Explain the income in bitcoin ? - page 2.

daddypastes

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Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

more investing,more joining in legal signature campaign then it well be more income in bitcoin....must fucos to forum me join and let be participate all investing so we have earning to income in bitcoin..

Kingofbitcoin12345

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Quote from: Hamphser on December 19, 2017, 09:20:36 AM

Quote from: Kingofbitcoin12345 on December 19, 2017, 04:12:27 AM

Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

Everyone should understand that every country has different approach or laws regarding taxation and better ask this in the local board you belong for a higher chance of having the full information from your countrymen.. In a country with no regulation like mine,, there is no such thing as declaring or paying tax on cryptocurrency.. I mean we are lucky enough for now but until when is a big question..

Good suggestion which is the best way to do for now which you should post on local board because people residing on that country will surely give you worthy answers. Taxation matter would really be entirely different on each country. Some would be strict some aren't too serious regarding on this matter which means cases would really be entirely different. And your question about on when they would strict and put compliance regarding tax then sooner or later we would really reach that thing.

Exactly,, I’m not against regulation or taxation if only the government and our poor country deserve it,, if we can be sure that this won’t just go to waste and might go to the pockets of corrupt officials.. That this should be an equal or fair legislation to the bitcoin community and to the state.. I will surely support this move if those condition will stricly followed and execute.. Our countrymen also badly need help and through taxation we can help..

Hamphser

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Vave.com - Crypto Casino

Quote from: Kingofbitcoin12345 on December 19, 2017, 04:12:27 AM

Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

Everyone should understand that every country has different approach or laws regarding taxation and better ask this in the local board you belong for a higher chance of having the full information from your countrymen.. In a country with no regulation like mine,, there is no such thing as declaring or paying tax on cryptocurrency.. I mean we are lucky enough for now but until when is a big question..

Good suggestion which is the best way to do for now which you should post on local board because people residing on that country will surely give you worthy answers. Taxation matter would really be entirely different on each country. Some would be strict some aren't too serious regarding on this matter which means cases would really be entirely different. And your question about on when they would strict and put compliance regarding tax then sooner or later we would really reach that thing.

biskitop

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Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

It's easy to explain that. Explain if we invest in bitcoin, or trading in bitcoin. Surely everyone already knows and understand, those who are also trading in forex, would also explain the same thing. "Profit from trading".

Kingofbitcoin12345

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Activity: 462

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Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

Everyone should understand that every country has different approach or laws regarding taxation and better ask this in the local board you belong for a higher chance of having the full information from your countrymen.. In a country with no regulation like mine,, there is no such thing as declaring or paying tax on cryptocurrency.. I mean we are lucky enough for now but until when is a big question..

migolmigol

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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.

RealKhan

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If you are a US citizen/permanent resident, then your worldwide income is taxable. The IRS doesn't care where and how you make the money.If you are living in another country, there are a lot of nice tax exclusions/deductions. Also, if you are a professional bitcoin trader, there are also a lot of other next deductions.

Tschorsch

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https://discord.gg/QRh8R6E Get free Bitcoins in our pumping group

doonik

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Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

Well that might take some understanding from your financial expertises or bankers .
Investing is the only and most widely known "job" known by the majority of world regarding bitcoin . You have to make them aware by giving them some proofs of the forum if you want to get it declared . If bitcoin is legal in your country they might not get into depth of the source if the amount is considerate and less than 5 bitcoins .

rasl.curt

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Since anything digital can be copied over and over again, the hard part about implementing a digital payment system is making sure that nobody spends the same money more than once. Traditionally, this is done by having a trusted central authority (like PayPal) that verifies all of the transactions. The core innovation that makes Bitcoin special is that it uses consensus in a massive peer-to-peer network to verify transactions. This results in a system where payments are non-reversible, accounts cannot be frozen, and transaction fees are much lower.

ace4549

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The company of bitcoin provides a high yield of interest to their investors which will accumulates a huge amount of return on capital in just short period of time.
From this they the only country who offers this kind of opportunity that can be a reason why many people in this world love bitcoin.

TheKeyLongThumbI

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My country doesn't really treat bitcoin seriously right now. They just warned us to avoid investing on it and doesn't discuss on how many people are earning good or huge incomes with bitcoin so I'm not really obliged to do that.

TIDOVEE

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it is still easy to declare if not for the cases of tax from other peoples view but in a country like mine they may not really care about the tax because they only monitor tax on establishments they can see. i know very soon they may begin to take it serious. looking into your interesting question, i guess that the reason some government are negating bitcoin. but in short it is a job done. not an illegal business. it can be declared.

ace4549

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Bitcoin provide ways to earn income to ease the life of every people in the whole world. They provides a high yield of interest to generate a huge amount of return on investment in just short period of time

ApocalypseNow

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If my government will pass a bill that will make everyone that is earning bitcoin to declare all of it then I will. But right now, we are free to earn so I'll just make the most out of it before it happens.

sukamasoto

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Black Panther

Quote from: ricky68 on December 03, 2017, 06:54:08 AM

depend if your country regulates bitcoin then you have to declare how you acquire it and pay the necessary taxes to the government

My government still not make any regulation yet so when I earn bitcoin, I do not need to pay the tax.
But in 2018, my government start to make a legit regulation for forbid bitcoin usage , it's a shame but it's already become wise decision !

ralf2018

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As is known ,some cryptocurrencies have a element of residual income to them, therefore increasing your ‘income’, they pay you dividends in the form of cryptocurrency and you can sell or hold onto this newly produced asset.It can increase your wealth as the price of btc rises, however does not have a direct relation to your income.

orions.belt19

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Quote from: carlfebz2 on November 28, 2017, 03:31:49 PM

Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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 think its just the same since you did still able to get those coins or bitcoin earnings from a job which you can still declare and I cant see that there would be a problem on that. Want to know if your government is already requiring you to have such declarations? That's too strict though. For now in my state here in my country I don't have much problem regarding on that even though it is already involving huge money but yet taxation on bitcoin earnings isn't still being imposed.

It's the same in my country. Taxation on bitcoin earnings aren't imposed yet although bitcoin is considered legal. There has not been any legislation or specifications made regarding bitcoin income that has been declared by my country. Perhaps as of now, there are no declarations yet. I guess that a problem arises once you exchange you bitcoin to the local currency - there may be the need of taxes for that. Especially if it's a huge amount, you would probably have to declare it as an income.

shantoote

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Quote from: notthematrix on November 28, 2017, 02:33:43 PM

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?

it is easy they make deal using dollar reference so you will work for 1,000$/month and check the value of dollar /BTC every month .

to be honest this is one of big problem which make cash better for bounties, regular incomes for helping teams in moderation, etc.

ricky68

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depend if your country regulates bitcoin then you have to declare how you acquire it and pay the necessary taxes to the government

Topic: Explain the income in bitcoin ? - page 2. (Read 1660 times)