try swapping to USD on coinbase and it didn't go through like normal... they sent me this email instead
...we got too cocky
USDC bros...
Falling into your wing while paragliding is called 'gift wrapping' and turns you into a dirt torpedo pic.twitter.com/oQFKsVISkI
— Mental Videos (@MentalVids) March 15, 2023
who use USD in 2023?
EUR Chad here btw
This retard still keeps his money on Coinbase in 2023 after Gemini, FTX, SVIB, etc. Nigga what the fuck are you doing?
Not just keeping money on coinbase... keeping STABLECOINS.
Talk about failing 2 IQ tests at once.
I literally just deposited this money today for my regularly scheduled slurps
hey weeb, i have all of my holding in cold storage except its all usdc, am i going to make it?
coinbase holds 1m bitcoins in reserves, if they go down the whole market is done
thats why i just took the opportunity to cash out all of my bitcoin on coinbase and pay the fee to instant transfer to my bank before people start to panic and head for an exit. these things take some time to set in...
congrats, you just created a 20% capital gains tax applicable transaction that CB will 100% report directly to the IRS with an SAR report. you played yourself.
He made 20% profit off USDC? How??
i'm assuming he is cashing out crypto gains, not his lunch money from two weeks ago
Huh? But swapping the original crypto to USDC wouldve already counted as that taxable event for that?
but it doesnt get reported until it converts into USD
Wrong. Well, maybe if you lie to IRS.
>paying 20% tax on $2.65 gain
He has to actually make a profit on the transaction you absolute dolt. This would only affect him if he’s never filed a tax return ever. If anything he can deduct gains from this event because he probably lost 50 dollars on the transaction.
USDC/USD swaps are free on coinbase
...or, well, they were until coinbase disabled them
Do you see the part that says "You sold"? That means your USDC was converted to USD. You now own USD.
luckily it did go through, but it took a few minutes AFTER I received that email
The reason this is happening is because of the Ukraine war
Aka Biden’s war in Ukraine. He is the one funding the whole thing.