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/biz/ - Business & Finance

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29178896 No.29178896 [Reply] [Original]

If it came time to cash out and one purchased picrel with their crypto, would it be taxable or even traceable?

>> No.29179237

It won't be traceable if you used XMR. It will be traceable if you use BTC

>> No.29179257
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29179257

Everything crypto is traceable.

On kangaroo island, it will trigger a capital gains event. Even gifting and an oz of gold to someone will generate a capital gains event for both parties. It's treated as if the gifter sold at market value, and the receiver bought at market value.

I am not a financial advisor

>> No.29179285

>>29179237
Based

>> No.29179353

>>29179257
That’s fucked fren. I mean I guess nobody would really know it it was kept between friends but on the basis of principle that’s a bit fucked

>> No.29179500

>>29179257
This is false. XMR is completely untraceable to the point of the US government having a million dollar bounty on cracking XMR for tax avoidance reasoning.

>> No.29179759

>>29179500
So if one were to purchase, say 20, 1oz gold coins, they could then take them to a few shops around town to sell 2-3 at a time? Hypothetically speaking of course

>> No.29179851

>>29179500
That's what they want you to believe

>> No.29179937

>>29178896
poor strike and looks like chocolate

>> No.29180051

>>29179851
Australia and South Korea banned XMR in the last couple of months because the tax agencies couldn't assess people's transactions and worth. It's fully private.

>>29179759
Yes. Be sure to use XMR from a private wallet though. Not from an exchange wallet if you want to avoid taxes hypothetically.

>> No.29180104

>>29180051
Exodus should be sufficient then, hypothetically speaking

>> No.29180202

>>29179937
Hard to get great pic when encased to two layers of plastic

>> No.29181129

>>29180104
Hypothetically using CLI wallet is the easiest and safest. Not financial advice.

>> No.29181565

>>29181129
Offering a hypothetical thank you to your hypothetical statements