Never tell your parents about crypto

>tell my mom about my sub-1k crypto investments
>"THE IRS IS GONNA CATCH UP TO YOU, THEY'RE GONNA FIND A WAY AND TAX YOU, IT DOESN'T MATTER THAT IT'S DIGITAL, IT'S NEGOTIABLE VALUE AND THESE ARE CAPITAL GAINS"

I feel you, this is exactly how my family has been, except I told them a year ago about it. Very stupid

Listen to your mom. The IRS found out about all my money i made from my minecraft server

as of this year shes right tho

your mom is smarter than you

How?Did you spend it?

fuck baby boomers

>worrying about IRS
TOPKEK

My parents wouldn’t even understand the idea of cryptocurrency. If I’m ever going to make it, I’ll just give them money and tell them nothing about the source.

>IRS found out about all my money i made from my minecraft server
you put the cuckbuxx into your bank account didn't you, idiot?

Fucking underage virgins hiding crypto from mom.

>tell my mom

Found what you did wrong

BITFLUR IS AN IRS SCAM. DON'T USE IT UNLESS YOU WANT TO BE FUCKED BY BUBBA

Ask your mom what REALIZED gains are.

Uh, you do have to pay capital gains kiddo.

total scam by tony dumper niggers

Told my dad about the ridiculous CGT in my country and what I'd have to pay if I hit my target.

His response: "How the fuck are they gonna find out?"

eh going to jail for 5 years is worth it to come out a billionare

no paypal reported me to them

>paypal
you dumb fucking nigger

how the fuck do you make money with minecraft?
is making money with games taxable? wtf?
I made some money selling wow gold.

>Telling people about your crypto

You dont do that until its 5 years from now and you are are retired.

>I made some money selling wow gold.
prepare your anus

This type of shit is why I can't wait for crypto to be used as actual currency instead of a speculative market. The only reason they can do anything is because people withdraw from crypto and deposit cash to a bank.

>tell parents my crypto portfolio went from 700 to 5000
>start moaning about me needing to cash out to a foreign bank account to keep the money safe

Could be worse, but what exactly is their logic here? First off cashing out exposes you to the risk of being detected. Secondly, cash out into what? FIAT that does nothing but lose value? 5k isn't enough to buy real estate, and anything I take out isn't going to make me any money. Why would I ever sell coins which are mooning and will moon more massively in the coming months?

Ok, so if you don't cash out via paypal or bank account, how are you supposed to get it and avoid IRS?

localmonero

Paypal was the only option man

Yeah I sold ingame perks/ranks and stuff. Made over $100k

Next time pay the IRS their shitty 30% and don't get butt fucked.

tfw not a americuck

you underestimate what microtransactions parents will tolerate to get their kids to shut up and play with the computer more

never tell anyone about crypto unless you already cashed out

>not having chad parents

>dad, w-wanna invest a couple grand in this new thing antshares with me
> couple grand? take 15k otherwise it's not worth the risk

What happened to you?
Did you just get a letter in the mail?

I'm filing my taxes for this year but my #1 worry is that I'm going to do it incorrectly (I've got 1000s of trades and didn't understand the implication of making micro trades between alts 20 times a day). I've paid for bitcoin.tax and contacted my CPA so fingers crossed it all comes out correctly. The tax laws surrounding crypto are archaic and make it difficult for willing participants to pay fairly.

the virgin father. the chad dad.

Ask if she gives you a fee blowjob does that count as negotiable value and capital gains.

Holy fuck your dad is a sick cunt

My parents are pretty cool too.
>Don't stay up all night user
>Oh, unless you're going to be up all night making money :^)

They don't have enough money to take risks though or else they would.

I told mom now shes got me investing for her and she gets mad when i make a lot of gains and she isnt making much.
Bought something for her that made her $300 overnight but it wasn't enough cause i made $1200 even though i invested far more.

Why cant she just be proud of me?

Told my mum and she wanted to give me £100 for my investment of choice. 200 linkies it is then