In America, what’s a viable way to cash out of bitcoin while avoiding taxes?

In America, what’s a viable way to cash out of bitcoin while avoiding taxes?

Other urls found in this thread:

bitcointalk.org/index.php?topic=2637444.0
paxful.com/sell-bitcoin/bluebird-american-express
bitflur.com/paxful-verified/
twitter.com/AnonBabble

bitcointalk.org/index.php?topic=2637444.0

/thread

Hold for a year, sell, claim it as a long-term investment, pay 15% tax.

I don't think it's a good idea to avoid paying taxes on a form of currency that most people see is a way to skirt the law.

15% is a small price to pay compared to some sweeping IRS program designed at catch everyone who lied on their taxes using Bitcoin, a currency people used to buy illegal substances, other people,

>Buy bitcoin
>Sell for private cryptocurrency
>Get a drop
>Buy drugs, guns precious metal and gift cards
>Sell those
It isn't worth it

Just pay your taxes

Welp... looks like we've arrived at this point again. Where another poor soul finally realizes that crypto is a scam because you can't cash out.

You LITERALLY can't fucking cash out. Seriously, try it.
You wasted all your money on internet bucks. There is no way to convert it back to fiat.
All those "exchanges" that claim to deposit your money into your bank?
Those are scams, the deposit never goes through.
All those people saying it isn't a scam? They're shills for the scam "exchanges."

Anyone who tries to refute this post is a scammer shilling for scammy exchanges.

step one is to post about it online

Nah there’s actually ways to do it

Paxful is my favorite

hahaha, let me ask you a question, HAVE YOU TRIED to cash out? at least ONE fucking time?
If you haven't go and see for yourself.
There's plenty of people on the internet already realizing it, that it's all a sham, and this shit is going to explode at any time.
Consider all your investment a loss and just start investing in REAL things instead of "muh digital assets".
Don't say I didn't warn you.

I literally have been cashing out all year. What are you going on about?

you are trying too hard to become the new Canada

I literally cashed out yesterday.

posted from my Mac Air

I get deposits into my debit card all the time

no bank connection.prepaid bluebird

Go ask your local synagogue.

You guys are fucking nuts if you think there aren't SERIOUS issues cashing out major crypto money.

I went in hard to ETH last year and made over $700k. Not only was paying the taxes a complete clusterfuckx but the moment I filed and sent the checks I got hit with an IRS audit. Then three visits and counting from FBI guys.

Yes, I used a professional CPA. I'm now paying lawyer fees out the yinyang and the FBI is combing through every nook and cranny of my life. They think anything related to crypto is drug money or laundering.

God help you if you're trying to cash out six figure gains. You can't even enjoy them without fearing pound me in the ass prison.

It isn't even worth it if you aren't cashing out at least $100k. Crypto is automatically criminal in the eyes of the Feds and you will spend that much in lawyer fees on top or your taxes just to walk away free.

find local buyers with Electrum

you can exchange your bitcoins for slaves, then exchange your slaves for cash

dude I cashed out 2000€ via bitcoin.de two days ago

This is only good for cashing out small amounts

What about larger amounts like $100k?

*Mycelium

yeah right, let me tell you a story

>be me
>be thanksgiving, family all laughing and joking, asking me when Im going to get a job or even pay rent
>tell them im actually a successful crypto trader, its been going so well i recently became a millionaire
>they all laugh
>show them my blockfolio
>i try to explain bitcoin
>uncle downloads blockfolio, types in 1,000 bitcoin, starts showing it around saying hes a crypto millionaire too
>everyones laughing
>tell them its true and i can withdraw from a bitcoin atm
>convince my family to take me to nearest bitcoin atm, 2 hours away
>they wanted to go to this city anyways for shopping, tell them ill buy some gifts for christmas
>arrive at atm
>atm only allows you to buy bitcoin, not sell it
>family getting impatient
>"enough user, your joke is going too far, lets just go to the mall now"
>i ask the convenience store clerk how do I sell with the atm?
>he doesnt know what im talking about, "only buy, you buy here"
>aunt goes up to the atm with a $20 and pretends it came out, look user, I sold my byte coins, how come you cant sell yours?
>everyones laughing as they head back to the car

im fucking done, you guys are worse than /b/, idk how you got this scam so big in the first place

Just pay the fucking taxes on it, your gains are massive anyways unless you just bought in

>try to cash out
>Coinbase freezes my account, doesn't reply to calls or emails
>OK still have 70% of my porfolio on another exchange
>eventually cash out with massive bullshit and fees
>few days later,bank freezes my account
>IRS at the door
>tax evasion
>charges linked to some silk road transactions i made years ago they linked my wallet to

Holy shit guys its true, you can't cash out, I wish I never even got into crypto plz kill me

This nigga gets it

This is the first suggestion in Google search. People have been on it since the beginning. Crypto is a fucking SCAM and you ALL fell for it. Fucking retards, you REALLY thought you could make it flipping INTERNET MONEY? fucking KEK

how do you set up something like this? been looking into buying eth and want to set up something like this, but like the other user is saying, i've heard it's hard as fuck to cash out.

glad someone here has a fucking mind

you are incorrect and shame on you for writing a post without knowing the fuck you're talking sbout

t. coin trader

The IRS is the last government agency I would fuck with. They are EXTREMELY thorough and have unlimited resources at their disposal to make the process exceptionally long, drawn out, and prohibitively expensive to you. PLUS, once you get on that audit list, you get harassed for years to come.

My buddy has been audited 3 times in the last 5 tax years. Paid owed taxes and fine, paid nothing (he was right), and still waiting to hear the outcome. It has put him under massive stress and cost him significant amounts of money and time. Not worth fucking with them to save a few bucks.

what’s paxful
what’s bitflur
how and how

LARPing this hard...

Kill Yourself.

I cashed out like $10k+ worth in 2013 with coinbase. But you never know they might have issues with cashing out bigger amouns

t. exchange shill

Those are Veeky Forums memes friendo

t. exchange shills

paxful.com/sell-bitcoin/bluebird-american-express

Paxful is great.

bitflur.com/paxful-verified/

BitFlur is just a service from a bunch of Paxful niggers.

Are you one of the individuals listed in Trump's executive order to freeze all assets belonging to extreme human rights abusers?

dont have a good feeling about it

as long as people are buying crypto with USD you can sell crypto with USD

sell in bulk with 10% discount, get a lawyer and a few witnesses

>newfag

I cashed out 16k yesterday. already in my bank account. Please do tell me how I can't cash out.

I hate paxful but I'll give this delicious other thing a try

FUD detected

I would talk to my banker and throw him 5% to make the bank allow that much to be deposited in. Relationships are everything, make them and use them.

this
the banks, tax authorities, everyone will treat you as a criminal and money launderer

which is why you don't cash out, fuck those assholes and their stupid regulation bullshit

kek try 160k

This guy must work for the exchanges. They have thousands of agents that lurk on forums. They have a dark network that controls the media and all the world leaders.

Why not just find some fool on craigslist willing to buy your bitcoins for cash? you can even make it out so you convince him you are doing him a favor. Easy money, no state involved.

you could probably do a little at a time

otherwise consider moving to a friendlier country that doesn't treat the taxpayers as criminals

I cashed out 50k yesterday. The problem isn't cashing out, it's getting ass-raped by capital gains tax. There is going to be a reckoning when tax season comes around

All the replies to this post are shills

Okay, listen up newfags and normies. The best way to avoid paying taxes on bitcoin in the usa is to be a NEET. I'm not even joking. If you've held your Bitcoin for over a year, or at least it can't be proven that you've held them for less than a year, and you don't have a job or a form of income, then you qualify for being in the 15% and under income tax bracket which means your long term capital gains tax rate is 0%. Enjoy those gainz, anons

>paying taxes in the year 2010 + 7

Nice copypasta. Cashed 2500€ yesterday, 1500€ today.

>Not only was paying the taxes a complete clusterfuckx but the moment I filed and sent the checks I got hit with an IRS audit. Then three visits and counting from FBI guys.
This boomer of a guy unironically declared his crpyto gains

>roger ver has deposited .00000001 bcash to your wallet for this post

I've cashed out 3 times on coinbase.

I mean I owe a shitton of tax for 2017 but yeah I have cashed out.

Also you are a faggot

I saw this same story 2 months ago.

just pay them!!! or move and never come back. two options.

>believing crypto is a scam
>hanging out on a now all-crypto board

Sure buddy

I have a question. Is there anyway to purchase crypto using paypal?

I come here because leddit crypto is cancer, but let's not pretend like the overwhelming majority of threads on Veeky Forums aren't de facto pyramide type shill threads.

kill yourself

Lol, Bitcoin bagholder using reverse psychology to get people to hold their coins.