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/biz/ - Business & Finance

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9134121 No.9134121 [Reply] [Original]

Broke 1M$ today for the first time. Had to share it with you guys. Started last summer with 10K$. Listened to some of you, worked hard, did my research. Not planning on cashing out since I expect the market to easily 4x until the end of the year.

>> No.9134148

>>9134121
don't be stupid, cash out half

>> No.9134152

Just cash out 1/5 or 1/4.

>> No.9134166

unless this is all play money to you, take at least 10% out
there's hardly a difference between 3M6 and 4M, but there's one hell of a difference between 0 and 100k

>> No.9134173

>>9134121
cash out 250k, buy a house, make sure to have some passive income in case shit hits the fan.

>> No.9134189

>>9134121
What were your big winners? EOS? Mirin and jelly. Started with $30k last summer and only at $220k now.

>> No.9134208

>>9134148
>>9134152
>just trigger a massive capital gains event
fucking retards
hodl now op. don't trade anything that can be linked back to your person (id requirements etc). wait a year for the 50% capital gains discount, then take care of any tax obligations and get a residency in a crypto friendly, low/no capital gains tax country.
if you think a 4x is coming (i think you're right btw), the only thing you gain by trading is higher liability.

>> No.9134248

Seriosly congrats on this.

Btw, what are you largest bags?

>> No.9134253

>>9134148
i he made it through the last 3 month, he should just ride the next bullwave to 100k

>> No.9134263

>>9134208
This.

We're in May, you have time. Cash out 20K to fund your opex and move to Portugal (on paper) *now*. Set up fiscal residency there.

Use private brokers in privacy friendly countries + OTC markets.

Shill:

Throw a few 10s thousands at Mobius, I think it will 10x.


Godspeed anon! GODSPEED

>> No.9134271

>>9134121
>worked hard

Doing what?

Also, congrats OP (srs) but yes unless this money means nothing to you, take some profits if you haven't already. I know it's the hardest thing to do, but when (not if) everything tanks again, you will be very glad you did.

Where I live 1/6th of that is enough to set me up for life with guaranteed passive income, and that would really be helpful for anyone.

>> No.9134274
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9134274

>>9134208
>hodl

>> No.9134280

good shit op. now work for that 10m. the ride never ends

>> No.9134292
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9134292

good luck cashing out kukkold

>> No.9134308

Awesome man... keep it rolling

>> No.9134312
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9134312

>>9134208
>>9134263
>Think they are smarter than the government

Cash out ASAP, OP.
Paying capital gains with money you have before the crash and not getting convicted is better than needing to pay capital gains with money you do not have anymore for profits you had in the past and getting convicted for tax evasion.

Speak after me:
With less than 50 million, you are not able to prevent taxes in a sufficient manner.
With less than 50 million, you are not able to prevent taxes in a sufficient manner.
With less than 50 million, you are not able to prevent taxes in a sufficient manner.

>> No.9134329

>>9134312

>Have 48 million
>Oh shit it's not 50 million might as well become a full bootlicker.

>> No.9134353

>>9134148

Don't be stupid, bitcoin cash half your portolio

>> No.9134388

>>9134271
>

where the fuck do you live?

>> No.9134392

>>9134121
Fuckin congrats OP. Good to know people here are still making it. I started with 2500 in September and up to 170k now. Wanna be like you someday

>> No.9134408

>>9134329
>not getting the point

You need a substantial amount of legal advisors and infrastructure to be able to circumvent taxes in a way, that does not fuck you in the next years. The whole "move to another country lol"-idiots have no idea what they are talking about.

And yes, it is also possible with about 30-40 million or even 20, when the people give you a discount and you live in the right area. In russia, all you need to do is pay the right people, which still leaves you to pay about ~10-15% of what you made in bribes. And then, you need to fear that they come around and fuck you in the next years for tax evasion, because your uncle said anything bad against uncle Putin.

With low digit doube million or single digit, you might as well can pay your taxes, as they are almost always less costly than the professionals being able to do this.

>> No.9134410
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9134410

>>9134312
>you need 50MM to set up offshore trusts, llcs, foundations or bank accounts

>> No.9134417

>>9134312
Fuck off.

Moving to another country and establishing tax residency there is legal and fine. Most people don't have that luxury because their residency is tied to their source of income, that's not the case here.

OP will pay taxes to the Portugese gov, it's just that for cryptoassets the bill will be 0. Or very close to that.

Besides, you almost never go to jail for not paying taxes unless you have embezzled money or are a repeated offender doing that for large organizational accounts.

Finally... quit thinking tax agencies are somehow exempt of the pervasive incompetence present in other government agencies. Tax agencies are filled with lazy and dumb bureaucrats who will ignore anything that their stupid blue book doesn't explain how to investigate. They have extremely limited bandwidth and just take advantage of urban myths like those you are perpetuating.

>> No.9134440

all this tax talk is pointless, rich people would kill to have huge portions of their money in crypto because it means they dont have to pay shit for taxes. its only going to get easier to cash out of crypto evading taxes, but increasingly harder to get into crypto with large quantities of money and evade suspicion

>> No.9134472
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9134472

>>9134417
>that's not the case here.
It is one fucking million.

One
fucking
million

Not a billion, not 100 million, not even ten million.
One million.

>>9134417
>Tax agencies are filled with lazy and dumb bureaucrats
The bureaus for the average pleb is. You clearly never even talked to the people handling the big cases. Stop talking about stuff you do not understand and read about on twitter or the average tinfoil-blog.

>> No.9134500

>>9134440
This. Capital flights is the killer app

>> No.9134514

>>9134472
Haha you're such a faggot, I'm glad I called you out on your shit.

>> No.9134525

>>9134410
>you need 50MM to set up offshore trusts, llcs, foundations or bank accounts
HIDING money is not even remotely a problem.

It is making the money spendable for you in a way, that nobody asks questions. Which you do either by going full apeshit illegal or using grey areas tailored around your specific case. The first one is not possible without a bigger amount of money and a certain amount of time and the second one involves expensive professionals.

Which brings me back to why the people posting here are sovereign citizen-level retarded. Because even cashing out one million without the gov realizing is quite hard most the time.

>> No.9134534
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9134534

>>9134514
You never posted any substantial amount of information or argument.

>> No.9134563

>>9134534
I'm not going to waste time arguing with you, I have given the leads OP need. I will leave it to the crowd to decide whom to listen to.

>> No.9134665

>>9134563
OP has three options:
a) listening to dangerous half-knowledge that likely still lead to charges of tax evasion. In amounts, that are substantial enough, to lead to jail in many countries on top of punishing it by adding extreme interest on the taxes to be paid and fines on top of needing to pay the taxes at the end of the day (extreme bad idea)

b) paying what OP needs to pay in taxes without consulting a professional (bad idea)

c) go to a professional within his jurisdiction and ask him what to do with the money to minimize the taxes he needs to pay (good idea)

These are your options, OP - do not chose a), for your own sake.

>> No.9134694

>>9134665
Because
d) going to a professional who then circumvents the taxing process with e.g. a double irish
is more expensive to do with just a million. Better pay the taxes and be happy with it.

>> No.9134733

>cashing out close to the bottom
Christ, the state of these teenagers on biz

>> No.9134744
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9134744

I can't believe you guys are slap fighting over this