vapourminer
Legendary
 Offline
Activity: 3024
Merit: 1642
what is this "brake pedal" you speak of?
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August 20, 2020, 02:15:32 PM |
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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.
Aside from red flags, don't you have to declare these withdrawals as some kind of income/capital gains ? yup. i use bitcoin.tax to keep track of everything (mining/buys/sells). does a lot automatically based on imported exchange data, mining addys and then some manual inputs for merchant stuff. prints all the forms i need (plus .csv files) and i just hand it to my accountant. it figures the cost basis of mined coins (income) based on payout addys as it knows the time the payouts happen. capitol gains etc are based on that stuff (bought coins/mined coins) and when i sell. not endorsing that particular platform its just what ive been using for years. |
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JimboToronto
Legendary
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Activity: 2716
Merit: 1865
You're never too old to be young.
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August 20, 2020, 02:17:14 PM |
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Good morning Bitcoinland. Sideways ready for another run at $12k... currently $11822USD/$15634CAD (Bitcoinaverage). We're waiting Bitcoin. Go Bitcoin go. Reminds me of this oldie but goodie:  |
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LFC_Bitcoin
Legendary
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Activity: 2240
Merit: 3802
One of the world's leading Bitcoin-powered casinos
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August 20, 2020, 02:32:10 PM |
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Toxic2040
Legendary
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Activity: 952
Merit: 1866
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August 20, 2020, 03:29:16 PM |
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aesma
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August 20, 2020, 03:34:35 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. I see. In that case nothing to declare, but in my country it would have raised some red flags for sure. And nowadays you'd have to declare everything, and pay nothing if no gains have been made. |
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Dabs
Legendary
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Activity: 2758
Merit: 1451
The Concierge of Crypto
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And nowadays you'd have to declare everything, and pay nothing if no gains have been made.
Yup, blockchain says the coins transferred from address A to address B at a certain time. Then it shows coins transferring from address B to an exchange deposit address in the same day (or same hour). No gains, no losses. And I had a boating accident, dropped my gold over the sea. |
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LFC_Bitcoin
Legendary
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Activity: 2240
Merit: 3802
One of the world's leading Bitcoin-powered casinos
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August 20, 2020, 03:50:54 PM |
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And I had a boating accident, dropped my gold over the sea.
Crazy how we all keep losing assets at sea. |
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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, 03:52:10 PM |
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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. Fair enough in terms of being able to ONLY do what you are able to do. If you are relatively young, then you have a lot of years to allow your investment in bitcoin to continue to grow, too. No need to wish for down BTC prices, merely just continue to invest in BTC, maintain a plan for up, down and sideways by continuing to dollar cost average investing, buying on dips, HODL.. and maybe even shave a bit off on higher price swings, while continuing to work on implementing and tweaking your plan along the way to the best of your abilities to attempt to accumulate as many BTC as you believe is reasonable for your situation - including if you would like to arrive at some kind of "fuck you" status, some day in the future. |
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El duderino_
Legendary
Offline
Activity: 1218
Merit: 4229
Let's moon together #DUDEphilosophy
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August 20, 2020, 03:53:51 PM |
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Retest 12K??
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Toxic2040
Legendary
Offline
Activity: 952
Merit: 1866
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August 20, 2020, 03:56:28 PM |
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Good morning all stretching done..time for fun #dyor 1h  4h  #stronghands |
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Toxic2040
Legendary
Offline
Activity: 952
Merit: 1866
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August 20, 2020, 05:02:36 PM |
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newish short fib targets #dyor 1h  4h  #fuckoffjuansnow |
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Toxic2040
Legendary
Offline
Activity: 952
Merit: 1866
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August 20, 2020, 05:25:20 PM |
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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, 05:31:21 PM |
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xhomerx10
Legendary
Offline
Activity: 2548
Merit: 3248
Aceeasi Marie cu alta palarie
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August 20, 2020, 05:40:36 PM |
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That hairline, the resemblance... could they be related?  |
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LFC_Bitcoin
Legendary
Offline
Activity: 2240
Merit: 3802
One of the world's leading Bitcoin-powered casinos
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Wekkel
Legendary
Offline
Activity: 2632
Merit: 1272
yes
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August 20, 2020, 07:16:08 PM |
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*Wekkel wonders whether that $1B USDT will be used to buy Bitcoin or pump that DeFi hype to heaven  |
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Hueristic
Legendary
Offline
Activity: 2520
Merit: 1747
Doomed to see the future and unable to prevent it
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August 20, 2020, 07:17:13 PM |
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hey JJG
stfu
I love having a day named after myself...  Is it pride?
STFU
Not often you can get a double in like that. |
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Toxic2040
Legendary
Offline
Activity: 952
Merit: 1866
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August 20, 2020, 07:42:42 PM |
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WTF, Tesla stock. W.T.F.
Terrifying for the poor pleb investors.
and robinhood and TD A down...again... these guys been studying the crypto exchange playbook grabbing legacy auto by the va-jay-jay  #RIPLegacyAuto truck and semi are coming guys..look out as with bitcoin imho..things are just getting started some are talking 10k a share    |
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