You have 1000 ETH. The tax agency wants to know how you acquired those. You cannot provide a buy transaction because you didn't buy those with fiat and ideally want to cash those coins out after 1 year to pay no taxes. Even if you do want to pay taxes, it's way easier to just have 1 single buy and 1 single sell transaction - way easier to report.
How do you do it? An idea I had:
>Buy 5 ETH with fiat >Put absurd buy order on forkdelta, (Buy 100.000 Gnosis for 5 ETH) >Someone fills that buy order (This "someone" might be yourself with another - anonymous - account) >You now have a shitton of coins and an explanation where you got them from
To clarify: The tax agency doesn't know of those coins of yours yet, you didn't cash out anything. Nothing has happened yet, you just own 1000 ETH.
Sebastian Cooper
you been rewarded by (insert scam coin here) team 3 years ago, they exitscamed and nobody can keep track of this.
Connor Price
>The tax agency wants to know how you acquired those. How do they know you have them anyway? Why would you pay taxes...
David Richardson
That sounds like it's hard to explain to a boomer. If they investigate, they also might want to hear the name of the project, transaction details etc.
Too risky.
Carter Flores
How do you cash out 1 million USD in cryptos without putting those on your bank account? If you hold cryptos for 1 year and don't trade, you don't pay taxes. So what you need to do is: > Forge buy transaction >Hold for 1 year >cash out tax free
You cannot buy a house with cash, even if you did, that's way more obvious that if you'd just use a bank account.
have coins on binance send to new fresh wallet cash out say you bought computer from someone for cash or whatever find wallet on the hdd how about this?
Christian Scott
>eth mixer >put coins on shitcoin exchange and withdraw them again
they can't
David Cooper
Do all your business on Binance, put your crypto on a storage device, then transfer them back to a space to cash out later on. Say they were gifted to you.
John Anderson
dis
the magical money appeared on my computer sir.
Colton Collins
AI will eventually figure it all out. Pay taxes.
Logan Ramirez
I cannot take people that use the word "storage device" or "put your cryptos on a hardware wallet" serious, sorry. You don't "put" coins anywhere, they are always on the fucking blockchain.
Also: You can only withdraw 2 BTC from binance a day if you aren't verified. If you someday own 1000s of BTC, you are fucked if they are on Binance.
I am looking for autists here, not poorfags that trade with less than 100 BTC.
Brandon Garcia
What if they don't believe that story? Will they accuse me of stealing? Tax the full amount? This story is too simple, you might as well tell them that you just found 1000 goldcoins on the street or wherever. Not sure people here are autistic enough to find a solution :( Have a grill for motivation
you might want to move out of usa 6months and cash out, no tax no signals of your money.
malta.
Brody Davis
>Not sure people here are autistic enough to find a solution :( >expecting anons to draw you a roadmap in potential irs honeypot thread you were always retarded
Zachary Parker
dunno, i assume they have to prove you are a liar rather then you having to prove your innocence maybe it's just like that with money
Blake Perez
>thinks everyone on the internet is from america >doesn't realize that the IRS isn't policing the entire world
kys. Nobody has even commented on my solution in the OP, which is still my favorite.
Christopher Mitchell
Why don't you tell the truth? Did you get them by selling drugs or something? I don't understand this thread.
Luis Martin
which country?
Jeremiah Torres
I don’t know if anybody ever did that imagine:
,,mr taxman so here I bought eth with fiat then I bought this scam ico and flipped it 5x on ether delta, then I bought 2 shitcoins on craptopia they went to the moon then bunch of another scam icos but I invested through some shady telegram pool run by pajeets they still hold my bonus tokens hostage”.
Andrew Scott
anyone with a working exit strategy will never post it in a thread like this, its like somebody being asked to post their winning trading setups, it could cost them thousands and helping some random poorfag id out for nothing is no reward. this site isnt anonymous, everything is archived, every post goes through google captcha and youre asking people about tax evasion lol
Henry Hernandez
>If you hold cryptos for 1 year and don't trade, you don't pay taxes. I don't think this makes you exempt from capital gains when that ETH is sold for USD/fiat.
Christopher Wood
because you're still a "trader" afaik you need to hodl for like a year or something to not get jewed hard, like this guy said in the UK you can cash out 10k a year tax free whatever the circumstances
Joshua Sanchez
can you just move country and cash out? some island somewhere with low taxes
Henry Nguyen
you cash out using a miner.
there are services like this on the web, this ha been already spoken here.
lurk more.
Nolan Roberts
ETH>XMR>BTC>sell over time on localbitcoins
Unfortunately the fiat gateway is the biggest hurdle for crypto. Or just hodl it until it’s the dominant world currency in ~30 years
