If I want to cah out btc, can I just send my btc to someone I know and have them cash out for free?

if I want to cah out btc, can I just send my btc to someone I know and have them cash out for free?

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en.wikipedia.org/wiki/Gift_tax_in_the_United_States
twitter.com/AnonBabble

Sure, send it to me. I'll cash it out for you.

Yes. Though probably best to do that in person, I mean atleast until Confido is up and running.

I'm pretty sure that's money laundering, just like using a BTC wallet to buy gift cards.

Depends on the scale of operation. Don't know how it is in the Land of the Free, but in my country, if you operate with sums smaller than $5000 (rought estimate), you may avoid paying the tax and have no problems.
But if the sum is very large, that friend will have to declare, where his money went. Or he can simply backstab you.

If I made £50000 on crypto in BTC, can I send £50000 worth of BTC to my mum and have her cash out free of tax then send the money from her bank account to mine?

No, tax police will come to her and ask, what did she spend the cash on. And why haven't taxes been paid.

Is there any reason why I couldn't give my friend 1 btc as a birthday present, they then sell it (and since they paid nothing for it, no taxes), and then they give me cash for my birthday?

Illegal as fuck
Enjoy prison

This is fraudulent, I believe. In Russia you are going to have alot of trouble if you blatantly perform this operation.
People come for you with soldering iron and nailgun. I'm not joking.

Luckily I'm a burger. I think there's nothing they can do here against tacit collusion.

Theres gift tax, actually

1 can i have some bitcoin
2 do it locally in person with someone local bitcoins is your best option if you can get a cash option that is preferred, avoid going to prison

The system is far more advanced, though. You think you'll get out clean? Everything must be thought out. At least I believe that your country is better than dark age tyranny that we have here.

Fuck this gay world! Stop treading on me, reeeeeeeeee

en.wikipedia.org/wiki/Gift_tax_in_the_United_States
Land of the Free, indeed.

I'm not sure how it applies to this specific situation, but in antitrust law, overt collusion is when ppl sit down and agree to terms, but tacit collusion is when no one openly colludes, but there is a common understanding. For example, back in the day general motors would announce their new cars and prices, then the other manufacturers would fall into line with similar prices.

1. Go to localbitcoins.com
2. Find a highly rated, reputable trader in your area
3. Meet him at Starbucks, exchange bitcoin for cold hard cash

100% anonymous

Then again, you might need to prove that it was not an alleged collusion (or whatever the correct term is). Legal system is kind of fucked up in USA (it is many more times fucked up in Russia, though). You will need to pay for a lawyer.

i would just listen to us op, your going to end up paying capital gains tax and maybe end up in prison or jail, if you dont do it correctly.

He doesn't want to pay arbitrage fees.

Ditchit.IO

Las Vegas based

Launching in 20 days

paying capital gains ((tax)) is way worse then fees from a dip shit

I'm not in this criminal dirty thing with OP. And what if (they) know that you have cashed out? Doesn't your government monitor your every step?