What are we going to do when we have 10M in the bank?

What are we going to do when we have 10M in the bank?

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realize that you are still depressed, only in your villa with a lambo in the driveway and that people like you only bcos of your money
I came to peace with it a long time ago

Have you seen There Will Be Blood, OP?

Put a certain percentage into money-growing investments and then begin construction of the prepper bunker/farm complex and buy shitloads of weapons and ammo.

ive already made actual plans. Im going to be responsible with money (says guy who is basically gambling) not interested in a lambo. i gonna be a frugal jew. got a girl in love with me while im still a poor fag so ill cling on to her for dear life in hope that she sticks around and Ill know she loves me for me (and my money)

Sounds like future me if I make it, house by myself with lambo. People only interact with me once they find out I have money.

How do you plan on cashing out exactly? Or by bank do you mean Bitcoin wallet? I heard you can’t cash out

Realize the happiness is a bubble then invest in tragedy and a fast life.

Girls, drugs, traveling pretty much anything you want

I'm going to become the favorite child and pay for my parents debt
Then I'll start FUDing my siblings while also helping them for fun

That's the dream

Or I'll put my dog down and become a hermit who reads Whatever Happened to Justice repeatedly.

...

>I heard you can’t cash out
WHAT

Basically this for me. It's coming...the collapse is coming. I've got a small start now with about $500 in canned goods, 2000 rounds of 5.56, an AR, and a .45.

move to New England and not worry about life

Good lad. I don't understand people who think that becoming a crypto playboy is a good idea when they are in a unique position to build a foundation for survival in the coming collapse

conspiracy theory loons pls go

Don't come here. It's too chilly.

Imagine an election like 2016
Just with NEETs having millions to their name.

Scary thought actually

I want cold and I want to move back to where I was born
t. Nutmegger stuck in the sweltering hellhole of Florida

It's not even a conspiracy, it's just common sense if you look at historical cycles of civilization.

The power grid getting blown out by the sun or nukes alone is reason enough to prepare.

>OH LOOK OUT user THE NUKES ARE COMING
the nukes never came during the Cold War what makes you think they'd come now?

I'm banking on the sun as the culprit. Google the Carrington Event, then realize that the only thing they had to lose at that point was the telegraph system.

he's right, you dont realise how impossible it actually is until you start looking into it

it's just a dumb meme user
if Coinbase didn't let you cash out you could sue them

it's pretty easy if you use normie base

do you know what a solar flare is?

>neets
no neets have that kind of money invested. you don't get rich by doing nothing and cryptocurrency is no different

If you have at least six figures and don't have a couple grand in SHTF assets like bullets, guns, heirloom seeds, and liquor then you're a fool. That's practically nothing to set you up to have a huge edge if a black swan event actually occurs, just don't fall for the gold meme.

Travel to exotic places and stick my wiener in exotic women.

Easy.

>liquor
the fuck i'd want liquor for? stock up on water

Imagine Veeky Forumstards pumping billion dollar shitcoins.

Luxury barter item, liquor and cigarettes would both be good but liquor keeps better.

>Not toilet paper
BUY LOW

probably have it seized by some government agency... maybe irs, or maybe the fbi will make up some charges against you or something.

Being this newb. You possess items you can trade. Liquor being one of the most sought after substances.

I'd rather be depressed and rich than depressed and poor.

Whales are mostly meet
Mine with computer for btc
Now worth 6 jigglbillion

I'll probably blow it all on hookers, coke and scam ICO's.

My dream life:

>Accumulate wealth up to 200k
>Move out of my townhouse, rent it out to someone
>Use rental income to pay on existing mortgage
>Funnel excess income into more BTC
>Move into smoky mountains and get mortgage on log cabin
>Find some part time work from home gig
>Use that money to pay the mortgage
>Sit on crypto
>Be lonely, but at least not lonely in my current midwestern state

I don't care about cars or having the fanciest stuff. I grew up in a trailer and have pulled myself out of the lower class.

You can buy an hour with a 16 year old girl in the philipines for 500 pesos.

That's 5 minutes of fucking and 55 minutes of pretending you're back in high school cuddling with a 16 year old and still innocent.

>Move into smoky mountains and get mortgage on log cabin
beta can't build his own cabin. the absolute state of /biz

>put money in stock ETFs and other assets
>live off dividends/interests and reinvest the rest
>live comfy in my own minimalistic apartment
>drive a "normal" car like VW Polo
>cook everyday healthy stuff with milk, eggs and meat from a farm near me
>train at least 3 times a week
>bang as much chicks as I can
>enjoy each day because I know I'm free and don't need a fucking wageslave job anymore
>read more
>meet more people

There are so many things that'd change if I only had enough money. Fuck.

I DON'T KNOW HOW AND I'D RATHER PAY SOMEONE ELSE THAN MESS IT UP REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

I agree. Crypto is going to accelerate the process also. People are so scared of what mechanical automation will do to the blue collar job markets; just imagine what Smart Contracts will do to White Collars. Going to be the biggest job shortage ever. Millions of once well paid officers workers needing to sell their homes suddenly. Collapse.

Nailed it

>>train at least 3 times a week

*exercise

people.uncw.edu/kozloffm/glubb.pdf
The Fate of Empires
By Sir John Bagut Glubb

>implying I want to survive by any chance

can we anons all get along like before? Actually work together to make great trades and investments instead of the pure schilling that goes on here? Make sure we can do something good for the world instead of let these greedy normies be our neighbors in 3 years? Please anons , it is time the forces join and Veeky Forums takes control. Gotta give back to Veeky Forums. Love you all. Meditate and vaporize for good body mind and spirit. Fapping off is good for cardio

>because it didn't happen in the past means it can never happen

This is what we autists fight for. Literally the dream.

well at least you can't cash out !

sit on Veeky Forums like I always do

this meme needs to die. I've cashed out $30k this summer through ACH transfers and bank wires with zero problems, and gemini has no limits on wire transfers. the only people this would be true for is probably the people who live in 3rd world dictatorships. any normal person in a developed nation will have zero problems getting verified on a fiat exchange (ie: not bitfinex) and cashing out.

how much can you send from (((Coinbase))) to a major bank like chase without making preparations?

I'm gonna buy a castle, drink a lot of wine and blast classical music throughout the corridors while I drive myself insane from loneliness

any amount assuming you plan on paying your taxes. my gemini limit started at like 10k for ACH withdrawals, but was raised to 100k, and is unlimited for wires.

I'm also a bankfag. banks document and report all large or suspicious deposits (cash or electronic and it can be under 10k too), but as long as you are paying your taxes and not money laundering they don't give a fuck.

Worldwide inflation. You won't do shit.

Are you American? How much do you have to pay in taxes on crypto cash outs?

Is going to eliminate my parents debt, improve their house, give money for my father to increase his work count for his business. I’m going to buy some land and set money aside to build a house. I’ll Put the rest back into crypto and see if I can find a way to stay safe during the crypto fiat war that’s imminent

Also I’ll still go to work, I like my job being a humble gardener. Top thing to do when people have money to retire.

Fiat will collapse and you will have 0, meanwhile BTC holders will be barons of the free world.

has your mom filed your taxes for you your whole life user?

No, I'm just poor and have never had to pay taxes on large investment winnings. I don't even know if crypto cash outs are taxed as capital gains

short term is taxed at your income tax rate (exactly the same as your paycheck is taxed), and long term is 15%.

so I started the year with an 80k W-2 job in the 25% bracket, then with cryptos my W-2 + short term gains + long term gains pushed me to over 100k taxable income, in the 28% bracket.

so both my W-2 income and short term gains are now taxed at the 28% bracket and long term gains at 15%, I already had to cough up $4k in Q3 for an estimated tax payment for 2017.

If I sold the rest of my ETH (around $125k), that would push me well into the 33% bracket so my W-2 and short term would be taxed at 33%, and the long term at 15%.

Thanks. So since I'm a poor wagecuck my short term gains would only be taxed at 15%.

yes. the IRS is treating all virtual currencies as property, so all sales are taxable - that includes buying things with crypto like a cup of coffee or coin to coin trades. so you can also claim capital losses too if you are a bad trader. the people who say you only pay taxes when you cash out are going to be anally devastated during their IRS audits.

>the people who say you only pay taxes when you cash out are going to be anally devastated during their IRS audits.
that's how it works here in Canada with the CRA

I believe that also puts you in the 0% long term gain tax rate because you are in the 10-15% income bracket, so there's one perk for you.

this is why Veeky Forums needs flags

It's good to be poor

most people tend to post in their responses what country they're from if not the US.
I'd rather have that then half the thread devolve into /int/ shitposting

Now are those taxes only applicable to $10,000+ cash outs? Theoretically I could sit on my stack and withdraw it slowly while paying 0% long term gain tax?

the rate is not determined by individual cash outs, but by your adjusted gross income. regular income, short term gains, and long term gains are all included in your adjusted gross income, so if that stays under $37,950 for the whole year, the long term tax rate will stay at 0%. at $37,951 it will be 15%.

>historical cycles
>fate of empires