SHITCOIN /rich/

Is anyone here actually rich ($2MM+) from Bitcoin or other coins?

Did you cash out or are you keeping it in crypto?

How much of a pain in the ass was it to avoid/minimize the IRS getting their greedy hands on your money?

>irs detected

i threw away a few hdd's 2010 and one of them had around 4000btc.
>feelsgoodman.png

kek

I'm just looking for experience/info on how to cash shit out safely.

There are so many stories of people doing that I wonder how many Bitcoins have been removed from circulation forever.

>2MM
>MM
Mass Miles?

MM is just a standard way of saying million because some shit countries have a wrong definition of what a million is.

M = 1000
MM = 1000 * 1000

M = million
MM = 1e12 aka quadrillion

Why not K (1000) and KK (1000*1000)
I've never heard of M being 1000
>Then KKK for a billion

Roman numerals, but MM is standard financial shit.

No, only 1.4 mil here, still poor. Hope to be rich one day

>started with 10k
>made about 200k off of crypto
>transfer about 700 worth of crypto every month to my bank account to pay for rent/phone bill etc
>take out whatever further amounts I need in cash at BTC ATM
ezpz, No IRS yet

Is crypto really that profitable, or are penny stocks better?

Won't your bank get suspicious after a while noticing all of the money coming in? Withdrawing small amount can fend off the IRS but you bank will know the total amount received.

vcGcvex

DELTA-V is recruiting. Join or become a pink wojak

How much is enough for you?
I've been thinking the same.
10 million would be best

$8400 per year is almost nothing though. I'm not expecting them to get suspicious even if they did notice it.

thats around 1% of 1% of the entire crypto market cap as of right now. thats a sexy number to be at.

That's the point, I'm talking about withdrawing large sums of money, and the safest way to go about it.

Don't they have bitcurrency ATMs in places?
Why is getting money an issue?

ATMs normally have 5%+ markup and you cant withdraw large amounts of money from them. And even if you could its in cash you still have to deposit it into a bank somehow and then we're back to the original issue.

I don't think anyone is crazy enough to try to withdraw hundreds of thousands of dollars using Bitcoin ATM machines.

It's more like 0.001% of entire crypto market (100 billion)

>I don't think anyone is crazy enough to try to withdraw hundreds of thousands of dollars using Bitcoin ATM machines.
There are legitimate uses of that much money though..
If you don't use cash in hand, why would huge amount of money flow be that suspicious?
If you made the money in arbitrage, etc, then what is the problem?

Unless you make money selling drugs that is :^)

0.001% would be 1 million.

The point is having a bunch of cash is not useful, you want money in a bank that can be used for things, and getting it in a bank is generally painful for large amounts.

Then... use it?
Make a business..

Do something with your life.

If i want to cash out a large amount (50k+) what is the best way to get it into my bank account without authorities sniffing around? I can travel and have an EU passport if that helps.

I want to keep every single cent I earned.

Offshore shell corporations in trust.

Have you tried to start a business using only cryptocurrencies as assets? Petty much any expense is going to need to be paid in dollars.

You'd need a proxy asset to use yes.
But it's possible.

By lots of olive oil?
Then sell in the country of where ever you want to obtain currency in?

Hang on, isn't there a currency that can be used to deliver gold?

How did you make that money? Altcoins or just holding btc?

> some shit countries have a wrong definition of what a million is
Billion it is. Billion is either million^2 or million*1000.
Million is universal.

That's 20x, Ethereum had a 20x earlier this year, so it could have been from that.

Yeah you're right, I got them mixed up.

This, please enlighten us senpai. Also do you day trade or have a full time job or study.

My guess is "business".