/biz/ - Business & Finance

Lol

>>30369562
no, hodling until I get paid in shitcoins

Cash out? What does that mean? That phrase isn't in my vocabulary

>>30369814
In the context of cryptocurrencies (=gambling)

>>30369562
CANT CASH OUT AAAAAAAAAAAAAA

>>30369562
>cashout
>fake monopoly internet money
dont tell him yet

Transfer to exchange, convert to your currency, withdraw currency to bank.
Never has any step of this process caused me an issue. I don't understand what your question is about OP.

>>30369562
You can't man

>>30369562
>fiat being real money
>crypto not being the actual money

What year are you hailing from??!

>>30369562
>cashing out
ewwww, paper money is pig disgusting

>>30369562
Used Coinbase once - expensive as fuck and i hate them
Used Kraken a lot - cheap and fast with Sepa, but leaves huge money trail
Now i use Binance card to pay with it and withdraw at ATM - cheap, fast and hard to trace
Card is good for 290$ daily at ATM, for huge money tho will have to use Kraken again.

>>30369562
You and your crypto are here forever.

use binance

>>30369562
https://shopping.io
https://www.coinsbee.com

here you go

>>30369985
>sir you can’t cash this out... this isn’t real money
I think op is afraid this will happen

>>30370253
>hard to trace
by whom?

What exactly is the hard part? Can't you just sell it for USD like any other currency?

>>30369562
When the imminent crypto rug-pull happens it will fierce and brief and you will be able to cash out nothing

>>30370383
the gov

>>30369985
Well I'm glad to hear it. I get the cold sweats thinking I'll lose it by getting hacked, government deeming it illegal etc.

>>30370383
https://www.youtube.com/watch?v=l0zaebtU-CA

>>30369562
Nope

You can't cash out.

>>30369923
How is it less real money than fiat? I work at a bank and when I heard about fractional reserve banking I was appalled. It's a legalised con game. When you apply for a mortgage they simply conjure the money out of thin air at the press of a button. You now work for them for the next 25 years. It should be illegal.

>>30369562
just convert to a stablecoin like USDC and get the debit card your exchange offers.

>>30370294
I do use Binance. Just never tried cashing out yet.

Imagine converting to a currency when 25% of its supply was printed in the last year kek

>>30369562
I wondered this too. Even though I lurk here and still haven't even got started buying crypto I'm not sure chase the bank I have will accept crypto. I just know they refuse crypto purchases using their credit card

Nope

I buy shit with flexa app occassionaly at gamestop

Why would you ever want to cash out

>>30370404
I fear this. The only thing I think guards against this is that too many powerful people and corporations are involved now. When they pull out then I'll worry.

>>30370436
lmao what

>>30370580

25%?

More like 85%

>>30370583
I buy on my bank card so surely they will accept the reverse.

>>30370492
read a book

I use bitstamp and cashed out millions in 2017. My bank closed my account because they thought it was suspicious. I opened new accounts at several different banks and told them I would be chasing out large sums from crypto. Haven't had a problem since

>>30370668

No...gemini or coinbase will take money from PNC but PNC wont accept from either for me.

Etrade checking account is the based golden ticket..they take anyone..no fuss. Takes 2 seconds to setup

>>30370583
>>30370668
it is simple to open a new bank account which does accept if not

>>30370404
Oh it’s metal doomsday garbage. Fuck off

>>30370651
the dollar is so fucked

>>30370808

Sure ism.. went grocery shopping today at walmart. Everything up atleast 15%

$187 didnt get me shit

Lol why cash out buy more:

https://www.coingecko.com/en/coins/fiscus-fyi

>>30370668
>>30370734
I was looking at ally which seems to be pretty solid to have, with the one big downside I remember being you can only withdraw a few times, like 6 times a month before they start taking subsequent fees after the 6th time

>>30370731
But when I buy crypto my bank statement acknowledges this as "buy digital asset". How can they allow this one way but not the other way? If trading in crypto is deemed suspicious then they should allow no transactions.

do you think buying property with crypto/precious metals will become a regular thing in the foreseeable future? are there any legal ramifications associated with bartering for houses without fiat currency?

Surely there's somebody out there willing to sell their house for a wheelbarrow full of silver/gold and/or 'x' amount of some valuable crypto.

>>30370628
All that matters now is what Asia does; that's where the production lies; American corporations are toothless

If Asia demands production in exchange for gold on Monday, the dollar (and tether, and therefore crypto) will immediately plunge to zero

>>30369562
I cashed out 15k with just a $250 fee. Coinbase.

>>30370253
withdraw from binance from an atm? wouldn't that have much more of a trail than anything else. You need to verify to get a card. What country?
inb4 third world

>>30370752
>sToP sAying DoOmSDay GarBage MeTalCuCk
>Also, everybody buy my scamcoin RIGHT NOW, we're about to go into hyperinflation

>>30371107
If you can buy a Tesla car with crypto then just buy ten, sell them for fiat and buy the house.

>>30370628
>>30371249

Also, I'd add to this, look at previous cases where large numbers of wealthy institutions were deeply embedded in something and then it collapsed. The Dotcom Bubble, BREX, etc. Thinking with the herd for the herd's sake has never gone well.

I highly recommend listening to this new interview with Alasdair Macleod, "Bitcoin Will Die Along with Fiat Currencies." Hear what he has to say with an open mind.

https://youtu.be/0ecSb8l8wC0

>>30371107
governments tax on local currency no matter what, crypto is so up in the air they double dip from taxing it as capital gains and on usage within sales. Depending on country ofc but I suspect that to hold true for most 1st world countries.

>>30370383
Like IRS in burgerlandia, but here have a different name.
>>30371279
From Kraken/Coinbase you receive the money on your name in your bank account from Kraken, bank see this info and its there and if its big amount it triggers something for sure. Now imagine 250$ withdrawal on ATM via two payment processors at least(maybe more) - Swipe/Binance/Visa. Crypto is converted on the fly and i doubt anyone notices this small amount. Its Eastern Europe.

>>30369562
Fiat isn't safe and it's coming crashing down.

>>30370026
but anon, fiat isn’t real money

>>30371020

Bro...talk to you bank. Pnc has no problem sending money to exchanges for me but wont accept deposits

>>30370872

Im a wagie walmart poorfag that does price changes, and this is purely anecdotal, but shit like cheez-its and pretty much every other food item has gone up atleast 30 cents in the past two weeks in my area

>>30371424

Thats the thing. I mentioned i use crypto at gamestop alot....there are a couple place i use it...but its a fucking taxable event. It creates a fucking mess in april

>>30369562
>converting to fiat
NGMI

>>30371588
Here in the UK it becomes a taxabale event when you convert to fiat and subjected to 20% capital gains tax on anything over the tax-free allowance of £11,000 per tax year.

>>30371917

Yeah its not going unnoticed. Based on the amount of money printed im expecting anywhere 100-300% inflation before the summer.


As more and more shit reopens the velocity of money will definately go parabolic

>>30371917
based wagie with the price reports.

>>30371958
Until you can buy houses and food and clothing with it then what fucking use is it.

>>30372054
Bro i wish i saved the tags, ill save more as i do them, they are dated, the cheez-its stuck out to me in particular because the price bump was so insane last week

I cashed out in the UK. Swift transfer from kraken of £100,000 went through and was in my account in a couple of days. Bank never even asked a single question.

>>30372035
Yeah, I meant more along the lines that its bullshit that they tax it as an asset, but if you (as a merchant) wanted to accept it as currency (which I believe is the true worth of bitcoin/ blockchain) then you are getting taxed on the sale, and holding it because it doesn't hold the currency exemptions (it should). imo.
Also in terms of tax free allowance with crypto (in the uk atleast) I believe your allowances is based proportionally on bought price, so if you buy 1 btc for £10, then sell 0.5 btc for 500, you would have £5 allowance for that 1 btc, making the taxable gain £495. With whatever you're still holding maintaining the remaining allowances, unless it goes on for so long. I might be wrong, but i've been reading a lot of tax lately. t. acc in training.

>>30369562
Why do you want filthy filthy fiat?

>>30372135
No tax demand?

>>30370404
>invested in blockstream
>that means they control the whole crypto market

this is extremely retarded, not surprising since it comes from reddit

>>30372277
Good to hear. I was worrying that if I put in £25k and cashed it all in for £30k they would treat the whole £30k as capital gains. I don't mind paying fair tax.

>>30372117

You can.

Just use flexa

But again you create fucking taxable events everywhere

>>30372318
>Bitcoin may be an unusable scam but my shitcoin is the real currency which will replace gold

How do you get on Binance if you are in NYC, USA

>>30372646
Be chinese

>>30369562
Never had a problem. Took out some from coinbase this week to cover extra bills. Took them 1 day.

>>30369985
Sure thing, but what about taxes?

>>30372135
was this recently? you will surely be flagged

>>30370404
>buy gold
dilate

>>30373028
...just like with anything else, you either declare your gains and pay them or you roll the dice and do not. What is there to ask?

>>30369562
Im convinced no one is actually cashing out and holding until they go broke.

>>30373147
>buy gold
>dilate

>>30369985
Nice try jew man, its literally impossible to cash out ever

>>30369562
Never cash out. You dont need to. If you won from a trade, take your winnings in BTC. BTC is the reserve currency. You can buy whatever you want with BTC, but if you need fiat, BTC is the easiest to convert anonymously.

>>30371454
>open video
>some old fuck sitting in an empty house
Woah guys SELL EVERYTHING

>>30374179
>your dad will never use the word shitcoins
Feels bad

>>30369985
demoralization thread

>>30373090
Has to be flagged. I work in security and that screams drug money/terrorist financing.

>>30374003
You deserve to lose all your money.

>>30374740
>my prediction is probably more correct than your prediction
kys

>>30370404
>>30371249
>>30371295
>>30371454
>>30372438
>>30373811
>>30374740

>>30369562

Buy Gold and Silver then sell it in your local area.

>>30373090
i dont understand, cant they just understand it comes from a reputable exchange?

>>30370431
wow. there will be like 3 people who do this and one of them will be mark cuban

You should have quick fiat gateway in your local currency

In my case, it's a local normie exchange that can easily cash out and buy spot with local currency.

I just transfer fiat to this normie exchange to buy BTC
To cash out, I just press sell and transfer to my bank and I can withdraw in fiat at ATM

Crypto debit card would make cashing out easier. It's just not available yet in my country

>>30369562
Just wait 5 years and you'll be able to buy 70% of what you need with crypto, directly.

You can bullion directly with crypto from big dealers. Then sell the bullion.

>>30369985
>I don't understand what your question is about OP.
He made money on the darknet. That's were the term "cash out" is used commonly.

just pay your taxes lmao

>>30375749
I was thinking about this too. Do those cash 4 gold places in strip malls give decent rates on gold? A clever individual could do this to get around income tax if the store gives close to the gold rate

>>30377178
You need to shop around ahead of time for a dealer that will offer close to if not spot. I have one in my area and he offers practically spot and also stacking sats. He’s based and I want to eventually be someone like him

>>30370872
I hate that I'm about to shill my wagiecage, but Trader Joe's genuinely has the lowest prices on everything except meat. In average you will cut 25% off of your bill for food that has no preservatives or other weird shit in it. Only onions and salt in everything. Actual top quality, not shilling. Its a true gem if you can put up with the crowds and the pretentious commie employees, and I can not begin to make you understand how much I hate my employees. I constantly have to go in the break room and throw away home printed pamphlets on gender n shiet and deal with complaints about "micro-aggressions". Sorry for ranting. Also you should be buying food in bulk anyway bruh

>>30369562
>he want to cash out

>>30369562
You literally just take the same steps you took to buy crypto, but now backwards. What's the difference?

>>30370651
>(DISCONTINUED)
Surely this means the situation is under control and we should stop worrying about it.

>>30377785
You are very lucky to have this guy and are gmi

>>30370713
>Self proclaimed bank employee states common knowledge concerning fractional reserve banking
>"read a book"
>t. pic related.

>>30369562
You can't cash out into real money. Its not a meme.

Convert to BTC, dump in CashApp wallet. Convert to FIAT. Deposit.

Then just bend over for taxes.

>>30380510
How's cash app different that Kikebase Pro?

>>30375183
they're just making shit up. Kraken, Binance, and Coinbase withdrawals happen all the time well in excess of 100k. I've never heard of someone being blocked from withdrawing to a major commercial bank. That's what the fucking KYC is for.

>>30369562
that's soo weird need assistance goy? fuck the government! no more fiat lies!

what is even the point of crypto if it isn't anonymous enough to avoid taxes? like seriously

You can buy stuff directly with the flexa app in some stores I think you avoid cap gains doing that too

>>30370431
Texas is not a crypto friendly state. Maybe he could help to give their loser government some vision and direction.

>>30382172
retards guiding retards, perfect

>>30369985
have fun getting put on a terrorism watch list and becoming a target for the IRS

>>30381696

This

>>30372301
Only did this last week. But I'll be paying tax anyway. Too large an amount to hide.

>>30369562
If you don't need it for another several months I wouldn't worry you'll be able to pay in crypto for many things soon check out PCI for example.

>>30373090
Last week. Thought they might freeze my account or phone me to ask some questions but no, nothing. Have even transfered over £35,000 back out of my account and into a stocks & shares ISA so it looks like they don't give a fuck, which is the opposite of what I was expecting. But I've been with the same bank 15 years so maybe they trust me? Who knows.

>>30382567
That's how it is with the IRS too, they expect you to know to give to them. I don't know with crypto but with brokers if you fail to pay taxes in a timely manner they'll set up for taxes to be pulled from profits when you sell.

>>30369562
How the fuck are you people not able to just cash out to your bank account? like that shit is literally instant for me...

>>30369562
Gift cards anon. bitrefillDOTcom.

>>30369562
I tried but looked at the capital gains. Not interested in paying 40%. That's just fucking criminal.

>>30381290
You can be a bit more creative about where it goes in Cashapp