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serveria.com
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August 20, 2020, 08:03:34 AM Merited by JayJuanGee (1) |
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6400$ would be nice to fill my bags !
If your bags are still not full you're doing it wrong. Well deserved punishment is inevitable... you had plenty of chances...  |
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fillippone
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August 20, 2020, 08:13:47 AM
Last edit: August 20, 2020, 08:58:31 AM by fillippone Merited by vapourminer (1) |
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<...>  Posting on the WO is not for the faint of heart. Posting on the WO requires commitment and attention. I am still trying to fill a 60 pages long gap in my WO reading (still missing 27050-27070 roughly). <...>
I’m fully KYC with unlimited fiat withdrawals on Kraken & Stamp, I have a big daily withdrawal acceptance on Coinbase Pro & something smaller like €200,000 per year on Localbitcoins.
I’ve linked 3 fiat bank acc’s to Kraken too.
Boys, you need to be prepared for next year, HairyMaclairy told me to be a boy scout in prep for the next bull run & I definitely have been. You do not want to get caught slipping when peak bull comes & the mempool is jammed to hell & exchanges are so busy.
Do what needs to be done, mini trial sells etc now. Get fully KYC’d on as many trusted exchanges as poss & link more than one bank account incase they block your account temporarily & ask you to explain source of funds when you dump multi millions in there.
This in interesting. Are you ready to be visited by HM Revenues? They will ask you, in the best case, a large chunk of your Bitcoin gains, or worse, ask stupid things like AML questions... Do you know how they will tax your signature coins? What is their buying price? EDIT: PlanB drops a nice one! History doesn't repeat, but often rhymes: 1797 .. Bank of England "transmuting all gold into paper". Lesson learned: ignore the paper and get the stuff they cannot print: gold and #bitcoin BTC |
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JayJuanGee
Legendary
 Online
Activity: 2422
Merit: 3350
How much alt coin diversification is needed? 0%?
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August 20, 2020, 08:34:55 AM
Last edit: August 20, 2020, 08:52:27 AM by JayJuanGee |
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6400$ would be nice to fill my bags !
If your bags are still not full you're doing it wrong. Well deserved punishment is inevitable... you had plenty of chances... Exactly!!! aesma registered his account before me, so there have been a lot of opportunities to buy and stock up on BTC, sats or whatever since early 2014. And, rooting for down BTC prices... especially in this thread, and 50% off sale, again?, at this point in the cycle?.... deserves punishment; that's for sure. How am I feeling about aesma, right about now?  |
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Last of the V8s
Legendary
 Offline
Activity: 1638
Merit: 4293
Be a bank
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August 20, 2020, 08:42:17 AM |
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hey JJG
stfu
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JayJuanGee
Legendary
Online
Activity: 2422
Merit: 3350
How much alt coin diversification is needed? 0%?
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August 20, 2020, 08:46:56 AM |
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hey JJG
stfu
I love having a day named after myself...  |
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Globb0
Legendary
Offline
Activity: 2408
Merit: 1943
Twitch.tv/Globb0 its easy to click follow TY TY :)
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August 20, 2020, 08:59:33 AM |
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Is it pride?
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Lucius
Legendary
Offline
Activity: 1946
Merit: 1989
Raised by Wolves
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August 20, 2020, 09:04:08 AM |
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I missed that $3000k phase in BTC's history. It must have been lovely.... Wished I could have been there (call me bitter, if you must).
It's certainly something I must have only dreamed of, the fact is that you certainly remember $3k just as much as I do - but also that we remember prices just under $200 just as well - it was only 5 years ago - time flies⏰ |
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JayJuanGee
Legendary
Online
Activity: 2422
Merit: 3350
How much alt coin diversification is needed? 0%?
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August 20, 2020, 09:34:27 AM |
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I missed that $3000k phase in BTC's history. It must have been lovely.... Wished I could have been there (call me bitter, if you must).
It's certainly something I must have only dreamed of, the fact is that you certainly remember $3k just as much as I do - but also that we remember prices just under $200 just as well - it was only 5 years ago - time flies⏰ I am trying to forget those times.... hahahahaha - not really... But, hey, considering BTC price bottoms, you had seen that PlanB tweet from yesterday about the 200Weekly Moving average? Dude posted it, below. Can't we have some assurance that the bottom is in (or at least the bottom keeps moving up)? So, in other words, maybe we can feel a certain level of confidence that BTC prices are not going below $6,400... so even $3k or sub $200 is even more out of the question - into the rearview mirror... and with the passage of time, we can start to feel even more confidence regarding even higher and higher bottom BTC prices... because the bottom keeps moving up with the 200 week moving average, no? Here's the chart from that PlanB tweet:  |
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vapourminer
Legendary
Offline
Activity: 3038
Merit: 1642
what is this "brake pedal" you speak of?
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August 20, 2020, 10:28:05 AM
Last edit: August 20, 2020, 11:06:30 AM by vapourminer Merited by fillippone (2) |
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I’m fully KYC with unlimited fiat withdrawals on Kraken & Stamp, I have a big daily withdrawal acceptance on Coinbase Pro & something smaller like €200,000 per year on Localbitcoins.
I’ve linked 3 fiat bank acc’s to Kraken too.
Boys, you need to be prepared for next year, HairyMaclairy told me to be a boy scout in prep for the next bull run & I definitely have been. You do not want to get caught slipping when peak bull comes & the mempool is jammed to hell & exchanges are so busy.
Do what needs to be done, mini trial sells etc now. Get fully KYC’d on as many trusted exchanges as poss & link more than one bank account incase they block your account temporarily & ask you to explain source of funds when you dump multi millions in there.
This in interesting. Are you ready to be visited by HM Revenues? They will ask you, in the best case, a large chunk of your Bitcoin gains, or worse, ask stupid things like AML questions... Do you know how they will tax your signature coins? What is their buying price? as an early miner i signed messages for most of my mining pool payout addys which are the bulk of my stack. those coins havent moved aside from sells and claiming bcash_lol/bsv and being moved to new wallets - my wallets, not exchange wallets - every so often. i printed those signed addys out and have them in safe deposit boxes etc for just such a reason (as well as .csv/screenshots on my computer and have backups etc). ive also listed buys and sells, including merchant payments (newegg, PMs etc) on my taxes over the years. i also have receipts for all my mining related gears and pics of my cards, fpgas, asics and the mining rigs from back in the day. as you said they WILL at some point want to know where that comes from. and ive cashed out amounts already that raised some pretty big flags over the years ($10,000 USD is a trigger for a flag so i try to do at least 10k withdraws when i do pull corn out to fiat). might as well flaunt it. dont want to be accused of structuring (if thats the term) to try to hide from red flags. not a peep from the irs or the bank. again, as you say, be prepared to prove where your stack came from. btw my main bank account for selling coins has no problem with coinbase and the amounts ive sold. |
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aesma
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August 20, 2020, 11:27:14 AM |
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6400$ would be nice to fill my bags !
If your bags are still not full you're doing it wrong. Well deserved punishment is inevitable... you had plenty of chances... Exactly!!! aesma registered his account before me, so there have been a lot of opportunities to buy and stock up on BTC, sats or whatever since early 2014. And, rooting for down BTC prices... especially in this thread, and 50% off sale, again?, at this point in the cycle?.... deserves punishment; that's for sure. How am I feeling about aesma, right about now? Well I'm younger than some of you, so I had much less cash to buy/mine BTC. I started end of 2013, I was out of school with no job, only had worked some summer jobs. Today I have an OK job but nowhere near a US salary. I think/wish that BTC will be much higher long term, but I also think (and wish) that it fluctuates a lot still. Of course an opportunity for me is also an opportunity for rich people to buy more, so that shouldn't happen, but history shows it can. |
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Dabs
Legendary
Offline
Activity: 2758
Merit: 1451
The Concierge of Crypto
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August 20, 2020, 11:29:47 AM |
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I've helped a few people do some relatively large bitcoin related transactions a few years ago. At least one was larger than $100k USD. No questions from the exchanges. No questions from the bank. No questions from the tax people.
Then again, I was in charge of payroll for a small business that did around that much or more in volume every month, so an occasional spike probably did not bother anyone.
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aesma
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August 20, 2020, 11:29:49 AM |
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I’m fully KYC with unlimited fiat withdrawals on Kraken & Stamp, I have a big daily withdrawal acceptance on Coinbase Pro & something smaller like €200,000 per year on Localbitcoins.
I’ve linked 3 fiat bank acc’s to Kraken too.
Boys, you need to be prepared for next year, HairyMaclairy told me to be a boy scout in prep for the next bull run & I definitely have been. You do not want to get caught slipping when peak bull comes & the mempool is jammed to hell & exchanges are so busy.
Do what needs to be done, mini trial sells etc now. Get fully KYC’d on as many trusted exchanges as poss & link more than one bank account incase they block your account temporarily & ask you to explain source of funds when you dump multi millions in there.
This in interesting. Are you ready to be visited by HM Revenues? They will ask you, in the best case, a large chunk of your Bitcoin gains, or worse, ask stupid things like AML questions... Do you know how they will tax your signature coins? What is their buying price? as an early miner i signed messages for most of my mining pool payout addys which are the bulk of my stack. those coins havent moved aside from sells and claiming bcash_lol/bsv and being moved to new wallets - my wallets, not exchange wallets - every so often. i printed those signed addys out and have them in safe deposit boxes etc for just such a reason (as well as .csv/screenshots on my computer and have backups etc). ive also listed buys and sells, including merchant payments (newegg, PMs etc) on my taxes over the years. i also have receipts for all my mining related gears and pics of my cards, fpgas, asics and the mining rigs from back in the day. as you said they WILL at some point want to know where that comes from. and ive cashed out amounts already that raised some pretty big flags over the years ($10,000 USD is a trigger for a flag so i try to do at least 10k withdraws when i do pull corn out to fiat). might as well flaunt it. dont want to be accused of structuring (if thats the term) to try to hide from red flags. not a peep from the irs or the bank. again, as you say, be prepared to prove where your stack came from. btw my main bank account for selling coins has no problem with coinbase and the amounts ive sold. Aside from red flags, don't you have to declare these withdrawals as some kind of income/capital gains ? |
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Dabs
Legendary
Offline
Activity: 2758
Merit: 1451
The Concierge of Crypto
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August 20, 2020, 11:56:21 AM |
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Aside from red flags, don't you have to declare these withdrawals as some kind of income/capital gains ?
There were times when it was just used as some kind of money transfer. Got bitcoin. Sent bitcoin. Cashed out to fiat. There would be no income or capital gains to declare if it all happened within an hour or something like that. |
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aesma
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August 20, 2020, 12:11:36 PM |
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You mean you bought BTC and sold it back ?
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Dabs
Legendary
Offline
Activity: 2758
Merit: 1451
The Concierge of Crypto
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August 20, 2020, 12:21:14 PM |
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You mean you bought BTC and sold it back ?
Yup. Longer answer: I bought BTC from an exchange in one country. Sent that BTC to another address, to another exchange in a different country. Then cashed out to fiat in a different bank account. It was much faster than writing a check, doing a wire transfer, and it cost me less. There were still transaction fees on both ends as well as the difference in spread. If the exchanges support a different coin or alt, I may sometimes use those, as I don't hold the coins longer than it takes to send and sell them. For this purpose, it could be any of the other major alts that both exchanges accept, and usually it's one of the other bitcoin forks or ethereum. |
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Indymoney
Full Member
Online
Activity: 742
Merit: 155
★Bitvest.io★ Play Plinko or Invest!
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August 20, 2020, 01:31:37 PM Merited by BobLawblaw (2) |
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BobLawblaw
Sr. Member
Offline
Activity: 255
Merit: 2635
Recovering former angry guy
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August 20, 2020, 01:45:18 PM |
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Shit is getting out of hand. Was just about to post this. |
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philipma1957
Legendary
Offline
Activity: 2828
Merit: 2693
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August 20, 2020, 02:02:35 PM |
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You mean you bought BTC and sold it back ?
Funny but yes he used it as a cash replacement tool  I have done this with BTC ,ETH, LTC, DOGE. MORE THAN 1,000,000 worth in fiat since 2012 No ebay sales with return issues. I do forum marketplace sales instead. Gear purchases from bitmain. How do I do them? with purchased btc. BTC purchased and sold on the same day so as to avoid cap gains issues. Dabs did coin use as a substitute for fiat. |
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