Silk Road forums
Discussion => Philosophy, Economics and Justice => Topic started by: Chaosforpeace on March 26, 2013, 01:42 am
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
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How is transferring BTC from one SR account to another 'washing'? Utter nonsense.
Send them to an exchange, sell for a currency of your choice and withdraw to an anonymous bank account. Withdraw cash and spend it.
It really isn't complicated.
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Right. There are no such things as "anonymous" bank accounts.
Does the money appear in your pockets from magic? Do you not pick up cash from somewhere? Where do you live that there aren't cameras? iPhones? Computers?
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Right. There are no such things as "anonymous" bank accounts.
Does the money appear in your pockets from magic? Do you not pick up cash from somewhere? Where do you live that there aren't cameras? iPhones? Computers?
I highly doubt ATMs record data on who withdrew how much cash and when. If so, it doesn't really matter if there's CCTV or not. The bank doesn't know who you are in either case.
If you're just trying to hide from the taxman, it's a perfectly viable solution. It has it's limitations of course but doesn't everything?
Just to clarify, I was implying an offshore bank account.
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If you are in the USA check out localbitcoins.com . If you are in a semi-big city you should have no trouble selling them tax-free to someone
Or buy gold or silver on one of the sites that accept bitcoins. Go sell that gold to a pawnshop.
I could go on..
EDIT__
Wait, i read this wrong. You want to pay taxes on your coins? Like you are trying to go out of your way to do it? Good for you...I guess
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Pawn shops all over America... to avoid detection. Regular dealings = xoxo with LE
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
How many stupid questions must you ask?
FFS -
How to import 40kg cocaine?
How to skip drug tests after having your house raided and police finding thousands of NBOMe tabs?
And now how to cash out of Silk Road?
Do some fucking research & use your brain (if you have one).
And no, nobody is jealous of you. You're clearly an idiot who has no idea what they are doing!!
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
How many stupid questions must you ask?
FFS -
How to import 40kg cocaine?
How to skip drug tests after having your house raided and police finding thousands of NBOMe tabs?
And now how to cash out of Silk Road?
Do some fucking research & use your brain (if you have one).
And no, nobody is jealous of you. You're clearly an idiot who has no idea what they are doing!!
Damn son chill the fuck out.
These lowly ass mother fucken haters always gon hate.
You had a bad day man? Your boyfriend left you? Your balls fell off? Your father raped you as a boy.
I feel ya bro, smoke some weed, take some lsd, or overdose on something and be at peace man.
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Right. There are no such things as "anonymous" bank accounts.
Does the money appear in your pockets from magic? Do you not pick up cash from somewhere? Where do you live that there aren't cameras? iPhones? Computers?
I highly doubt ATMs record data on who withdrew how much cash and when. If so, it doesn't really matter if there's CCTV or not. The bank doesn't know who you are in either case.
If you're just trying to hide from the taxman, it's a perfectly viable solution. It has it's limitations of course but doesn't everything?
Just to clarify, I was implying an offshore bank account.
This discussion is all bamboozling to pine, but FYI, some thoughts:
1. Not only do ATMs record that data, but they usually photograph the face of the person withdrawing the cash at that time. There is a hidden camera in the back of most ATMs, you can't see it. ATMs are connected by modem or similar to the bank's computer network, they are not at all like the money version of soda dispensing machines, all the heavy lifting re: encrypted communications, database stuff, is done back at HQ.
2. Numbered accounts, useful though they are, have far more limitations regarding anonymity than the bitcoin network. It doesn't matter if you have a numbered account, the intermediary still knows factoids such as how much cash you withdrew, where it was at etc. You're essentially dependent on a private banker not giving you up in return for a hefty fee. I'm sure this was all the rage in the 70s and 80s, but now we have bitcoin! Swiss bank accounts for the masses! The issue now is we need some manner of abstraction to make bitcoin as better store of value since the exchange rate is as volatile as fuck.
3. Not paying tax is an advantage. Unless you have a lot of money, and I do mean "alot", which you need to launder in order to interact with the traditional economy. Otherwise you should probably convert the excess over your living expenses into literal cash deposits of various currencies squirreled away at different places and/or gold bars to offset inflation. But paying taxes without an ulterior motive is not something I comprehend. I hope you're not suffering from Stockholm syndrome! :)
4. I think you could do this. But the result would be that there will be the Mark of Cain on you for even admitting officially that you gain monies from the bitcoin economy period. SR vendors should ideally, if questioned by people connected to officialdom either claim they know nothing about bitcoin, or claim they have investigated, geeked it out and it's the dumbest idea since Superbowl tofu dogs. Tell curious people how bitcoin doesn't measure up to the Platonic ideal or Aristotelian conception of money or something equally dense and they won't be able to get you to STFU fast enough.
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I don't even know what to say to this thread. If you are trying to pay taxes on your bitcoins, just put them in Mt.Gox, and wire them to your account, and then simply pay taxes. If anyone asks, you purchased bitcoins when they were 1$/peice and are now cashing out.
If you're trying to launder money, do the following:
Register an anonymous share bearer corporation in Guatemala.
Get a bank account on that corporation with world-wide debit
Be ready to pay ATM withdrawl fees OUT YOUR ASS
Put all money in guatemalian corporation
Guatemala laws state that any offshore derived income to your corporation is taxed at a flat rate of 250$
Pay guatemala government 250$/year
Never visit guatemala
Enjoy money.
Simple.
Good luck.
(How are you still alive?)
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
Imo I don't think they need to catch you, you'll probably just pay up the wazoo.
I'm not an expert, so take all this with a grain of salt. What you're attempting would be like if you were making money off Forex trading. (profiting from changing currency exchange rates) More specifically: Forex trading with a non CFTC broker (OTC)... if the IRS does classify you as this, then I think you pay normal tax rates, if not:
- In your case, since it's been some time since BTC was $1, this would be considered Long Term Capital Gains. Yet, you've failed to report/file taxes for this investment all these years.
- If you say only went back to the price at the beginning of the year, you could be taxed at Short Term Capital Gains rate of 35%!!!
- Long term or short term, you don't have documentation/1099 from a CFTC broker proving that what you say is legit... & BTC is suspect for money laundering.
Like I said, I'm no expert in investment taxation... so I'll leave it up to you to google "OTC Forex taxation"... "Forex taxation no 1099", "Capital Gains tax no 1099" etc. etc. etc.
Imho... this is a terrible way to try and launder your profits from those 40 kilos
GL
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
Imo I don't think they need to catch you, you'll probably just pay up the wazoo.
I'm not an expert, so take all this with a grain of salt. What you're attempting would be like if you were making money off Forex trading. (profiting from changing currency exchange rates) More specifically: Forex trading with a non CFTC broker (OTC)... if the IRS does classify you as this, then I think you pay normal tax rates, if not:
- In your case, since it's been some time since BTC was $1, this would be considered Long Term Capital Gains. Yet, you've failed to report/file taxes for this investment all these years.
- If you say only went back to the price at the beginning of the year, you could be taxed at Short Term Capital Gains rate of 35%!!!
- Long term or short term, you don't have documentation/1099 from a CFTC broker proving that what you say is legit... & BTC is suspect for money laundering.
Like I said, I'm no expert in investment taxation... so I'll leave it up to you to google "OTC Forex taxation"... "Forex taxation no 1099", "Capital Gains tax no 1099" etc. etc. etc.
Imho... this is a terrible way to try and launder your profits from those 40 kilos
GL
you dont pay tax on investments until you cash out
OP, if you paid tax on your earnings, then you'd be paying tax on your initial capital, which would eat your profit margin destroying any reason to vend on here. Dont do that.
The fact is you can cash out anonymously then claim your profits as an independent contractor for something hightech like freelance programmer or whatever. No way to prove it and as long as you stay within your socially approved boundaries and pay your share they're not going to give a shit.
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
Do not implement your plan. It will fail. You do not need to go through all that rigamaroll just to pay taxes on illegal income. the IRS does not care that you are conducting an illegal business, just as long as you pay your taxes. prostitutes pay taxes, bookies pay taxes. even the fake hitmen on the deepnet pay taxes. look it up. there are some specific tax benefits that an illegal business losses out on compared to a legal business enterprise. But as long as you pay your taxes according to IRS rules, the IRS won't care that you are a vendor on SR. Your plan entails lying about your true income and expenses. Any lawyer will tell you, never lie to LE. This includes the IRS. Your better off staying silent, than lying.
Now, will the DEA look at your tax return as an admission of guilt? There are varying opinions on that. Again you can look that up or speak with a 5th amendment lawyer. But I doubt the DEA even has an intern looking through tax filings trying to find people declaring income as a SR vendor. I doubt anyone at the DEA even knows how to read a proper tax filing. But I guarantee you, the IRS has teams of agents looking for people NOT paying their taxes on legal and illegal income. You need to know what are likely threats to your business. Yes the DEA is a very scary vector of attack. But the IRS vector of attack is much more likely.
And before anyone flames me for advising someone to admit to being a drug dealer, you can file taxes on illegal business activities without admitting what type of illegal business activity you are actually involved in. This will protect you from non-IRS LE because they must bring specific charges against criminals. LE must suspect you of committing a specific crime and not just suspect you of generally being a criminal.
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Why would you want to pay for people who are trying to stop you? I wouldn't hire a bunch of armed thugs to beat me up for working at my job, so why would you?
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If you want to pay taxes on your drug income because you believe it is your moral obligation to society or whatever, props to you for sticking to your ideals in a highly compromised world. If you want to pay taxes on your drug money to avoid trouble with the law, don't do it. The worst thing you could do is mention bitcoin on your taxes, because every tax prosecutor thinks BTC is just something people use to launder money and/or trade for illicit drugs.
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Would this work??
Let's say I'm selling on SR making a huge amount of money like every vendor clearly does.
So I take out my coins, wash them thoroughly through several Silk Road accounts then to BMR then to instawallet.
Then I sell said coins on eBay. I claim that I purchased thousands of coins when they were only worth 1$ each. And I pay tax's on said coins that I claimed I bought legally with cash through bitinstant.
Would this work?? How would I possibly be caught?
Do not implement your plan. It will fail. You do not need to go through all that rigamaroll just to pay taxes on illegal income. the IRS does not care that you are conducting an illegal business, just as long as you pay your taxes. prostitutes pay taxes, bookies pay taxes. even the fake hitmen on the deepnet pay taxes. look it up. there are some specific tax benefits that an illegal business losses out on compared to a legal business enterprise. But as long as you pay your taxes according to IRS rules, the IRS won't care that you are a vendor on SR. Your plan entails lying about your true income and expenses. Any lawyer will tell you, never lie to LE. This includes the IRS. Your better off staying silent, than lying.
Now, will the DEA look at your tax return as an admission of guilt? There are varying opinions on that. Again you can look that up or speak with a 5th amendment lawyer. But I doubt the DEA even has an intern looking through tax filings trying to find people declaring income as a SR vendor. I doubt anyone at the DEA even knows how to read a proper tax filing. But I guarantee you, the IRS has teams of agents looking for people NOT paying their taxes on legal and illegal income. You need to know what are likely threats to your business. Yes the DEA is a very scary vector of attack. But the IRS vector of attack is much more likely.
And before anyone flames me for advising someone to admit to being a drug dealer, you can file taxes on illegal business activities without admitting what type of illegal business activity you are actually involved in. This will protect you from non-IRS LE because they must bring specific charges against criminals. LE must suspect you of committing a specific crime and not just suspect you of generally being a criminal.
Think of the thousands of state legal cannabis dispensaries paying both state and federal taxes...
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Why would I pay tax's you ask. Well when someone notices my lamborghini they might just ask how I bought it. Then I get fucked because my income is definitely not enough to buy all the expensive shit I would buy. So I need to launder my money so that it shows I make a certain amount of money.
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Why would I pay tax's you ask. Well when someone notices my lamborghini they might just ask how I bought it. Then I get fucked because my income is definitely not enough to buy all the expensive shit I would buy. So I need to launder my money so that it shows I make a certain amount of money.
So stop buying so much expensive shit. Being materialistic is a sign of immaturity anyway. Not saying you are immature, just, my thoughts on the matter.
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Why would I pay tax's you ask. Well when someone notices my lamborghini they might just ask how I bought it. Then I get fucked because my income is definitely not enough to buy all the expensive shit I would buy. So I need to launder my money so that it shows I make a certain amount of money.
So stop buying so much expensive shit. Being materialistic is a sign of immaturity anyway. Not saying you are immature, just, my thoughts on the matter.
Ill do whatever the fuck I want with my money. I worked damn hard for it my whole life. If I didn't want shit than explain why do I need to earn everything I have?
If I wasn't materialistic then I would have retired years ago. I'm American so by nature, greedy.
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Greed by itself is a corrupt enterprise. It is similar to Orwell's absolute power corruption. It is a fragile state of one's mind to be completely self-involved and narcissistic, and a vile inner life, baron without the happiness of love and friendship.
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Greed by itself is a corrupt enterprise. It is similar to Orwell's absolute power corruption. It is a fragile state of one's mind to be completely self-involved and narcissistic, and a vile inner life, baron without the happiness of love and friendship.
Exactly
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you would wash your coins through a service like bitcoin wash (i believe it was called?)
withdraw that into your wallet account and deposit, nothing over 5k. Withdraw $$.
I would hold off on the lamborghini though haha. seems way to flashy. Why not opt to travel the world and experience different walks of life?
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I geuss best way is to cash out to usd then make a legit buisness with whatever I buy.
Like buy 1000 iPhones on eBay than make an eBay listing for iPhones at a discounted rate.
Best idea is to buy limetless consultation
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I geuss best way is to cash out to usd then make a legit buisness with whatever I buy.
Like buy 1000 iPhones on eBay than make an eBay listing for iPhones at a discounted rate.
Best idea is to buy limetless consultation
If that is your plan on how to launder money, you really need some help
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I geuss best way is to cash out to usd then make a legit buisness with whatever I buy.
Like buy 1000 iPhones on eBay than make an eBay listing for iPhones at a discounted rate.
Best idea is to buy limetless consultation
If that is your plan on how to launder money, you really need some help
What to ask a professional buisness consultant? Damn your right I should just walk into a bank and yell at the first person who works there. "I NEED TO GET MY DRUG MONEY CLEAN CAN YOU HELP ME!!!!"
Thanks jorg, I appreciate your input
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I geuss best way is to cash out to usd then make a legit buisness with whatever I buy.
Like buy 1000 iPhones on eBay than make an eBay listing for iPhones at a discounted rate.
Best idea is to buy limetless consultation
If that is your plan on how to launder money, you really need some help
What to ask a professional buisness consultant? Damn your right I should just walk into a bank and yell at the first person who works there. "I NEED TO GET MY DRUG MONEY CLEAN CAN YOU HELP ME!!!!"
Thanks jorg, I appreciate your input
If you can't even work out how to launder money efficiently, you are in idiot.
Along with the many, many other questions you have asked on Silk Road forums...
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Your obsession with me is really starting to freak some people out. No I will not be your father. You better not call me daddy. No matter how many times iv fucked your mother, I still don't want to hear you call me daddy.
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Your obsession with me is really starting to freak some people out. No I will not be your father. You better not call me daddy. No matter how many times iv fucked your mother, I still don't want to hear you call me daddy.
it's because I read a lot on the forums, and I have seen several posts from you.
Worked out how to launder money yet?
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Your obsession with me is really starting to freak some people out. No I will not be your father. You better not call me daddy. No matter how many times iv fucked your mother, I still don't want to hear you call me daddy.
it's because I read a lot on the forums, and I have seen several posts from you.
Worked out how to launder money yet?
Don't make me spank you again. Damn it jorg your mother is going to start crying again, now I'm going to have to spank her to.
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Well since you can't even answer the question, clearly it's a no.
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Well since you can't even answer the question, clearly it's a no.
That's it jorgy, I'm taking out the paddle
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If you have so much money, then hire a lawyer to legitimize it... you know, laundering... that way, at least some of it goes into local, state, and federal taxes...
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sometimes we need to be polite to one another. I have learnt a lot from this article so please stop insulting.
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This is really just one of those retarded threads. It started retarded and has just got more retarded as it carried on.
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This is really just one of those retarded threads. It started retarded and has just got more retarded as it carried on.
Like a three legged dog trying to cross the road. Poor bastard. :-[
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This is really just one of those retarded threads. It started retarded and has just got more retarded as it carried on.
Like a three legged dog trying to cross the road. Poor bastard. :-[
Yeah pretty much, as I kept going through it my eyes closed more and more into the "Whaaaat Squinty Face".
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This is really just one of those retarded threads. It started retarded and has just got more retarded as it carried on.
Like a three legged dog trying to cross the road. Poor bastard. :-[
Yeah pretty much, as I kept going through it my eyes closed more and more into the "Whaaaat Squinty Face".
I call that the "You want me to suck WHAT!?" face.
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This is really just one of those retarded threads. It started retarded and has just got more retarded as it carried on.
Like a three legged dog trying to cross the road. Poor bastard. :-[
Yeah pretty much, as I kept going through it my eyes closed more and more into the "Whaaaat Squinty Face".
I call that the "You want me to suck WHAT!?" face.
Ha ha! That's got me rawfuling--(rofl).
No, but seriously, the answer to this question is to live within your means. If you wanna be "upscale", then you have to pay to protect your money... and pay well. Nothing is free in this world--except prison sentences... but even those come with a price. Avoiding prison requires paying a BIG price.
Be a good person. Do the right thing. 8)