My bank account's got robbed by European Commission. Over 700k is lost. - page 12.

techgeek

hero member

Activity: 826

Merit: 1000

Quote from: bojan92 on August 02, 2015, 05:55:15 PM

How in the earth can someone take over 70 % of your money in order to pay the dept. I think that you have to be willing to help. I have no words. Sorry for your lose. Hope they will refund you.

Its called people with power who has or own that system of control.

So regardless if you use that service, you basically are in risk of their procedures. The person obviously didnt know the extent of the banks financial situation which no one does and its just a victim.

It really does make you wonder, if that money was better off in cash in a vault.

Barnabe

hero member

Activity: 616

Merit: 503

★Bitvest.io★ Play Plinko or Invest!

Quote from: molecular on August 24, 2015, 09:42:36 AM

Quote from: acquafredda on August 24, 2015, 04:20:17 AM

Quote from: molecular on August 23, 2015, 02:41:49 PM

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

taxes are usually not on transactions. I'm not sure what you mean by "BTC to BTC transactions will be tax free".

taxes are usually on things like income or gains and then there's a tax in many jurisdictions on creating value (VAT)

I think bitcoin should be dealt with from a tax perspective like it was a foreign currency, but most jurisdictions have a different interpretation. Most apply capital gains tax because they categorize bitcoin as a commodity or some kind of private token. Some go as far (germany) as saying that VAT applies when bitcoins are sold, which I think is ludicrous.

Sure, no govt or nation has 'rights' on BTC, but that doesn't mean they can't tax circumstances involving bitcoin. They don't have right on copper either, yet all kinds of taxes apply when you deal in copper or do business involving copper.

When I say BTC to BTC transaction I mean when you and I do a BTC transaction.
Let's say I have 1 kg of tomatoes and you want to pay me 0.1 BTC.
In that case I don't want to pay any taxes on it.

I agree when you say that it should be considered like a foreign currency but BTC is much more than that.

I don't know there is too much confusion about the matter. I'm not a money launderer but I think at the moment there is no good solution about this.

Barter transactions are taxed (it's a "reciprocal sale") where I live (germany). Even if we swap a potato for a cucumber, we have to value the 2 things in EUR and if one of us is a company, VAT is due. If one of the goods is an asset, depending on the acquisition price and date of the potato/cucumber, gains tax might be due also. Various other taxes might also apply.

I didn't know this kind of taxes existed. In France there was a similar system, a person would work some some kind of points in a website. And these points were traded between members, a hair dresser could cut the hair to some one for points which could be later be used to pay a plumber for instance. By doing this they could avoid taxes, the government was not very fond of this idea and was trying to tax it anyway.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: acquafredda on August 24, 2015, 04:20:17 AM

Quote from: molecular on August 23, 2015, 02:41:49 PM

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

taxes are usually not on transactions. I'm not sure what you mean by "BTC to BTC transactions will be tax free".

taxes are usually on things like income or gains and then there's a tax in many jurisdictions on creating value (VAT)

I think bitcoin should be dealt with from a tax perspective like it was a foreign currency, but most jurisdictions have a different interpretation. Most apply capital gains tax because they categorize bitcoin as a commodity or some kind of private token. Some go as far (germany) as saying that VAT applies when bitcoins are sold, which I think is ludicrous.

Sure, no govt or nation has 'rights' on BTC, but that doesn't mean they can't tax circumstances involving bitcoin. They don't have right on copper either, yet all kinds of taxes apply when you deal in copper or do business involving copper.

When I say BTC to BTC transaction I mean when you and I do a BTC transaction.
Let's say I have 1 kg of tomatoes and you want to pay me 0.1 BTC.
In that case I don't want to pay any taxes on it.

I agree when you say that it should be considered like a foreign currency but BTC is much more than that.

I don't know there is too much confusion about the matter. I'm not a money launderer but I think at the moment there is no good solution about this.

Barter transactions are taxed (it's a "reciprocal sale") where I live (germany). Even if we swap a potato for a cucumber, we have to value the 2 things in EUR and if one of us is a company, VAT is due. If one of the goods is an asset, depending on the acquisition price and date of the potato/cucumber, gains tax might be due also. Various other taxes might also apply.

acquafredda

legendary

Activity: 1316

Merit: 1481

Quote from: molecular on August 23, 2015, 02:41:49 PM

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

taxes are usually not on transactions. I'm not sure what you mean by "BTC to BTC transactions will be tax free".

taxes are usually on things like income or gains and then there's a tax in many jurisdictions on creating value (VAT)

I think bitcoin should be dealt with from a tax perspective like it was a foreign currency, but most jurisdictions have a different interpretation. Most apply capital gains tax because they categorize bitcoin as a commodity or some kind of private token. Some go as far (germany) as saying that VAT applies when bitcoins are sold, which I think is ludicrous.

Sure, no govt or nation has 'rights' on BTC, but that doesn't mean they can't tax circumstances involving bitcoin. They don't have right on copper either, yet all kinds of taxes apply when you deal in copper or do business involving copper.

When I say BTC to BTC transaction I mean when you and I do a BTC transaction.
Let's say I have 1 kg of tomatoes and you want to pay me 0.1 BTC.
In that case I don't want to pay any taxes on it.

I agree when you say that it should be considered like a foreign currency but BTC is much more than that.

I don't know there is too much confusion about the matter. I'm not a money launderer but I think at the moment there is no good solution about this.

HarHarHar9965

hero member

Activity: 994

Merit: 1000

Quote from: molecular on August 23, 2015, 02:41:49 PM

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

taxes are usually not on transactions. I'm not sure what you mean by "BTC to BTC transactions will be tax free".

taxes are usually on things like income or gains and then there's a tax in many jurisdictions on creating value (VAT)

I think the meant transaction fees, referring it as BTC to BTC transactions. Taxes are everywhere, from the things we purchase to the internet we use, we are taxed for everything involving transactions, and they call it the charge of living in a civilized society. That's stupid, because I could hardly spot civilization in this crazy world. And about bitcoin and taxes, yes, its considered an asset and charged as capital.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

taxes are usually not on transactions. I'm not sure what you mean by "BTC to BTC transactions will be tax free".

taxes are usually on things like income or gains and then there's a tax in many jurisdictions on creating value (VAT)

I think bitcoin should be dealt with from a tax perspective like it was a foreign currency, but most jurisdictions have a different interpretation. Most apply capital gains tax because they categorize bitcoin as a commodity or some kind of private token. Some go as far (germany) as saying that VAT applies when bitcoins are sold, which I think is ludicrous.

Sure, no govt or nation has 'rights' on BTC, but that doesn't mean they can't tax circumstances involving bitcoin. They don't have right on copper either, yet all kinds of taxes apply when you deal in copper or do business involving copper.

HarHarHar9965

hero member

Activity: 994

Merit: 1000

Quote from: acquafredda on August 22, 2015, 01:26:52 PM

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

lot of places bitcoin is taxed as capital and all the profit made on bitcoins is considered as capital appreciation and taxed accordingly, which is not such a happy advantage for every day bitcoin users, rather damages the profit made with the investment. Do not avoid paying taxes, rather stay safe than launder the money.

acquafredda

legendary

Activity: 1316

Merit: 1481

Bitcoin is something completely different and therefore in my very humble opinion should not be taxed.

I would hope that any BTC to BTC transaction will be tax free while if one wants to cash out in fiat then one should pay taxes on it.

Any State or Nation or Federation or whatever have no rights on BTC!

molecular

donator

Activity: 2772

Merit: 1019

Quote from: hdbuck on August 21, 2015, 04:40:13 PM

Quote from: molecular on August 21, 2015, 04:27:53 PM

Quote from: RussianMiner on August 09, 2015, 10:37:40 AM

Quote from: Nancarrow on March 28, 2013, 01:35:35 PM

Nitpick: tax avoidance, not evasion. Evasion is illegal, avoidance is just (arguably) unethical.

Bitcoin is a pure tax avoidance\evasion!

Very few people in EU pay Bitcoin taxes

I do.

you're doing it wrong then.

Correct. I made some mistakes.

Beefcake

full member

Activity: 279

Merit: 132

Beefcake!!!

Quote from: marcus_of_augustus on August 01, 2015, 09:53:00 PM

Quote from: SolarSilver on July 31, 2015, 04:12:02 PM

Quote from: bitnanigans on July 31, 2015, 03:12:18 PM

Wow, this is crazy. Will this sort of thing also happen in Greece?
And it's scary that this is expected to be the same sort of restructuring that will affect EU banks. Is it safe to keep more than 100K EUR in any European banks at this point?

The EUR 100k limit is a temporary raise from EUR 20k and some countries have started lowering the limit back to EUR 20k

I think it is safe to assume that most of the money in most EU bank accounts does not really exist. AFAIK the last BIS Basel III 'accords' was for less than 8% Tier 1 capital backing. I.e. if more than 8% of the money in EU banks was to be withdrawn by the banks' customers they would be insolvent.

It is called fractional reserve banking, aka making up money out of thin air. It is how those banks can lend out at low % interest rates and still have multi million dollar buildings on every street corner in major cities.

i just saw the OP, and it is really depressing. I can only imagine how hard it is to start your own business, and to lose that hard work because of someone else's greed. It is just not fair. I really hope this does not happen in Greece as well.

hdbuck

legendary

Activity: 1260

Merit: 1002

Quote from: molecular on August 21, 2015, 04:27:53 PM

Quote from: RussianMiner on August 09, 2015, 10:37:40 AM

Quote from: Nancarrow on March 28, 2013, 01:35:35 PM

Nitpick: tax avoidance, not evasion. Evasion is illegal, avoidance is just (arguably) unethical.

Bitcoin is a pure tax avoidance\evasion!

Very few people in EU pay Bitcoin taxes

I do.

you're doing it wrong then.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: RussianMiner on August 09, 2015, 10:37:40 AM

Quote from: Nancarrow on March 28, 2013, 01:35:35 PM

Nitpick: tax avoidance, not evasion. Evasion is illegal, avoidance is just (arguably) unethical.

Bitcoin is a pure tax avoidance\evasion!

Very few people in EU pay Bitcoin taxes

I do.

MoorChael

newbie

Activity: 56

Merit: 0

Quote from: kangasbros on March 28, 2013, 01:18:54 PM

Quote from: zeroday on March 28, 2013, 01:00:15 PM

We are moving to small Caribbean country where authorities have more respect to people's assets.

So you trusted a small tax haven island with your money. The plan failed. Your next step: trusting even smaller tax haven island with your money. Pure logic Grin

An interesting observation Roll Eyes

STT

legendary

Activity: 4102

Merit: 1454

Quote

After all, it was not they who started the loaning spree, it was their weak government.

Wasnt that government discredited in its actions and what they did broke the rules of entering the euro as they never qualified. It seems Greece really should have defaulted and taken that path, its not nice but the process of default is hundreds of years old. Every debt has risk and sometimes there is loss, breaking these rules trying to rewrite it is what is destroying Greece.

Im listening to an hour long speech by Paul Mason alleging that capitalism has failed but all these events happening now are not capitalism. Money is centralised & controlled, its very worth is not in the hands of the Greek people. Capital centred around the people and owners of business within a country is capitalism, Greece is struggling to cope with their monetary worth determined by a foreign power. I dont support racism or even nationalism but the very terms used in any discussion are incorrect and I never see anyone object.

Recognise failure, accept losses and avoid both in future, its a basic premise lasting many centuries. Bailout is meaningless, its not capitalism and probably not even democratic

http://blogs.channel4.com/paul-mason-blog/mind-game-theory-economics-greeces-future-depends-emotion/3223
https://www.youtube.com/watch?v=4HMs0kkUvq8

Dapper

sr. member

Activity: 560

Merit: 260

not helpful for those doing IT in developing countries (because it's often necessary).... but for personal funds, one always needs to factor in country risk. I'm earning great interest in a few Mongolian bank accounts, but no way would I put most of my funds there. The bulk of my funds are in Singapore and Monaco... and I would quickly move them somewhere else if there were signals that things were going t*ts up.

Barnabe

hero member

Activity: 616

Merit: 503

★Bitvest.io★ Play Plinko or Invest!

Quote from: bojan92 on August 02, 2015, 05:55:15 PM

How in the earth can someone take over 70 % of your money in order to pay the dept. I think that you have to be willing to help. I have no words. Sorry for your lose. Hope they will refund you.

Lol refund, they already forgot about it.
If there was/will be an election the next government will say that is was not their decision and no one in there will ever talk again about this.
They probably are planning the next theft.

mattiadeabtc

sr. member

Activity: 294

Merit: 250

★YoBit.Net★ 200+ Coins Exchange & Dice

It s better to Save you money understand your bed like years ago, fuck The Bank

jkminkov

hero member

Activity: 698

Merit: 500

Quote from: bitnanigans on July 31, 2015, 03:12:18 PM

Wow, this is crazy. Will this sort of thing also happen in Greece?
And it's scary that this is expected to be the same sort of restructuring that will affect EU banks. Is it safe to keep more than 100K EUR in any European banks at this point?

limit is 100K per bank, if you have more - split them and watch those not to merge as you could end with 50% less, I had my money locked for nearly 6 months last year as mafia backed government raided 4th biggest bank claiming it was a ponzi scheme, now they buy its' assets for nickels and indebted country with nearly 2 000 million euros

RussianMiner

full member

Activity: 156

Merit: 100

Quote from: Nancarrow on March 28, 2013, 01:35:35 PM

Nitpick: tax avoidance, not evasion. Evasion is illegal, avoidance is just (arguably) unethical.

Bitcoin is a pure tax avoidance\evasion!

Very few people in EU pay Bitcoin taxes

vapourminer

legendary

Activity: 4354

Merit: 3614

what is this "brake pedal" you speak of?

Quote from: johnyj on August 03, 2015, 08:44:57 AM

Quote from: vapourminer on August 01, 2015, 10:52:02 PM

in the USA there is a 250K USD cap

so depending on what you have where you might 50%, more or less.. the math is left as an exercise for the student.

someone please correct me if Im wrong.

https://www.fdic.gov/edie/fdic_info_calculator.html?height=400

The insurance is more of psychological support than real support, I remember that some statistics showing that the insurance only covers 1% of all the deposit in banks. Rich guys usually do not put money in banks because those big money are not covered by the insurance

yeah CDs are part of that limit (I did not know that at the time. we were stupid and my wife listened to my financial adviser at our bank.. and its a local bank here in town I, I support local stuff.

wont make that support twice and neither will my wife. guess where part of those CDs will go in along with some actual gold bars and solid silver coins. they are due in November 2015.

Topic: My bank account's got robbed by European Commission. Over 700k is lost. - page 12. (Read 408499 times)