this post was submitted on 07 Dec 2024
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297
Teen creates memecoin, dumps it, earns $50,000 (arstechnica.com)
submitted 2 weeks ago by shoulderoforion@fedia.io to c/technology@lemmy.world
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Unsurprisingly, he and his family were doxed by angry traders.

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[โ€“] boonhet@lemm.ee 3 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

I've been considering it tbh... And I know what my target audience would be even. I just don't know if I want to actually go through with it + if I do, I have to buy Monero with it or something so I could launder it, then somehow explain to the tax authority that I've suddenly got a bunch of crypto I'm selling... Though the last part might not be too bad, as long as I do TELL them that I'm selling it and want to pay taxes on it.

[โ€“] Furbag@lemmy.world 1 points 1 week ago

Yeah, the tax man doesn't care how you got it, just that they get their cut. Just don't be stupid and not declare that income... They will know.