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?
Yes, the governments in the countries are very interested in who gets rich quickly where I live if a bank detects a person's account with the money rising swiftly. And they are going to investigate and ask how the money is earned and whether it violates the law of the government. 
Topic: Questionable wealth because of Crypto - page 9. (Read 1023 times)
Not only the government had a questionable issues regarding the people that become wealthy because of Cryptocurrency even the banks that are accepting exchange towards fiat had a multiple verification and question on where did they get that kind of amount of money and sometimes would want to know what type of business we crypto investors have, I really think this is for security and safety reasons and regarding sometimes illegal whereabouts of the money criminals are possessing.
If you just pay your taxes, you should have nothing to fear. Most people think the IRS is something that's out there bto get them and put them in jail, this is not true.
The only thing the IRS cares about is getting its money. Even if you can't pay straight away they'll help you set up a payment plan etc.
Why would the government put you in jail, just for becoming rich? It's more taxes for them... Stop reading conspiracy theories, I would say :p
The only thing the IRS cares about is getting its money. Even if you can't pay straight away they'll help you set up a payment plan etc.
Why would the government put you in jail, just for becoming rich? It's more taxes for them... Stop reading conspiracy theories, I would say :p
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?
They will think like that if you are not making tax filing properly and without any concrete proof of your earnings.
If you follow the proper taxation then it will include lot many things like : 1) Giving proofs of income sources. 2) Transaction slips if the transactions are big one. 3) Proof of investment into trades, gambling, lending programs and mutual funds etc All these can become your proof of income and if you submit it then im sure there is no government in the world who will ask you any further question about it.
Its better to keep your portfolio completely white and make proper way through paper trail.
Well, this is a very important role is knowledge and experience of course.
if one day there is a state party, which deals with taxation and asks you. you can prove with proof that you have done so far. this is very important, because in the bitcoin and crypto system has a clear transparency can be proved. so knowledge is important for everything.
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. 
You pay taxes for your Bitcoin earnings. That way you have a paper trail for your wealth and they can't accuse you of anything illegal. You should be paying your taxes correctly anyway.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
This explains everything quite simply. I mean there is no way we should be afraid of getting rich and if it is completely legal way then we have to worry about nothing.
Plus im not sure if government really puts you in the jail without any evidences or not but that would be illegal to do so without any evidence. Lol. That simply means your government is corrupt and it want brine from you and nothing else. Also if you are getting rich enough then im sure with the all money you have earned you can take care of your legal activities by paying various people like legal authorities, tax department etc.
you do not need to explain anything to them, you do not really need to show everything to the show)) and if you have to tell them how you became rich, tell the truth, they know it, they will soon say everything and pay taxes, but if they say that bitcoin is not legitimate, then I'd just gave them nothing))
I do not think that they are so paranoid and will all blame for the fact that this is illegal. Everything is fine and will pass as it costs the candles legally and independently of the higher observers.
You pay taxes for your Bitcoin earnings. That way you have a paper trail for your wealth and they can't accuse you of anything illegal. You should be paying your taxes correctly anyway.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
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?
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