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/biz/ - Business & Finance

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5704053 No.5704053 [Reply] [Original]

Damn guys you are fucked, you need to pay fucking huge taxes if you are a regular trader. Daytrading isn't even possible anymore.

https://www.youtube.com/watch?v=q5VCq3pX3ys

Now I know why many exchanges don't allow USA traders.

I LOVE EUROPE :)

>> No.5704147

>>5704053
Just trade on a DEX or a chink exchange....

>> No.5704173

>>5704053
>crypto
>taxes

LMAO

>> No.5704180 [DELETED] 

>>5704053
FUCK TAXES JUST DONT CASH IN MAJOR AT A TIME
https://discord.gg/shKH5bY
NEW PUMP AND DUMP GROUP, AIMS TO PUMP A NEW COIN EVERYDAY 6PM EST ONCE 5000 PEOPLE JOIN!!!!

>> No.5704193

Americans Unite against this bullshit!

>>5704053

>> No.5704221

Like Kind has never been allowed. All this new code does it clarify it. You download trade data and run it through bitcoin.tax and then pay what you owe.

How can you be so retarded?

>> No.5704255
File: 185 KB, 1200x1456, Andrew_jackson_head.jpg [View same] [iqdb] [saucenao] [google]
5704255

>>5704053
THE IRS, MR. VAN BUREN, IS TRYING TO KILL ME, BUT I WILL KILL IT.

>> No.5704267

>>5704053
Soon as I make it, I'm renouncing like Roger Ver.

FUCK THIS COUNTRY! WE ARE NOT FREE HERE

>> No.5704285

What is to stop you from transferring all your coins to monero and then to btc and just say to the IRS, "uhhh I mined it like 4 years ago and then forgot about it but I want to cash out now"

>> No.5704299

>>5704255
BASED

>> No.5704310
File: 295 KB, 539x960, 1509920364964.png [View same] [iqdb] [saucenao] [google]
5704310

?

the tax law was like this before you dumb duck crypto to crypto tax free was always a meme

>> No.5704308

>>5704285
prove you mined it anon

>> No.5704309

>>5704285
Wouldn't that be worse, turning all your money into capital gains?

>> No.5704332

>>5704053
This is so fucked. It will literally take up your whole life, demoting you to an essential wage cuck - nevermind the fact that you'll get buttfucked on taxes. Fucking burgers when will they ever learn.

>> No.5704348
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5704348

>>5704255
>>5704299

>> No.5704375

>>5704309
Not if you say you had help it for like 3 years
>>5704308
"I threw that computer out years ago, I just have this hard wallet with a fuckton of bitcoin in it I forgot about"

>> No.5704414

>>5704375
You know every bitcoins transaction history is publicly available right?

>> No.5704435
File: 74 KB, 576x576, Andrew-Jackson-.jpg [View same] [iqdb] [saucenao] [google]
5704435

>>5704375
they will have to accept it.
Otherwise you can just gift them to your dad and he can say he got them from someone then he can give you money.

The thing with monero and crypto in general is, it's just too disruptive and 2 steps ahead of the IRS cucks, they can literally go fuck themselves

>> No.5704444

>>5704414
Doesn't matter what coin it is, you could use a privacy coin like monero instead

>> No.5704447

It's everywhere. https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity

>> No.5704491

>>5704053
Sorry officer I sent my monero to the wrong address!

>> No.5704495

>>5704444
damn, nice quads me

meme magic says that this is the best way to avoid burger taxes

>> No.5704499

>>5704444
But unless you can exchange that monero for cash on a site that won't tell the IRS, it won't do you any good.

>> No.5704536

Listen, all of my American Bros. All you have is live in Puerto Rico for 183 days and you dont get taxed. Moving to any other country doesnt matter because you still owe. But Since PR is a territory of the US that pays 0 fed taxes. You can move there. So basically, I will be seeing all my millionaire /biz/ bros chilling in islands rich as fuck.

http://www.escapeartist.com/blog/4-ways-pay-zero-tax-cryptocurrency-gains/

>> No.5704557

>>5704499
he can sell monero for bitcoins on binance or other exchange not touched by the irs cucks
and then sell btc for fiat
he can also send btc through a few different wallets just to be sure there is no direct connection with any exchanges

>> No.5704580

>>5704557
And wherever you sell that BTC will tell the IRS.

>> No.5704637

>>5704580
and what's the problem?
the crypto-fiat exchange will never be able to track your btc history further than to a previous exchange
and you can say someone probably send you that bitcoin because he liked your blog post or something

>> No.5704667 [DELETED] 

>>5704053
I NEED TO GET PAID AND SO DO YOU, JUMP ON THIS
https://discord.gg/shKH5bY
NEW PUMP AND DUMP GROUP, AIMS TO PUMP A NEW COIN EVERYDAY 6PM EST ONCE 5000 PEOPLE JOIN!!!!

>> No.5704679

>>5704053
WAIT HOW DO YOU HOLD A FUCKING CRYPTO IF YOU HAVE TO SELL AN ALTCOIN FOR ETH/LTC/BTC??????????

YOU CAN LITERALLY NEVER QUALIFY FOR LONG GAINS TAX

>> No.5704703
File: 932 KB, 2400x1800, prww2.jpg [View same] [iqdb] [saucenao] [google]
5704703

>>5704536
>http://www.escapeartist.com/blog/4-ways-pay-zero-tax-cryptocurrency-gains/
I've always wanted to take a trip to the motherland. Looks I got a reason now.

>> No.5704706

>>5704637
You will be forced to pay capital gains tax when you sell that bitcoin for fiat.

The only option I can see is to sell Monero directly on TOR for cash. Actual paper money too, not a deposit in some account.

>> No.5704716

>>5704499
No, you don't get it. I WANT to tell the IRS, I want to pay some form of taxes. I just don't want to pay fucking taxes on short term holds. If you made let's say 5million on cryptocurrencies through day trading, youll get fucked up the ass by taxes, but it's easier to accumulate a fuckton of money quicker than hodling. Now if you tell the IRS that you made all of that money hodling you will only pay a small long term capital gains tax instead of income.

>> No.5704729
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5704729

>>5704053
nigga fuck taxes
and fuck coinbase

cash out correctly

>>5686031

>> No.5704766

>>5704706
oh, wait looks like we've been talking apples and oranges.
I'm not saying to avoid taxes, there are different methods for that.
What I said was the way to skip the crypto-crypto tax BS, tracking your entire order history like and autist etc. just pay when you cash out btc and that's it. you give the jews their 20% or whatever it is and no further hassle,

>> No.5704812

>>5704766
oh then yeah that should be possible. I don't think you even need Monero for that. Just trade on an exchange that won't talk to the IRS. I.E. not one in the First World.

Binance is in Singapore iirc, seems like a good choice.

>> No.5704846

Real talk, can I get a TenX or Centra card and just spend my crypto without ever paying taxes on it? Gotta use these bags of LTC for something...

>> No.5704871

>>5704812
>>5704766
You don't need to track your order history manually btw, every exchange that would report to the IRS has a tool to download your history, which you can put through bitcoin.tax.

>> No.5704897

>>5704716
>don't want to pay taxes
>prefer to lie to IRS instead

Nigga you dumb

>> No.5704906

You love Europe? Then don't come to Germany, this exact law has been in place here since forever. We had to convert every fucking crypto/crypto trade into EUR and pay taxes on that.

>> No.5704920

>>5704846
No, these crypto debit cards send the transactions to your local tax authority.

>> No.5704942

>>5704871
Short term crypto to crypto taxes are bs. We're trying to avoid them by tumbling all your coins through a privacy coin and then cashing out in btc with the excuse "uhh yeah I mined them bitcorns like 5 years ago and then forgot about them. Guess I'm rich now and you guys can have your 20%"

>> No.5704945
File: 6 KB, 108x72, 1461387736414.jpg [View same] [iqdb] [saucenao] [google]
5704945

>>5704053
>europoorean: ahahaha fuckin ameritards your country sucks fuck you hahaha i hate you enjoy not having healthcare and shit haha retards
>americhads: i don't think about you at all

>> No.5704958

>>5704920
Wtf way to defeat the entire purpose of decentralization

>> No.5704984

>>5704871
it sound nice and easy in theory
I'm sure that this magical software will get stuck like a truck in mud at one point or another. Every exchange probably uses a different formatting style etc. Also can this magical software process between-wallet-transfer, include fees, airdrops, free forks etc?
It's gonna be a cluster fuck, I can guarantee you.

and there may be a difference in the amount you owe depending if you calculate every single trade or only the final cash out-investment

>> No.5705006

>>5704942
>uhh yeah I mined them bitcorns like 5 years ago

>IRS:"Oh really, then show us your notarized mining logs."

>> No.5705019

>>5704942
exactly,
I don't mind paying 20%.
But Im sure as hell not gonna let them accuse me of tax fraud or something because my 15 pages of calculations don't add up exactly to the amount they should at the end.

>> No.5705047

>>5704984
like I said, just trade in a foreign exchange and tell them to pound salt.

You think the yellow monkeys over at Binance are gonna tell the IRS shit? Hell no.

>> No.5705053

>>5705006
>I don't have them I was a kid back then
or
>someone sent me this btc


what are they gonna do? say no to that tasty 20%?
fine then, there are many other countries who are more than happy to take it without complaining

>> No.5705142

>>5705053
>I don't have them I was a kid back then

>IRS:" Ok Mr Anon, since you can't prove that you legally obtained these coins, we must file a court order."
>*Court forces you to hand them your coins*

And if you fail to give them the coins they will put you in jail.

>> No.5705192

>>5705142
What if you lost the private keyes?
will they put you in jail too?
will they stop you at the airport?
will they read all the keyes and passwords from your mind?
we are talking crypto here, not hiding dead boddies

>> No.5705256

>>5705192

The same situation with that guy that had CP on his encrypted hard drive. The court ordered him to hand out the password and he said that he "forgot" it. He still is in Jail.

>> No.5705274

>>5705006
"I threw out that computer years ago."

checkmate IRS

>> No.5705334

>>5705256
that's science fiction but there is a solution for even your scenarios

before you sell anything for fiat, contact some hardcore crypto lawyer/accountant to see what you can expect. And if he says that mr IRS is too picky you go somewhere else

Unless you believe that the government will put in jail every person who has ever held btc in their lives lmao

>> No.5705340

>>5705274

You still need to prove that you have legally obtained these coins, how else are they supposed to tell that you got your coins, from let's say drug trading or other illegal ways?

>> No.5705374

>>5704812
>Binance is in Singapore iirc, seems like a good choice.


you my freind dont know how far the U.S will go to fuck 1 person in ass

>> No.5705375

>>5705340
you say you got it from one of your fans from your blog post/youtube video

>> No.5705395

>>5704053
>telling the IRS anything about my alt trading
Why should I? The exchanges have no legal info to trace jackshit back to me
Eziest tax evasion ever

>> No.5705396

>>5705334
https://arstechnica.com/tech-policy/2017/03/man-jailed-indefinitely-for-refusing-to-decrypt-hard-drives-loses-appeal/

That's not how courts work. If there are previous similar cases to this one (like in the link above), then the judges will 100% do it the same way.

>> No.5705414

>>5705375
That's money laundering, and it's 10x worse than tax evasion.

>> No.5705419

>>5705340
why is the IRS so gay goddamnit, I even want to fucking pay their damn taxes but I'm not gonna fucking file transferring my eth to fucking shitcoins. Why can't we be like the aussies where there's only tax when you cash out?

>> No.5705432

>>5705256
That is literally illigal under the constitution. You can NOT be forced to self incriminate. The judge will get sued and loose if/when it comes before the Supreme Court.

>> No.5705457

>>5705414
than you want to tell me that all the youtubers/blogers/paid discor groups founders will never be able to sell their coins?

>> No.5705460

wait, there's taxes on a simple exchange now? how the hell can they tax you when you havnt even gained any actual money?

>> No.5705484

>>5705419
The IRS doesn't only care about taxes. They need to make sure that you didn't obtain your coins in illegal ways like drug trading, weapons sales, human trafficking etc.
Just make sure that you have trading logs from exchanges.

>> No.5705494

>>5704536
My grandfather is Puerto Rican so it wouldn't look strange at all if I went "home".

Do these exceptions still apply if your crypto gains were attained before residing in Puerto Rico? Or could you just say you were given an unknown amount of Monero after you moved there?

>> No.5705508

Is this going to kill crypto trading in the US? Who would make a trade if the IRS immediately steals 20% of it?

>> No.5705553

>>5705460
No you're only taxed on gains, but if you make like $1,000 off transferring btc to eth just because you bought at 15k and it went up to 16k literally within the hour, you're still liable for the 1k, even if all your money is in eth by the time tax season rolls around

>> No.5705560

you can still buy gold with btc
sell the gold after

>> No.5705585

>>5705508
20% wouldn't even be that bad
good luck when they put you in a 90% tax bracket or something because they will say it's your main source of income, look how many unemployed neets are here.
Before you sell any big amount for fiat ALWAYS make sure either by yourself or some good lawyer/accountant that you're not gonna get raped by taxes.

there was a history of a dude on twitter who was unemployed I believe and even though he made like half a million or more got taxed 90% which fucking puts you back to the wageslavery trademill

>> No.5705623

>"Huh, Mr. Anon, where did you get all this gold from? Can you prove that you didn't recurve it through illegal means? No? Well I guess we'll have to take it for now until you can prove it's truly yours"

>> No.5705665

>>5705623
Fuck, @
>>5705560

>> No.5705668

>>5705623
>You can eat the shit out of my ass Mr. Taxman, just scoot on over here a lil' lemme shit in your mouth.

>> No.5705679

>>5705585
>90% tax bracket

How fucking retarded are you? Maximum tax bracket is 39.6%.

>> No.5705689

>>5705585
There is no 90% tax bracket. It maxes out around 50% as short term capital gains are taxed as income.

>> No.5705694

>>5704221
No, you dont have to do that. All you have to do is give your capital gains when you cash out because crypto-to-crypto are unrealized gains. You dont pay taxes on unrealized gains.

>> No.5705700

>>5705623
>my jewish friend sold it to me

>> No.5705704

>>5705679
>this nigga don't know about state and local tax

>> No.5705715

>>5705679
>>5705689
maybe in the JewSA, there are some even more cucked countires in Europe that have 90% brackets
All I'm telling people to tripple check their situation before selling "life changing amounts"

>> No.5705732

>>5704053
>Be leaf with green card
The day they come after me is the day I buy a one way blame ticket out of this country and tell them to shove their fucking green card up their ass.

>> No.5705748

>>5705704
this.
Call it however you want, what Im talking about is the maximum potential percentage they can rape yoi on. And it sure as hell is more than 39

>> No.5705770

>>5705748
ah hahahah...

we're so fucked.

>> No.5705774

I'll just wait until every single commodity is valued in crypto and untouchable by anyone but me.

>> No.5705828

>>5705585
>work fulltime
>make more in crypto holding them I did at my job

Feels good man

>> No.5705854

>>5705715
>Europe that has 90% brackets

At this point, you just buy a citizenship from St Kitts for $250k and enjoy the tax-free status and visa-free travel for 150 countries.

>> No.5705890

>>5704053

don't voluntarily pay taxes on crypto you cucks, wait until you get caught and pay the penalty. you won't go to jail unless you're fucking with millions and deliberately trying to hide your tracks

>> No.5705922

>>5705770
I've said it here before and I'm gonna repeat it once more.

All those IRS rules/guidelines are made as fucking complicated as possible on PURPOSE. They KNOW you won't ever be able to calculate all your crypto history exactly. They fucking know it and are just waiting for your Slightly-off-reports to accuse you of tax fraud etc. They won't go after normies ith their 2k or something. They will go after every neet who is about to ecape the wageslavery for good.
Good luck doing your taxes/trade calculations, you'll spend 2 weeks on it and it's gonna be like that math/engineering project, you calculate everything like an autist for hours and at the end it's close, it's really fucking close to what it should be, but guess what, it's still off. Doesn't matter if it's 1 cent or 10k. It's off and they jews will find every excuse to not approve your report.
>inb4 hurr durr Im not a brainlet I will calculate correctly
all they need to do is show you price different to what you reported from a different source at any given point in in the past to "prove" you wrong.

>> No.5705958

>>5705922

if you're talking about that much money hire a tax attorney to figure it out for you. transfer the liability.

>> No.5705977

Can't believe I was in the Marines for this fucking horseshit.

>> No.5705990

>>5705958
yea, that's what I preached here before.
Don't cash out untill you make it out of this wageslaving hell, then hire some turbo kike lawyer to do it and enjoy your freedom on the other side

>> No.5706056

>>5704053

They can go fuck themselves. Like hell I'm paying taxes.

>> No.5706171

For everyone person here that says "I'm not gonna pay taxes" I'm sorry guys, but, you will. The establishment wants crypto to be adopted, and they have their chosen currencies. They control Bitcoin, Ripple, IOTA and probably others. They use tools like Chainanalysis to identify your wallets on the blockchain. They are very much prepared to tax crypto.

It will be our job to get people out of Bitcoin and into the real organic altcoins, and get people into decentralized anonymous exchanges and promote the anon coins before we can start any kind of backlash against the establishment.

In the meanwhile, we are going to have to pay taxes whether we like it or not, or we'll have boots on our doorstep. Unless of course you're trading less than $10k worth.

>> No.5706247

>>5705922

Eh my buddy made $30k off ebay one year and never kept good records of what he bought and paid for things. He got ass raped and owed some money but they didn't throw him in jail for shoddy records.

>> No.5706282

>>5704053
This is a joke of legislation. They have no idea what they're writing a law for, all they know is that people are making money and they want theirs.

There is no way that they have the manpower or expertise to enforce this.

>> No.5706287

>>5705694
This

>> No.5706316

>>5704053
Can't tax me if I withdrawal off shore

>> No.5706318
File: 2.20 MB, 1228x1739, trump.png [View same] [iqdb] [saucenao] [google]
5706318

hh-hahh-ahah

based drumpf...

>> No.5706336

>>5706282
they did it on purpose. how is the economey supposed to look good on paper when people are fucking with other currencies

>> No.5706381

>>5706336

Does the law even specifically address cryptocurrencies? AFAIK it's just a basic law closing the loopholes on like-kind for anything, could be magic cards or precious metals. I roll my eyes everytime people make it out to be a conspiracy against crypto.

>> No.5706385

>>5704053
Same old bullshit FUD. If you make profits, you pay tax on the profit. If you have losses, you can write them off. So you pay tax on your NET PROFIT. All the new law does is close some loopholes that people were using to avoid paying any tax. Any other interpretation is wrong and FUD. Period.

>> No.5706395

Lmao I pretty sure these laws were already in place in Canada. Just ignore it, pay your taxes as normal.

>> No.5706403

>>5704053
Who cares? Just trade on Chinese websites. There are tons. And sell your coins on LocalBitcoins

>> No.5706416

>>5704053
Doesn't this make the prices more stable though?

Now you are pretty much incentive to Hodl. am i wrong in my logic there?

>> No.5706452

>>5706403
that is a good methog up to a certain amount. You probably won't be able to get away with buying real estate for cash without the jews to get interested about your situation

>> No.5706467

>>5706416
No it's more incentive to trade more. Makes it more confusing for the cunt who has to sort through my trading logs lmao

>> No.5706493

>>5704053
Oh dear a 15% tax how terrible

>> No.5706515

>>5706467
I thnk the problem is that you have to sort the logs by yourself.

It's gonna be a fun year anyway. Those latino women at IRS going through your cryptopia trading history with a transaction of 1hitler coin for 1488 niggercoins

>> No.5706527

Welcom to Belarus. No taxis on crypto in 2018.

>> No.5706573

>>5706403
hold the fuck up what are these chinese exchanges.

And how am i supposed to sell eth on localbitcoins cos i wouldn't touch that shitcoin btc with my worst enemies dick

>> No.5706578

>>5706467
Well the CPA is going to be doing that for you so you don't really want to be fucking them over. However, If the IRS audits you then it would make for some good laughs.

Either way, I still think this is retarded and there is no way the IRS could track all this. They would be better off just automatically auditing you if you say you are into crypto

>> No.5706602

>>5705922
More bullshit. They're not going charge you with fraud you made any effort, and it's a little off. They'll just make you pay the difference. If you're not trying to dodge paying altogether, you don't have much to worry about. End of story. Fuck off with the FUD.

>> No.5706624

>>5706527
>go to Belarus
>open bank account
>cash out crypto through coinbase to Belarussian bank account
>some random corrupt politician freezes your account and seizes the cash
>go cry to the FBI
>FBI:"We are sorry Sir, but Belarus is not under US jurisdiction"

yea, very good idea anon

>> No.5706685

>>5705256
>>5705142
>>5705340
When exactly did we go from having to prove the guilt of a party to assuming the guilt of a party and making them prove innocence?

>> No.5706717

>>5706452
>won't be able to get away
What if I tell you I could? As a matter of fact, my parents are Jewish and I am sure my father (or one of my relatives) could do some "creative accounting" for me to solve my tax problems.

>> No.5706753

>>5706515
>Those latino women at IRS going through your cryptopia trading history with a transaction of 1hitler coin for 1488 niggercoins
Holy shit lol. That's right. How are the diversity hires going to get through anything the government is a joke. Someone on /pol/ was posting about their government job and how so many people are just affirmative action hires and do horrible fuck all for work. So little is done but they still get they're salaries.
Incompetent and bloated with worthless diversity. This is what your taxes are for, boys.

>> No.5706816

>>5706753
This.

These IRS caseworkers are all normies that hate people like us that actually make. They will make your tax process as painful as possible for you, so they can feel better for their pathetic life.

>> No.5706828

>>5706624
More likely is a death sentence for the corrupt employee to make an example for the rest of them. Don't fuck with the new source of income for the country. Poor countries like foreign tourists and money.

>> No.5706850

>>5706685
Since you forgot to check your privilege.

>> No.5706886

>>5706717
well in that case of course it's possibe, I was assuming a scenario of a neet totally on his own with a shitload of cash under his matress

>>5706828
this
just like when you go for vacation to a poor country, they would shit even on their own citizens just to get you juicy monnies

>> No.5706899

>>5704053
This is such bull shit the fucking boomers cannot accept the children making more money than them they are so fucking jealous its unbelievable they just can't understand the technology

>> No.5706910

>>5706828
>More likely is a death sentence

Who is going to enforce that? A Belarussian court? Guess, what? All judges won't dare to do something against these corrupt politicians. Do you know how poor countries and dictatorships operate?

>> No.5706941

Can't wait another 30 years for all the baby boomers to fucking die off.

>> No.5706964

>>5706910
>belarus wants to make money by inviting rich foreign citizens
>they decide to fuck them over scaring all of them away
pick one

>> No.5706986

>>5706910
>judges won't dare to do something against these corrupt politicians.
And these corrupt politicians want foreign money.
>Do you know how poor countries and dictatorships operate?
With force and kicking money up the pyramid.
Get in the way of the leaders' money and you'll get the rope.

>> No.5707032

>>5706986
Truth

>> No.5707043

i am always amazed at how fucking retarded biz continues to be. have any of you dealt with the irs or suffered through an audit? dealt with backtaxes and fines? the burden of proof is on you, not them. all they do is fine you and it's up to you to prove them wrong, which you won't be able to do. i don't understand this site sometimes, you're all posting about "making it" and being millionaires but you actually think that putting your gains into monero or cashing out into fiat and just not paying is going to somehow work. it's a fucking public ledger you fucking imbeciles.

>> No.5707103

>>5707043
if it's like 20k and you cah out through local bitcoins, what are they gonna do?
as long as it's cah kept under the matress they can go fuck themselves.
When it's a 6 and above figure amount that you want to freely use in the future then it's diffferent

>> No.5707129

>>5707043
Why is this allowed?
What exactly gives them the power to put the burden of proof on you, not them?
What happened to innocent until proven guilty?
I assume they have to show their evidence for fining you, correct?

>> No.5707160

>>5707129

As I understand it is a civil penalty and civil law is a whole different animal than criminal. Now if they wanted to lock you up for tax evasion yeah they would need to put together a solid case and prove it.

>> No.5707170

>>5707043

You seem to know more than me. I've gotten away with shitloads of tax evasion and consider it dumb ass luck. With Monero and their anonymity, its not public ledger right? Can't I just claim my profits as some kind of regular ass income and pay income taxes on it?

>> No.5707209

>>5705047

this is so wrong. if you're moving real money, over 10k, which i'm sure most of biz isn't, you have to file an fbar if you're using binance. if you don't the fines are insane, like 100k. again, burden of proof that the money didn't just magically appear out of thin air is on you, and it's going to trace back to binance eventually. why are all the people here fucking neet retards who are larping as day traders?

>> No.5707243

>>5707170

how would you prove the income? now you're committing fraud.

>> No.5707304

>>5707209
Maybe a lot of neets started crypto and became day traders.

>> No.5707306 [DELETED] 
File: 115 KB, 620x827, 1514668694933 (1).jpg [View same] [iqdb] [saucenao] [google]
5707306

We list which coins on no news had the highest percentage rise today? Ill start Xrb
Stellar
Link

>> No.5707372

>>5704053
But your btc in bitconnect. Your gains aren't from trades you did, they're interest.

>> No.5707405

Why is the burden for proof of innocence left to the accused?

>> No.5707423
File: 262 KB, 680x661, NigNog_Pepe.png [View same] [iqdb] [saucenao] [google]
5707423

>>5705694
>>5706287
good luck filling out form 8949 without lying

>> No.5707442

>>5704557
I'm starting to believe that Monero is the only coin worth holding.

>> No.5707497

>>5707405
Because the burden of guilt lies with those who receive the money of the those who must prove their innocence (thanks welfare state).

>> No.5707649

>>5705340
I was raped in a gay porn. They laughed at me, called me a faggot and threw a flashdrive with a bitcoin wallet on it. They weren't worth much back then.

>> No.5707656

>>5704536
This is good info, thanks.

>> No.5707715

>>5705854
Why the fuck does it cost so much to live there?

>> No.5707787

>>5704308
Well they have to prove I didnt mine it if they want to tax me anon.

>> No.5707810

>>5706573
Could try selling on localmonero instead.

>> No.5707868
File: 145 KB, 646x700, 1514696302934.png [View same] [iqdb] [saucenao] [google]
5707868

>>5704053
Oh no, I lose 25% of my total profit! You're a faggot because I can probably make out 3-4 times the amount you do from trading opposed to hodling. Whats good about having money falling and rising, just get the rises and cash out. Fucking cake.

>> No.5707990

>>5704812
Hong Kong get your facts straight.

>> No.5708092
File: 101 KB, 600x400, 1490197960365.jpg [View same] [iqdb] [saucenao] [google]
5708092

Ok so how the fuck do I pay taxes on this? Say I put in $100 bucks into a coin. It goes up to $200 bucks. I flip it and make $50 bucks. So now I got $250 bucks. How do I pay that?

I put in $80 bucks and it grew to $2000 bucks and did some flipping from time to time but not always. How does this all work?

>> No.5708220

>>5705774
We wont have to wait long.

>> No.5708309

>>5706527
Italy / Portugal / Malta have no tax policy whatsoever on crypto right now just so you guys know....

>> No.5708401

>>5708309
You will soon.

>> No.5708805

>>5707243

So what? Good lord you're a cuck. Where's your actual freedom blood? Just don't cash out, take out SALT loans when you need the cash.

>> No.5708903

>>5704536
Wasnt it like donation of $5k for option 22 ?

>> No.5709044

>>5705374
Could be, they did it to Switzerland.

"You give us the names associated with those bank accounts, or we will fuck you in the ass so hard you'll think you shit out another country."
>here are ze names

>> No.5709091

>>5704679
Okay, say you held ripple for a year. Hold for 366 days then sell it, it’s gets sold to btc. You pay long term cap gains on that trade. Then you sell your btc to fiat, we assume you do it same day, so there would be no gain or loss to report on that trade. So yeah that’s short term cap gains, but there was no gain.

>> No.5709116

Member when mericans were revolting against taxes? I member.

>> No.5709291

>>5704053
How does it make you burgers feel that your shitty little "empire" is finally coming apart?

>> No.5709398

>>5707129
>Why is this allowed?
It's pretty simple.
The Feds get information from several sources about income keyed to SSN's. If they don't receive a return, or receive one that doesn't address all of their information on you, they are judged correct in the eyes of the law. They'll even tell you how they got (some of) the info, ostensibly to "help" you pay them. If you still don't satisfy them, they will legally move to propose an assessment against you. That's the real fun part, because even if they turn out to be wrong, you'll still owe them the money if you don't prove it within a proscribed amount of time.

t. guy who they said owed them $3.6 million

>> No.5709537

Taxation is theft

>> No.5709659

>>5709398
you obviously don't know what you're doing then. In crypto this shit should be easy, first off fair pricing the assets is going to be fucking impossible, with every different exchange showing a different price so I could just prove the value of every coin as the value on a tiny shit exchange for instance today coinbene has bitcoin at 2600 dollars. So I'll send a portion of a bitcoin there at some point to add it to the scope of my exchanges and sell it and then register all trades as off coinbene's price so there al capital losses, then just pay taxes based on my capital into crypto and capital out.

>> No.5709777

>>5709398
>t. guy who they said owed them $3.6 million
Then what happened?

>> No.5710261
File: 222 KB, 250x250, 1514472361405.gif [View same] [iqdb] [saucenao] [google]
5710261

This is such a crock of shit on multiple levels.

-People want to pay their taxes in a fair way (fair way being when you cash out to fiat not EVERY SINGLE transaction) but they are making basically more trouble then its worth to get into cryptos.

-They are killing innovation, with this tax plan people are less likely to want to get into crypto on a investor side which means less money coming into the American market and more to foreign markets.

-Cockblocking an entire generation, the stock market is already well established and your inability to by stocks on a fractional basis means you have to pony up alot of money to play with the big stocks or put your money into ETF's or mutual funds to be managed by someone else and get chewed away by their fee structures. Whereas with cryptos, even if BTC went to a $100,000 a coin you could still get $100 bucks worth of that coin.

This all just pissing me off so much. Who was the chucklefuck that added this provision to the tax reform? I WANT NAMES

>> No.5710370

Just HODL until the herd arrives we can spend it freely. Then they'll have no choice but to classify it as a currency. If I can't claim losses due to the inflation of my shitdollars then I ain't filing gains on my precious cryptodollars.

>> No.5710428

>>5710370
Seems like a lose lose. On the one hand you can hold and watch opportuinities pass you buy and on the other you can watch you gains slowly die on the vine so much that when you decide to finally move them you are left with nothing but crumbs on your plate after taxes chews them up.


Fuck me, I think of myself as pretty liberal on a lot of issues but this dumb shit right here is really starting to swing me to the 'less big government' right side of things.

>> No.5710442

It screws daytraders. Just put your money in ripple and cash out in december 2018. ggwp

>> No.5710504

>>5709777
It worked out fine, but it isn't relevant to most of this, as it didn't involve crypto.

>>5709659
>you obviously don't know what you're doing then
It didn't involve crypto, dumbfuck.

>> No.5710512

>>5710370
>Just HODL until the herd arrives we can spend it freely.
This. If you were ever planning to go back to the jew you were never a true coiner. Once the nomies realize they are having their meme coins stolen from them they will organize. We will soon have millionaire redditors that would be willing to give away half of their crypto wealth to a crypto favorable politician just to change the laws.

>If I can't claim losses due to the inflation of my shitdollars then I ain't filing gains on my precious cryptodollars.
That's a brilliant point.

>> No.5711530

>>5705922
They don't define fair trade value, so these Jews have their own fucking problem.

>> No.5711735

>>5707103
They're going to got you with unauthorized currency exchange. That one is the dumbest play in the book right now.

>> No.5712439

>>5704053
How are they going to prove or even find out what I traded when on some trading sites I don't even have a name attached? Does the IRS even care about my normie money anyways?

>> No.5712576

Actually wait, there's no way anyone is going to follow this. It's completely insane. If 90% of crypto traders just plainly don't comply, then what are they going to do? As soon as they realize what's going on or if the media picks up on it, they'll be in such shit that they won't be able to keep up.

>> No.5712682
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5712682

what a great way to start off a new year

>> No.5712916
File: 829 KB, 485x282, 1380476792056.gif [View same] [iqdb] [saucenao] [google]
5712916

>>5712576
I'm just going to wait a little while to see what happens..

As painful as it is.