In America, what’s a viable way to cash out of bitcoin while avoiding taxes?

In America, what’s a viable way to cash out of bitcoin while avoiding taxes?

Other urls found in this thread:

bitcointalk.org/index.php?topic=2637444.0
twitter.com/SFWRedditGifs

bitcointalk.org/index.php?topic=2637444.0

/thread

Hold for a year, sell, claim it as a long-term investment, pay 15% tax.

I don't think it's a good idea to avoid paying taxes on a form of currency that most people see is a way to skirt the law.

15% is a small price to pay compared to some sweeping IRS program designed at catch everyone who lied on their taxes using Bitcoin, a currency people used to buy illegal substances, other people,

>Buy bitcoin
>Sell for private cryptocurrency
>Get a drop
>Buy drugs, guns precious metal and gift cards
>Sell those
It isn't worth it

Just pay your taxes

Welp... looks like we've arrived at this point again. Where another poor soul finally realizes that crypto is a scam because you can't cash out.

You LITERALLY can't fucking cash out. Seriously, try it.
You wasted all your money on internet bucks. There is no way to convert it back to fiat.
All those "exchanges" that claim to deposit your money into your bank?
Those are scams, the deposit never goes through.
All those people saying it isn't a scam? They're shills for the scam "exchanges."

Anyone who tries to refute this post is a scammer shilling for scammy exchanges.

step one is to post about it online

Nah there’s actually ways to do it

Paxful is my favorite

hahaha, let me ask you a question, HAVE YOU TRIED to cash out? at least ONE fucking time?
If you haven't go and see for yourself.
There's plenty of people on the internet already realizing it, that it's all a sham, and this shit is going to explode at any time.
Consider all your investment a loss and just start investing in REAL things instead of "muh digital assets".
Don't say I didn't warn you.

I literally have been cashing out all year. What are you going on about?

you are trying too hard to become the new Canada

I literally cashed out yesterday.

posted from my Mac Air

I get deposits into my debit card all the time

no bank connection.prepaid bluebird

Go ask your local synagogue.

You guys are fucking nuts if you think there aren't SERIOUS issues cashing out major crypto money.

I went in hard to ETH last year and made over $700k. Not only was paying the taxes a complete clusterfuckx but the moment I filed and sent the checks I got hit with an IRS audit. Then three visits and counting from FBI guys.

Yes, I used a professional CPA. I'm now paying lawyer fees out the yinyang and the FBI is combing through every nook and cranny of my life. They think anything related to crypto is drug money or laundering.

God help you if you're trying to cash out six figure gains. You can't even enjoy them without fearing pound me in the ass prison.

It isn't even worth it if you aren't cashing out at least $100k. Crypto is automatically criminal in the eyes of the Feds and you will spend that much in lawyer fees on top or your taxes just to walk away free.

find local buyers with Electrum

you can exchange your bitcoins for slaves, then exchange your slaves for cash

dude I cashed out 2000€ via bitcoin.de two days ago

This is only good for cashing out small amounts

What about larger amounts like $100k?

*Mycelium

yeah right, let me tell you a story

>be me
>be thanksgiving, family all laughing and joking, asking me when Im going to get a job or even pay rent
>tell them im actually a successful crypto trader, its been going so well i recently became a millionaire
>they all laugh
>show them my blockfolio
>i try to explain bitcoin
>uncle downloads blockfolio, types in 1,000 bitcoin, starts showing it around saying hes a crypto millionaire too
>everyones laughing
>tell them its true and i can withdraw from a bitcoin atm
>convince my family to take me to nearest bitcoin atm, 2 hours away
>they wanted to go to this city anyways for shopping, tell them ill buy some gifts for christmas
>arrive at atm
>atm only allows you to buy bitcoin, not sell it
>family getting impatient
>"enough user, your joke is going too far, lets just go to the mall now"
>i ask the convenience store clerk how do I sell with the atm?
>he doesnt know what im talking about, "only buy, you buy here"
>aunt goes up to the atm with a $20 and pretends it came out, look user, I sold my byte coins, how come you cant sell yours?
>everyones laughing as they head back to the car

im fucking done, you guys are worse than Sup Forums, idk how you got this scam so big in the first place

Just pay the fucking taxes on it, your gains are massive anyways unless you just bought in

>try to cash out
>Coinbase freezes my account, doesn't reply to calls or emails
>OK still have 70% of my porfolio on another exchange
>eventually cash out with massive bullshit and fees
>few days later,bank freezes my account
>IRS at the door
>tax evasion
>charges linked to some silk road transactions i made years ago they linked my wallet to

Holy shit guys its true, you can't cash out, I wish I never even got into crypto plz kill me