How the fuck do I cash out?

take vacation to a tax haven, open bank account there, transfer money to it. Then spend it with a debit/credit card from them and slowly transfer money in.

He said he was running a casino. He was paid in coins. That is the definition of income you stupid ass mother fucker.

OP - what about the idea of leaving the coins in the account and paying for shit over time from there? Can you buy a car with bitcoins?

you are going to jail, kid.

why is localbitcoins so bad? i've sold bitcoins for a transfer of funds direct to my bank account.

I bet not.

If you claim it as income for running an online business, the gov't won't give a shit. They'll be glad to collect the taxes. There is no easy was for them to figure out exactly where the income came from.

It would have to be some sort of anti-gambling initiative that would find it. The IRS is not likely to see the detail unless you told them.

Don't fucking talk to a CPA - they are mandatory reporters now. Attorneys are not. You can tell them all kinds of "Better Call Saul" shit without worry.

And don't take the money overseas. That shit is over.

I'd say buy something like bars of gold, then keep those bars of gold in the bank. Buy it on a library computer while wearing a hoodie.

Change my life with less than a bitcoin
3Nyyo4uhFCMNokbwTPuR5D7PTvKCJG6US5

Congratulations with your success and good luck

Is this stored on Bitfinex?

You already fucked up.

It looks like coinbase.

Eitherway op has to get a lawyer and pay taxes now.

Unless this is all an elaborate plan to start a prison love affair.

Buy conterfit currency and use that to buy shit off people an then sell that shit to pawn shops/graglist
There you go

Actually it's kind of both. Revenue from the casino but also capital gains on the commodity (also fuck you gubbmit, this is my crypto REEE).

It's also illegal the way he did it, so he really has no option but doing it some other way. idk how.

Use bitcoin to buy conterfit money/black market drugs
Sell that in real life and use conterfit money to buy shit off junkies and sell that shit to pawn shops.

If he just pretends like he made that profit solely on appreciation in the value of bitcoin, he'll be fine. They have limited means to find out otherwise.

op already fucked up by letting all that money hit coinbase....

consult a lawyer/financial advisor/whoever the fuck

I don't agree. I think it is riskier to report it as cap gains because of what the underlying investment is. They don't see what your cost basis is for the coins and therefore could be auditing the shit out of anyone who declares cap gains on bitcoins.

Same old point - talk to an attorney OP.

what the fuck are you even talking about you fucking retard?

Retarded. Unless you're using some state of the art shit, counterfeits are dogshit and he'll get caught by the Secret Service.

Can anyone trace the casino back to you?

If no, then tumble in a dark wallet then sell in bulk and pay your taxes.
Claim capital gains from a speculative investment or some shit.

If yes, then tumble in a dark wallet to hold and sell small amounts over time.
As long as you are dealing in small enough amounts (sub 10k) then you wont even be on the radar.

Easy, I made couple of mil in btc, three years ago, but was about 15 at the time, 18 now, got a lawyer and we presented them as donations, and tole them at the time of the transactions it were worth a meme 100k.

nice

If it's coinbase who gives a fuck. They probably already told the government anyways

guys this is bait he's pretending to be stupid
let the only (You) he gets be mine

Just talk to a lawyer attorney client privilege they can't do shit unless they actually come after you

Good job.

/thread

this. It is 100% business income.

Lurking here because I would like to cashout my btc as well. I do not have as much.

I have coinbase and would like to minimize being taxed up the ass. I receive btc through gambling online.

all you rich fuckers I lost my 30 coins to MtGox and BTC24 and mr. hausdork.

please throw me some change I am literally a starving poor ass faggot from eastern europe.

Work my ass off for 25 bucks a day only to try paying off a mountain of debt. may God bless you

1PsrBh7FzAKiirMvqdRkCdgmGu3i5mxN41

>coinbase
oh oh

if you havent already dont send it to coinbase

just use gyft or something to get gift cards or find bitcoin atms

coinbase is sending out 1099 ks anyway

Get a wallet, cash out 1 btc every week on whatever site and live from it, invest some money every week too, claim cap gains from now on on taxes from the actual dollars you get into your account

This can't you just turn them into other cryptocurrencies and say you made the profits from investing/daytrading?
Like what can they tax you for that?

The law is still gray on BTC, and you might only pay funds on gains when you cash out depending on your gains.

More realistically: Like other anons here have said, hire an accountant and possibly a lawyer. No one can help you here.

Godspeed, user.

There are places where you can buy physical gold for Bitcoin, look it up. With gold you can always claim it was an inheritance when you sell it.

Is this a laugh at poorfags thread?
kys bois

Why are you so upset?

>200k "isn't much"

what universe are you living in?

mfw

It is much, but if you're planning to live off it for a while, it isn't much.

Invest the 200k in to goods. Find a wholesaler that deals in bitcoins then spend the year liquidating your stock at a profit

Are you sure you want to cash out on a dip?

He is just a salty nocoiner.

In any case, the fact that you are holding 200 BTC anywhere but locally shows you aren't very bright, so good luck.

Here you have it. Another weak hand selling at the bottom of the dip instead of buying more.

Put it all on black.

But seriously start looking into mutual funds, ETF's, and value investing.

yeah, that retard, he should really wait another eight years for bitcoin to go back up.

>inspect Element
do you actually think anyone here falls for this?

You probably don't even have a single BTC lmfao

OP roleplaying again lmfao. Deliver a signed message with a bitcoin address or you're a lying piece of shit.

0_0

lol.. I can do it too.

here comes that same desperate faggot who thinks everyone else must have missed out on bitcoin because he did

whats your threshold of believability? 100k? 30k?

and still I can't see a signed message.. more like you're mad because I blew your cover. Even if he had been intelligent enough to biy BTC back then, he wouldn't have been so stupid to put them all on Coinbase.

oh shit

lmfao also OP supposedly owns 197 BTC but doesn't have enough money for a notebook with a high res screen hahahahahaha

*shit it's actually a real screen. Welcome to 2012.

my cover for what? i agree op is a dumbfuck if he put it all on coinbase. chances are they have already got him down on some taxation shortlist with those figures. irs already trying to get those numbers out from coinbase by legal means so op has no choice but to go legally now, unless he didnt have that coinbase account under his real name.

but you keep saying you want a signed message, why dont you sign your bitcoin address first since it bothers you so much that no on else wants to? you clearly have/trade enough to bother getting verified on poloniex.

>coiners are this gullible of bait
buttcoin going to 0

have you had any trouble depositing/withdrawing usd from bitstamp? i thought they were based over in europe which made things more difficult than using gemini/gdax

Fuck off you e-begging nigger. No one gives a fuck about your sob story you lying faggot. Delete this post and then delete your life.

Keeping a half mill on an exchange, and not on a hardware wallet.

>why dont you sign your bitcoin address first since it bothers you so much that no on else wants to?
I'm not the one bragging about how many coins I have eh?.. but if I did I would deliver a signed message. Otherwise there wouldn't be a single reason to believe me.. especially not on this degenerate board.

if it was real whats actually scarier is that poloniex only gives him 25k withdrawal a day. their limited withdrawals are shady as fuck.

no one has to believe op, you seem to be the only person frustrated about how much money op has. for everyone else its useful information even if he is lying. he also never bragged, but keep projecting.

yeah I'm not verified there and only have 2k a day limits.
Imagine short term lending 580k

feels bad man, I need to get this out

send bitcoin to this address
16HgBoVjqaRpwHxdZaMPVZ3nku46aGN1NE

no.. I just know he's lying. Not only is he too young to have bought in into BTC at the right time but also no one with these amounts of BTC is retarded enough to keep that amount on an exchange. If he had bought in that early, he would never put his BTC on Coinbase because he would remember MtGox.. I could give you another 100 reasons why he's lying. You're probably a samefag lmao. OP is 19 years old lmfao. 98% of all guys who bought into BTC between 2009 and 2013 where at least 17y +.. I know this for a fact.

unverified account? i would make regular withdrawals of 900 to 1800 each day until its out. the real fear of poloniex is that they can just demand you verify your account or essentially steal all your money.

oh shit

yeah I was messing around trading alts but wasn't great at it, so I want to put it back in my trezor. sucks it's going to take like 20 days.

from the screenshot it looks like he just sent that money into coinbase judging by the transaction in the bottom left. he also didnt say he bought in he said he made a casino and got people to invest which is a completely different scenario, he only made 2 posts in this thread why not just read them?

im curious though, how much money do you have in crypto? since you seem so interested when others mention how much they have in themselves.

seems like you did alright unless you deposited 30 btc without realizing you could only take out 2 a day.

some people would be in your exact position if they just bought some of that pascal coin p&d shit. it seems like poloniex really just dont want people withdrawing all their money at once. fractional reserve maybe?

>he made a casino
Now I believe him even less. If he programmed a BTC Casino he would be familiar with all technical details of Bitcoin and most certainly not retarded enough to keep any of his BTC on Coinbase. He also would know how to mix and "launder" his BTC but I'm not getting into that now. Coinbase are one of the most shady motherfuckers in the business. Just face it, he's lying.

>im curious though, how much money do you have in crypto?
'bout tree fiddy

I started with 35 and just got sick of trading

>just face it
i honestly dont care enough to consider how likely it is. im more interested in why you're always so frustrated about the possibility of other people owning a lot of bitcoin.

its difficult to trade alts because they're 100% speculation. theyre good for riding pump and dumps but not much else. so you really have to constantly look for any tiny piece of news that "traders" are going to use as an excuse to cause another pump and dump event if you want to have any kind of luck. buying into new shitcoins when they get listed is a good bet though.

I'm frustrated about people lying on this board. If he delivered a signed message I wouldn say nothing but "cheers. good for you, mate!"

He could always say he had bitcoins lying around in a wallet somewhere and found them recently?

When coinbase does blockchain analysis and determines the coins were moved around consistently over the past 2 years, and then turns that over to the IRS

sometimes you just have to take someones word for it. id only be suspicious if someone was claiming to have 1000+ coins without a believable story.

they already have compliance software that checks around 2-3 transactions before and after coins pass through coinbase to check for known dug/gambling/exchange sites.

>If he programmed a BTC Casino he would be familiar with all technical details of Bitcoin

this stood out to me as well. his
blindspots in his knowledge of the system is surprising

well, use it to buy physical items, could be anything as long as you could re sell them for cash. Buy some physical gold or platinum, and then sell it in real life man to man for cash.

nvm I was talking out my ass, didn't realize you still need to pay tax if you buy something when your bitcoin increases in price.

the main problem with this is you still need to provide ID to websites where you can buy metal with btc. tax or not theres still a paper trail

on the topic of online wallets, why is blockchain no longer listed on the official recommended wallets?

So you can't just cash out bitcoin?

What the fuck is even the point? You coiners are morons.

90% of all coiners are degenerate gamblers. The other 10% rip the others off.

sure you can, it would be equally difficult to try and "cash out" 200k worth of gold or silver if you were concerned about taxes.

kek

>have 200 btc
>store it at an online exchange
seriously wtf man