Laundering Bitcoin

Step one is to wallet hop and then wash in several exchange pools. After this transfer smaller amounts to fresh wallets and you can buy silver/gold from mints and dealers with the now semi washed BTC. After this you now have an asset that you can exchange for cash in just about any city. Also keep the coins moving from wallet to wallet in the meantime so that it gets unbearable to track if it's still even possible after going through the exchange pools.

Why the fuck would you do that in this market.

buy laptops and electric devices like phones with bitcoin then sell it on ebay.

That's what a coinjoin does.

No need to launder. Keep it off the books.

move to a non socialist country where to government cant spy on you personal bank account

Or coin tumbler or whatever you call it look I brought shit on the dark web for a while and while it might be possible to do blockchain forensics to track transactions as long as they don't know who you are it's pretty easy to do coin laundering.

>Now if you wanna convert that into fiat well you gotta have a better story. Just claim you day trade crypto or some shit. I dunno
Does the IRS scrutinize the story? Some time ago they put out a lot of entertaining press releases about how even drug dealer should claim income and that they could simply write "dealing drugs" on tax form and no repercussions would come to them. Obviously I don't believe that, but perhaps it illustrates the point that the source of your income is not of immediate concern to the IRS.

>Why the fuck would you do that in this market.
Cash on hand , have to be ready for the down turn if it ever comes ...

Crypto to cash is easy
Crypto to investable cash is what i am discussing

>move to a non socialist country where to government cant spy on you personal bank account
Recommendations ?

I'd like to know this answer as well
I'd literally bring millions to their economy as long I know I'm free and not getting assfucked

Gold is a good recommendation US can't track that unless you purchase over a kilo at a time

gold is ok but see Lurking with interest for suggestions related to this

Fuck off FBI/IRS. Go ask reddit

I hope bitcoin gets free market investment options
I used to make ok money lending to margin traders until US gov made that illegal and I cashed out of the exchange and went dark
I've heard blockfi is starting a bitcoin savings account with interest but that's centralized and under US jurisdiction

not necessarily, open consultant firm, offer security consulting for exorbitant prices, make up fake contracts oversees, pay taxes, done.

got to Switzerland and use the kyc-free Bitcoin ATMs. If you want to you can open a swiss bank account. Done.

fuck off IRS you'll never learn our secrets

do the swiss accounts come wit c/d cards?

>if they audit they can't disprove my cover story
do you have a copy of the invoice? did you bill a legitimate party and is there a receipt for that payment? they don't need to disprove your story beyond a shadow of a doubt if you get audited, you need to prove your story.

I wouldn't claim it as income for services unless you can establish a legitimate paper trail for that with a legitimate third party, which you will have a hard time doing.

Probably the easiest thing to do would be to pay capital gains tax on this shit and say you either mined it or bought it with cash from an atm or localbitcoins before kyc. Depending on your bank records you can adjust the alleged date/price of purchase to match the profit you need. What I mean by that is if it's not uncommon for you to deposit thousands a month and withdraw thousands in cash you could obviously say you bought more bitcoin at a higher price, but if you only withdraw an average of maybe $60 in cash a month then you'll need to say you bought it cheap or mined it.

Pay attention to every detail and make sure to check dates on when services were available.

>I used to make ok money lending to margin traders until US gov made that illegal
why should that stop you ? related to the OP frankly

>got to Switzerland and use the kyc-free Bitcoin ATMs. If you want to you can open a swiss bank account. Done.
if it is that simple why doesn't everyone do it ? a plane ticket is 500 anyone can afford that . literally any american making over 50k would be doing this . must i have citizenship ?

>do you have a copy of the invoice? did you bill a legitimate party and is there a receipt for that payment? they don't need to disprove your story beyond a shadow of a doubt if you get audited, you need to prove your story.
>I wouldn't claim it as income for services unless you can establish a legitimate paper trail for that with a legitimate third party, which you will have a hard time doing.
isnt the purpose of an audit to establish your tax liability, not criminal enterprise unrelated to source of income? can you share your background for this info please? ty

furthermore i have what is essentially a cash based business using crypto - i do not store customer info at all beacuse anonymity is part of the business
if they 'audit' this what crime have i committed if it is otherwise legitimate ?
if this is not a problem then apply that to my original question and my previous post .

I used a us exchange to execute liquidations and payments on loans
They forced me to close my lending account
This gave me some recourse and prevented getting scammed
If a decentralzied exchange was advanced enough to offer it'd be great

of course.
I don't know. Probably not that convenient for non-europeans.

hit me up if you have questions: gagdshesj @ protonmail . com

Yes the purpose of an audit is to establish your tax liability, but if you don't have proof of the transactions you're reporting are they just supposed to believe you that you're reporting all your income? It will make them question what the extent of your true tax liability is and if you don't have records that will be hard to prove. They're not going to believe someone made $1,000,000 of essentially profit (since I'm assuming you don't have proportional expenses) and doesn't have a ledger of these transactions or any kind of invoices. Now I didn't know you already have a business up and running, I thought you were gonna try to do a few large transactions or some other dumb shit, so you will probably be ok and find ways to filter that money in. I still would recommend reporting it as capital gains as it's much less headache and easier to make legit.

I'm not actually sure about this question because the laws are different for different types of commerce, but many transactions legally require you to store some info about customers. If that's not the case for you then it would raise eyebrows that you have no sort of company records of these transactions. You seen the motherfucker in breaking bad actually ringing up fake orders on his cash register? That's so he can show those receipts to the IRS if it ever comes to that because who the fuck is going to make $1,000,000 and have 0 receipts, invoices, emails with clients, or any proof at all as to where it came from. So yeah you don't need all of your customers social security numbers dog, but it would help to have records of any kind about these transactions you're making up.

I hAtE RoADs aNd ThA PoLiCe AnD FiRe DePaRtMent AnD ThE SeWeRs AnD ThE OtHeR ThInGs I tAkE fOr GrAnTeD.

by pumping low liquidity shitcoins and manufacturing ~100x speculation profits from legal money

ok, and when you buy something with that cash and IRS comes knocking and asking where did it come from what do you say?

>family
And now leave my property.

>hit me up if you have questions: gagdshesj @ protonmail . com
ok fbi i will
are you swiss?
>Yes the purpose of an audit is to establish your tax liability, but if you don't have proof of the transactions you're reporting are they just supposed to believe you that you're reporting all your income?
um because they cant see any other income, assuming it exists at all?
>It will make them question what the extent of your true tax liability is
how is that different from a cash business? it doesnt appear to be
>I still would recommend reporting it as capital gains as it's much less headache and easier to make legit.
you may be right but even then the paper trail is spotty at best ... americans might not want to reveal trades on binance for one example as fincen laws on foreign accounts and so fortrh
>but many transactions legally require you to store some info about customers
can you provide sources or examples please?
>That's so he can show those receipts to the IRS if it ever comes to that because who the fuck is going to make $1,000,000 and have 0 receipts, invoices, emails with clients, or any proof at all as to where it came from. So yeah you don't need all of your customers social security numbers dog, but it would help to have records of any kind about these transactions you're making up.
yeah but its easy to fake cash receipts especially for a crypto-cash business it is quite literally just some transactions i could automate with some basic code and a cheap server
tax = theft
>ok, and when you buy something with that cash and IRS comes knocking and asking where did it come from what do you say?
this

nah with the irs you have to prove your innocence.

>nah with the irs you have to prove your innocence.
that means that they can point to a pile of money and say "prove you do not owe tax on this pile". if i have one pile and pay tax in full there is nothing for them to complain about to my understandign .

not exactly true. if you fail to convince them of the validity of any transaction or accounting item they will report you and you get a criminal investigation.

>if you fail to convince them of the validity of any transaction or accounting item they will report you and you get a criminal investigation.
that doesnt appear to be the case do you have any personal experience with audits ?

not in the us, but these agencies work pretty much the same everywhere.

Buy modern """"""art"""""" paintings

>not in the us, but these agencies work pretty much the same everywhere.
the irs put out a psa talking about how drug dealers could just write "drug dealer" on their tax form and pay the tax . US IRS is concerned mainly with just taking the money ... like a gang

As I said I didn't know you had your own cash business when I replied at first and you made no mention of producing fake records, so I was trying to explain to you why you can't just say "I made this much money and I don't have to prove any of this because you can't prove the alternative."

>yeah but its easy to fake cash receipts especially for a crypto-cash business it is quite literally just some transactions i could automate with some basic code and a cheap server
Exactly. You made no mention of doing that so I wanted to make sure you understood that you need to do this. Also lmao at "some basic code and a cheap server" you could probably even use a cheap host don't you think techboy?

Either way I'll reiterate: don't involve your legitimate enterprise with this nonsense when all you have to do is say you bought or mined some bitcoin or hell even monero a few years back. If you're going to break the law you might as well pay less tax and fake 20 transactions instead of faking thousands and paying more. Have you considered the implications of being audited 5 years from now and the IRS seeing income for years 1,3,4 ,or 5 = x but year 2 = x + $1,000,000? How can you account for your wildly successful year? Keep in mind the point of this advice is to limit suspicion as much as possible. Yes you can do it your way and probably be fine. Everyone cheats on their taxes. But if you're going to do it for 7 figures, and it's super easy to be cautious, then why not be as cautious as possible.

>Buy modern """"""art"""""" paintings
how does that help my situation ? this is a normie meme

payfair.io

Art is the only idea I can think of, what the fuck can the IRS do if you claim to be an artist? Make some shitty canvases, tell friends/family “write me a 30k check for this and I’ll give you 31k for your troubles” rinse and repeat over a year or two.

We seem to be on the same page and i appreciate your advice :)
yes you are right i have to decide between faking one type and faking another ... i dont have a complete picture on how much scrutiny the irs will really put me under

>Art is the only idea I can think of, what the fuck can the IRS do if you claim to be an artist? Make some shitty canvases, tell friends/family “write me a 30k check for this and I’ll give you 31k for your troubles” rinse and repeat over a year or two.
this doesnt accomplish anything but a net loss of 1k lol

You should buy, not paint. Buy a painting, hold it for some time and pay very little to no tax depending on your state. NY has 8% tax whuch is the highest possible tax

Bitcoin itself is a money laundering asset. Anyone who unironically has them is going to jail.

You just turned 30k of dirty money into clean money, how does that accomplish nothing? Good luck buying anything in cash with 30k without raising some eyebrows.

>You should buy, not paint. Buy a painting, hold it for some time and pay very little to no tax depending on your state. NY has 8% tax whuch is the highest possible tax
where did the money for the painting come from to begin with? would one not need to provide evidence of my spending? is the idea to sell it to a known person for x amount in cash? then where did they get the cash in the eyes of the irs?

interesting concept but i wonder how money enters the system first - you cant rightly just give someone cash and have them buy it from you lest the irs investigate them no differently than you

>You just turned 30k of dirty money into clean money, how does that accomplish nothing? Good luck buying anything in cash with 30k without raising some eyebrows.
no youve just shifted the unwashed money to the other person in that scenario

is trading in crypto banned only in the US?

Wow, since when? KYC in all countries & also if buying?

bro just dont answer. like, pretend to be asleep

The big gold and silver online places take bitcoin. They claim they don't report on gold eagles.

>bro just dont answer. like, pretend to be asleep
no text = no answer knocking

You can post your phone number in your profile to circumvent the escrow/kyc bullshit

They don't give a shit where your money comes from as long as you give them a cut.

>They don't give a shit where your money comes from as long as you give them a cut.
thats what i believe but says otherwise

If you actually have a subsantial amount of BTC and want to invest...

Purchase real estate with it you fucking retard

its easy to LIVE in thailand with shady incomes
not to pay your taxes there
they dont want no farang

>Purchase real estate with it you fucking retard
what dont you understand about the irs exactly

>buy something in cash
>cash

How dumb are you? How does the IRS know when you buy something in general, let alone with cash?

Attached: 1418111790700.jpg (550x338, 19K)

Tax free in Wyoming.

>How dumb are you? How does the IRS know when you buy something in general, let alone with cash?
this thread pertains to laundering the money so that it can be invested
>Tax free in Wyoming.
elaborate? federal income tax regardless but that is interesting

he meant build ur home

The Israeli Revenue Services literally does not give a shit where your income came from as long as it is reported and you pay the tribe. They literally give examples using drug trafficking in their literature, and sell tax stamps for your damn cocaine.

The only thing you need to support is if you're trying to claim the long-term capital gains rate. In such an instance you'd need to be able to document your entry and exit. If you claim the short-term rate they'll send you a thank-you letter for your tribute to Israel.

>all of these Hollyjew brainwashed retards that think laundering is a form of tax evasion

>literally does not give a shit where your income came from as long as it is reported and you pay the tribe
>literally does not give a shit where your income came from as long as you tell them where your income came from and you pay the tribe

>he meant build ur home
irs will sue you for tax fraud when they realize your assets add up to more than your income - simple

thanks this is what i thought .
so i can just claim it as anything by name and be ok correct ? it seems largely a matter of common sense

can you accept crypto as donations ?

>can you accept crypto as donations ?
and tell the irs i sold my ass on the internet ?

lol

good one

thank you

>How does the IRS know when you buy something in general, let alone with cash?
Because any real estate or vehicles that you will be registered under your name, genius. How do you think IRS catches tax evaders?

the real question is what specific form is filed and by who to the irs about your house

Very easy.
>Spread the Bitcoin/ETH among many wallets of varying sums
>Advertise a shitcoin for a few months
>Launch shitcoin ICO
>Launch Round 1, raise very little
>Launch Round 2 after a year and pay most of the bitcoin here to avoid short term capital gains tax and pay the long term rate instead
>Pay yourself (target) a developer salary for working on the shitcoin (just copy and paste some shit like most coins)
Gratz now you have a million in legal long term capital gains that you can pay out to yourself however you see fit.

Then just hope you don't get fucked twice as hard for fraud, great!

Wallet 1 (original wallet) --> wallet 2-100 (distribution)
wallet 2-100 -> wallet 101 (new "ICO" wallet)

would this really work without anyone noticing that it was just a fake transfer from wallet 1 to wallet 101 under the guise of a fake ico project?

You can't put it in the washer. Its digital.

Not if the monry moves through Monero. I guess you don't really want it on a public ledger or else you may have to pay backtaxes once the IRS starts cracking down.