/biz/ - Business & Finance

>>28238345
Yes, about $4M.

>>28238345


ive taken out $8mm

>>28238391
>>28238450
What did you buy with it?

I tried taking 10 dollars out of binance once but it didn't work

>>28238345
What do you mean by out?

>>28238493
Buy?

>>28238450
>>28238391
how did that work out? could you withdraw it all at once or have to take it out incrementally?

>>28238518
kek

and to answer OP: no, my crypto is safely stored on a laptop in the middle of a landfill, no one will ever steal it from me

>>28238584
Taken it out of your crypto account.

FYI the IRS knows about it

>>28238450
what the fuck is the mm shit!?

>>28238391
>>28238450
Did you get audited?

>>28238493
Ignore that other post, misread yours. I used most of it to pay taxes, some to give to my dad so he could retire, some on stocks, and some to keep in my bank account.

>>28238391
Fpbp
>>28238450
Spbp

>>28238721
LARP as fuck

>>28238641
And all this time you looked at all these gains and never got back in because you're salty you misplaced big money?

>>28238391
>>28238450
how'd you guys get to that much? im only worth 2.5 m from chainlink and pretty pissed off about it

>>28238641
Lol i remember this when it was on the news

>>28238793
This. Nobody pulling money from crypto would put it all on other stuff. Sure, diversify, but any idiot can see this is where the gains are for the foreseeable future.

>>28238868
I got back in but not multi-millionaire, we'll see how my current picks play out

Ring ding ding mmmmyessss ok I withdrawing 5 bippity bops from the cryptings ok sir mmmmmyess bippity bip ding ding

>cash out
>crypto
who wants to tell him?

>>28238676
million million

>>28238638
Some smaller withdrawals, and recently some larger ones. My largest one was €900k.

>>28238681
No, but I did have to go through KYC stuff with my bank and stock broker.

>>28238889
Started in 2013 and I've mostly just taken out smaller amounts and left the rest in crypto, so it's turned into a lot over the years.

>>28238676
you dropped out didn't you?

>>28238889
Why didn't you ever take some profit and get in on defi?

>>28238345
Yes.
PS: Fuck taxes.

>>28238889
lol pathetic

>>28239048
didn't stop me from getting a degree, nigger

>>28238666
About what? What do you mean by Crypto account? I don't have one of those.

>>28239071
How much did you pay and how did you do your taxes? did you have to through each transaction you ever did and list it?

>>28238345
you can't cash out

>>28238391
About to start with 1k
Am I gonna make it?

>>28239170
Obviously not in finance. I hope to god it was stem-related, but I know it was wildlife conservation. Am I right anon?

>>28239063
i fell for the 1000 eoy meme and justified by not wanting to get hunted by the IRS just yet

>>28238676
He took 8 bucks out to buy M&Ms candies. What do you think?

>>28239043
Norge whale bro?

>>28238676
millimeters, he was referring to his 8 millimeter cock

>>28239269
Maybe? You're a bit late, but I can assure you, there will be a lot of opportunities.

>>28239364
Yes.

>>28239269
If you don't get in your own way.

>>28238952
No, I would definitely diversify into regulated boomer stonks.

>>28238345
>cashing out
Ohh no no no no

what's the best way to turn my coin on metamask into cash without getting fee raped

>>28239043
If you used defi at all, how did you do your taxes? Defi taxes are a nightmare.

>>28238345
>cashing out?
No, because crypto is not real money.

>>28239010
>He doesn't know that crypto is just for fun and that the numbers aren't actually worth anything.

>>28239269

Sir I assure you sir you will indeed make it sir, you will no longer need to shit in the street sir like my fathers and fore fathers sir, bippity bops dont slip in the slop sir

I want to take some six-figure amounts out but I have no idea what to do with the money. Feel like stocks aren't safe right now.

>>28239402
based, will you cash out a larger sum through some OTC deal or can you still get easily filled on a normal exchange at your size?

>>28239422
It's hard man, when you don't have a lot losing a couple a hundred of bucks hurts.
Panic selling is real.
I want to 10x in a week.

>>28239317
Accounting, actually
And the only time I ever saw an mm was in my welding, carpentry and electrical trade skill courses

>>28238676
a minor million, this is what people call 10k in Nebraska

>>28239191
Close to 2 mil. Up until that point all I had done was buys so I just downloaded the transactions report, summed them all up, took that from my sale price and paid my rate against that. Didn't hear anything back from the gov and its been over a year so that seemed to have done the trick.

>>28238345
>he thinks the government lets you withdraw your monopoly money

>>28239574
I wonder do you think owning a designated shitting street cleaning business be profitable?

>>28239457
I don't do yield farming or provide liquidity because I don't want to deal with the implications that might have when it comes to taxes. When it comes to just straight swaps though, it's fairly straightforward, so I use that part of DeFi.

>>28239589
I'll probably just use Bitstamp like I always have. If necessary, I can also use Kraken and Binance.

>>28238345
I've taken my money out of Coinbase and into Binance, its easy to do but has some small fees.

>>28239581
LICs mate.
Investment companies with diversified port folios that focus on going long.
You won't make lots of money but will achieve a steady 10% growth over 10years.

>>28239652
Unironically just go in on litecoin. It will undoubtedly hit 400 in the next couple of months, and it could very easy go 750+. It's the safest bet with a small amount of cash, you could build your portfolio with the gains. After that you need to take your cash out of the market and hope you can get cheap linkies or ethereum and then hold and accumulate.

>>28239836

Minimising the slipping in the slopping is number van priority sir a hitting street is a fantastic inbestment obbortunity sir ding ding

Let me crunch the numbers sir and we will do business right away sir ping pong ping pong bippity bop

>>28238391
300K after taxes
enjoy the roads goy

>>28240054
Cheers mate. Will look into lite.

>>28239690
LOL, thanks for the chuckle

>>28239660
sorry for dicking on you, anon. MM is 1 million in roman numerals. It comes from M which is 1000, therefore M*M = 1 million. I'm surprised you never saw this in accounting, I have an accounting degree myself.

>>28238345
29M

>>28240269
It's known to crab around $50-120 usually, getting in at 170 isn't the best get, but still a lot of earning potential with very little risk long-term

>>28240213
Very wrong. 22% capital gains tax, no limit on deductions for capital losses, and I'm free to choose the accounting method for inventory management. LIFO, HIFO or some custom method is allowed.

>>28240424
Here I was going to jump in on a meme coin in the cents range for quick gains.

>>28239347
Well that's how money gets made in crypto if you're not moving big stacks of Bitcoin. Defi is so hot, this market is scorching. Crypto is a fast changing game, you need to stay on the bleeding edge for maximum gains. Chainlink is great, but it's already being built on. You're trying to hold the network when stuff is already building on top of it. A server farm is great but Amazon is better, get it?

>>28240468
What country for tax purposes?

>>28240808
Norway.

>>28240829
22% sounds nice
Anything over 180k per annum here in Aus is hit at 40%

>>28239347
At $2.5mm you can hire a competent accountant to help you out.

>>28240970
Yeah, over the years I've come to realize just how good it is here compared to a lot of other countries. And I don't care if you all call me a cuck for it, but to me it feels right to give back. I've benefited a lot from taxpayers' money in this country.

>>28240468
wait what the tax is only 22% on capital gains in Norway? I should unironically move there

>>28242051
Yep, and even less if you live in certain parts of northern Norway. Like 18% if I recall correctly. I forgot to mention though: there is a wealth tax too of 0.85% of your net wealth on top of that.

>>28240468
Very wrong. I live under ZOG. The spic-nig cycle continues. It grows even now. The American ouroboros.

>>28242594
>there is a wealth tax too of 0.85% of your net wealth on top of that.
ok normally this would suck but when it comes to crypto gains it is still preferable to a higher capital gains tax

Don't tell me you niggers are using DEX and reporting every single trade. You guys know that Tornado protocol and Monero exist right? Why the hell are you even using CEX anymore at mid 5 figure to 6 figure range? DEFI is the future.

You guys do know that the IRS are in a backlog right now right. You do know that Western countries will collapse within a year right? You guys do know that Revenue collection agency that are not IRS are complete joke right?

>>28238676
i hate you.

>>28239969
>Meanwhile, the number of countries that address the taxation of tokens obtained via staking stands at just five: Australia, Finland, New Zealand, Norway and Switzerland.
https://www.coindesk.com/library-congress-report-staking-mining-tax

>>28243210
Most definitely. There are also ways to reduce what is counted towards your net wealth because of how things are valuated. Crypto is valuated at 100% of its market value, but stocks are only valuated at like 55% of their market value, and the house/apartment you live in is only valuated at 25% of the market value (and 90% of any others beyond that). So by moving a lot of my crypto holdings into stocks, which I'm slowly but surely doing, I can reduce that tax.

>>28240053
Interesting, will look into. Going to be cashing out a lot this year as link keeps climbing.

>>28240053
>steady 10% growth over 10years.
Dave please leave

>>28245062
Cash it dude. Tonight.

>>28240792
you're equating Chainlink to a server farm?

>>28244128
>So by moving a lot of my crypto holdings into stocks, which I'm slowly but surely doing, I can reduce that tax
That's smart. Interesting that they "punish" you 100% for holding crypto but only half that for stocks.

What are some comfy places to live in Norway in your opinion? I have never met a Norwegian I didn't get along with. You all seem very chill.

>>28245715
You know what also reduces tax? A tax haven free of everything except maybe a relatively small sales and land tax.

I've made ~250k from Link, I held a ton from the predollar days, and sold half at around ~16.30?

>>28239005
lost

>>28245955
the very few actual tax havens that exist fall under 2 categories
1) massive shithole
2) need to be very rich to even consider it

>>28246418
Crypto is about getting very rich and those massive shit holes are popular comfy tourist destinations. Beats living in either American or Canadian urban shit holes.

>>28245715
Depends a bit on what you're looking for. If you want the city life, Oslo. If you like mountains and skiing a lot, maybe Lillehammer. Personally, I'm into the more cozy feel from the various coastal cities and towns we have. Places like Bergen and Ålesund are right up my alley. I studied in Trondheim for a bit and liked it too. And if you don't mind the cold weather of Northern Norway, Tromsø is nice too.

>>28246977
Thanks for the suggestions, Ålesund looks comfy as fuck

>>28246750
When you get very rich you will not mind paying some taxes to get to live in a nice place / your home.

>>28246977
We're hitting levels of comfy that shouldn't even be possible.