Sure it's great that the line always goes up but what good is that when it always has been and always will be impossible for us to trade our BTC back into cash? What a useless currency!
BTC bros how do we respond??
KYS.
he doesnt know about p2p/otc
my god, they are even more retarded than bobos. that's a new low.
seriously they really think we're not able to trade our crypto for usd? and that comment got upvoted lol.
Redd*t users are literally retarded.
he doesnt know
bitcoin has more liquidity than NVDA
This was almost a reasonable FUD back in 2010 when the only way you could cash out your BTC was to trade it for Second Life dollars on Virwox exchange.
You're not going to bankrupt coinbase in the current year with your $200,000 withdrawal, LMAO. Redditors minds became crystallized since 2012
$200,000 withdrawal
more like $200.00 LOL
the only time that dude has seen 6 digits was when getting a student loans for his woman studies degree
You're not going to bankrupt coinbase in the current year with your $200,000 withdrawal, LMAO.
you won't bankrupt them but they still won't give you your money
he's right in that they just lock your account and start demanding your tax documents from 30 years ago, your birth certificate, your autobiography of minimum 1000 pages, your parents birth certificates and their autobiographies, etc list goes on
this. i tried to get only 18k out of gemini and it was a massive pain in the ass to even do that
i doubt coinbase is different
wtf
If you sell... someone buys. The transfer is literally happening.
that's not how liquidity pools work
the Coinbase fud is because a bunch of faggots a few years back were doing shady things, online gambling, ransomware, drugs, etc, and their coinbase accounts got locked from cashing out due to terms of service violations. They are still buttmad about it.
Coinbase is easy to cash out of and there are no issues if you have a normal account and aren't doing explicity illegal/sketchy shit.
you won't bankrupt them but they still won't give you your money
I cashed out around that much in the last cycle. I don't know where you guys get this crap from. Coinbase handles billions of dollars in transactions every single day. Your withdrawal isn't even a rounding error to them.
you HAVE NEVER used a CEX in your life lmao
I have 4 accounts with a fake ID
2 with no KYC
are you jewish?
You are right though that you pretty much always need to do KYC when cashing out from an exchange. That's just a consequence of being American and living in the freest country in the world. People who trade stocks have to do it too.
i havent touched my coinbase account in years
i gaurantee if i sent my 70 eth (which i earned fairly and legally) from my cold wallet to my coinbase account and i tried to withdraw they would lock my shit up and extort me for personal info for months if not longer
already been through this with gemini over far less
its not just kyc you have to do. you have to hand over tax documents and other stuff. if you bought on binance originally or some DEX and you dont have a meticulous paper trail (which i dont because ive been doing this since 2017) then they will not let you have your money without a massive fight
When the time come, what's the best way to sell BTC from my cold wallet to USD without sending it to Coinbase and cashing out? Or is just using Coinbase the best/simplest option?
I've been living entirely off crypto for the past 5 years and I've never even once had a problem selling and withdrawing money to my bank account.
Gemini has always been shit. Literally their selling point is that they're the most highly regulated exchange. If you've already sent your doxx to coinbase then they're not going to lock you out. And if you're really worried, you can just cash out smaller bits at a time to mitigate risk.
When you have 6 figures sitting in crypto, you find a way to cash out. Only possible fall for reddit-tier FUD about it being impossible
When I "cash out" it will be in gold, not dollars. Governments can freeze your bank account and cashing out reveals to the government your gains.
How DO they work
Are you?
You don’t sell crypto, retard
How?
Low liquidity was a real issue back in the day. In Reddit people learn an extremely superficial and outdated amount of information about any given topic and then they consider themselves experts on the issue. That’s why it is unusable and every sub is full of “beginner here!” posts
thats because you are a regular user
if you are a long term hodler whos been using a cold wallet, they make it extremely difficult
oh ill find a way, but its bullshit that people act like its easy. and dripping it out slowly may work for a little bit but its just going to result in an IRS audit
I sent a total of $40k from my cold wallets to coinbase throughout 2023 and I was able to have it in my bank account within 2 business days of selling it every time.
It's easy if you bought the crypto from the exchange to begin with. If you try to cash out 5 figures of monero with zero paper trail behind it then they might try to shut you down for money laundering or something.
im beginning to think this is the way, and not for the right reasons. but only because the fudders are right - exchanges wont let you withdraw, and if you do manage to wrangle your money back from them somehow, they will put you on a list and IRS will fuck you somehow later down the line
Tell that to RLC niggas LOL
This is correct. It's helpful if you've BOUGHT Bitcoin in large amounts through Coinbase. That is a key factor in trusting them. But 1 $40k worth of btc, send to cold wallet, never login to Coinbase. Two years later send to the Coinbase wallet, plus another half a bitcoin, log in, and request cash out and they'll have no issue.
This is true but it's because you're a shitty customer so you have no priority. If you want to clear out a bunch of Mondero, etc, through Coinbase, the smart thing is to first buy something from them. If you've paid CB $1,000 in transaction fees at some point they're far less likely to put you in the back of the queue or hassle. It's part of both KYC and their business.
For the same reason, you're less likely to get banned from social media where you've purchased ads.
youre making it sound harder to get fucked than it is. sorry but thats bullshit
youre right about if you didnt buy it on coinbase and then you try to withdraw from coinbase you are fucked. but the monero shit isnt even necessary. im just talking regular old eth that ive been holding for 7 years. yeah i originally bought on binance years ago. no i dont have a record of all that shit because my binance account was closed years ago. thats literally all it takes to make this a nightmare
it's not that the coins youy are selling have to have been bought on Coinbase, it's that you've never bought ANYTHINGn from coinbase. Their busines doesn't gain by letting you use them as a clearing house - they want you to be a paying customer. Get it?
youre saying this as if its reasonable. its completely fucked. who cares if i didnt buy from them? i bought it legally from another exchange that no longer services US citizens. what else am i supposed to do with it?
right, so like i said... at this point its basically extortion. they wont let me have my money unless i play their game - whatever it may be. my original point is they do NOT make it easy to get your funds in many normal cases like mine. and propogating that its so easy for everyone is bullshit that needs to be called out.
why should i get fucked because i bought from binance in 2017 and held responsibly on a cold wallet? many such cases btw, im not some massive outlier.
im not which is why coinbase would lock me out
he doesn't know
you can always trade your BTC to USDT with P2P and, also, you can swap your BTC to BRC20 tokens and bridge your BRC20 tokens to EVMs with satoshirouter
you are literally braindead
when you say p2p, can you elaborate?
how would you even do that without massive risk of getting scammed?
You had one single bad experience with an exchange that's known to be quite stringent with its regulatory compliance. I think is right. If you already have a history of using the exchange then you'll have no issue. If a brand new user with no history tries to cash out, then it looks more suspicious and they have to jump through more hoops to rule out crime/money laundering. I guess once it gets big enough, you could just hire a tax lawyer to help sort all this shit out and get documents in order to make it easier to provide that info should anybody ask for it
you think you have it bad after you bought on binance? I bought on ETHERDELTA. Try explaining that
so essentially for many people the fud is correct. thats all im saying. getting into the details of WHY is a waste of time. Its a MASSIVE pain in the ass to get your withdrawal. My personal experience with gemini outweighs your speculation. oh and i bought a lot through gemini and they STILL fucked me. Why would i expect coinbase to be any less jewish, especially when i have so much more on the line these days.
yeah its completely fucked. thats why i call out these people acting like coinbase wont fuck you. just because theyve been using them for years because they got into this scene much later than me or you. its fucked
how
trade with a white person.
You can't cash out.
Lol. Lmao even.
It's not correct for people who bought and held bitcoin. You can use blockchain history to prove when and where you made the transactions, even if your Binance account was shut down.
If you've been playing around on DEXes without reporting any of the transactions, then you might be a little fucked because you're technically supposed to report those transactions to the IRS in America. That's not what the average normie does though.
it is the receiving bank that asks those retarded things from you
the exchange already knows where your money comes from
they would only ask for posof for incoming coin transfers not for outgoing cash
if you try to fud at least be somewhat decent at it
brother, even white people are niggers these days. not viable unless you are already connected
Dude quit bitching and get your documents in order.
wahh, the exchange asked me for more info instead of letting me cash out $100k anonymously. Cashing out is impossible
This
ive never used a dex, and gemini still held my measley 18k worth of eth for months before letting it go (only after a ton of legal threats). and i had bought a lot from gemini prior to that.
i have no reason to believe coinbase is any better
fucking newfag, anyone who has been holding as long as me doesnt have documents. there wasnt even us tax law written when i bought. the legal exchange i used legally doesnt still have those documents.
i think my point has been made. if you are an oldfag who has been holding responsibly and legally, you WILL get fucked when trying to withdraw. you newfags have it easy
I wouldn't trade with any of you faggots
You didn't get fucked, you were still able to cash out. It's such a small price to pay for 5+ figures of profit. Even if you have to hire a professional to help you, it's still a tiny price to pay. Usually, you have to invest through brokers and middlemen anyway. Having to go back and sort out some documents is such a nothingburger when you're talking about life changing profits.
so like ive been saying all along. massive pain in the ass. i just have a problem with people always acting like its so easy. now that im mentally prepared for the battle, you are right, it should be managable. but people expecting an easy time who find themselves in that situatuon, it can be terrifying and you will feel powerless. my whole point is its not always that easy, even if youre just a regular (law abiding) long term holder.
p2p on bitcoins
no one uses this slow as hell public ledger sh*tcoin
why don't you just dump your boomer coin profits pay the tax overlord and dump aftertax in stocks and put some aside in real cryptocurrencies like monero? Bitcoin really is a shitcoin. No wonder there are ETH maxis.
sort out some documents
also this is underselling what a pain in the ass it is
just pay a jewish tax lawyer
yeah totally easy and painless to get my money. lol
If filling out a bit of paperwork and going though some bureaucratic bullshit is the only thing standing between me and serious amounts of money, then I'd consider that to be easy. Every other avenue for obtaining wealth is significantly more challenging than that. I would recommend to any anons to start thinking about this now because we're heading into another bull and you are gonna have to deal with this eventually.
give us documents proving you obtained this legally
i...i dont have them because that was never a requirement in 2017
fuck off then, we are alerting the IRS and you will be audited
yeah no hassle at all
lol its so easy no problem at all
ok maybe its a little bit of a hassle if you got it somewhere else. you did only exclusively use coinbase didnt you??
oh ok well maybe you have to fill out some forms
what do you mean?? just get a lawyer!
lol you wont get audited dont be silly
well as long as you made life changing money its worth all the hassle! oh its only 150k? well why dont you just pay a third of that trying to get your money back. STOP ACTING LIKE THIS ISNT SUPER EASY AND STRAIGHTFORWARD
goalposts always shifting with these kikes