You Can't Cash Out

Have you ever live a cashing out horror story?

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cashing out is meme, how would you cash out internet money?

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In the U.S., every time you transfer more than $10,000 at one time, the fucking IRS is alerted to the transaction

So, not only was the IRS alerted, he made the entire matter public record by hiring legal assistance

I love how everyone ignores the "crypto" part of "cryptocurrency" and is rushing to let the government know how much profit you've made

NEVER SELLING
YOULL NEVER GET MY LINKIES YOU FUCKIN KIKES

I'm a bit scared of this. I am hoping to sell my crypto for gold.

Just deposit $9999.99 then. Are you stupid?

>cashing out

B A S E D
A
S
E
D

Back in the 2017 bull run era where was a madlad britbong on here would tried to cash out $400k in a single transaction despite being a NEET. As you expect he got his account frozen and he was posting screens on here of him in the online chat literally saying "GIVE ME MY SHEKELS WAGIE". He ended up going in person with papers showing his crypto purchases and said the people working there looked disgusted by him pulling out multiples of their annual salaries.

Probably can find the thread on Warosu

this is what i imagine happening when we make it. they just flag your money as suspicious then make you wait years to get it after sueing

>He ended up going in person with papers showing his crypto purchases

Where did he go?

I agree.. Just take out small amounts at a time

that's called structuring and they can confiscate your money

He was dumb as fuck cashing it out through a shitty high street bank. He went in person to the branch with evidence of his crypto purchases lol.

this is an amerilard meme only

I'm terrified of this scenario because there's no way I can prove the origin of my crypto.
It's all legal, some mined, some earned in weird schemes, but most info is completely gone, several exchanges I used no longer even exist.

beyond based.

Jesus fuck. Then there's the fact that neither the bank or the government is forced to accept some exchange's purchases as proof. Not even Coinbase is approved in my country by CNMV (the entity that regulates stuff in Spain) so this makes me paranoid. Not sure how it is in burgerica.

This guarantees nothing.

Well, then you are fvcked. If you can't prove that your coins are from licit origin, they could think it's from you selling weed on the darknet or something. I don't understand where this stupid idea of "they have to prove im not a criminal first" comes from. Assume you are a criminal by default in the eyes of the government unless you can prove where you got the money from. Even if the money is from licit activity, if you can't prove it, you can't cash out without getting in trouble. Yes its insane, but that is how things are.

I wouldn't cash out if you don't have a jewbase or kraken receipt. I don't even trust chinknance. At least these 2 are in Europe.

It's still all a bit fucked after all these years. I've got little fractional crumbs over a bunch of exchanges from mistakes/fees. Offered to pay a friend on a road trip gas money in NYC, he said he had a wallet, but laughed and mocked me. Later that day he kinda comes back on the down low asking if he can give back the cash for the bitcoin. Dude you just openly mocked me for offering you payment in form of your choice.

well it's not fucked, it's not like it's impossible to cash out, it just means I have to watch out and never cash out massive sums through retarded exchanges.
If I see the situation is becoming fucked I'll figure out some way to manufacture a fake legit source, but only as a last resort

>well it's not fucked
it's not that fucked*

Yeah, cashing out is still all sorts of fucked up. I think I'll try to get myself some gold bars with crypto once I made it and say I've got them from my dead grandpa, who owned a huge ass farm.

i think i remember that, didn't the police take his computer and shit? or am i misremembering?

i use Dether

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>they have to prove I'm not a criminal first

Innocent till proven guilty. Sometimes I forget how good it is to be a US citizen.

Oh shit, Binance doesn't hold a log of transactions farther than 3 months.

I don't buy anything on Coinbase other than USDC or ETH to trade to Link. I'm fucked.

Btc not nyc

Yes they do. You just have to adjust search dates.

This is exactly why I didn’t buy more link, I figured that cashing out is going to be a bitch anyways so I didn’t want to get greedy

Just buy through coinbase and cash out through coinbase.

Surely you bought some crypto on coinbase. Just convert to that send it back and cash out.

Insist you held and didn’t exchange it. File that on your taxes, pay the gain.

I have some huge number of ETH that I’ve used as an on-ramp for any number of things and LINK.

When I cash out it will be in ETH and LINK and that will be that. There is no other trail besides that and the government will get their taxes.

Just don’t be stupid.

Just checked. OOOOOOHHHHHH, the timespan is 3 months range, not from the current time. Okay, I'm safe. Thank you for clearing that up.

How did I miss this?

What on earth am i supposed to search to find this thread?

Why not convert it in btc and cash out in a street btc atm

I always have buddies who were too hesitant to get into crypto because they didn't know how to cash out. My thing is it's better to have $1 million you don't know how to cash out on versus not having it at all. The former, you can go out on an adventure and go figure out how to convert it to money.