Psuedo Whale Here. I've had some pretty good success these last couple months turning ~40k into what is now ~500k and growing.
At this rate, I'll be hitting a Milli pretty soon and will have to start thinking about taking profit/tax strategy. Will likely be selling crypto in large amounts for Fiat under the table to hide from the tax man and/or moving to Puerto Rico. Does anyone know how I can access a network of investors in San Francisco/the Bay Area trying to buy a lot of crypto and help me cash out some? I'm not doing that localethereum/localbitcoins shit because that's sketch af and not in large enough amounts.
Also, trying to join a community of whales to talk crypto investments, market manipulation, tax strategy, etc.
m8 my crypto portfolio is also around 500k, I would barely consider myself a fish
Welcome to 4chnage new pal xD lulz
I love cute squishy whales
Still far off, but I have the next 10 baggers that will take me to ~2M in the next month. Hell even if I switched it all to ETH I Would have ~2M by end of next year. Whether that's whale status or not is not the point anyways
made some original content just for you :3c
Hot, keep it coming.
What do you think about paying only partially for the tax gains using this strat.
>>btc to XMR >>claim you lost all your money >>XMR to diff btc address >>claim someone gifted you this randomly or you found an old wallet with a bunch of btc in it
would this work? why or why not? no nigger responses
No. Losing your money doesn't absolve you of tax liability.
They want a money trail otherwise you're liable to go to jail for money laundering.
ty for the appreciation user. This one is featuring Fizz from League of Legends
Pay your taxes so they don't shut the thing down though.
Also the reason why XMR and zcash skyrocketed towards end of year
Won't the jews be happy with 20% of my gains? Im willing to pay 20% isn't that enough to quell the jew?
pass the assets to someone about to die and have them will it to you
Those colors go well together hmm
They just want to know where the money goes. You could probably lie about the amounts, but they still want to know where it's going.
Can't i just say i fat fingered and sent to the wrong address?
HE WANTS TO FUCK YOUR WHALE NIGGER
Bruh I'm not trying to go to court and lie about this shit
? You can't pay taxes on losses. I'm not being condescending and honestly I'm pretty drunk, but I've been thinking about this for a while.
I don't completely understand this every ETH or BTC transaction is taxed stuff, but I'm convinced that as long as the monero meme is real you can have one extra account and completely wash the money.
I have invested $10k and I'm sitting at $100k. When I cash out $10k there's no way for the IRS to know that I have that extra $90k, right? Until they audit every exchange that I've transferred money to they can't prove that I gained/lost anything.
are you that guy from picassos group?
But that's what the problem is. It is very likely that in the future that the IRS will have transaction data from all exchanges. It's already happening with the Korean Government cracking down on Houbi/other Korean exchanges
how much money have you stole from us with dbc bitch
Not aware of Picassos group please inform
Someone needs to find some shady way to sell people bars of gold in exchange for XMR.
With capital gains taxes so high they could add a huge upcharge to the sale.
Just curious—why would you cash out at a million?
If your patterns are successful, you should go higher. If you can cash out at 3M+, you can maintain good/stable annual returns using traditional low-fee funds and government bonds.
Or are you worried that the bull market won't last much longer, and that one pump will lose you some earnings?
Congratulations on the success!
I get where you're coming from but struggle to see Korean or Chinese exchanges being transparent with the IRS - there's just no incentive
Even if exchanges are a problem, just say you sent money from an exchange to a private monero wallet, then paid for drugs directly to another monero wallet.
Then stick to your story about how you sucked dick for crypto, or whatever, to make all of your money and cash out your gains under self employment taxes
Honestly bro, when you wanna cash out, convert to BTC or ETH and ask friends if they wanna buy some crypto at fair value price. most normies only wanna btc or eth. ask friends of friends. I have many socal friends who buy large amounts in cash and it helps if your well connected with working professionals.
if your from the bay area, go to crypto conferences or meet ups. talk up angel investors and other ppl. these guys will buy big amounts. I have connects in socal who are brokers on lbc who sell minimum 10k btc -100k in cash. just look around its not hard man. buy an amex serve and load up on prepaid visas which you can use practically anywhere
I do this when cashing out a few thousand here and there, but I can't imagine cashing out large sums like that.
I'm from Australia and they recently introduced a 40% tax for crypto gains. Fuck that. I have a passport for a European country, where can I go and avoid paying taxes? Happily pay like 20% but I'm not fucking giving them 400k of my million.
If you live in US jurisdiction it will depend on your holding length. < 1 year and you're looking at short-term capital gains/losses. These can actually be written off your taxes, and are dependent on your short/long-term holdings.
you do realize there are guys who pay straight up paper cash for large amounts of btc. just don't deposit your fiat to the bank. why even use a bank? cash is accepted everywhere. if you need to order online, buy prepaid visa cards from 7/11 or tesco or w/e convenience store yall have. And you shouldn't be cashing out more than 100k at a time anyways. BTC's value will continue to go up. just cash out enough to eat and live and shop
Cheers, will look at that. I plan on buying a house so I need to go through the proper shit, otherwise yeah I'd just keep everything in Monero and sell when I need.
damn thanks haven't cummed like that in weeks
>Cheers, will look at that. I plan on buying a house so I need to go through the proper shit, otherwise yeah I'd just keep everything in Monero and sell when I need.
alot of real estate are accepting BTC as payment. this condo in SF is 220k which u can buy in btc, no need for fiat
i suggest hiring a tax attorney w/ CPA designation to see how much taxes you pay. if u do buy property the main question they will ask is where the money came from + if you paid taxes. if u made it from crypto ask the lawyer to make it the cheapest possible on the long term capital gains tax
Anyone that has been in this long enough realize that the market is volatile. Pretty much 97% of my networth is tied up in crypto right now and being able to de-risk with some cash is important considering I might be leaving my job and trading full time soon
The best community of whales to talk crypto investments, market manipulation, tax strategy, etc. in my honest opinion is the 10'000 member bitpam Veeky Forums CryptoCurrency trading/coding/mining discord.
It's a great place to discuss CryptoCurrency with other like minded pepe posters.
Veeky Forums doesn't allow discord links so if you search "bitpam discord" on google it shows up