Topic: Problems facing crypto, taxes, anon, etc... (Read 164 times)
I think was is causing all these concerns is because there is no clear statement on crypto among different governments and this is not helping, there is no denying government regulations are coming but how soon will it be
What major problems are crypto and btc facing in the future? One I can think of is taxes. Will there be offshore tax havens set up for people to exchange their btc, eth and other crypto into fiat without paying taxes? It's not really decentralized if you have to pay the government a cut of it. What if you are given btc, is that still taxed?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
Crypto will become more spendable everyday this isnt the worry the worry is the taxation basically. And even then there should be no worry because nobody should be trying to avoid this. If you made a boat load from crypto I dont see why you cant contribute to tax. It is less than personal income tax anyhow which would be 30-40% and tax for investments is much less at around roughly 10-20%
Right now i think governments are not doing enough to inform anyone, it’s just a honeypot waiting to erupt. Some countries have BTC terminals but don’t even have a descent regulation system. That is just terrible. As for the internet outage or power outage that is just tinfoil talking. If there is a power outage crypto is the least of your worries, if there is an internet outage same thing. If you worry about quantum computers then again crypto is the least of your worries.
If 1K sits in your bank account and becomes 1000,1K in a year its is still more profitable when you put it into crypto and pay a percentage of your gains.
If 1K sits in your bank account and becomes 1000,1K in a year its is still more profitable when you put it into crypto and pay a percentage of your gains.
I hope this will not happen soon.
We met crypto very new and I'd want my gov to fck me with taxes.
We met crypto very new and I'd want my gov to fck me with taxes.
The understanding of the people and the government about Crypto will be a big hindrance in the near future. Too many scammers make people think the crypto is a bad thing...
What major problems are crypto and btc facing in the future? One I can think of is taxes. Will there be offshore tax havens set up for people to exchange their btc, eth and other crypto into fiat without paying taxes? It's not really decentralized if you have to pay the government a cut of it. What if you are given btc, is that still taxed?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
The idea is to never go out of Bitcoin. Obtain bitcoins by offering services and products, and buy services and products in exachange of bitcoins. If you have noticed, the circle is closed now and there is no need for fiat.
If you need to go fiat, don't expect to not get into trouble. If you want fiat pay your taxes and sleep well, there's no way to bypass this. Look at Paradise Paper et al, it will always leak so it's stupid, just pay the damn taxes and deal with it, or don't ever sell.
What major problems are crypto and btc facing in the future? One I can think of is taxes. Will there be offshore tax havens set up for people to exchange their btc, eth and other crypto into fiat without paying taxes? It's not really decentralized if you have to pay the government a cut of it. What if you are given btc, is that still taxed?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
How to spend your crypto? Will you wait until retailers accept your crypto of choice? There are options like tenx card, but what are the tax implications of using that? Even if retailers accept crypto, say monero to buy groceries or pay your rent, will you not still have to pay taxes on that?
Another problem could be power outages, internet disruption. What if there is a power outage for a year or two? What if the internet is disrupted globally?
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