1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[BornStar]

Honestly I'm probably just getting a card when it comes to making my transactions, fiat money can kiss my ass I'm tired of inflation and wage stagnation

I also plan to put earnings into other assests through interest accounts, already using blockfolio and will use celcius next



shyt just trips me out lol like my fiancee was like look boo, my bank paid me .03 in interest

But shyt I make triple that with like 10$ staking my tezos lol, and my eth and btc interest is like 5$ a month at this point, so yeah fukk cashing out, fukk these banks



And fukk these taxes, cashing out means you gotta pay that shyt (with simultaneous inflation) EVEN THOUGH WE CAN PRINT THAT MONEY ANYWAY shyt is just so stupid to me, if I made a few M's off crypto I'll just convert it to dai or usdc.

I fully agree with that cash out plan.

Do you plan on buying or investing in real estate? I can see myself paying off some homes in full whether its cash or crypto hopefully.

I do not want to cash it out into fiat I'm hoping to make full expensive purchases in crypto.

There is a dire need to spend the earning you acquire from crypto it needs to be cashed out or transfered to some other type of asset because once that market reaches the top you already know the bear market will come with a fierce vengeance.

 

[old pig]

Speaking of better times coming.. does anyone have a detailed cash out plan that they recommend?

I've used gemini exchange for the past 2 years...I got verified at the top of 2018...I trade whatever coins I own on other exchanges for BTC then transfer the BTC over to gemini and sell it...then withdraw the money to a linked bank account...if you make the withdrawal before 12PM on a business day then you will have it by the next business morning even tho they say it takes 3-5 business days

I've been fortunate and have had zero problems with them but I’ve heard some stories of ppl having their accounts locked...ppl being denied verification and some states are flat-out excluded from using gemini

 

[old pig]

^^^

I crossed out the last line because gemini is now available in all states...this wasn’t always the case...so the verification process might be easier as well since they are more selective

 

[old pig]

you can also do the same with coinbase

I have a coinbase account as well but I’ve never used it to withdraw or deposit money because I’ve heard horror stories about ppl having their bank accounts closed (with a timely warning that allowed them to withdraw their money) for being associated with coinbase...these horror stories tend to be outliers but it still is important to be aware of them

 

[the bossman]

I've used gemini exchange for the past 2 years...I got verified at the top of 2018...I trade whatever coins I own on other exchanges for BTC then transfer the BTC over to gemini and sell it...then withdraw the money to a linked bank account...if you make the withdrawal before 12PM on a business day then you will have it by the next business morning even tho they say it takes 3-5 business days

I've been fortunate and have had zero problems with them but I’ve heard some stories of ppl having their accounts locked...ppl being denied verification and some states are flat-out excluded from using gemini

How have you been paying the taxes on your crypto? that's the part that got me most nervous about when I pull out

 

[old pig]

How have you been paying the taxes on your crypto?

 

[the bossman]

 

[old pig]

...but nah seriously I posted some info a few weeks back...might be kind of outdated tho and was more applicable at the time a couple years ago

*edit*

hold on...I might have some info...links/info might be outdated tho

here’s one...

Calculate Bitcoin and Crypto Taxes for Capital Gains and Income

...also...

CRYPTOCURRENCY TAXES: The Guide You Need To Read - Crypto Tax HQ

 

[Uitomy]

I fully agree with that cash out plan.

Do you plan on buying or investing in real estate? I can see myself paying off some homes in full whether its cash or crypto hopefully.

I do not want to cash it out into fiat I'm hoping to make full expensive purchases in crypto.

There is a dire need to spend the earning you acquire from crypto it needs to be cashed out or transfered to some other type of asset because once that market reaches the top you already know the bear market will come with a fierce vengeance.

Yeah that'll be the best option for me. Real estate will def cut on those taxes and with me being in florida more people are probably coming to live here so I think the market won't get hit as bad during this depression coming up

I think it's so much money invested into crypto that people are going to have to adopt and adapt or get left behind


Also I think converting to gold and silver is also a great option, that'll be the closest to cashing cashing out I'll get

 

[mannyrs13]

Yeah that'll be the best option for me. Real estate will def cut on those taxes and with me being in florida more people are probably coming to live here so I think the market won't get hit as bad during this depression coming up

I think it's so much money invested into crypto that people are going to have to adopt and adapt or get left behind


Also I think converting to gold and silver is also a great option, that'll be the closest to cashing cashing out I'll get

Ima have to see what's good from you since I'm in Florida also.

 

[the bossman]

What are you buying breh?

Some more ETH, and increasing my DeFi holdings - AKRO & BREE

 

[KingTut]

Crazy Twitter thread from the guy who rekt SYFI. Watched his 1.5 ETH profit turn into 740 ETH in minutes. I would've done the same tbh

 

[Numpsay]

Haven't looked at this shyt in over a year. Down 3k .

Most of my shyt coins went to shyt. Is there any worth to jumping back in at this point. Wish I knew TRX jumped to .04 the other day.


Edit* I see there was some money to be made back in June

 

[KingTut]

Haven't looked at this shyt in over a year. Down 3k .

Most of my shyt coins went to shyt. Is there any worth to jumping back in at this point. Wish I knew TRX jumped to .04 the other day.


Edit* I see there was some money to be made back in June

Only money to be made right now is with DeFi tokens with Uniswap. Most of them are scams unfortunately. I've made a little money on some of the rug pulls but it requires you to be at your computer/on your phone damn near 24/7


At this point my only long term holds are BTC, ETH, LINK, and YFI.

 

[Numpsay]

Only money to be made right now is with DeFi tokens with Uniswap. Most of them are scams unfortunately. I've made a little money on some of the rug pulls but it requires you to be at your computer/on your phone damn near 24/7


At this point my only long term holds are BTC, ETH, LINK, and YFI.

Thanks breh if I do jump back in I'll stick with the basics. I probably won't look into doing so until after the holiday season though.