Thanks, yeah how about like 1 entire bitcoin? Lets say someone bought bitcoin every couple weeks over time and has 1 bitcoin. Bought via exchange, and ATMs that don't require ID and just converted to XMR, sent to another address and converted out to bitcoin. So there aren't many records.
And lets say the individual is not going to spend or sell the bitcoin until it reaches 1 million dollars... which could be in the far far future, 20 30 maybe 40 or 50 years from now. Something that makes it possible that records held by the ATM and exchanges could be gone if those exchanges go out of business.
And, if someone had 10 anonymous bitcoins.... I'm thinking they should wait till it goes up past 70k again and move to a more tax forgiving country, or a country that will not be afraid to tell the US to go F-off... And honestly there are few nations that will do that, maybe Russia? Although being prepared to follow all the laws of this new country you have moved to because you've burned your bridges.
What you are asking has been discussed in several threads, for example this one: https://bitcointalk.org/index.php?topic=5355749.0The answer to your question depends a lot on where you live, but to summarize. Showing up with a Bitcoin when it's worth $1M before tax authorites is the same as suddenly showing up with $1M in dollars that you can't justify. In the best case scenario you will be charged a tax, which could be capital gains tax with 0 purchase cost in the case of Bitcoin and I am not so sure in the case of cash. It could be the same or it could be income tax. But I am inclined to think that you would be investigated for tax evasion. Think Al Capone was put in jail for tax evasion: they couldn't prove that he murdered, extorted money, etc. The only thing they could prove was that he had more money than he could legally justify. So, $1M seems to me a considerable amount of money to open such an investigation. If you have $1k in Bitcoin that you can't justify you're not going to have problems but when the amount gets big you risk ending up in jail. |
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Don't forget that many people in the world have limited access to banks and telecommunications. For them, no electronic form of currency is available and they must rely primarily on paper money or perhaps "physical" bitcoins.
The banks, fine, but the Internet: " A total of 5 billion people around the world use the internet today – equivalent to 63 percent of the world’s total population.
Internet users continue to grow too, with the latest data indicating that the world’s connected population grew by almost 200 million in the 12 months to April 2022." Digital Around the WorldPeople are not going to use physical Bitcoins because of how impractical they are, if they can use digital ones with their mobile. The bad thing is that they will probably do it through centralized companies and custodial exchanges, but that is a different story. |
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It hard for me to lose my prediction because I always found good results in my prediction that made many people to believed in my prediction in the community. According to my research i Carried out few days ago, show that Bitcoin price will soon increase higher to hit back to $50k or $65k before the end of this month of July for those that bought at the low price to get ready for massive income people are going to enjoy from the market soon.
I wouldn't call it "research" to start thinking while gobbling bags of Doritos after watching some YouTube videos in your mum's basement. Can you detail the method of your research and the conclusions you have reached, step by step? Your research sounds to me like an overdose of Doritos. |
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This is not accurate. Bitcoin is not a legal tender anywhere in the Russian Federation (including the 22 constituent republics). If he had only looked at the date, he would have seen that it is a "news" from February 10 of this year. In other words, a garbage article from an unreliable site to say the least, and on top of that he puts the link here boasting as if it were breaking news. |
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I am also follower of 1 BTC equals 1 BTC but the thing is you have to have measuring unit so that you can value something correctly.
1 Bitcoin is 1 Bitcoin but having 1 Bitcoin in 2010 has nothing to do with having 1 Bitcoin today. Let's see if we put things in perspective. That tautology strikes me more as a wishful thinking mantra rather than a description of reality. If we had a fiat-decoupled version of Bitcoin which could be traded for services and goods without a third party currency, how would that look? Obviously the government would have no power over people accepting BTC for their goods and services (other than intimidating people with punishments, if caught).
As much as the community would not want to make an equalization between Bitcoin and fiat currencies, nothing would stop the government from doing so. Imagine you sell something worth 0.1 Bitcoin. To tax you the government would do the fiat equivalence, currently about $2k. |
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I will probably go first and leave a red tag unless there is a full refund within 48 hours.
I think there will be quite a few red tags if Best Change doesn't take action, and I am referring to delisting the scam exchange. I wouldn't red tag Best Change if the scam exchange doesn't give a refund. |
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I am doing a test.
So, apparently someone has changed the title, that it doesn't appear as such from outside the tread or in the main title, but in the answers.
JollyGood, was it you?
"Re: BestChange is not a scam" appears to me from your reply.
Oh! OK. I see now. Best Change has changed the title in his reply and it appears in yours as you have quoted him.
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I have heard many people say that never sell for a loss but what does it actually mean ?
Assuming you have bought a coin at $10 and the price goes down to $9 but you don't sell.
You could have placed a stop loss at $9 but you take "Never sell at a loss" so seriously that you decide to not put a stop loss.
The price goes down to $8 but you are too good at HODL. Suddenly the market crashes and the price goes down to $5.
You could have limited your losses at $9 but now your portfolio is down by 50%.
Now the price has to go 100% so that you breakeven with no loss no profit whereas you could have bought back at $5 and gained potential profits using a stop loss.
That is not the worst-case scenario. The worst is when it goes to 0, which I don't think happens with Bitcoin, but with shitcoins and company shares it does happen. I go long term with Bitcoin and I don't sell, but there are situations when you have to consider it. If you're an active trader, you do need to have a stop loss. You don't see what's about to happen in split seconds. If you're in spot or margin, having a stop loss is very important.
Specially, if you're into margin trading. Having no stop loss will make you loss all that you've got there as funded.
The problem with stop losses is that when there is a big market downturn they are useless and leveraged positions are cascaded and liquidated, as we are sick and tired of seeing. |
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Here in India, some of the private companies are already importing Russian crude oil and coal by making the payment in Chinese Yuan and UAE Dirhams. They can't pay the Russians in Euros or USD due to the sanctions. As a result Chinese Yuan is now increasingly being used for international trade involving Russian commodities. Hardly anyone prefer the Ruble right now, because of its volatility. Some of the companies explored the possibility of making the payments using the Indian Rupee, but the Russians were not interested.
In other words, the USA is shooting itself in the foot. Who would have thought it. Just to think that Gaddafi was killed for wanting to sell oil in Euros. And Saddam Hussein the same. There you have the weapons of mass destruction. |
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I wonder how the united states will react to this considering that russia are under multiple sanctions from them.
That's what I wonder too. The best thing that could happen would be for the US and Russia to enter into a Bitcoin mining competition, but as things stand I don't see that happening. Although there are a lot of miners in the US, but I mean it would be taken as a matter of state. With Biden's energy policy, I don't see him incentivizing mining. |
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This is a very controversial story because it is based on ideological differences. In a human way, we do not see anything wrong with crypto-anarchism and all its tools, but as an organization we are obliged to adhere to generally accepted norms. And in the case of exchanging cryptocurrency for fiat currencies, it loses most of its decentralized advantages.
Whether the community likes it or not, this is a reality that we all have to face. So far, cryptocurrencies are far from creating a full-fledged full-cycle economic system and imposing their principles on the world community. In a sense, today bitcoin is just a "side chain" of the US dollar, in the gateways of which AML filters are installed.
I am not going to go into ideological questions, as it seems to me that at some point mine would be closer to yours than those of others who criticize in the forum, but I am going to quote myself from the other thread: A site that only provides an email address, freezes funds and upon protests only returns 90% is a scam, and within the detailed explanations Best Change has given on many other topics, he has not gone into this one.
Can you explain why you still list this "service"? |
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Any idea how many people are buying/selling bitcoin and have not paid taxes?
I'm sure there is a trend here. The first few years nobody would pay taxes, unless it was huge amounts that they wanted to legalize. As time has gone on and there are more and more centralized exchanges, more KYC etc, more and more people pay taxes. If you have low undeclared amounts it is easy not to get caught. For example, let's say a friend sold you $200 in Bitcoin some time ago, which today is $800. It is easy to spend those bitcoins and the IRS will not find out. But if you have 10 undeclared Bitcoins you have a problem, especially if you want to spend them. |
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I got 90% back. First post updated. I'm tired and done with this shit.
Get the remaining 10% from Bestchange who referred you to that Exchange. For sure they got a lot of commission as referral revenue from the exchange by letting the exchange remove the bad reviews and let the good ones. Who says that BestChange referred them to this exchanger? Is not possible that he reached that exchanger directly and not using Bestchange service, in the end, I didn't see in the first post that he stressed something like that. It is possible, but that Best Change still has that scam site on their list does not look good to me. Regardless of whether they referred the OP or not. A site that only provides an email address, freezes funds and upon protests only returns 90% is a scam, and within the detailed explanations Best Change has given on many other topics, he has not gone into this one. |
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AnotherAlt = Royse777 and LoyceV+Notether are probably Royse or a friend as well.
You just blew what little credibility you had. That you were right that the Bitlucy story was going to end badly is probably due to pure chance, like the monkey throwing darts and hitting the stock market. You probably can't see Royse777 because he tagged you for being a bounty cheather or member of 1xCrap on your other account, and everything you have said so far was wishful thinking, which in the case of Bitlucy, by chance has coincided with what has happened in the end. |
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I am interested to know why did you decide to join their website. More precisely how did you find them first?
Can I know why have you chosen 1Xbit?
I don't know the specific reason for the OP, what I do know is that they invest a lot in advertising. They even appear in Mycellium and Blockchair. But if you just google it, you'll see ads and fake reviews in their favour. This forum is not visible enough to counteract that, and on top of that they are tolerated because scams are not moderated here. |
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This seems more like a duplicate post! I didn't know about the other one. Locking this one now. |
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Well, but this story is also not very different from the average user, who leaves his Bitcoins in Celsius or Coinbase and can freeze them. As if everyone who has Bitcoin keeps it with their private keys.
Anyway, Schiff is no fool either and will have a small part of his funds there.
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There are almost 8 billion people in the world ruled by only a handful of people who practically practice modern slavery - give a man a roof over his head and some food + a little cheap entertainment and he will behave like an obedient dog.
Really? More than in the Middle Ages? I don't think we are going to agree here, since we start from different ideological positions. The essential difference between the present time and the past is the reduction of hunger in the world, and the fact that many countries where not so long ago there was hunger are now full of fat people. I don't know what your conception of modern slavery is, but it is certainly much better in terms of quality of life than the old slavery. If we are on our way to 8 billion people on Earth, it is not precisely because the Earth is full of slaves, but because there is a business in producing a lot of cheap food and selling it to a lot of people. And there are people who get rich from that. Today's rich, unlike the feudal lords or the former slaveholders, are people who study money and know very well how it works, and besides, they give goods and services at a good price to many people. With its flaws, of course, the modern world where free enterprise exists is much better than in times past. |
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But why are we so concerned about this hedge against inflation which, anyway, was never even what it was supposed to be. I mean if it was, we would have seen something about it in the Bitcoin whitepaper right?
You don't have to. First, because there are times when an invention goes beyond what its creator foresaw, and second, because the fact that it was not explicitly included with the term inflation hedge in the whitepaper does not mean that it was not foreseen for it, being a deflationary currency, with a decreasing supply and with a total production limit of 21 million, it looks quite like inflation hedge. Secondly, how is it a failure if a currency that is able to buy MORE tomorrow than 10 years ago? Yes maybe Bitcoin tends to be cheaper than months and years ago, but make the time >5 years and it is always more valuable.
I agree with this. Focusing on the short term when analyzing bitcoin is foolish. |
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Should prolly be my first time making contribution to stuff's about plagiarism.
Are reporting plagiarism meant only DT member's ?
If Yes, I'll back off. If No, then I'mma report. It seems inner the gambling discussion ends there are no much eyes down that ends and both old members with the Legendary ranks also fall for that. ( Seen less from them lower ranks ).
I'm only saying, I've seen some copy pasted post in the gambling ends, maybe all because they're gambling they aren't taken seriously as other board's. Please DT member's or those assigned to report plagiarism should also look over that ends.
Thanks.
Report those posts. Reporting in general, and reporting plagiarism is not reserved for DT members or anyone else. Report such cases via the button and/or on the Report Plagiarism thread. |
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