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I just realized this.
I have bitcoins, from blackhat business, and was thinking in myself.
Let's say bitcoin has fallen, or I think it will decline, where would I keep my money?
It's not so evident to keep in my real bank, because I didn't report any of this income.
So I was thinking, hey, I can just convert the BTC to EUR or USD, and keep it in coinbase EUR account.
That way, if BTC drops, or even crashes, I won't lose my money, and it won't be subject to any fluctuations.
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Thinking Coinbase is a safe place or "bank" to store money is like using an actual bank.
They report everything. Please do not think this is an OK method sir.
(Apr 27, 2019 07:02 AM)Raymond "Red" Reddington Wrote: I just realized this.
I have bitcoins, from blackhat business, and was thinking in myself.
Let's say bitcoin has fallen, or I think it will decline, where would I keep my money?
It's not so evident to keep in my real bank, because I didn't report any of this income.
So I was thinking, hey, I can just convert the BTC to EUR or USD, and keep it in coinbase EUR account.
That way, if BTC drops, or even crashes, I won't lose my money, and it won't be subject to any fluctuations.
It's not like Coinbase is verified with your ID but okay
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(Apr 27, 2019 07:04 AM)Bromden Wrote: What, you're storing BH money on coinbase? Genius! (I'm kidding, get a grip kiddo)
I dont know what made you think telling people online would be smart as well.
(Apr 27, 2019 07:05 AM)trazadone Wrote: Thinking Coinbase is a safe place or "bank" to store money is like using an actual bank.
They report everything. Please do not think this is an OK method sir.
(Apr 27, 2019 07:06 AM)isu Wrote: It's not like Coinbase is verified with your ID but okay
I'm not stupid.
I don't accept the funds directly to CoinBase.
I exchange and the exchanger sends his BTC to my Coinbase acc.
By the way, blackhat, cuz you don't pay taxes on it, and it's kinda illegal, but not like Botnet or RATs type of stuff.
(Apr 27, 2019 07:15 AM)Raymond "Red" Reddington Wrote: I'm not stupid.
I don't accept the funds directly to CoinBase.
I exchange and the exchanger sends his BTC to my Coinbase acc.
By the way, blackhat, cuz you don't pay taxes on it, and it's kinda illegal, but not like Botnet or RATs type of stuff.
Since when was not earning enough to bother paying tax make you a black hat? You just fucken broke my man.
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(Apr 27, 2019 07:15 AM)Raymond "Red" Reddington Wrote: I'm not stupid.
I don't accept the funds directly to CoinBase.
I exchange and the exchanger sends his BTC to my Coinbase acc.
By the way, blackhat, cuz you don't pay taxes on it, and it's kinda illegal, but not like Botnet or RATs type of stuff.
Listen to what you're saying though. You want to not claim taxes on it but storing it in a place that reports to the IRS or whatever tax agency for your country.
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(Apr 27, 2019 07:15 AM)Raymond "Red" Reddington Wrote: I'm not stupid.
I don't accept the funds directly to CoinBase.
I exchange and the exchanger sends his BTC to my Coinbase acc.
By the way, blackhat, cuz you don't pay taxes on it, and it's kinda illegal, but not like Botnet or RATs type of stuff.
get ya money up not ya funny up
Move to an exchange ID verified account. Buy Tether. +rep thanks
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Apr 27, 2019 08:07 AM
(This post was last modified: Apr 27, 2019 08:08 AM by Raymond "Red" Reddington.)
(Apr 27, 2019 07:19 AM)Spaark Wrote: Since when was not earning enough to bother paying tax make you a black hat? You just fucken broke my man.
Taxes here are 30% for students and easily 40%+ or up to 50% for non-students.
I don't imagine not wanting to pay that makes me broke. 🙂
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idk like you can also just hedge? Bitmex no KYC at all you for example have 10K in btc you long with no leverage for 5K and short with 5K at the same price.
you don't have a fee to pay cus u don't use leverage and u don't have lose money because well you are fully hedged
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(Apr 27, 2019 07:20 AM)Vanilla Wrote: Move to an exchange ID verified account. Buy Tether. +rep thanks Upgrade to an exchange acc on Coinbase and invest in Tether because that's gonna make me rich?
(Apr 27, 2019 08:10 AM)Raymond "Red" Reddington Wrote: Upgrade to an exchange acc on Coinbase and invest in Tether because that's gonna make me rich?
smh dude. go to bittrex and move your btc to tether. tether is always 1$...
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(Apr 27, 2019 08:20 AM)Vanilla Wrote: smh dude. go to bittrex and move your btc to tether. tether is always 1$...
Tether is subject to fluctuation like any other crypto currency.
(Apr 27, 2019 08:29 AM)Raymond "Red" Reddington Wrote: Tether is subject to fluctuation like any other crypto currency.
Tether also just got wacked by the FTC, stay tf away. EU coinbase account should be fine, if it's fully verified and the balance is under $10K I think you can trade on Coinbase Pro for near-free.
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(Apr 27, 2019 08:31 AM)Dark Wrote: Tether also just got wacked by the FTC, stay tf away. EU coinbase account should be fine, if it's fully verified and the balance is under $10K I think you can trade on Coinbase Pro for near-free.
Don't worry, I wouldn't touch it with a ten-foot pole.
Trading is not really a thing I want to do necessarily. Just accept and store it.
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