/biz/ - Business & Finance

>>9255513
Easy my man, open a shelf corporation in Delaware state, along with a new bank. Offer some type of bs service to yourself, pay yourself (to your Delaware company) with the cash and take it to a bank there say it's sales revenue

I do this in LA. Set up a holdings company that handles the money.

>>9255513
are you retarded? you're on biz... you know they're gonna say crypto

>>9255513
open a strip club and funnel some moneys

>>9255540
Uh, that's illegal.

Ill sell you bulk BTC OTC for cash in hand. Can meet in L.A.

>>9255513
https://www.greencheckverified.com
Send me an email at decentralizedsupport@protonmail.com and I can get you in contact with the CEO, I know him from the local blockchain meetups

>>9255562
transacting large amounts of cash for crypto sounds like a dangerous proposition.

>>9255513
Shit larp

I'm pretty sure some bank will take incasso or cash deposit and do backwards accounting for you
>>9255540 is offering blatant tax fraud, jeez

>>9255589
Nothing can go wrong.

>>9255579
Do it OP, cryptocurrency is the future. Be your own fucking bank

OP which dispensary? Can I work for you? I want to get in the weed industry

>>9255589
>what is OTC
>what is shapeshift

>>9255513
Im smoking berners gushers in houston, can i pls have a job. Im serious

>>9255575
>>9255603
pussies

>>9255619
by all means, tell the class what those are.

>>9255579
You shud do this op, la has plenty of btc atms around im sure, this is the best loophole. Just be safe.

Depends on how money we are talking about here desu.

>>9255632
>Offers a stupid, reckless idea
>Gets angry when people point out how stupid it is

And yet he surely thinks he's the smart one.

Why can't you just take the cash and just randomly buy giftcards

Yeah, the fees are outrageous but can't you just buy a money order with the cash then mail them the money order to reload or just keep buying new ones

>>9255758

Better IDEA

Open a side business that BUYS gift cards from people who want to liquidate them and open an exchange for gift cards and use the weed money to pay people in cash?

A lot of brick and mortar pawnshops are buying gift cards from people in cash, why couldn't a MMJ do the same?

Then you get $100 gift cards for $85 and you can resell the GC for $95 or get a 15% discount on something you'd buy anyways

Why do you need to put your money in a (((bank)))?

>>9255513
>Anyone familiar with this?
There's quite a few people I know that deal with this issue and a majority of them opt to run it through other countries.

>>9255513
Buy local bitcoins.

>>9255758
>lets buy $100k a month in gift cards
>>9255788
>lets open a business to buy and sell $1b in gift cards a month

Ezpz 3x from here

stop accepting cash and only accept potcoins

>>9255540
This is fraud

>>9255561
We do this, still get accounts shut down.

>>9255562
I thought about this, but we're dealing with millions by the month

I guess my question is..

is it illegal to spend the cash or illegal to put the cash in a bank.

For example, why can't you just buy a $150,000 house everytime you need off load you cash, pay the seller in cash, let them deposit it... and you just rent out the houses or take out HELOC loans against the balance and slowly pay back the loans using the cash generated from the business?

I am not a lawyer, no clue if that breaks any laws?!

but as far as i know they can't put the money in a bank of their own... but who is to say that they can't spend it.

You could also buy the houses and make them WEED based AirBNBs with Pot Goodies w/ delivery service as soon as they arrive.

>>9255513
Step one, buy gold.

Step two, bury it.

Step three, take photo of location.

Step four, email yourself the photo.

What's the input cost of a growing operation that makes edibles? Any additional license bullshit?

If you have that much you're better off investing it anyways.

Buy silver, not gold
You could buy OTC crypto.

You could also start a business offering cash change to local businesses, for many the bank is a hassle like you.

>>9257564
Edibles are banned under Title 2, Division 1, Chapter 25, Sec. 21.2505 Article 10f

>>9257618
>You could also start a business offering cash change to local businesses
How do I enforce my loans? Should I start a mafia while I'm at it?

>>9258101
Okay retard

>>9255513

All you need to do is work with an armored service (think - brinks) and they will work with a bank and your cash. I’m not in cali but my best buddy owns a full fledge operation in a different state and this is how they did it.

>>9255724

Get a load of this asspie.

>>9258128
Fuck off stupid piece of shit. If you were running a proper business you would know that dealing with change and banks is expensive and a fucking hassle, you could literally sell your cash and have them transfer to your account.

Fucking dumbass larping weed dealer

>>9255513
You have a cash shop and have no clue how to wash your cash? fuck sakes man.

Easiest one would be open a fake cleaning business, claim you did cash sales and services were rendered. Nobody wanted a receipt so you never supplied.

Seeing that your here though, looking for tips.. you send one or two of your employees once a week and they go around to wal marts, drug stores etc and buy prepared Visa cards with cash.

Carry around a couple of the cards with you and use them for whatever the fuck you want and be able to carry 10k within a couple cards instead of cash.

Or use them to buy crypto.

>>9258128
Offtopic question

Are you doing online sales?

>>9258223
>Sell cash on a biz with already small margins and high competition
yeah nice idea

>>9258237
Also assuming you're doing $1M+ gross revenue p/ month i'd hope you hire a company like brinks

>>9258165
I'll look into this, thank you.

>>9258223
>Fucking dumbass larping weed dealer
lol

>>9258228
>You have a cash shop and have no clue how to wash your cash?
I have a holdings company but eventually a bank will sniff around and I'll get locked out. I'm not trying to launder money, I want a legitimate solution.

>>9258237
>Online Sales
Nope.

>Small margins
lol

>>9258237
There is No fucking competition in that field, banks treat cash like shit from the Stone-age and have high fucking charges and fees for smaller businesses. Margins aren't the greatest but it turns cash around by itself, fucktard.

>>9258315
Yes because someone who makes 100k+ hasn't even set up a plan or thought about what to do with cash before now. You're a fucking retard if that is the case, but we know you're larping dreaming of a weed biz

>>9255513
Buy crypto or get off of the board.

>>9256961
Have you thought of getting an offshore account in puerto rico or some other protectorate. Just a thought. Do you have any advice for long term investing in marijuana?

>>9258362
Switched to phone if my ID switched

>>9258397
How would I get the cash to Puerto Rico?

>>9255513
Only accept crypto as payment. Skip the converting the cash by keeping a Bitcoin ATM on the premises for the customers to use.

>>9258435
nice, looks like you operate out of a mobile home. would love to buy dried out weed from you.

>>9258475
There's a company that's offering a similar solution. I'm tentative about having my money float around in crypto though. Though they will let me cash out in USD I'm not sure if it's insured.

>>9258435
outdoor organic or indoor hydro?

>>9258533
Just convert all payments to USD as soon as you get it. Then you can bank that money because it came from crypto, not weed.

>>9258435
>he doesn't vac seal his bags and put humidifiers in them

How much for a pound of dabs OP?

XtrAbYteS friend

>>9258702
>he keeps crushing his weed with vac bags

>>9258639
All types

>>9255513
>>no banks will work with my shit

Not even union banks?

>>9255513
if you're bringing in millions by the month you can start your own bank.

Heck you can probably even undercut the loans coming from other banks and make a profit. You'll own your own infrastructure for banking.

LMK if you need help or motivation, congrats on your success

>>9255513
If you have a place in LA. I'd definitely would love to work for you since I am from the pot capital of the world; Humboldt county and will Deliver high quality weed for yeah.

>>9255513

Here's a good idea.Why don't you start your own banking company. You have the money.

>>9258435
look at all that BAMMER.

>>9255513
Weed is illegal in California.

>>9258165
This. Find a 420 friendly credit union, accountant, and lawyer. They exist. Worth it.

dunno if you're still around OP but I got one for you. They aim to be the normie-crypto bank and currently have mostly US dispensaries as clients. Their token is used as 5% cashback when used as a fiat gateway. Ties to Richard Branson

>>9259936
Cool giftcard token anon! Great pick! haha!

>>9255513
I can’t speak for Cali fags but I’m
Investing crypto gains into local weed

Massachusetts here

>>9259531
>Weed is illegal in California.

ummmm. no it's not. It's legal now. Why do you think people can now buy it recreationally?

>>9260130
I've seen it in 0 stores and online websites, a lot less than alcohol

>>9260146
California has literally passed a law stating that weed is legal. I just bought weed without a card yesterday in noho.

>>9260146
>He thinks he will see weed sold at ralphs, winco, costco and any mah and pa store.

Are you fucking retarded?

>>9260146

>>9257059
I think the problem is that credit card companies refuse to work with dispensaries because of federal entanglement, so dispensaries are cash-only businesses. Occasionally they can take debit. This leaves them sitting on a shit ton of cash at any moment- ballpark maybe tens of thousands per day. I believe the business owner can still deposit the cash made from these transactions into a bank account though.

>>9255513
is it still possible to enter that business

>>9257564
If you're in CA, google "CDPH Manufactured Cannabis Safety Branch." You'd just need an annual license for it but they recently set a lot of new regulations for packaging/THC content/etc.

>>9260538
the dispensaries should also create their own credit card system as well.