Official BGOL Crypto Currency Thread ★★★★★

[Tha Great Muta]

Something to think with Kraken

I wonder how much dude is trying to move. Cats are gonna try to move a half a mill like it's nothing...gotta have more sense than that. And shit just pay the taxes, at some point we might be able to afford a high profile adviser to show us loopholes so we can be on some Trump shit when it comes to taxes.....


BTW I'm gonna just mention Tether for if it shit gets REALLY big and we get MLB contract money. Read up on tether

 

[LSN]

I'm reading the original complaint thread and seeing possible solutions being coinbase gdax and gemini...gonna keep reading

 

[t3m.2]

can you link a bank account to bittrex so you can deposit USD into it?

Can't link bank account to bittrex.

 

[^SpiderMan^]

Something to think with Kraken

Now this sucks.Its took forever for me to set up my Tier 3 and it is taking a while for the approval process. I wanted to avoid Coinbase because I keep reading about them and the IRS. IMO the best course is to move some to various exchanges so you can divide the withdrawals into smaller amounts.

 

[largebillsonlyplease]

I don't care about the IRS I'll pay 28% gladly just put my shit in my account.

 

[Mrfreddygoodbud]

I wonder how much dude is trying to move. Cats are gonna try to move a half a mill like it's nothing...gotta have more sense than that. And shit just pay the taxes, at some point we might be able to afford a high profile adviser to show us loopholes so we can be on some Trump shit when it comes to taxes.....


BTW I'm gonna just mention Tether for if it shit gets REALLY big and we get MLB contract money. Read up on tether

yea he most likely was tryin to move something well over ten geez into his bank account...

too many details left out..

either way its still a very fucked up situation to be in..

 

[LSN]

I have to remember to be patient w/ XVG...this is how it was early on when XRP was @ the 0.006 stage

 

[TIMEISMONEY]

fucking bastards...good to know...guess coinbase is it...I am not sure but I think bittrex may allow you to withdraw $$$ into a bank account...wow that shit really pisses me off to know

@spaceage78 have you encountered anything like this?

I haven't tried to take any money out yet? When I did my first wire into them, they ask me to provide my source of income. I sent them my tax returns and they deposited the money in my account.

 

[Mrfreddygoodbud]

Now this sucks.Its took forever for me to set up my Tier 3 and it is taking a while for the approval process. I wanted to avoid Coinbase because I keep reading about them and the IRS. IMO the best course is to move some to various exchanges so you can divide the withdrawals into smaller amounts.

what about coinbase and the irs you been hearing??

 

[Tha Great Muta]

yea he most likely was tryin to move something well over ten geez into his bank account...

too many details left out..

either way its still a very fucked up situation to be in..

Hey you gotta do your homework for when you have big money. When you have stacks you have to move carefully

 

[Tha Great Muta]

Now this sucks.Its took forever for me to set up my Tier 3 and it is taking a while for the approval process. I wanted to avoid Coinbase because I keep reading about them and the IRS. IMO the best course is to move some to various exchanges so you can divide the withdrawals into smaller amounts.

Don't be too greedy. Just pay the taxes....but do your homework for any loopholes...

 

[p5ych3]

I think any US based cryptcoin company may be subject to IRS investigation. Remember how tax laws changed after the market crashed. The US have been pressuring Caribbean countries to report the holdings of American citizens.

Might to have do like Google, Apple etc and set up in a foreign country or set aside enough for taxes and have peace of mind.

 

[fourthstbully]

Can someone answer me this...
Do we have to report our earnings from crypto on our next tax returns, or do we report only when we withdraw cash?

 

[largebillsonlyplease]

Don't be too greedy. Just pay the taxes....but do your homework for any loopholes...

I don't even care about loopholes.
28% off of a 8,400% roi ain't shit.

 

[Spectrum]

I may be careful about buying a lot of bitcoin before the first of August.

Revisiting this now. You're right. That's actually really fucking scary.

 

[^SpiderMan^]

https://www.forbes.com/sites/clareo...-amazon-home-depot-cvs-and-more/#560d9f2b2de2


A way to spend Bitcoin under the radar.

 

[tonystarks1]

I have to remember to be patient w/ XVG...this is how it was early on when XRP was @ the 0.006 stage

Patience is everything in this game!

 

[Mrfreddygoodbud]

Hey you gotta do your homework for when you have big money. When you have stacks you have to move carefully

no doubt it seems like the kraken is working hand in hand with the irs..
basically the message from kraken to dude was saying..

you aint reporting this shit to the irs, and untill you do and show some proof, yo money is being confiscated..

 

[Creatine Steve]

I have to remember to be patient w/ XVG...this is how it was early on when XRP was @ the 0.006 stage

Staying down with this one.

 

[tonystarks1]

Anyone here messing with

https://exchange.gemini.com/

 

[kbanna]

Bittrex exchange has a daily withdrawal limit of 100 BTC with their enhanced account.

But does Bittrex let you withdraw USD? If not, that's just to withdraw BTC and send to Kraken or Coinbase to actually cash out. This news is not good. How are we supposed to cash out these earnings from cryptos now? No job or tax return can show justification on money that was earned at a 8000% ROI.

Unless I am interpreting this wrong, this is horrible news. What is the exit strategy now?

 

[kbanna]

I don't care about the IRS I'll pay 28% gladly just put my shit in my account.

This. I don't give a fuck, I'll pay these crooks their 30%, but I need to be able to cash out my money somewhere. WTF?

 

[Tha Great Muta]

Revisiting this now. You're right. That's actually really fucking scary.

Ok so it's don't buy bitcoins before August and at first it's don't have BTC on the exchanges after August.

What exactly is going on again???? You gotta be careful some powerful people will spead rumors to get every body scared so they can make all the money

 

[joenavy]

I second this I need to know how to set the stop limit on Bittrex

Anyone? Can't really search good from work. Setting up a stop limit on Bittrex would be much easier than staying up all night tomorrow waiting on the news out of Singapore.

 

[tapdatass]

I have to remember to be patient w/ XVG...this is how it was early on when XRP was @ the 0.006 stage

exactly cuz i know the exact second that i sell, its going to skyrocket....

 

[CurtDawg]

Coinbase withdrawals seems pretty seamless

I just cashed out about $4,000 a couple days ago
Transferred BTC from Poloniex, to Coinbase, and then deposited it to my BankofAmerica account
It only took 2 days for Coinbase to transfer my money

 

[Tha Great Muta]

Coinbase withdrawals seems pretty seamless

I just cashed out about $4,000 a couple days ago
Transferred BTC from Poloniex, to Coinbase, and then deposited it to my BankofAmerica account
It only took 2 days for Coinbase to transfer my money

Yea you can do directly to your account or paypal to your account.

It's just finding a method that will take the least fees from you

 

[Spectrum]

Ok so it's don't buy bitcoins before August and at first it's don't have BTC on the exchanges after August.

What exactly is going on again???? You gotta be careful some powerful people will spead rumors to get every body scared so they can make all the money

It's a technical issue and it's real: https://forums.prohashing.com/viewtopic.php?f=11&t=1541&resub

 

[Moving Target]

I think any US based cryptcoin company may be subject to IRS investigation. Remember how tax laws changed after the market crashed. The US have been pressuring Caribbean countries to report the holdings of American citizens.

Might to have do like Google, Apple etc and set up in a foreign country or set aside enough for taxes and have peace of mind.

Me and a friend are working on exactly this issue. I am waiting from some of my overseas contacts......sometimes its good to be a veteran with contacts all over the world. as soon as i have some viable info, ill post it. bc goghle and apple get away with this stuff too. and under our current system...corporations are considered people ...remember that! soooo im all for minimizing my tax liability too. i dont mind paying at all.

 

[kbanna]

Coinbase withdrawals seems pretty seamless

I just cashed out about $4,000 a couple days ago
Transferred BTC from Poloniex, to Coinbase, and then deposited it to my BankofAmerica account
It only took 2 days for Coinbase to transfer my money

Yeah that works, but what happens when Ripple, XVG, or Digi hits? Are we stuck taking $4,000 out a week for 2 years to get our 2 mil out? There has to be a way to get these funds. All of us are on hear busting our ass and loosing sleep to research these coins and invest our hard earned money. I know this shit is basically a 2nd job for me at this point.

You mean to tell me there is no way to extract our earnings? So we are doing all of this to look at our fictional money on an exchange and we may or may not be able to touch it?

 

[Confucius]

I have to remember to be patient w/ XVG...this is how it was early on when XRP was @ the 0.006 stage

this crypto has spoiled us. We now get upset when a coin does not pop within 72hr. We thumb our nose at 25% profit in one day. That is a good thing though

 

[trstar]

This. I don't give a fuck, I'll pay these crooks their 30%, but I need to be able to cash out my money somewhere. WTF?

There was some expectation that taxes would be avoided with cashing out? LOL!
You will have to account for those new gains somehow.

 

[Moving Target]

better stay holing onto that ripple fellas...the big boys are eyeing the major ones.

http://www.cnbc.com/2017/06/06/crypto-asset-fund-aims-to-raise-400-million-for-blockchain-deals.html

 

[Confucius]

Yeah that works, but what happens when Ripple, XVG, or Digi hits? Are we stuck taking $4,000 out a week for 2 years to get our 2 mil out? There has to be a way to get these funds. All of us are on hear busting our ass and loosing sleep to research these coins and invest our hard earned money. I know this shit is basically a 2nd job for me at this point.

You mean to tell me there is no way to extract our earnings? So we are doing all of this to look at our fictional money on an exchange and we may or may not be able to touch it?

no. There are many ways to convert to fiat. The cost varies depending on the method

 

[kbanna]

no. There are many ways to convert to fiat. The cost varies depending on the method

Ok can you (or someone) discuss these ways? Because Kraken, which was my out, seems like a dead end now that they want you to send them tax returns from your job that can explain the amount of money your trying to withdraw. My Job's tax returns cannot explain me trying to withdraw 2 million dollars.

Any suggestions would be appreciated.