at least a year. https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Can sell it all and pay a whole quarter to the tax man, but $37k/yr can pay off a decent sized mortgage.

[Anonymous No.4670410]

>>4669594
you fucking fool...

[Anonymous No.4670432]

What portals/exchanges should we be using if not Coinbase

[Anonymous No.4670445]

>>4670221
gemini?

[Anonymous No.4670527]

as along as you dont cash out it wont matter, many stores are starting to support bitcoin, the transaction fee can be dealt with by buying bcash or ripple.

[Anonymous No.4670543]

>>4670386
Yes, I'm currently working and have a TSP with the government. This shit is goddam life changing.

[Anonymous No.4670650]

>>4670543
Oh also I was reading that wiki page wrong. I think you'd be 0% if you earned under $37k working. Instead, I think no matter how much you cash out you'll owe 15%.

But, you know, get an actual accountant rather taking tax advice from a Vietnamese polo forum.

[Anonymous No.4670676]

>>4664229
True, but if they pass an easy law first it opens the door to further regulation though. This was inevitable, from now on we will only complain about how much worse it is getting.

[Anonymous No.4670713]

>>4670037
Murder Violates someones 4th amendment dumbass

[Anonymous No.4671019]

>>4664747
Why? Because it creates the first form of regulation. Which leads to more.

[Anonymous No.4671686]

>>4666038
Taxes aren't a problem. Regulation is the issue. Currently bitcoin isn't a legal currency. That gives it even less security of over taxation.

[Anonymous No.4671727]

>>4670037
The Federal Reserve is not owned or operated by the United States of America. It doesn't even sit on American soil.
Yes income tax the way it is currently being enforced is unconstitutional. Open a book, and you would start to understand why.

[Anonymous No.4671793]

>>4664229
>tfw when in crypto since 2013 but never had the money to spend cuz straddled with debt from rolling too many uninsured cars

feels bad, lived frugal as fuck just to dig myself out of the hole I was in, and now that I'm there crypto is normie land.

[Anonymous No.4671859]

This is Napster all over again:

> US Government: if we stop Coinbase we can stop the money laundering.
*10 alternative sites pop up immediately

[Anonymous No.4672390]

>>4664633

POO IN LOO

[Anonymous No.4672550]

>>4664103
Hahahaha glad I'm too poor to make orders of 20k