Topic: Questionable wealth because of Crypto - page 6. (Read 1023 times)
Well other people questions and it becomes a big deal for them. But if other knew what was going on for sure they will amaze what bitcoin can do in peoples life. You cannot judge anyone because you are not oblidge to do so but you can gather information how it become like that. I do believe that many people become wealthy because of bitcoin and no question about it. If you know how to strive to have a better life you will be like them and go on.
Well that thing is very serious and we need to be take care our steps. Because of unlegalizing of bitcoin in our country this is one of the threat on a unlawful act.
We need to discuss to them and lieve that our money is from bitcoin.
We need to discuss to them and lieve that our money is from bitcoin.
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?
I'm not sure which country you live in that would convict somebody for having questionable wealth. There are hundreds of ways a person can become wealthy in non-traditional ways, that would be difficult to determine if looking through your tax records or receipt books, e.g. Gambling, sports wins, local competitions, freelance work etc.
If you get rich through crypto, just make sure you keep a detailed log of your transactions and profit and you will be fine. But I would seriously consider leaving that country if that's how things work (which they probably don't).
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 do not need to explain to the government how bitcoin owners can become rich because the government already knows about bitcoin. What needs to be explained is the people around us because of course they will ask where our wealth comes from.In other hand, it is better to stay in a low profile because it helps you so much in a way of securing and protecting yourself in other people. But in that scenario that one government do put one person in a jail because of becoming rich that's really unjustice. We as a person, we have the right to do whatever we want just to have a better life because we on ourself are responsible in what will be our life in the future no one has the right to judge or give us punishment without any basis or proof that we are doing wrong. We have the right to fight for our self.
Just like me i got bitcoin just from the bounty campaign so if you explain to the cop that you get bitcoin from bounty campaign lot bounty campaign that make you rich right now
So they will not asking about that anymore
So they will not asking about that anymore
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?
If the government in your country buys and receives bitcoin then the government's suspicions will not lead to illegal acts of activity. However, when the orders in the country assume that bitcoin is a way to engage in illegal activities such as money laundering, terrorist financing, etc. Then the government's suspicion of you over what you are saying will be a major accusation when you gain wealth through bitcoin. Hopefully, this will never happen to anyone and I expect you to be calm because your identity in transactions using bitcoin and blockchain technology cannot be tracked by any party. 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?
Tell the authorities that it was a result of patience, perseverance and your stern determination to HODL for a very long time despite of the many factors which questioned the sustainability of Bitcoin price over the years. There are already so many early adopters who have turned into millionaires and subject to questioning from the authorities of their respective countries but surely would've gotten the benefit of the doubt after having shown proof of early investments.
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?
maybe the government will not be able to know our wealth if there is no party reporting, when you are rich sometimes neighbors and friends or people who dislike your wealth and they finally report it, yes it is rather difficult to explain to the government about bitcoin, but now the possibility of local authorities already know about bitcoin.
right . Because I have some friends who are naturally rich in two months. And everyone suspects that my friends have smuggled so fast. And people do not know that my friend is investing in bitcoin.
Just declare your income so that you are taxable. That's how the government becomes hot to those people that are becoming instantly rich because they never declare their source of income. They are thinking that you are doing something illegal but if you will go with the normal process, declaring your profit, your nature of business / source of income then you are safe.
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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?
easy, let alone bitcoin is now widely known to the public. you just need to give a statement if you invest in bitcoin, explain also the benefits to them. they may even join to join after know from you about this bitcoin. 
currently it's very difficult to explain we can able to earn money from bitcoin because most of government considers bitcoin is scam and already scammed many people but in your country as long as earn bitcoin not against the law and not forbidden i think government will fine and you will not got in jail
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?
Don't worry there are ways to manage your funds in a proper way and make a statement of those funds which you are gaining and moving in & out. The government will surely believe in you if you show them a proper statement. In our country, India the government are planning to link all the financial income and outcome to the PAN number and then all it will be a link to the Unique Id of the Citizen AAdhar by which they can easily make a record of the white income made by the citizen.
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?
You wouldn't have to explain anything to them. It's not you, who must prove your innocence, but them, prosecutors, who have to furnish with proofs.
As expected if you live in a third world country and perhaps live around a poor suburb and suddenly amass wealth through cryptocurrencies the locals will be suspicious of your wealth with different views some will attribute your to wealth to ritual I.e blood money, some will say it's from internet scam of course it requires strenuous efforts in explaining your source of wealth else your dignity will be suspicious.
Over time, you will begin to understand the trends and varieties of the crypto currency, which will allow you to multiply your income several times.
If you became rich directly from your investments in BTC then that is an easy thing to prove, and you should not have any problems with any government. On your capital gain you should pay taxes as well. The same way you would if you became rich from real estate or playing the stock market.
Bitcoin is just like other modes of investments such as real estate, stock market but the difference lies in the digital nature of the bitcoin. Besides the potential of bitcoin to fluctuate in prices at any time and at any level. So if you have invested your hard earned money into bitcoin and are now enjoying the sweet fruits of your investments, I don’t think so there should be any problem in proving your assets to state.
I just recently heard a story about a friend and neighbors were curious about him getting rich instantly. He was already suspected to be a drug lord which I can attest that bitcoins are the main reason behind his instant wealth.
He helps his family to finish building their house, gives monthly to his family and even buys himself what he wants.
However, there is no taxes on bitcoins for now and I think many will still assume that what he does is illegal. There is nothing much we can do about it but to tell the truth or even provide evidences that bitcoins provide such opportunity to earn big time and its just a matter of hard work. If taxes are implemented then pay taxes for assurance of legal activities.
He helps his family to finish building their house, gives monthly to his family and even buys himself what he wants.
However, there is no taxes on bitcoins for now and I think many will still assume that what he does is illegal. There is nothing much we can do about it but to tell the truth or even provide evidences that bitcoins provide such opportunity to earn big time and its just a matter of hard work. If taxes are implemented then pay taxes for assurance of legal activities.
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?
i can't sleep very well now when i know this bitcoin but i accept that because i need money for my futureI think money is everything and we can earn here but there's no need to be an addict because of that
There's a lot of way where you spend your time like play basketball or run every morning that's good in health and very joyful
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