RIP CRYPTO

What you want, what, whatcha gonna do?

When the president gon come for you?

ATO has a cap gains tax too, but dunno if it applies to every trade. Theyre still too stupid to even realize what crypto is. Monopoly gambling still safe in australia.

We need to get all the big whales together so we can reclaim some land in the pacific there somewhere out in international waters and start our own fuckin country and tell these cunts to get fucked.

Talking. Like. This. Makes. You. A. Fuckin. Yank.

Here, tax this.

im calling bullshit nigger, how are you going to subpoena an international exchange for anonymous transaction records whose funds were imported and exported to and from anonymous wallets whose funds were transferred in anonymous amounts.
pro tip: you can't
all you can do is tax it as capital gains when it becomes USD which is fair.

The IRS has supercomputers with software that can scan the crypto blockchains. They will know every buy/sell order you've every made on every cryptocurrency.

>mfw people are calculating my taxes on WoW gold to health potions

feels good not to be american

>implying they won't just have some guys write an computer algorithm to do it for them

DECLARE YOURSELF AS A BUSINESS YOU FUCKING CAPITALISTS

tax my 99% confido losses nigger

Let's go to some African shithole and take it over. Like Namibia for example, which has a pop of ~4 million, amongst them a couple hundred thousand white people. It's the size of California and has access to the Atlantic.

>hire crypto autist
>force all exchange offering services in the USA to submit data
>REKT

so when i trade 50k gold for some stupid fucking mount on a private wow server how much in taxes do i pay

trump is a fucking lying sleazebag moron

you pay the gain in USD from the cost basis on the gold, are you fucking brain dead?

no you have too, and if you get in wrong you go in the cells with bubba and co.

>tripfag
>emulating android for blockfolio worth $12 in ark
woah

you realize they have compjuters that do it automatically? all you history is logged on an exchange, they don't have to do shit.

enjoy getting double teamed by tyrese and jamal and dying of AIDS

there are plenty of bitcoin ATMs in Usa. Doesnt that mean you can just withdraw money there without reporting income on the tax report?

They are't allowed to automate the process, it has to be done by hand.

>RIP CRYPTO
In one country

so when i pay molten wow $100 for $100k wowgold and they change their prices to $150 for 100k and the secondary market adjusts, do i owe gains? what if i bought a stupid mount with the 100k after the gains set in, but then the mount market crashed? note that at this point i have already used the mount and it is non-transferable.

I aint got a mobile phone. Aint got time for it. What sort of soyboy owns a mobile phone?

Im a busy man. Got coins to hold.

This is the end for you Amerifats, don't think that you have any control over Crypto, the miners aren't even in USA

I thought about that.

We should go invade that smug bastard Chad, but it's landlocked though. So we cant build a navy.

> gang of top autists
kek'd so hard and spilled my 1$ noodles
you own me 0.2 btc for my fucked up macbook pro

I'm not an autist I don't know what any of that shit means. IRS doesn't care about $100 in wow. they are going to care about crypto though.

>implying apple anything is worth 0.2 btc

>tfw the IRS has programs to calculate all of these transactions and what we have to pay
>tfw they will never release it to us
They literally want to fuck people

>NoxPlayer

enjoy your Chinese malware faggot

Those ATMs have cameras. They record the faces of anyone who uses the machines. Since the gov't already has an facial image database of every citizen, it's just a matter of matching the face with the identity using facial recognition software.

Can you give me a run down on this?

Enjoy your fuckin chink shit phone that costs $1k m8

PhoneFags btfo

>implying that anyone will actually report 100% of their like-kind trades

>2 years ago
>get Xbox One w/ kinnect
>walk into the room to get my wallet
>facial recognition activates my Xbox and signs into my account
into the trash it went

Cool, America lagging behind again. There is no sales tax in Europe because that's obviously retarded for a cryptocurrency.

This
Anyone know if welfare neets use their monthly check to buy prepaid visas to invest in crypto?

>trump saves america from the inevitable tyranny of the cashless beast system
>gets shit on by neets with dreams of lambos

>being retarded enough to think a certain political belief will change anything
politics is the ass of society, culture is the brains once you have a full trust society thats when the good times come. Until then youre just a dumb individualist goy

Gains made from trading assets for other assets will obviously be taxed. Why would an exception be made for cryptos? They are assets. If there are capital gains taxes, then your assets are going to be taxed. You should have supported removing capital gains taxes instead of complaining about the rich exploiting loopholes that you yourself now want to exploit.

Im guessing these new rules will apply to next years taxes and not this years?

If you can tell me how we can create a high trust society within the next thirty years I'll listen. If not, shut up with you hogwash.

i keep everything on blockfolio you think they will subpoena there

Teach me user;

If I create an LLC, and make the purchase of stocks on behave of the LLC, I can profit?
What am I missing, please point me in the right direction.

These people like to make these things retroactive.

my name isnt connected to most of the exhanges i use. how will they know

>implying laws can be implemented retroactively

>privacy
>from the government
>on a computer
good luck

Don't know. I am going to consult with a tax attorney In Seattle next Tuesday. I'm shaking like a dog shitting tacks.

> Can't even read a white paper & speculate

You pump it a shitty tech like Verge, you totally deserved it.

Enjoy niggers in jail you dumb fuck piece of shit.

Case Law Exists. This isn't my first rodeo. I know what these people are capable of.

What if you bought crypto and are holding on to it? If you didn't have any fiat money deposited into your bank account from crypto then you won't owe any taxes right? Because you didn't make any money that they can claim taxes on.

The only people who are upset by this are people who are incorrectly trying to use the many cryptocurrencies as a get rich scheme rather than an actual currency.

Why do Americans do this?

They broadcast endless propaganda against Russia and North Korea, demonizing both countries to the absolute limit, then ask themselves "Why do Russia and North Korea hate us?"

Can somebody explain this to me?

you only pay taxes when to trade crypto for crypto or if you cash out for fiat
this is assuming your original holdings increased before trading for another crypto.

have fun connected it you tax shill faggot. they can barely get the records for 2014 coinbase users let alone every exchange.

if you bought crypto with crypto (BTC - LTC for example) you do owe taxes

when in doubt follow the money

>Donald Trumunumunupl

I got a 5k loan for mining rigs and declared it as a business loss this year. Extra 1.5k back on my taxes. Stay down hobbiests.

>>mfw people are calculating my taxes on WoW gold to health potions

You just made me nostalgia hard. Kinda makes me wanna reinstall that shit and log in to my old account and see just how much gold I have in there. I seem to remember it being about 17,000. Damn you!

>implying I gave personal info to the exchanges im on
>implying the exchanges are in the US and subject to US law
>implying if shit gets bad I wont just renounce US citizenship and GTFO
I'm not even on the IRS's radar have no idea I trade crypto or how much I hold. As far as they know im a poorfag who pays all his taxes like a good goy on my wagecuck paychecks. And these things take years to process anyway, so even if they did suspect something I all already be in lamdoland in a tax haven where they cant touch me.

The tax rate on long term capital gains is zero if you are in the bottom two income brackets, which can be as high as 100k a year for a married couple. That's 0% taxes, on crypto, 100% legal, says so on IRS.gov. All you have to do is hold for 1 year. You can also deduct your cost basis.

Literally what is the point of cryptos if the government taxes them?

I. Don't. Think. You. Heard. Me. There. Will. Be. A. Sales. Tax. On. Every. Crypto. Trade.

Tax my decentralized money. Need a way to keep it in a currency that is private and gov can’t track.

"In the United States, sales tax is governed at the state level and no national general sales tax exists"

I feel the same way but im verified on cuckbase and bitrex. But i only have had a total of 11k pass through my coinbase acount this year into m bank and each deposit is to paypal then to my bank is 500 or less. What do u anons recommend ? I have btc tax and i only owe 891.

Latin for "from a thing done afterward." Ex post facto is most typically used to refer to a criminal law that applies retroactively, thereby criminalizing conduct that was legal when originally performed. Two clauses in the US Constitution prohibit ex post facto laws: Art 1, § 9 and Art. 1 § 10.

when you cash into USD you owe capital gains theres no way around it, what these morons are proposing however, is that there's some way to track crypto buys/sells/transfers/ownership and pay sales tax on it, the very idea is ludicrous and counter-productive to crypto.

Tfw 17k is fucking chump change these days

Anyone with half a brain is going to realize what the big holds are for next year, and whats coming down the pipe

Privacy and user coins are gonna moon like nothing else, the more the IRS cracks down the more user tech will come out

This is the whole point of crypto, guys. Dont you get it? This is why it was created. Monero, Verge, Cloak are just the beginning.

>Obfuscated wallets and tx's
>Decentralized and user exchanges
>Obfuscated atomic swaps
>user debit cards
>Underground, user USD/Asset exchanges

There *will* be a backlash in crypto. Trust me. The harder the gov squeezes, the more crypto slips through their fingers.

That i understand, what i dont is if coinbase will rat me out even tho im a poorfag. Also my taxes are low because im in the 15% bracket, 12% next year for the trade gains. I dont wana report shit.

UNLESS asset swapping becomes a thing. Then you take out a loan, get USD, and you put up your property (crypto) as collateral. You default on the loan and they take your property, but you keep the cash. And you pay 0 in tax and its completely legal. We just have to wait for someone to come along willing to do it with crypto.

But yeah there is no way in hell they will be able to track and tax every trade, way too many factors the have to figure out. And they are going to go after the people cashing out on coinbase before they do anything with foreign exchanges,

seriously, anything you turned into USD claim as capital gains or you'll get fucked royally with possible prison time.

Can you actually hide your gains with those coins? (Monero, Verge, Cloak)
They could simply shutdown every exchange that uses them.

>SALT

>Can you actually hide your gains with those coins? (Monero, Verge, Cloak)

Yes, Darksend/Obfuscated send already does that. It breaks up your tx's. Hidden wallets, etc

>They could simply shutdown every exchange that uses them.

Not the decentralized ones :)

If they go full on 1984 and start shutting down exchanges trading Monero and shit, the whole thing is gonna go underground fast. And projects like Shift will go on overdrive, everything will become anonymous

I mean this really is the destiny of crypto, we all know that is what its coming down to.

Yes. they could. Just like they shut down alpha bay.

Yeah Salt looks promising, but I heard people saying you have to over leverage loans.

Kek, Tor has been compromised a long time ago.

There is a new Darknet coming and they wont be able to shut it down

Talking. Like. This. Is. Fucking. Gay. Stop. It

You're pathetic.

Yeah, time to move all crypto to Binance lads.
Good look subpoenaing the chinks.

news.bitcoin.com/belarus-legalizes-cryptocurrencies-icos-tax-free/

what the fuck people actually think using a phone emulator on their pc is BTFO-tier lmfao

>coinbase will rat me
Jesus, I can bet 80% of Veeky Forums lurkers are fucking kids. You never used exchanges before? All gains and loses you make going to affect your taxes. Doesn't matter if it's a Disney stock, or fucking DOGE coin. You made profit if you sold it for USD. But you can claim a loss if you actually lost money on trading to. I've lost ~12k dolaritos on penny stocks and still getting my tax deductions because of it.

>be current year in United states
>2024
>Trump's presidency just came to an end
>libcuck voted into office by angry nocoiners
>Massive taxes imposed on anyone owning crypto
>taxed on 100% of gains
>75% goes to gubberment to be (((redistributed))) to the (((99%)))
>Anyone without accurate records on each trade is sent directly to prison for 40 years
>Being involved in "crypto" is stigmatized to being worse than a neo-nazi
>Purple haired demigorgansexual nocoiners hunt down and murder the remaining cryptolords who aren't in prison yet
>Hailed as saviours of the modern age
>Lambos no longer exist
This can't end well.

Yeah not like based Trump, he loves us

i long for the day the purple haired trans demiqueer afro feminist faggotsexuals actually try something like this. My brethren and I will freely distribute lead to all of them.

Normies are literally going out of their ways to buy this shit. Get rekt, BZC is the only one they'll buy for fun.