It's not even a meme. I have 2 BTC I made from shitcoins back in 2014 on Cryptsy and MCXnow, and now that I'm trying to cash them out I just can't. I literally can't. I'm thinking about just giving them away to Veeky Forums or my friends who don't live in the US or Canada.
Seriously what are my options? >Buy giftcards - you don't know if the GC was bought with stolen CC >Cash out and only tax 50% of gains - good luck explaining where that money came from to the IRS/CRA without a record of trades if they ever decide to audit you
I'll tip anyone who offers me SOLID advice as to how I'm supposed to cash out without ringing bells or being flagged as a money launderer. I'm in Canada by the way.
Why would you get 50% tax from something you held for years
Leo Bailey
133dtwGWQXLpmfs7NKNTBCJwxQos9u2cRs
Send them if you dont want
Gavin Brooks
cash out into paypal then into your bank. Anything would help Op i lost coins from harddrive failure. Its my fault and anything helps. Thanks
Carson Rodriguez
Put your BTC on binance and swap it for USDT it's a coin that is tied 1:1 for the US dollar. You can safely relax with your money not subject to the volatility of the crypto market until you find a good way to cash them out.
Use local bitcoins or a bitcoin ATM.
Adam Phillips
Get one of those Bitcoin debit cards and just buy gold
Sebastian Parker
13hEhYwPACrDj6byE1 uGWTNMgxPMkz3Ykr
Forgot to add
Christian Gutierrez
quadriga? local bitcoins? give to me? I'm in canada I'll cash em all out for you and get audited. idgaf my credit history is garbage anyways
Joshua Edwards
sell them on quadrigacx you dumb fucking idiot
Jeremiah Butler
>or my friends who don't live in the US or Canada If there is a really close friend whom you trust, you could send the coins to him and let that person cash out?
You can always send me some, or buy giftcards indeed. 1F8HCvrogEBgYFyXChpHuXPnReh2DTAgV5
Evan Ward
who sent you? >localbitcoins ur a spook tho
Hudson Butler
What was that one site people were talking about earlier? Bitflur?
Joshua Myers
I'll give the the most solid advice in this thread:
1) Transfer your shit to coinbase 2) Connect to your bank account 3) Take a picture of your ID front/back and send it in to lift your bank limits 3b) If they reject you, email support, send pics of your passport and other supporting documents. 3c) If this fails, just do it in multiple transfers. 4) Transfer your money to your bank.
1EwC7fd2W2BWFrk8WUJzG8JRb1oSK1i3Fs
Liam Smith
want my expert opinion?
Bentley Ross
This is great advice do it OP
Kevin Adams
addendum: state your gains on your tax documents like you would with stocks. Don't be greedy.
Angel Lewis
he is in canada so he can't sell on coinbase. I would call you an illiterate retard but nice digits
Jack Diaz
>cryptsy You're pretty fucked. Honestly when I came back to the scene and found out vern runnoft, I was at least relieved I wouldn't have to worry about explaining my profits since he ran off with the them anyway. I probably had more on cryptostocks. But I only out in 30 bucks cause I wanted to prove I could make successful trades (10xd my $30 in a month,mostly scalping and doing xpm-ltc-btc arb) before putting money on the line.
If you fill out a 1039 or whatever like normal, fudging what you can remember, and reference carticles about cryptsy and mcxnow that might fly. You could be making it up, but they can't prove that and if you're giving them money proportional to your income (that they can see) you should (ethically*) be given benefit of doubt.
*hahaha
Ryan Lopez
Hello fellow Canuck, I can advise you on a simple way to take out cash for coin, only downfall are the fees but you can take out to 2500cad per day from most btc ATMs. Quick google search of your area and you should find what your looking for. Worst case you dip to the next province for a few days where they have 3 or 4 in close proximity et voila.
You could also fuck around with sell local btc but that's just such a fucking hack around.
You could also look online for retailers that accept btc as payment and purchase products to resell for cash or to use as you please.
The ATMs do track what wallet it comes from so you should be good if you exit from an exchange it'll be from a different sending address each time.
Will accept maple syrup as a tip :)
1PS9VYeUkt9Li2ECjztCzpenGytJkyqNbX
Jackson Hill
OP, you should consider buying gift cards at a site like egifter that accepts bitcoin as payment.
You can also try crediting them to your amazon account so you can buy a bunch of shit for the next x amount of years without worrying about it.
Hope that helps, brah.
19qsgENNWm5PWfqbH 3QszpQUwkJTqBQxYo
Lucas Murphy
Use www.QuadrigaCX.com
I think it is the best way to sell BTC in Canada right now.
1D6oWws34tCwuitJ5xBHyLHv61n5LXTeyt
Thank you
Jeremiah Anderson
You can prove you bought the shitcoin and flipped them to bitcoin and now coming home to your shit USD. If you can't do that then I guess you give them away lol
Thomas Kelly
No idea, how does it even work for longterm stuff? I mean I still need to explain where those BTC come from correct?
How
I need a way to cash out now, like yesterday. I don't want to wait anymore.
Buy gold, then what?
I'm down, I live in Ontario, shame Veeky Forums has no way to DM
What about audit, should I just take the risk? I don't want to have that thought of having done something "illegal" in the back of my mind, I'm a bit of a pussy when it comes to law stuff
I'm in Canada, so no Coinbase
yes sir
and that would pass?
fuu. thanks for the info though. also I've been jobless for the past year, so I guess I'm even more fucked in that case. seems like there's no "clean" way to go out of this.
yeah there's no ATM nearby unless I drive/fly to another province which kinda sucks balls desu, would prefer to do it the clean way if that exists.
how do I know giftcards won't link the wallet back to my IRL identity, or if they were bought with a stolen CC? I mean it's still probably the best option I have so far but kinda makes me anxious still
Gabriel Williams
I don't see how you couldn't get the money out. I don't live in Canada tho. Well if nothing else start spending it on your purchases. Need to buy a new computer? Buy it with bitcoin. Or buy gift cards for your favorite shops (Amazon..) and start spending them. You can buy pretty much anything with bitcoin now
What you can also do.. every now and then buy a new phone or a laptop (with bitcoin) and then sell it on classifieds for $$$. A pretty easy way of getting the money out when you need it. Your Bitcoin won't go anywhere if you sell in smaller volumes.
If you are willing to do it then find someone who can buy some off of you with Paypal (and send it as a gift so you have no worries!!).
If you like my suggestions feel free to tip =)
19XvWJ2WtCLZjrGVQuZQGSTfxDreviSGYJ
William Smith
I don't understand why you can't print off the buy orders from the shitcoin exchanges you bought them from and shove it up the IRS's ass. That's all the proof they need. Plus all they want is for you to PAY something. Plus you're not cashing out millions. You're literally cashing out a cigarette to them.
Alexander Young
yeah but buying stuff online with bitcoin is a taxable event, it's no better than cashing out. unless I'd be doing it in very small volume, like $50 at a time for 300 months which is retarded
Get your stuff onto Quadrigacx first and sell it for CAD.
From there
A: Order a cash delivery from Quadriga. They can do it for 2% + $20, so $740.
B: Interac yourself 9k x4 over the course of a couple of weeks/months. 2% + $5 per withdrawal so a total of $740 again.
C: Send the whole lot in a single bank transfer. Flat 2% so $720. Will get flagged so have your evidence ready.
Regardless, pay your capital gains on the withdrawal. It's whatever your income rate is on the first 50% of the gain so 50% of 18k.
Don't do anything stupid to try and avoid the tax. CRA is fairly blase compared to the IRS but you don't want to get hammered in an audit a couple of years from now when they get that tax + years of fines from you.
Good luck.
14xejk8khtYXhtX9PdKjtiHDm1DZjuPkhg
Dylan Miller
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.
Jordan Johnson
because it's gone. cryptsy is dead, mcxnow is dead, I have zero records of the trades I made with, iirc lottocoin, vertcoin and whatever shitcoin there was in 2014. I believe the only other exchange I used was poloniex so I still have like 1% of the records. I used to be pretty hardcore on that stuff
Dylan Reed
give me like 10% or something I'll cash them out on quadriga. can pull like 100k per 24 hrs there
Nathaniel Powell
My brother, I'm from Portugal.
Try local bitcoin, don't know if it works there, or buy some gift cards with it. If it doesn't work, just hold them.
Best of luck.
1FmRbciBqBHKNKKkY9VYhVhWmysaACB2Y8
Brandon Sanders
you're a moron, i can LITERALLY cash out on quadriga right now. I've done it before in 2014 and I can do it now, i have a little bit on there.
>local bitcoins >Get it transferred to your bank account
How hard is it? Do it in small payments if you need.
Leo Reed
there is nothing illegal about trading crypto. you wil not get audited. pay appropriate taxes on the amount you cash out and you will be fine
Christopher Hall
I'm this guy ()
That would involve the gift card company caring enough about the transaction to contact their government, have that government contact your government, then find you. Maybe if you had somehow scammed 100 people out of a million dollars, they might do something like that. 2 BTC isn't worth the effort.
Another option to consider is Bitcoin ATM machines. They have them in gas stations now, so you can literally cash out from your BTC wallet.
19qsgENNWm5PWfqbH 3QszpQUwkJTqBQxYo
Ayden Lewis
ITT retards reveal how badly the don’t understand this meme currency they swapped actual dollars for, proving their eternal faggotry. Coiners gys.
Landon Jenkins
>without ringing bells or being flagged as a money launderer >he's having trouble cashing out
Charles Sullivan
>convert to XMR >buy lsd on the darkweb >sell it to Canadians
Send them to me I'll cash them and do a bank transfer, but I'll ask for 10%.
15dkiPyD9e8rKuvYKRytETFTmZ1EEwwaUJ
Deal? What kind of bank you with?
Isaiah Ortiz
Adding to this, be smart and make a voluntary disclosure with the CRA about where this income came from and that it's going into your taxes next year.
www.cra.gc.ca/voluntarydisclosures
Henry Edwards
as a Canuck, should I be keeping a record of all my trades? I know amerifags have to
Jason Barnes
doubt it. nothing announced by true doe yet
Ayden Walker
Wrong order. He should get verified before doing any transferring.
Zachary Fisher
my buddy just signed up for quadriga and verification is taking fucking forever right now.. 1 week plus
Jonathan Reyes
so paying my capital gains tax should theoretically be fine? I have a decent chunk of cryptos but fuck me if I have to now go back and find all my crypto to crypto trades
Jackson Murphy
This. I use my shift card to launder money. Withdrawl limits are a bitch, though
Kayden Morales
Im guessing so. I havent read anything abot having to disclose trades. we're pretty lax on this kind of shit, i mean we can still play online poker here too easily. dem yanks be fucked when it comes to $$$
Robert Hill
like I realize there's a couple of guys like you two, but is this even safe? do you just wire the money to my account afterwards? i realize 2BTC isn't a super large amount but it's still 40k CAD on a good day so I don't want to get flagged
decent advice for once in this thread. last thing, i've been unemployed for the past year, should I wait until I get a job so it doesn't appear as fishy? what to do
also I want to tip some of you but the fees are too goddamned high, BCH addresses instead
Ian White
damn that's U.S only
Brandon Diaz
pls don't send your BTC to anyone on this board
Hunter Torres
You can cash out, but if you do you owe capital gains tax, OP doesn't want to have to deal with that. He could literally take it to any exchange right now and have it sent to a bank account.
Unfortunately Op, if you convert to fiat, you're gonna owe the tax.
You could always make the claim you found them on an old laptop, or you minded them years ago, or your friend gave you a bunch years ago when he mined them when they were less than a penny and you've been holding all this time. There's plenty of ways you could have acquired this crypto. But thats only if they ask questions, as long as you file the tax on it, they probably wont ask too many questions. There are a lot of people not even fling or pay any tax at all, they will be going after those people.
Isaac Powell
OP there is really no good way to cash this out.
Best option would be to buy from APMEX and then cash it out into PMs then trade those for cash at a local dealer.
Not going to be easy to do so and you will need to be comfortable taking a lot of cash. God speed.
Gavin Lee
could just get someone to mail you cash, or western union or something like that. too bad you're not in B.C. No idea if it would get flagged, probably yeah if it was bank to bank wire.
yea vancouver had one of the first ones in the world. i knew the guy who manned it when it first came out. speaking of which that guy must be extremely wealthy now
Dylan Morris
Are you claiming unemployment? If you're claiming unemployment and realize capital gains during the period, you may have to repay some of the EI benefits you received. Or so has been the situation with people cashing out stocks on EI.
It would be treated the same and have to be disclosed as the same.
I'm not too sure what kind of $ total impact you'd be talking about in that situation.
FWIW I've withdrawn from poker sites many times to Canadian bank accounts, self-declared the capital gains the next tax declaration and never had an issue or audit.
1NvDggabZR2Sy9Exn4Ua62v4A85VBWqcje
Ayden Campbell
If crypto ATM isn't a solution you could also sell them for cash on localbitcoins
William Smith
Gibs?
3J6DqBQPFqndrot2byi6qVSxZLE9gm8WfW
Austin Bennett
My BCH address: 1WjVkvEXiRTxBw56GoV2AbGDR6wUXdVRA
Gabriel Torres
DON'T give any of the faggots on this board bitcoin.
Jace Bennett
meh, i would prove to the guy who i was and do him solid for this as a fellow canuck. though i agree 100%
Brandon Taylor
Adding to this: Sending your 2BTC to some dude on Veeky Forums to "cash out" is asking to be scammed. You can use local bitcoin (do it somewhere very public obviously) if you want to go that kind of route, but under no circumstances should you transfer to randos here hoping they cash it out for you (even at 10% charge) and hand the lot back.
Ryder Wilson
Also my friend is a lawyer and he had an idea how to cash out but in Europe. I can ask him if you are interested. We just talked about it, unfortunately not in the "cash out stage".
But I mean it might worth to fly to EU to cash out 2 BTC if you have no chance to do it locally.
Leo Hall
I would go with the Gift Cards bruh
In case you want to be generous, here's my BTC Wallet: 1Frr18n8r682F2ZGiz5EoXJWENFw9KSv9Y
John Parker
im stupid but not that stupid, been scammed quite a couple times on bitcointalk even in the most seemingly honest exchanges so built myself a tough shell overtime, although if it's just for tipping people for genuinely helping me i'm okay with that. but i realize i need to tx my btc to binance first so i can convert into bch and thats a hassle atm
i mean selling for cash is actually money laundering / tax evasion and I don't want the buyers to phone me back in a couple months to tell me i've scammed them, i'd only do it with experienced traders who have done this for a long time and know their ways, but afaik lots of people on localbitcoin are feds and honeypots and i dont have connections
Ryan Rivera
wow another mcxnow bro :* vicopr here ;)
Cooper Perry
I'm sure you have facebook crypto groups in Canada, in my country I've bought and sell BTC many times through these groups. You might be a little too cautious (I don't know the situation in kanada though)
Kevin Reyes
hell yeah man, i used to be on the mcx irc with realsolid and whoever else, no idea what happened to these guys, seems like theyve all disappeared from the bitcoin stuff
Jackson Torres
You could also sell them without evidence with fake e-mail, etc.
Joseph Jones
GO TO LOCALBITCOINS.COM !!!!!!!!!!!!!! GO TO LOCALBITCOINS.COM !!!!!!!!!!!!!! GO TO LOCALBITCOINS.COM !!!!!!!!!!!!!!
Also, you could find someone to buy gold from. With BTC. If they ask you, you tell em your great-grandma gave it to you before she died.
I'll post my address in a minute. Semi-poor semi-young male eurofag here.
Christian Morgan
Buy Ark faggot and long hold like me.
Jews are making this shit hard for us, and they are winning this battle, but they will not win the war.
Carter Johnson
You could buy a VPN with bitcoin. You can buy shit at newegg. You can buy gift cards.
Jose Cruz
ok, here mah man: 1PnhbHtxDKJp3HYNfK7YPvmQ9kMyYYAKsq
Tell me if you need some of this gold selling contact. There are always ways, you just need to ask the right people ;)
Anthony Baker
>withdrew into my bank account >transfer denied >call bank >clear it up >try again >money goes through it just works
Lucas Wood
(OP) I just saw what you posted about localbitcoins. First of all, they have developed a intermediary, that holds both coins and money so you won't get scammed. And you don't have to leave your phone number or anything. It's legal too.
Another option I would recommend is travelling. Go visit some country which has a bitcoin ATM. Cash out.
Another option would be transferring your BTC to a service like "xapo"... they even have debit cards on bitcoin. There you just press a button, dadaaa, you got your cash. Or buy stuff with the credit card. Everything legal.
1PnhbHtxDKJp3HYNfK7YPvmQ9kMyYYAKsq
Parker Fisher
well if you have trust you can email me ill hodl it for you or sell it then bring it into my bank account then transfer through electronic wired so it cheaper, up to you if you have faith in a user
William Green
Hey senpai Im just getting into crypto it would be cool if you could throw me 5 bucks or something bitcoin : 13wY4CzWi5QEQDdvDWzcLnqBmd3qVjQYoF
Jaxon Parker
Actually, that credit card thing, and xapo service is legit a good service in your situation. They are so legal and safe, shitting in your toilet at home was never that legal.
Jaxon Ramirez
Ignore this pajeet!
Poor eastern European unifag here BCH 1WjVkvEXiRTxBw56GoV2AbGDR6wUXdVRA
Gavin Gomez
Buy gold coins from one shop then take them right down the street to another shop and sell them for spot. Now you have cash. You can just buy a bunch of gold coins and whenever you want cash just sell a coin at any shop anywhere in the world. Gold is like the original bitcoin.
Parker Hill
Someone ban the beggars
Carter Rodriguez
i'll tip some bch but probably not today, as long as 1NvDggabZR2Sy9Exn4Ua62v4A85VBWqcje
They work 100% in canada (I saw that xapo doesn't deliver canadian cards, only US) They have a physical AND virtual credit card.
You've said you need it now, today. So just go there, make a virtual credit card, and dadaaaaa... buy stuff! (address posted already)
Isaac Stewart
Hey OP, I am also from Ontario but I haven't cashed out any large amount but for large amount like yours I would recommend using a bitcoin ATM near you, here are some places in Ontario that i found online but check with small amount to make sure it works and cash out periodically. coinatmradar.com/state/55/bitcoin-atm-ontario/
BTC address if you wanna help this brother out 1FSKWhjqiqqR4zdPL3zLKu8KnzuvEyDymz
Michael Collins
Yeah that's mine. Cheers for the tip bud, good luck with the withdrawal and enjoy the rest of your holidays.
Matthew Bennett
im honestly a little worried/puzzled about this too. I never reported my losses from 2014-2016 as I was playing with small money and never cashed out to dollars. In 2016 I started buying large with real money. Largely my gains are from that time but cryptsy being gone especially creates a huge black hole missing link
Jackson Garcia
Buy shit on newegg with btc, resell it on craig/hardwareswap Not even going to post an address
