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How the fuck do I cash out?

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Hello /biz/ I'm not really sure how to move forward at this point. I ran a bitcoin casino (none of this bullshit ass clearnet type shit) and am moving on + have already paid out all the investors who backed up my bankroll. I programmed the website 2 years ago and made just a bit over 200k, which I know isn't much, but I'm only 19 and this is the only way I've made money.

My biggest concern is how can I safely move this money into an account to actually be able to use it? Also, if it helps, I'm located in the U.S so I really don't need the IRS on my ass.
>>
>>1776708
Ask a lawyer then hire a CPA.
>>
https://localbitcoins.com/
>>
If you want it in a US account, you have to claim it as income.

If you want it in an overseas account, you can not claim it, but you'll go to prison if the IRS ever finds out about it.

Just pay the taxes and move on.
>>
>>1776708

You don't.

That's the point of a ponzi scheme.
>>
>>1776708
In how much time did you hoard that?

If it was in one year, 200k, you're fucked because of taxes. 35% is Uncle Sam's.

Now if you did it over the years, you're good, ~20% for Uncle Sammy.

Just walk in an accounting place, or a lawyer place (Doesn't have to be expensive desu), and explain your situation.
>>
>>1776722
It ain't income nigga. Capital gains that shit after a year.
>>
>>1776708
Sell it bit by bit
Sell it to people who want it
Buy drugs and other black market goods and sell then for a percent less
I'd buy some but only have a iphone 3
>>
just send about 10k per day to different addresses and cash out all of them individually

either that or go to turbotax/H&R block and FEEL that capital gains tax fuck your tight boy pussi. Good work btw plz send a poor father some


1Ecdjm1AUrLqoeVvPydDx8JKSDiLAY6YzV
>>
>>1776718
>>1776731
One thing I need to know is that am I able to go up to a lawyer knowingly that the way I made this money is illegal?

Also it was over 2 years. Though sporadic, 50k first year, 150k the next.

>>1776721
>>1776737
This is not a preferred method, my problem isn't getting converting the BTC to cash, it's just doing it safely//without going to jail or someshit.

>>1776728
Not too sure what you're on. I had 4 investors who backed me up ~2.5M, I paid them their share and took home mine.
>>
>>1776708
take vacation to a tax haven, open bank account there, transfer money to it. Then spend it with a debit/credit card from them and slowly transfer money in.
>>
>>1776733
He said he was running a casino. He was paid in coins. That is the definition of income you stupid ass mother fucker.
>>
OP - what about the idea of leaving the coins in the account and paying for shit over time from there? Can you buy a car with bitcoins?
>>
>>1776708
you are going to jail, kid.
>>
>>1776744
why is localbitcoins so bad? i've sold bitcoins for a transfer of funds direct to my bank account.
>>
>>1776766
I bet not.

If you claim it as income for running an online business, the gov't won't give a shit. They'll be glad to collect the taxes. There is no easy was for them to figure out exactly where the income came from.

It would have to be some sort of anti-gambling initiative that would find it. The IRS is not likely to see the detail unless you told them.

Don't fucking talk to a CPA - they are mandatory reporters now. Attorneys are not. You can tell them all kinds of "Better Call Saul" shit without worry.

And don't take the money overseas. That shit is over.
>>
>>1776772
I'd say buy something like bars of gold, then keep those bars of gold in the bank. Buy it on a library computer while wearing a hoodie.
>>
>>1776708
Is this stored on Bitfinex?

You already fucked up.
>>
>>1776806
It looks like coinbase.

Eitherway op has to get a lawyer and pay taxes now.

Unless this is all an elaborate plan to start a prison love affair.
>>
>>1776708
Buy conterfit currency and use that to buy shit off people an then sell that shit to pawn shops/graglist
There you go
>>
>>1776762
Actually it's kind of both. Revenue from the casino but also capital gains on the commodity (also fuck you gubbmit, this is my crypto REEE).

It's also illegal the way he did it, so he really has no option but doing it some other way. idk how.
>>
>>1776816
Use bitcoin to buy conterfit money/black market drugs
Sell that in real life and use conterfit money to buy shit off junkies and sell that shit to pawn shops.
>>
>>1776816
If he just pretends like he made that profit solely on appreciation in the value of bitcoin, he'll be fine. They have limited means to find out otherwise.
>>
op already fucked up by letting all that money hit coinbase....

consult a lawyer/financial advisor/whoever the fuck
>>
>>1776826
I don't agree. I think it is riskier to report it as cap gains because of what the underlying investment is. They don't see what your cost basis is for the coins and therefore could be auditing the shit out of anyone who declares cap gains on bitcoins.

Same old point - talk to an attorney OP.
>>
>>1776728
what the fuck are you even talking about you fucking retard?
>>
>>1776824
Retarded. Unless you're using some state of the art shit, counterfeits are dogshit and he'll get caught by the Secret Service.
>>
>>1776708
Can anyone trace the casino back to you?

If no, then tumble in a dark wallet then sell in bulk and pay your taxes.
Claim capital gains from a speculative investment or some shit.

If yes, then tumble in a dark wallet to hold and sell small amounts over time.
As long as you are dealing in small enough amounts (sub 10k) then you wont even be on the radar.
>>
>>1776708

Easy, I made couple of mil in btc, three years ago, but was about 15 at the time, 18 now, got a lawyer and we presented them as donations, and tole them at the time of the transactions it were worth a meme 100k.
>>
>>1776870
nice
>>
>>1776812
If it's coinbase who gives a fuck. They probably already told the government anyways
>>
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>>1776873
>>1776870
guys this is bait he's pretending to be stupid
let the only (You) he gets be mine
>>
>>1776744
Just talk to a lawyer attorney client privilege they can't do shit unless they actually come after you
>>
>>1776870
Good job.
>>
>>1776722

/thread
>>
>>1776762

this. It is 100% business income.
>>
Lurking here because I would like to cashout my btc as well. I do not have as much.

I have coinbase and would like to minimize being taxed up the ass. I receive btc through gambling online.
>>
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>>1776964
>>1776708
>>1776708
>>1776708
>>1776708
>>1776708

all you rich fuckers I lost my 30 coins to MtGox and BTC24 and mr. hausdork.

please throw me some change I am literally a starving poor ass faggot from eastern europe.

Work my ass off for 25 bucks a day only to try paying off a mountain of debt. may God bless you

1PsrBh7FzAKiirMvqdRkCdgmGu3i5mxN41
>>
>>1776964
>coinbase
oh oh
>>
>>1776964
if you havent already dont send it to coinbase

just use gyft or something to get gift cards or find bitcoin atms

coinbase is sending out 1099 ks anyway
>>
Get a wallet, cash out 1 btc every week on whatever site and live from it, invest some money every week too, claim cap gains from now on on taxes from the actual dollars you get into your account
>>
>>1776980
This can't you just turn them into other cryptocurrencies and say you made the profits from investing/daytrading?
Like what can they tax you for that?
>>
The law is still gray on BTC, and you might only pay funds on gains when you cash out depending on your gains.

More realistically: Like other anons here have said, hire an accountant and possibly a lawyer. No one can help you here.

Godspeed, anon.
>>
There are places where you can buy physical gold for Bitcoin, look it up. With gold you can always claim it was an inheritance when you sell it.
>>
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>>1776970
>>1776800
>>1776740

Is this a laugh at poorfags thread?
kys bois
>>
>>1776845

Why are you so upset?
>>
>200k "isn't much"

what universe are you living in?
>>
>>1776870
>>1776873

mfw
>>
>>1777155

It is much, but if you're planning to live off it for a while, it isn't much.
>>
>>1776708
Invest the 200k in to goods. Find a wholesaler that deals in bitcoins then spend the year liquidating your stock at a profit
>>
>>1776708
Are you sure you want to cash out on a dip?

>>1776845
He is just a salty nocoiner.
>>
>>1776708
In any case, the fact that you are holding 200 BTC anywhere but locally shows you aren't very bright, so good luck.
>>
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Here you have it. Another weak hand selling at the bottom of the dip instead of buying more.
>>
Put it all on black.

But seriously start looking into mutual funds, ETF's, and value investing.
>>
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>>1777291
yeah, that retard, he should really wait another eight years for bitcoin to go back up.
>>
>inspect Element
do you actually think anyone here falls for this?

You probably don't even have a single BTC lmfao
>>
OP roleplaying again lmfao. Deliver a signed message with a bitcoin address or you're a lying piece of shit.
>>
>>1777339
0_0
>>
>>1777342
lol.. I can do it too.
>>
>>1777339
>>1777341
>>1777359
here comes that same desperate faggot who thinks everyone else must have missed out on bitcoin because he did

whats your threshold of believability? 100k? 30k?
>>
>>1777361
and still I can't see a signed message.. more like you're mad because I blew your cover. Even if he had been intelligent enough to biy BTC back then, he wouldn't have been so stupid to put them all on Coinbase.
>>
>>1777359
oh shit
>>
lmfao also OP supposedly owns 197 BTC but doesn't have enough money for a notebook with a high res screen hahahahahaha
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>>1777371
*shit it's actually a real screen. Welcome to 2012.
>>
>>1777366
my cover for what? i agree op is a dumbfuck if he put it all on coinbase. chances are they have already got him down on some taxation shortlist with those figures. irs already trying to get those numbers out from coinbase by legal means so op has no choice but to go legally now, unless he didnt have that coinbase account under his real name.

but you keep saying you want a signed message, why dont you sign your bitcoin address first since it bothers you so much that no on else wants to? you clearly have/trade enough to bother getting verified on poloniex.
>>
>>1776880
>coiners are this gullible of bait
buttcoin going to 0
>>
>>1777099
have you had any trouble depositing/withdrawing usd from bitstamp? i thought they were based over in europe which made things more difficult than using gemini/gdax
>>
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>>1776970
Fuck off you e-begging nigger. No one gives a fuck about your sob story you lying faggot. Delete this post and then delete your life.
>>
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>>1777359
Keeping a half mill on an exchange, and not on a hardware wallet.
>>
>>1777374
>why dont you sign your bitcoin address first since it bothers you so much that no on else wants to?
I'm not the one bragging about how many coins I have eh?.. but if I did I would deliver a signed message. Otherwise there wouldn't be a single reason to believe me.. especially not on this degenerate board.
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>>1777381
if it was real whats actually scarier is that poloniex only gives him 25k withdrawal a day. their limited withdrawals are shady as fuck.
>>
>>1777384
no one has to believe op, you seem to be the only person frustrated about how much money op has. for everyone else its useful information even if he is lying. he also never bragged, but keep projecting.
>>
>>1777386
yeah I'm not verified there and only have 2k a day limits.
Imagine short term lending 580k
>>
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>>1777386
feels bad man, I need to get this out
>>
>>1777388
no.. I just know he's lying. Not only is he too young to have bought in into BTC at the right time but also no one with these amounts of BTC is retarded enough to keep that amount on an exchange. If he had bought in that early, he would never put his BTC on Coinbase because he would remember MtGox.. I could give you another 100 reasons why he's lying. You're probably a samefag lmao. OP is 19 years old lmfao. 98% of all guys who bought into BTC between 2009 and 2013 where at least 17y +.. I know this for a fact.
>>
>>1777393
unverified account? i would make regular withdrawals of 900 to 1800 each day until its out. the real fear of poloniex is that they can just demand you verify your account or essentially steal all your money.
>>
>>1777393
oh shit
>>
>>1777400
yeah I was messing around trading alts but wasn't great at it, so I want to put it back in my trezor. sucks it's going to take like 20 days.
>>
>>1777396
from the screenshot it looks like he just sent that money into coinbase judging by the transaction in the bottom left. he also didnt say he bought in he said he made a casino and got people to invest which is a completely different scenario, he only made 2 posts in this thread why not just read them?

im curious though, how much money do you have in crypto? since you seem so interested when others mention how much they have in themselves.
>>
>>1777405
seems like you did alright unless you deposited 30 btc without realizing you could only take out 2 a day.

some people would be in your exact position if they just bought some of that pascal coin p&d shit. it seems like poloniex really just dont want people withdrawing all their money at once. fractional reserve maybe?
>>
>>1777408
>he made a casino
Now I believe him even less. If he programmed a BTC Casino he would be familiar with all technical details of Bitcoin and most certainly not retarded enough to keep any of his BTC on Coinbase. He also would know how to mix and "launder" his BTC but I'm not getting into that now. Coinbase are one of the most shady motherfuckers in the business. Just face it, he's lying.

>im curious though, how much money do you have in crypto?
'bout tree fiddy
>>
>>1777410
I started with 35 and just got sick of trading
>>
>>1777424
>just face it
i honestly dont care enough to consider how likely it is. im more interested in why you're always so frustrated about the possibility of other people owning a lot of bitcoin.
>>
>>1777427
its difficult to trade alts because they're 100% speculation. theyre good for riding pump and dumps but not much else. so you really have to constantly look for any tiny piece of news that "traders" are going to use as an excuse to cause another pump and dump event if you want to have any kind of luck. buying into new shitcoins when they get listed is a good bet though.
>>
>>1777428
I'm frustrated about people lying on this board. If he delivered a signed message I wouldn say nothing but "cheers. good for you, mate!"
>>
>>1776833
He could always say he had bitcoins lying around in a wallet somewhere and found them recently?
>>
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>>1777443
When coinbase does blockchain analysis and determines the coins were moved around consistently over the past 2 years, and then turns that over to the IRS
>>
>>1777437
sometimes you just have to take someones word for it. id only be suspicious if someone was claiming to have 1000+ coins without a believable story.

>>1777460
they already have compliance software that checks around 2-3 transactions before and after coins pass through coinbase to check for known dug/gambling/exchange sites.
>>
>>1777424
>If he programmed a BTC Casino he would be familiar with all technical details of Bitcoin

this stood out to me as well. his
blindspots in his knowledge of the system is surprising
>>
>>1776708
well, use it to buy physical items, could be anything as long as you could re sell them for cash. Buy some physical gold or platinum, and then sell it in real life man to man for cash.
>>
>>1777544
nvm I was talking out my ass, didn't realize you still need to pay tax if you buy something when your bitcoin increases in price.
>>
>>1777544
the main problem with this is you still need to provide ID to websites where you can buy metal with btc. tax or not theres still a paper trail
>>
on the topic of online wallets, why is blockchain no longer listed on the official recommended wallets?
>>
>>1776708
So you can't just cash out bitcoin?

What the fuck is even the point? You coiners are morons.
>>
>>1777606
90% of all coiners are degenerate gamblers. The other 10% rip the others off.
>>
>>1777606
sure you can, it would be equally difficult to try and "cash out" 200k worth of gold or silver if you were concerned about taxes.
>>
>>1777380
kek
>>
>>1776806
>>1776812
>have 200 btc
>store it at an online exchange
seriously wtf man
>>
>>1776744
>One thing I need to know is that am I able to go up to a lawyer knowingly that the way I made this money is illegal?
haha
haha
oh wow

hope you like your ass filled with prisoner semen OP
>>
>>1776708
what the fuck, please teach me. also, just fucking link your bank account. i withdraw from coinbase all the time.

this too >>1777381


>>1777359
i didn't even realize OP was inspect element, jeezus fucking christ i am retarded
>>
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>>1776708
>Coinbase
>>
>>1776708
coiners be gullible as fuck
when will they learn
>>
>>1776708
sent them to my wallet im in canada, you can come over to my place WHENEVER DUDE, free beer w/e
>>
>>1777359
pls sir, any spare change? me and my dog need to get some beanie weenies. god bless

19t9rChDzK9nY43X7HGaEk4myUt4EL517D
>>
Jesus fuck, they must already now about your money if its on coin base
>>
>>1776708
Interesting, how to make legalyonline casino? Do you need some license?
>>
>>1776744
>Not too sure what you're on. I had 4 investors who backed me up ~2.5M, I paid them their share and took home mine.

so. full. of. shit.

I "raised 2.5mm from some investors" and now have no idea how to "cash out my 200 BTC"

so investors gave a 17/18 year old 2.5mm to build an illegal gambling site and they didn't give you any advice on selling your supposed 200k profit?

I believe that you're 19 though. fucking lying children
>>
>>1776762
>currency not recognized or taken as tax revenue by the US government
>betting and playing with memecoin
>receiving memecoin for stupidity of others gambling
>income
Okay, buddy. Enjoy paying more than you have to. It's a investment no different than trading stocks.

My advice still stands. Hold it all for a year, pay the capital gains tax.
>>
>>1777324
Shhh, your nocoiner salt is showing.
>>
>>1779717
dont be such a little bitch, who cares if hes lying or not (and really who the fuck would waste time doctoring some coinbase webpage and taking a photo for the fucking retards on /biz/), its still a valid question
>>
I would hold out until March 11 if the ETF gets approved this price rise is nothing to what will come
>>
>>1776708
how'd you program the casino OP? what language? I'm actually really interested in this shit
>>
>>1779717

you should check out cryptocurrency reddits. lots of big bitcoin holders are really young. you almost have to be to appreciate cryptocurrency. they are also not from rich families and as a result they are really reckless with their newfound wealth.
>>
>>1776708
>buy a foreign shell company
>sell the bitcoin through its bank account
>withdraw cash from ATMs
>>
>>1776783
Wouldn't the IRS notice that all kinds of gold is delivered to his house?
>>
>>1781405
I don't think IRS tracks gold sales, do they?
>>
>>1781412
Obv not but do they track packages that are delivered to your house?
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