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/biz/ - Business & Finance

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14440910 No.14440910 [Reply] [Original]

I may be a linklet but I just made over a grand arbitraging this shit. Free fucking money with 0 risk
Buy on binance, as soon as order fills sell on coinbase

Only was using 5 ETH increments in case price exploded

>> No.14440929

>>14440910
I was going to but if it exploded in between orders I would have kms so I didn’t

>> No.14440934

>>14440910
>what is capital gains
>what are trading fees
Anon I don't think you put much thought into this...

>> No.14440988

>>14440934
Capital gains can suck my cock

I started with 5 eth and ended with 5 eth
Started with 3675 LINK ended with 4025

Trading fees + withdrawal fees arent $1200

>> No.14440991

>>14440934

Fuck the IRS cuh

>> No.14441024

What are you using to send profits back to Binance? Anything better than xrp?

>> No.14441045

>>14441024
That would have been smarter maybe but the fucking spread stayed open so long I shit you not I used ETH every time.

>> No.14441051

>>14440991
I mean I agree, right, but Coinbase was served a fucking John Doe warrant. If you trade on Coinbase, the IRS has your information, and they will come after you.

You can try to fuck anyone else, the IRS will take your firstborn with zero emotion.

>> No.14441121

What’s the methodology for this? Step by step. Sell link on coinbase for ETH. Transfer ether to binance and buy up more Link, the next transfer link back to coinbase and reselll?

>> No.14441210

>>14441051

Yeah I was thinking about doing what OP was but decided not to. Either way good luck OP.. hope your gains are safe.

>> No.14441216

>>14441121
Yes basically but I had 3k+ LINK so I didn't need to transfer the link back

Just sell link for eth on coinbase
Send to binance and buy
Sell more link for eth on coinbase
Repeat

I only did it in 5 ETH increments in case the price exploded I didn't want to risk more than that being out of my LINK stack

>> No.14441237

>>14441216
Also that risk being said, the fucking spread was not closing EVER
It sounds riskier than it was binance was (I stopped, reached max withdraw on coinbase) consistently 9-30% lower than coinbase in eth value.. fucking crazy night

>> No.14441281

>>14441237

So what are your plans on the tax?

>> No.14441298

>>14441281
>paying taxes
i seriously hope you're not serious lmao

>> No.14441316
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14441316

>>14441216
Bless you fren.

>> No.14441338

>>14441281
A lot of people say it but don't mean it

I am not selling a single LINK within the next year, i have a comfortable life already
I am under the impression that I don't need to worry until I sell, and even then that holding for 1 year no trading lowers taxes more, could be wrong but that's a whole year away

>> No.14441345

>>14441298

How are you gonna avoid coinbase?

>> No.14441346

>>14441051
yeah fuck jewbase. i'll never trade on that piece of shit exchange.

>> No.14441495

>>14441298
Man you guys are so fucked. Pay your taxes dummies

>> No.14441959

>>14440934
uh... you only have to pay taxes on realized gains man. and its like 20 percent... of profits, not of the ammount that exists. you should pay your capital gains anyway. its literally just a percentage of the earnings.