I seen a guy on CNN before who owned an investment house in the stock market and he said he made 2+ billion almost over night and he did it with ease laughing hard on TV..
Housing derivatives.. They knew a bail out was coming so....
Anyone supporting what happened here last few months such as MARK CUBAN
..are scammy losers.
Topic: Some guy made 200 million from ETH - page 3. (Read 3632 times)
Yeah, a rich slave though. Not one that has to hand over every single penny and then some more for tax fraud.
That's why anonymous coins suck, you won't ever be able to use them for anything other than petty purchases without triggering large fines.
If you held 200 million, wouldn't you just gladly pay off the relatively low capital gains tax just to make the entire thing legit? You'd be settled for life.
Slave mentality If you held 200 million, wouldn't you just gladly pay off the relatively low capital gains tax just to make the entire thing legit? You'd be settled for life.
Its stupid if you go out there claiming that you have 200 million dollars in ETH, the whole point of cryptocurrencies is making everything from storage to transactions completely anonymous. Of course the taxmen will be on his tail all the time now since he gave his identity away and he'll be in lots of trouble in the days to come.
Hmmm can't come up with an entry point? Here let me help ya. I mined them back in 2015, or i bought a laptop at a flea market, or the contents of a storage locker that had a usb stick. Circumvent the problem 200 mill ?Become ex-pat denounce your citizenship move to singapore be happy.
If you're a high frequency trader then income tax rather than capital gains will apply.
Any coin with a blockchain explorer will be easy to show your entry point.
Yeah sure, but if you trade alts things get very complicated very quickly with proving what has been going on.
Any coin with a blockchain explorer will be easy to show your entry point. You don't even have to prove the actual transaction. Just note that wallet address(es) as yours and you're good.
In my country the tax agency uses January 1st as the price date. If I hold 20 bitcoin then I only have to say I own $998 x 20 =$19.960 worth of Bitcoin for 2017.
If Bitcoin suddenly becomes worth ten times as much on January 1st of 2018 then you note you still own those 20 bitcoins, now worth $9.980 =$190.960 and you pay the tax on it. My country's capital gains tax is absurdly low so I pay 1.3% ($248), but even if it were 15% or 20% I'd swallow and pay it, it means all the rest is gravy to do whatever you want with it.
In my country the tax agency uses January 1st as the price date. If I hold 20 bitcoin then I only have to say I own $998 x 20 =$19.960 worth of Bitcoin for 2017.
If Bitcoin suddenly becomes worth ten times as much on January 1st of 2018 then you note you still own those 20 bitcoins, now worth $9.980 =$190.960 and you pay the tax on it. My country's capital gains tax is absurdly low so I pay 1.3% ($248), but even if it were 15% or 20% I'd swallow and pay it, it means all the rest is gravy to do whatever you want with it.
You should be able to prove your entry points although I suppose with Eth it gets harder. I would recommend talking to an accountant ha Also, remember to keep good records because it's easier to keep up with record-keeping practices than it is to make up for a lack of records in your work. Cheers!
That's why anonymous coins suck, you won't ever be able to use them for anything other than petty purchases without triggering large fines.
If you held 200 million, wouldn't you just gladly pay off the relatively low capital gains tax just to make the entire thing legit? You'd be settled for life.
If you held 200 million, wouldn't you just gladly pay off the relatively low capital gains tax just to make the entire thing legit? You'd be settled for life.
Fake news from ETH fake news network.
http://www.zerohedge.com/news/2017-07-10/one-trader-made-200m-trading-ethereumand-nobody-knows-who-tax
The taxmen are getting nervous with people holding these massive amounts and not being able to tax it.
Well, he didn't sold afaik so it's obvious now he holds less after the crash but he has a fuckton.
Some guy makes a point:
As he can't prove his entry point, the anti terrorisme act goes in effect, confiscation and guantanamo
Tax evasion as he didn't declare his positions... He's fucked
If you can't prove your entry points and you cash out.. aren't you fucked? They would keep the money and claim it's not clear where you got it from.
The taxmen are getting nervous with people holding these massive amounts and not being able to tax it.
Well, he didn't sold afaik so it's obvious now he holds less after the crash but he has a fuckton.
Some guy makes a point:
Quote
As he can't prove his entry point, the anti terrorisme act goes in effect, confiscation and guantanamo
Tax evasion as he didn't declare his positions... He's fucked
If you can't prove your entry points and you cash out.. aren't you fucked? They would keep the money and claim it's not clear where you got it from.
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