Topic: Explain the income in bitcoin ? (Read 1590 times)
By analyzing it, i see that it carries the same law. Earnings from investments and salary on services are all classified as income. One is passive and one is active. Same income tax law will apply if a person declares it depends on the percentage their country has. Its both an asset anyway.
This is a legal issue no one has been able to answer me about
If you win bitcoin with investment, it's easy to declare
What about bitcoins you earn from jobs ( bounties, regular incomes for helping teams in moderation, etc.) ? It is a job and an income but in bitcoin, so how is it considered and declared?
I get bitcoin earnings from a signature campaign, paying a bit of bitcoin each week, because I happen to be a trusted site member so that this earnings can stay. As well as some I get from buying and selling bitcoin in some exchanges that I happen to make a wallet to store my bitcoin... If you win bitcoin with investment, it's easy to declare
What about bitcoins you earn from jobs ( bounties, regular incomes for helping teams in moderation, etc.) ? It is a job and an income but in bitcoin, so how is it considered and declared?
Tax regulation on crypto-currency is not clear in my country. But I will pay the taxes as per tax slap declared by Revenue department on the money that I cash out in Fiat.
Yes, that is the right way we have to follow our countries rules and regulation until they declare about the new slab of tax. Like South Korea, i hope every country will start accepting bitcoin as a payment method but they will collect huge taxes o it.
When the government of a concrete country will tax crypto currencies' income I think that this fact is going to be announced in advance on many channels. My strategy is to wait and make bitcoin without any taxation till the law of taxation will not be accepted, and after I will think of my next move.
This is a legal issue no one has been able to answer me about
If you win bitcoin with investment, it's easy to declare
What about bitcoins you earn from jobs ( bounties, regular incomes for helping teams in moderation, etc.) ? It is a job and an income but in bitcoin, so how is it considered and declared?
If you win bitcoin with investment, it's easy to declare
What about bitcoins you earn from jobs ( bounties, regular incomes for helping teams in moderation, etc.) ? It is a job and an income but in bitcoin, so how is it considered and declared?
Naturally, it will depend on jurisdiction, but it is certainly possible to receive your payment in material things. In that case, your payment should be declared as the monetary value of the goods received. So if you receive your payment in Bitcoin, it should be the market value of the amount received on the day that you got paid with bitcoins. But it makes sense only if Bitcoin is not illegal in your country, of course. Otherwise, you can't be paid in Bitcoin.
Many people earn income in bitcoin through investing their money, holding it and wait the perfect time to sell it. Through this they can obtain instant money for less effort.
my opinion about this bitcoin is an advancement for technology in today's world, and it is from this bitcoin that will enliven all the bitcoiners around the world in self-employment.
You didn't even read out on whats the thing being said on op.Its not about the transition of bitcoin into employment thing but talking about the income itself on how to declare those stuffs.Tax regulation on crypto-currency is not clear in my country. But I will pay the taxes as per tax slap declared by Revenue department on the money that I cash out in Fiat.
When we do earn some amounts on bitcoin then us people do have the decision if we do sensible enough to pay up taxes voluntarily without the need of regulations which government should supposed to do. Tax is an obligation and even if we do earn on bitcoin we do still end up on exchanging them into fiat. 
Tax regulation on crypto-currency is not clear in my country. But I will pay the taxes as per tax slap declared by Revenue department on the money that I cash out in Fiat.
my opinion about this bitcoin is an advancement for technology in today's world, and it is from this bitcoin that will enliven all the bitcoiners around the world in self-employment.
I think it depends on each individual, because every country has different laws about regulation in bitcoin,
so it will be difficult to equate perception
so it will be difficult to equate perception
My government is not agree with bitcoin so they absolutely disagree to make bitcoin as salary or income.
Their decision is wise enough because they want protect people from bad attempt that can be cause by bitcoin
For me the most profitable would be mining, that is if you got the right tech in your place. It is what i am earning for right now, as the price is now increasing. It might be late but at least it is a start. Participating in services bounties and tokens for me, is just a minor earning but at least it is a good start for people who really doesnt have enough money fot mining.
For bow I dont know what is mining really all about and I think I will stay still in signature campaigns which was the plan inside my mind, I sfay here feels so home and private that will make more peaceful.
I think it depends on each individual, because every country has different laws about regulation in bitcoin,
so it will be difficult to equate perception
so it will be difficult to equate perception
based on my personal experience here in the company of bitcoins, you can gain or collect more incomes through trading .. Buying and selling gives you a high revenue.
Other people tend to invest their earnings in some company which they provide a high yeild of interest for a high return on investment and other people hold their bitcoins to have a high intrinsic value.
High Yield Interest of just simple HYIP isn't consider as a stable income or part of source on where you do gain bitcoin because most of them are all scams and also I would like to say that bitcoin isn't a company after all which you would be paid by it but rather you would really need still to do hardwork for you to earn. Income or taxation would really depend on your countries laws if they already implement such inclusion of cryptocurrency income. Other people tend to invest their earnings in some company which they provide a high yeild of interest for a high return on investment and other people hold their bitcoins to have a high intrinsic value.
based on my personal experience here in the company of bitcoins, you can gain or collect more incomes through trading .. Buying and selling gives you a high revenue.
Other people tend to invest their earnings in some company which they provide a high yeild of interest for a high return on investment and other people hold their bitcoins to have a high intrinsic value.
Other people tend to invest their earnings in some company which they provide a high yeild of interest for a high return on investment and other people hold their bitcoins to have a high intrinsic value.
Income in Bitcoin may come in different sources. I will give you the 3 main source I know to earn Bitcoins and be considered as an income when converted into fiat currency.
1) Signature Campaign- This is actually what I am doing now. Signature campaign is like a concept of advertising. You are going to wear an advertisement which is the signature and sometimes also with an avatar. The payments differ per ranks. The higher your rank the higher the pay will be. And payments are commonly made once a week. It may be per post or a standard payment weekly.
2) Mining- In this kind of activity you need to invest on a hardware and electricity. The concept is you are gathering transactions and the income is the transaction fee. I am not very familiar with the technicality but this I think earns a lot of you have a good miner.
3) Trading/Investing- Trading means you are a short time investor who buys and sells from time to time. While investing is when you hold it for a long term investment.
1) Signature Campaign- This is actually what I am doing now. Signature campaign is like a concept of advertising. You are going to wear an advertisement which is the signature and sometimes also with an avatar. The payments differ per ranks. The higher your rank the higher the pay will be. And payments are commonly made once a week. It may be per post or a standard payment weekly.
2) Mining- In this kind of activity you need to invest on a hardware and electricity. The concept is you are gathering transactions and the income is the transaction fee. I am not very familiar with the technicality but this I think earns a lot of you have a good miner.
3) Trading/Investing- Trading means you are a short time investor who buys and sells from time to time. While investing is when you hold it for a long term investment.
thanks a lot,
. i have heard about mining and tradingI've researched something about signature campaign here in the forum and i found out i wasn't involved in signature campaign yet for there are minimum rank requirements before i can join.
I've been asking this too,
Also, does one bitcoin take too long to collect? Since it costs much
Also, does one bitcoin take too long to collect? Since it costs much
The bitcoin which is called as income in any kinds of jobs you have ; is the so called wage or salary or whatever it is as long as it is a payment to what have you done in working. We have different kinds of jobs in the services section, you earn bitcoin if it is paying bitcoin, some are paying in dollars or tokens or bounties. EVERY Job you applied that is legal then the payment you will be able to received is Considered LEGAL.
The profit that we received from our jobs on bitcoins is considered as our income, and it depends on the country that we belong if the governments will impose a taxation on it. But it is better that the government would not impose tax on it because there are many officials who are corrupt. This is one of the reason I enter into bitcoin is to avoid tax from the government.
That was really helpful. Extremely short and clear answers.
Small amounts are easy to win, but yesterday all Bitcoin investors had a hard time and investors had a fear of losing half of their investments. So getting more and more harder day by day is getting more and more.
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