Questionable wealth because of Crypto - page 4.

boy130

sr. member

Activity: 616

Merit: 263

Quote from: Sadlife on April 13, 2018, 08:10:45 PM

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

Which country are you from that doesn't tax crypto income? Is your income even tax-free once converted into fiat? If so, sounds like the quite the tax haven for crypto users.

As for @OP, I think so long as you keep reasonable records then nobody will question your wealth, nobody expected bitcoin to explode like it did, so I doubt they will be as thorough as they would with other income records, even if you just log your purchases, and then identify the value at that time on coinmarketcap, that will likely suffice.

zedrickjuls

jr. member

Activity: 196

Merit: 1

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

Bitcoin Is not illegal,and if you became rich in bitcoin,you dont need to explain to them where your wealth came from as long as your wealth are not comes from any illegal activities.

entrepmind23

sr. member

Activity: 644

Merit: 261

If you can obtain a copy of your trading or how you were able to get your cryptocurrencies then keep copies of it. You can use it when the government decides to question you about it. If what you earn in crypto is taxable then pay your taxes so that they cannot held you accountable because you did what you are supposed to do. You may have problems with your banks though because when you transfer a big amount and it is an amount that is quite questionable then the AML would be alerted so if possible, try to transfer only a low amount so that they will not be alerted. It is too bothersome to explain even if you obtained the coins in a legal way because they would find a way to suspend your account since most of them (the banks) are against it.

doraegun

jr. member

Activity: 251

Merit: 2

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

It's very simple sir, if they captured you without any reason of course that's an illegal right? try to question them what's the reason you are capturing me without any reason, and when we say it's about your wealth why you are in a good living standard now while the history of your life is only wage earner, then you can make a positive explanation like make a Revelation about the new digital crypto currency which is not illegal that;s why you have a good living standard because of Crypro Currency. Then you try to tell then to background check of your history to make sure that you are not involve of illegal activities.

paras20

newbie

Activity: 126

Merit: 0

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

Their are questionable wealth because of cryptocurriencies because your going to be rich instantly but they don't know that you are gaining the money because of your knowledge and efforts every day

Siren

sr. member

Activity: 826

Merit: 265

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

from what region you from OP?and how cruel your government pointing fingers to theyre people if they seen some wealthier happening to the lives of fellow men..i tend to disagree on this matter since crypto profiteering defies no illegal actions..dont you have human rights there?so officials can do anything they want?what about lending business it requires no tax if you lend person to person and what if in that kind of earning youve got the wealth,they will still send you to jail?thats not fair,maybe you should hide all you income from bitcoin and just spend the money little by little that thy dont have something to point on

max fray

member

Activity: 294

Merit: 10

JOIN THE NEXT MEGATREND IN CRYPTO!

In my particular country the authorities did nothing for me to succeed.
So the question aries: why should I pay to them when I gained some extra profit from, e.g. bying and selling those bitcoins? Was it their real achievement? Did they really help me with being better off?
In this case I would rather not paying any taxes and related fees..

Sadlife

sr. member

Activity: 1400

Merit: 269

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

triberensmok

newbie

Activity: 1

Merit: 0

This bounty is for everyone from Marinecoin. 20,000 MTC for successful completion of promotion activities directed by artificial intelligence. A fair distribution because it is dev-less and uses time dilution technology for fair distribution of 9 billion coins. This will help build a strong support community. Machine to machine iot is what the chain was designed for. Extremely fast transaction speeds and zero fees position MTC to lead the iot industry so the coins have value already. Find out more here marineco.in/ico

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

the problem is that questionable wealth from cryptoeconomics will lead to more and more people leaving their work and moving into cryptoindustry

buypermajun

newbie

Activity: 5

Merit: 0

Here’s one you can get 20,000 MTC each completed AI task. Marinecoin is conducting their ico/airdrop/bounty currently. They have 9 billion to distribute in 20K chunks so plenty to go around. I have been collecting them in my MTC wallet for many days so can say for sure it works. The system uses artificial intelligence to manage the campaign so the rewards are automatic after completing the task. Try it for yourself here community - mtc - value - time dilution technology - community - time dilution technology - All the best things to make a long term success. Time tested value. marineco.in

CryptoMoar

full member

Activity: 450

Merit: 107

🚀🚀 ATHERO.IO 🚀🚀

In my opinion. we better focus on the work we do today. do not get busy with people who do not believe in digital currencies. and let's show the government if we can be rich and successful by utilizing blockchain technology especially to get digital currency. so the government will regret if it can not utilize blockchain technology.

$$$sparkles$$$

member

Activity: 350

Merit: 10

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

This is not a big deal really. I believe that every wallet has a transaction history whether cashing in or out. If you become rich with crypto and the authorities suddenly shows up at your door, just show them your transaction history. That would do the explaining for you.

volleyballslenderF

newbie

Activity: 63

Merit: 0

I will try to brief the working and platform and blockchain system to the Govt

BlinkLifeHippo

jr. member

Activity: 97

Merit: 1

even if we are right then also we cant make them believe because they would deny at every cost to protect their earnings

vancon

brand new

Activity: 0

Merit: 0

Hello everyone! ICO really stands for Initial Coin Offering. Have you ever heard of Marinecoin? It has been developed since 2013 and remains one of the most promising projects.it’s self sustaining and artificial intelligence join the community the transaction take zero fees.That seems to be the real challenge. Few coins if any other coin can boast of this model. Most ICOs involve the majority of the coins staying with the large investors and the smaller investor are busy chasing low rewarding bounties that may or may not materialize equaling a smaller percentage of the coins, in effect free advertising, pennies on the dollar. The block chain supports fast transactions and is dev-less, supported by artificial intelligence. This is an interesting project that will grow strongly and you can double your money, maybe x10. I really like the trading speed of seacoin. Their goal is to create a blockchain that is five times faster than Bitcoin. altcoin.Website is: marineco.inMore details here: bitcointalk.org/index.php?topic=2971179.0.
Join the discord group to talk about this project. : discordapp.com/invite/zpQyDu6 or telegram: t.me/MarinecoinMTC

cool kong

member

Activity: 81

Merit: 10

You just need to explain your money to the government, and encryption has been recognized by many countries.

coinstalker23

full member

Activity: 310

Merit: 114

If you get rich because of crypto some authorities will try to meddle and ask questions about the unexplainable amount of money you have because there's a possibility that your money comes from illegal means. So you should have enough evidence and explanation that you can defend against their allegations.

cuoicung12

brand new

Activity: 0

Merit: 0

Marinecoin could be a game changer crypto currency. There are many coins that make this claim for an ICO. Marinecoin is different. It is about wealth redistribution / fair distribution of the coin. A small number of people own large amounts bitcoin. Bitcoin started the ball rolling in that direction but its distribution it still skewed to the early adapter. Marinecoin is making a larger distribution network by proof of promotion. Hence a larger network of people can share in its gains as the crypto currency matures. None of these icos can say they have this type of backing before they launch and thats what Marinecoin plans to do. Once a large number of people have their coins in hand it would be up to the community to promote and trade the coin. adding to its stability and resistance to pump and dumpers. It is time tested and will be maintained by artificial intelligence. It is self sustaining block chain technology, supported by a community through fair distribution of he coins.marineco.in/ico and marineco.in chat Join the discord group to talk about this project. : discordapp.com/invite/zpQyDu6 or telegram: t.me/MarinecoinMTC

Rustamm

member

Activity: 532

Merit: 18

Bitcoin lover!

Quote from: sicnarfkswiss on March 16, 2018, 04:28:13 AM

Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?

We only need to know the legislation of our country with respect to the crypto currency. If earlier there were no corresponding laws or other normative acts with respect to taxation of the crypto currency, there is nothing to be afraid of. It is necessary to explain directly the ways of origin of your money. It's easy to check. In addition, you should not prove the legitimacy of your behavior, and you must prove the illegality of sources of wealth.

Topic: Questionable wealth because of Crypto - page 4. (Read 1023 times)