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9099654 No.9099654 [Reply] [Original]

Can you cash out large amount of bitcoins without trail?
let's say you invested in 2010 and gained $5m USD but you can't prove you invested back then, literally no proof at all

is there a way to actually cash out to the bank?

>> No.9099677

Through coinbase dude.
Open multiple bank accounts, transfer small amounts, one transaction per month.

>> No.9099743

Yes, but you have to change your citizenship. Then 0% tax.
I can provide the connections if this isn't larp.
balenc1aga@protonmail.com

>> No.9099749

>>9099677
IRS will rape you

>> No.9099759

>>9099749
Not really. 15% capital gains. He can show held over a year using wallet history

>> No.9099854

>>9099654

> drugs
> scams
> theft
> money laundering

which one, op?

>> No.9099856

Cash out in a country without bitcoin taxes.

>> No.9099878

>>9099677

This is very bad advice.

You'll need to find a buyer/s in cash, and if you can avoid undercover cops you'll still be unable to bank the money unless you clean it.

Having said that, I'd do it to avoid paying for muhammed and detyson's child support

>> No.9099985

>>9099759
He can't explain the source of the funds.

>> No.9100011

>>9099677

Found the undercover agent.

Op you're a fucking brainlet. You can't move it to an account in the US like that without paying your taxes - get XMR, go overseas and live like a king in a tax haven or use front companies etc to move the money back in and try to avoid too much rape. Or buy 50k $100 giftcards from the DNM or something.

>> No.9100080

>>9099654
get a fucking lawyer to manage it for you. Why would you bother doing it yourself?

>> No.9100831

Just show them how long you've held. They will assume a cost basis of $0 if you don't have anything to show exact prices. It kind of sucks but you can't have paid more than a 1USD/BTC so how much does proving it save you? If it's mining then it counts as self employment. You'll definitely want to ask a lawyer and accountant about this kind of thing. Sure taxation is theft yolo fuck the gubment, but this is a pretty good chunk of money. It's not worth losing everything with en extra dash of prison. If your heart is set on no taxes move to a shithole country with no income tax and marry into citizenship. Cash out and claim it as foreign income, if she's a qt maybe you might even want to take her back to the states.

>> No.9100873

>>9100011

DNM for weed is pretty safe since no govt agency will expend the energy to track down someone buying 1g on 4-20.

Doing money laundering on DNM is liable for FIFTEEN FUCKING YEARS of prison and has no statute of limitations.

Your best bet is convert to XMR then come clean to the IRS, say you made it mining years ago and only just found it. They’ll ask for a one time 30% tax and you’re done.

>> No.9100915
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9100915

Come to Portugal, no crypto tax, cheap cost of living, beautiful mediterranean views, food and climate.
What more do you want you dumb mutt?

>> No.9101272

>>9100915
Are you from Portugal or an expat living there?

>> No.9101318

>>9101272
I'm from here

>> No.9101542

>>9101318
Cool! Do you think they will change the tax law there this year? Is Lissabon a good place to buy real estate, specifically the cascais area?

>> No.9101557

>>9101542
*Lisboa

>> No.9101578

>>9101542
If you got the cash, you get the stash. Cascais is a very nice area. As for the laws, who knows, but I don't think so, our politicians see crypto as a green entry to foreign cryptomillionaires aka money entering the country.

>> No.9101581

>>9099654
Go overseas and cash out or something or put your gains in some Swiss Bank Accounts or Cayman Islands Banks. If there's a will there's a way. Can't believe Americans are this repressed just cashing out their bitcoins. Land of the free indeed.

>> No.9101582

couldn't OP cash out in puerto rico on a trip then come back home? Or would he need to move there for at least 6 months.

>> No.9101585

>>9099856
>Cash out in a country without bitcoin taxes
WE NEED A LIST OF THESE COUNTRIES

>> No.9101652

>>9101578
seems logic to me, this would be my option if my crypto went to the moon. Cascais and even Lisboa are fantastic places to live. and Portuguese people are multilingual.

>> No.9101700

>>9101578
>>9101652
Thanks! I have been considering this and will wait until the end of the year to see if the tax law has not changed. Do any of you happen to know tax residence laws, is it enough to buy property or do they want you to stay 183 days in the country as well?

>>9101585
There are very few, apart from the 0 tax countries you have HK, SG, Belarus, maybe Switzerland and currently Italy(maybe) and Portugal as well

>> No.9101732

>Poortugal
Nice third world shithole. Might as well cash out in Sudan.

>> No.9101750

>>9101652
Have you looked at the other cities? You can divide it into the big city group (Lisboa and Porto), historical cities (Coimbra, Bragança, Braga, Viseu, Guarda) if you like castles n sheeit, you have the hot south full of tourists (whole Algarve area), you have the deep forest/natural reserve area (Gerês/Serra da estrela) and finally you have the desert area

>> No.9101762

>how do i launder money

>> No.9101779

>>9100831
I want to pay taxes, I really don't mind
I want to cash out a large amount but have no trail for it

if I tell them I bought in 2010 they're going to ask for some proof that I even heard about bitcoin that year which I really can't prove

I can pay the IRS the money but then I won't be able to put it in the bank since no bank wants money originating from bitcoin

>> No.9101783
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9101783

>>9101732
>Mutt talking shit about the country that discovered America

>> No.9101803

>>9101783

Italians discovered America

>> No.9101849

>>9101803

Excuse me, Spanish kingdom and Spanish ships discovered America. Hell, even Columbus was probably Spanish.

And Portugal is a nice place and is doing great.

>> No.9101889

>>9099654
If you live in USA and need to take out 5M USD move to Puerto Rico for a year they don't have any cap gains tax and just cash it out through coinbase over the year.

>> No.9101897

>>9101849
Colombus was Portuguese under the king's secret services.

>> No.9101954

>>9101897
Pics or it didn't happen

>> No.9102037

>>9101700
I have some additional info. In Italy you pay 26% capital gains tax if you own more than 51k euro of bitcoins(or any alt, exchange rate of the first day of the year used for reference to calculate if you go over this limit if I'm not mistaken).
You pay only if you cash out and this concerns only private citizens, I have no idea how it is for companies.

>> No.9102077
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9102077

>>9101954
He was born anr raised in Madeira, and only took that "job" to take spaniards away into the Ocean, away from the real valuable discovery, India ,and it's spices.
He also named the cuban islands after Alentejo

>> No.9102368

>>9102037
Thanks, but is it not if you cash out over the limit in 7 days? And do you pay on the whole sum or just on the amount that goes over 51k?