Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16584.

criptix

legendary

Activity: 2464

Merit: 1145

Quote from: xydandys on August 18, 2017, 04:03:40 PM

Quote from: European Central Bank on August 18, 2017, 03:51:47 PM

he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.

Are you sure this apply to cryptocurrencies? Here in Czech we have very similar law - no capital gain taxing after 1 year hold. The problem is, cryptocurency gains can't be declared as capital gains - it falls into category "other gains" in czech law.

Yes. In germany cryptocurrencies like bitcoin count as foreign currency.
So taxfree after 1 year.

Torque

legendary

Activity: 3780

Merit: 5429

Quote from: Colonel Panic on August 18, 2017, 04:06:52 PM

Quote from: BlindMayorBitcorn on August 18, 2017, 02:24:19 PM

I for one have started to migrate my coins out of their old private keys slumber. I'm tired of being forced to own fork coins.

+1

At 20% it'd be rude not to.

At 25% it'd be even ruder. Do I hear 30%?

Quote from: jbreher on August 18, 2017, 04:07:51 PM

Incidentally, you seems to be misusing 'BCash'. BCash is a different coin based upon zk-snarks.

Oh I'm sorry, you're right. I meant to say ButtCash.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Torque on August 18, 2017, 03:39:53 PM

Bitcoin Core? I guess that's yet another new fork like BCash? Because we don't what that refers to here.

Yes, Bitcoin Core. After Bitcoin Cash becomes the largest proof of work chain, we'll need some term to use to refer to the obsolete core chain. Hence, Bitcoin Core.

Incidentally, you seems to be misusing 'BCash'. BCash is a different coin based upon zk-snarks.

Colonel Panic

member

Activity: 110

Merit: 26

I do not have a Telegram or Skype account.

Quote from: BlindMayorBitcorn on August 18, 2017, 02:24:19 PM

I for one have started to migrate my coins out of their old private keys slumber. I'm tired of being forced to own fork coins.

+1

At 20% it'd be rude not to.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: xydandys on August 18, 2017, 04:03:40 PM

Are you sure this apply to cryptocurrencies? Here in Czech we have very similar law - no capital gain taxing after 1 year hold. The problem is, cryptocurency gains can't be declared as capital gains - it falls into category "other gains" in czech law.

yep. it's been a well known thing for a long time.

https://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/

xydandys

newbie

Activity: 3

Merit: 0

Quote from: European Central Bank on August 18, 2017, 03:51:47 PM

he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.

Are you sure this apply to cryptocurrencies? Here in Czech we have very similar law - no capital gain taxing after 1 year hold. The problem is, cryptocurency gains can't be declared as capital gains - it falls into category "other gains" in czech law.

NewWorldCoiner

sr. member

Activity: 490

Merit: 250

Saved you from a scam? Send me some BTC!

Quote from: jbreher on August 18, 2017, 03:34:43 PM

Jillions of butthurt core-ians keep mouthing about how they are gonna dump Bitcoin Cash down to zero. I'm sitting here at my pick-a-nick table with plenty of ammo when they eventually get around to it. But it just doesn't seem to be happening. I think these big-mouthed core-ians are inwardly scared Bitcoin Cash will emerge victorious, and are hence hedging their bets. By not following through on their empty threats.

Yeah - you (the reader, not necessarily bitserve). Yeah - you. You know who you are.

Mine are long gone squire.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: bitserve on August 18, 2017, 03:52:42 PM

wait what? no capital gains for long term (more than 1-2 years) investments??!?!

yep. not a freaking bean after one year.

and it's super low in the netherlands too, something like 1.2% with no minimum time needed.

and there was i thinking the eu was all harmonised.

criptix

legendary

Activity: 2464

Merit: 1145

Quote from: bitserve on August 18, 2017, 03:52:42 PM

Quote from: European Central Bank on August 18, 2017, 03:51:47 PM

Quote from: criptix on August 18, 2017, 03:49:57 PM

Quote from: aesma on August 18, 2017, 03:12:48 PM

In France the taxman doesn't care about tokens. Only when converted into fiat do you need to declare the money, then it's taken as regular income. Meaning there is no way to deduct what you have spent to get the coins, so it's not practical. I'm considering opening a fake company to go around that problem.

Gosh i hope you are using a vpn.

This forum is a huge honeypot for sure.

@BCH

great p&d

he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.

wait what? no capital gains for long term (more than 1-2 years) investments??!?!

Yes. If you hold atleast 1 year.

Edit

Denmark might be even better (tax free) but only under certain conditions.

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: European Central Bank on August 18, 2017, 03:51:47 PM

Quote from: criptix on August 18, 2017, 03:49:57 PM

Quote from: aesma on August 18, 2017, 03:12:48 PM

In France the taxman doesn't care about tokens. Only when converted into fiat do you need to declare the money, then it's taken as regular income. Meaning there is no way to deduct what you have spent to get the coins, so it's not practical. I'm considering opening a fake company to go around that problem.

Gosh i hope you are using a vpn.

This forum is a huge honeypot for sure.

@BCH

great p&d

he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.

wait what? no capital gains for long term (more than 1-2 years) investments??!?!

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: criptix on August 18, 2017, 03:49:57 PM

Quote from: aesma on August 18, 2017, 03:12:48 PM

In France the taxman doesn't care about tokens. Only when converted into fiat do you need to declare the money, then it's taken as regular income. Meaning there is no way to deduct what you have spent to get the coins, so it's not practical. I'm considering opening a fake company to go around that problem.

Gosh i hope you are using a vpn.

This forum is a huge honeypot for sure.

@BCH

great p&d

he should move to germany. after one year of holding it's all tax free. something'll have to be done about that.

criptix

legendary

Activity: 2464

Merit: 1145

Quote from: aesma on August 18, 2017, 03:12:48 PM

In France the taxman doesn't care about tokens. Only when converted into fiat do you need to declare the money, then it's taken as regular income. Meaning there is no way to deduct what you have spent to get the coins, so it's not practical. I'm considering opening a fake company to go around that problem.

Gosh i hope you are using a vpn.

This forum is a huge honeypot for sure.

@BCH

great p&d

rolling

hero member

Activity: 824

Merit: 712

Quote from: conspirosphere.tk on August 18, 2017, 03:29:30 PM

Quote from: rolling on August 18, 2017, 03:20:26 PM

In the US, you owe taxes on the value when you receive it and then again if there are gains when you sell it.

Are you really declaring your ownership of BTC? OMG. Shocked

I didn't say anything about what I am doing. Whether you declare it or not, you still owe it. Whether you want to evade paying taxes is up to you. I was just replying to the person who said you only owe when you spend it.

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: Lauda on August 18, 2017, 03:34:18 PM

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Do you realise that "spending" the coins is a taxable event?

No. If you don't convert, you don't need to pay anything at least not in Europe.

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Or are you just counting on they never figuring it out you did?

Good luck with that one.

Quote from: bitserve on August 18, 2017, 03:31:49 PM

but, again, usually you do know what USD/EUR value you sold for. Now, declare accordingly, you shaddy criminal!

Are you telling me that every time I pay food delivery via BTC I have to visit the tax man? Cheesy

Yes, you should..... Maybe I am also counting on them not figuring out. But a taxable event is a taxable event, no matter what you think.

I will give you an easier example, in Europe:

You are European. Your currency is EUR. You exchange now 100.000€ for $117.000. Now you sit on it for a couple of years. Now your dollars are worth more EUR an you use them to buy a house that is worth 120.000€. Ok, you are suppossed to pay for 20.000€ capital gains. Get it now?

Of course, it is very unlikely they get you if you don't declare. But you are a shaddy criminal anyways

Torque

legendary

Activity: 3780

Merit: 5429

Quote from: jbreher on August 18, 2017, 03:34:43 PM

Truth be told, it depends upon how you measure it. I own quite a bit more Bitcoin Cash than Bitcoin Core.

Bitcoin Core? I guess that's yet another new fork like BCash? Because we don't what that refers to here.

Quote from: jbreher on August 18, 2017, 03:36:55 PM

According to the IRS (you are US-ian, no?), the person who is giving the item of value to the merchant. Even simple barter is fully taxable at prevailing fair market rates. True story. Sucks, but them's the statutes.

Just trying to keep you outa trouble...

Thanks mom. As an American I'm not at all familiar with the tax laws here. /s

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Torque on August 18, 2017, 03:28:21 PM

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Do you realise that "spending" the coins is a taxable event?

If someone gives a merchant bitcoin in exchange for goods or services, and then the merchant cashes that bitcoin out for fiat directly to his bank account, then who is doing the "spending"? Hmmm?

According to the IRS (you are US-ian, no?), the person who is giving the item of value to the merchant. Even simple barter is fully taxable at prevailing fair market rates. True story. Sucks, but them's the statutes.

Just trying to keep you outa trouble...

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: bitserve on August 18, 2017, 03:21:25 PM

Quote from: jbreher on August 18, 2017, 03:06:21 PM

Quote from: machasm on August 18, 2017, 10:41:29 AM

I understand that miners mine for profit but what about idealism?

Plenty of idealism in the Bitcoin Cash camp. Both users and miners. How else can you explain the chain being extended through the dark days of loss-inducing mining relative to mining core?

Hey Jbreher, do you still own most of your stash in BTC? Do you really think this is good for your economical interests?

Truth be told, it depends upon how you measure it. I own quite a bit more Bitcoin Cash than Bitcoin Core. However, my Bitcoin Core is -- for the moment -- worth more in USD terms than my Bitcoin Cash. I have been converting Bitcoin Core to Bitcoin Cash in small doses on a several-times-per-day basis since the fork.

Jillions of butthurt core-ians keep mouthing about how they are gonna dump Bitcoin Cash down to zero. I'm sitting here at my pick-a-nick table with plenty of ammo when they eventually get around to it. But it just doesn't seem to be happening. I think these big-mouthed core-ians are inwardly scared Bitcoin Cash will emerge victorious, and are hence hedging their bets. By not following through on their empty threats.

Yeah - you (the reader, not necessarily bitserve). Yeah - you. You know who you are.

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Do you realise that "spending" the coins is a taxable event?

No. If you don't convert, you don't need to pay anything at least not in Europe.

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Or are you just counting on they never figuring it out you did?

Good luck with that one.

Quote from: bitserve on August 18, 2017, 03:31:49 PM

but, again, usually you do know what USD/EUR value you sold for. Now, declare accordingly, you shaddy criminal!

Are you telling me that every time I pay food delivery via BTC I have to visit the tax man? Cheesy

HanvanBitcoin

full member

Activity: 308

Merit: 100

Quote from: HanvanBitcoin on August 18, 2017, 03:00:26 PM

Looks like i failed to buy the dip Cry

Looks like i got a second chance Grin

Bought back in @ $4060

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: Torque on August 18, 2017, 03:28:21 PM

Quote from: bitserve on August 18, 2017, 03:25:17 PM

Do you realise that "spending" the coins is a taxable event?

If someone gives a merchant bitcoin in exchange for goods or services, and then the merchant cashes that bitcoin out for fiat directly to his bank account, then who is doing the "spending"? Hmmm?

It's more simple than that. Usually when you buy something, that something is already priced in USD or whatever..... well, that is the price you have sold your BTC for. If it wasn't then we would need to use a "market value" of those goods/services which add complexity to the calculation.... but, again, usually you do know what USD/EUR value you sold for. Now, declare accordingly, you shaddy criminal!

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16584. (Read 26610941 times)