Ok, lets say you guys made money, 200K - 1 million from your Crypto

Selling through local bitcoins then buy everything with just the cash for the rest of your life or offshore bank accounts. If you've made enough, move out of the country.

Or just fucking lie if the money is small enough. Say it's a gift or you found it ffs it doesn't matter if it's small.

Or simply buy in through Coinbase but cash out through Tether. Maybe you have to pay "gift tax" it doesn't really fucking matter.

You can do

Send it to me. I live in a fiscal paradise, so in a matter of days you will have a credit card with 95% of your money. You will be listed a consultant working for my company.
>Its not a crime to use company money for personal uses here
So even if you go full retard burning the card in less than a week, IRS can't persecute you nor link the company assets and funds as your initial money.

My gains? The 5%.

[email protected]

some guy on here bought 9.8mil xby about a month ago and showed a screenshot of his wallet

if he held he has over $350,000

I live with my parents and I don't know how tax works

help

How much are you taxed on your earnings if you live in a no income tax state?

Do you just pay whatever the federal bracket you fall under, or are you taxed for every transaction you make?

Also, how much does it cost to exchange your BTC to USD?

Who's the cheapest?

Not looking to fuck the taxman, don't want that trouble, but don't want to get fucked in fees.

Anyone know?

I know Finland isn't in Scandinavia but just to let all the Finns here know: Crypto gains are NOT tax free in Finland.

>locate Bitcoin ATM
>Get cash for bitcoins
>Buy Amazon gift cards with cash

yeah but the problem is you have to live in Scandinavia. Yuck.

>200k-1 mil on yoshit

WEW. Don't leave it on there too long or you'll be paying for blacksmiths new lambo.

Do you honestly think someone will just give you 100,000$ worth of crypto?

Kyllä ovat t. oikis

vero.fi/fi-FI/Syventavat_veroohjeet/Verohallinnon_ohjeet/2013/Virtuaalivaluuttojen_tuloverotus(28450)

That range is my long term goal. When I accomplish this I will first pay my exit tax and renounce us citizenship. Then take my tax free gains to a less Jewish country

Get your local HSBC to set you up with their HSBC branch in the carribeans, sell crypto at a reputable otc broker, send proceeds to new bank account. Spending your loot back home would be another issue though.

> I can do a monthly transfer under $10k without alarms going off.

hahahahah no.

that's called structuring and banks have methods setup to detect that too. theyre just not as obvious as the usual "sirens go off as soon as you depsoit >$10k" check that everyone knows about

youll do hard time for structuring if you get caught.

remember the creationist kent hovind? he did 10 years in prison for doing exactly what you described.

I figure the "right" reply changes from country to country.
For me, I asked my accountant how I could avoid as much tax as possible, and he told me to create a bunch of...I don't know how you call them abroad, but it's basically a bank account, only it's not with a bank, but with the national postal service.

To make one of those account you only need to show an ID, and they're not networked with eachother. As long as each one doesn't go past the 'danger' limit of around 30k yearly, I'm fine.

I know what I'll be doing as soon as I need to pay out. Thanks, dear Scandinavian.

If I made a million from crypto, I would have no problem giving uncle Sam his 15% for capital gains. Don't need that trouble plus, its $850k that I didn't have before just for being in the right place at the right time.

I cash them out using CHIP CHAP

I use bitso, but I´m from mexico, it goes directly into my bank account thanks to the marvels of bank of mexico without huge fees nor taxes

Literally this. Also, see this thread for very, very, VERY serious news about crypto's future: This is no fucking joke.

It's hard to cash large quantities of this stuff out now, and it's only going to get worse.

Notice how every thread asking how you'd cash out more than a few thousand at a time just gets replies that are like a bunch of deer in the headlights.

It's because no one has done it. You literally can't. And even the legit exchanges like Coinbase only allow you to sell like $10K per week. That means it would take you six months to cash out a million in earnings, assuming you use multiple exchanges, and you'd be subject to all the volatility of prices and legal chances in the meantime.

It's time to consolidate, start getting out, or never put more than very, very low five figures into this. And only if you can absolutely afford to lose it.

sauce? swedefag here and my heart cant take this trolling

i don't know I currently have $12 in RDD, $5 in POSW, and $8 in ETH

The smart play is to build up BTC until you are happy with your average weekly earning then pull out your couple of grand a week and put it into traditional investments. This way you can still trade and profit while building a backup plan.
You can also get a crypto smart card to pay your general living costs like food, fuel and bills allowing you to invest fiat you would normally spend.

Where do you live? do you live close to the border?

I'm not a US citizen so technically it's not illegal or as difficult for me if I had to, hypothetically.

I'm going for the open the bank account in the Caribbean/Scandinavia and sending it to myself as a gift. I'm not sure how to convert your ETH to dollars and send it to your bank overseas. I'm guessing Coinbase does it but with 10k/week limitations.

Perhaps buying gold where they accept BTC, then selling it

I would not be happy paying taxes ojy gains, hypothetically.

Wtf are you talking about? Kraken tier 4 allows for $500k withdrawals per month, and you can use other exchanges too if you need more.

No one uses Coinbase for big withdrawals lmao.

Just pay the tax. Would you really gamble that much money for prison?