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It all depends on the bilateral tax agreement between the 2 countries. Unless there's one, the person would have to pay income tax in both countries. Car and boat would be seen as benefit in kind and they would be taxed too.
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What about real people?
It's a pity people only talk about investors. There are also people like me who use BTC to pay freelancers or buy hosting services, and domain names. Has anyone seen somebody being paid with an altcoin? Can you buy goods with altcoins?
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One of very reasons I love BTC is precisely that it's virtual and doesn't require anything but a computer. Can't understand why some people want a hardware wallet which can break, or be stolen.
I think you need to read up a bit more on hardware wallets. They give you a seed which lets you recover your funds from many major wallets (in TREZOR's case Electrum for example, as well as many others), or you can recover from another TREZOR. When you recover from another TREZOR you don't even expose your seed to the computer, because your TREZOR randomises which words you have to put in, making it very difficult to find the order of the 24 words. This makes hardware failure, loss or even stealing basically irrelevant, unless they take your seed. Most modern robbers would only take it because they see a piece of technology, so they wouldn't search for your seed when it's hidden in a bank safety deposit box for example. You also have passphrase encryption, and you can use multiple passphrases and hidden wallets to protect against 5-dollar wrench attacks. It's not the most secure thing in the world but for someone who's not very tech-savvy it's extremely good. Yes, I shall agree that the risk of theft is quite remote, loss would be more likely to occur. But I still don't see the point of a hardware wallet. I can recover my wallet from any computer in the world without anything physical. This is what I like. That's the easiest. |
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Very surprising!
One of very reasons I love BTC is precisely that it's virtual and doesn't require anything but a computer. Can't understand why some people want a hardware wallet which can break, or be stolen.
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Except for exchanges, BTC isn't a business. It's a currency. The huge problem being that the last time I bought something with BTC, the transaction took 12 hours to confirm. So BTC isn't like another currency...
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I advise against doing anything in your home country if you have one. You don't need to pay tax to anyone. If you're in Europe, or willing to travel to Europe, and unless you're an American citizen (FATCA), I can help you (not for free, though) to move that money into a safe bank account.
But why cashing out that much? What do you plan to do with that money? Whatever you'd like to buy, it's worth trying to buy it with BTC.
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Yes! I don't see why BTC should be the only cryptocurrency. I believe Ether and Monero are good, too. I doubt there could be more than 10 successful altcoins, though. I'm amazed with ripple, which I see as a huge scam, but look at it, it has risen like crazy since the beginning of this year.
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Wow! Those guys have a one-letter domain name! This is not some lousy start-up with funds borrowed from mum. Good that such a company believes in BTC. |
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The government's regulating BTC? Which government? And who regulates the government?
Please, no more stupid question. BTC's doing fine without any government's help.
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Do you have a bank account? How did you choose your bank? Did you check a list of all banks before choosing one?
I've opened and closed several banks accounts in my life, and it's the same with BTC clients. I started with the core client, went with Multibit for a while, and now I'm using Electrum while having some money on Poloniex to trade altcoins. I may use a different client next year, and I will probably change bank, too. Hey, nothing's fixed!
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Yes, BTC has been declining for months, and that shouldn't surprise anyone. As long as the scaling issue isn't solved, it will keep on going downwards. But BTC is still way ahead of all the other cryptos. It's the only one you can actually use to buy goods or services.
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I'm using Electrum too, but Multibit is great for newbies who would be unable to set the correct fee.
Alos, unless you're a miner, you should not be surprised to have to pay a substantial fee if you want a fast transaction.
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Uf, it's sorted out (my stupid error in administration  ). Thanks for the help everybody and sorry for the confusion. It is also a reminder for me that when participating in lending/margin trade it is good to keep a very close eye on in and outgoing transfers. The information that you can gather afterwards is limited. Yet another crypto lesson learnt. I want to mention that there was NO error of Poloniex or system glitch (what I suspected at first). No blame there. Good to know. I know you can lose your coins fast with margin trading, but lending is supposed to be 100% safe. And that should be considering the profits are very low. |
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One single country? Why settling down?
How about several places in several different countries? The problem with settling down is that you will need to get some permanent residency visa, which often means tax obligations, proof of income and various legal requirements. If you're a perpetual traveler like me, you don't pay tax anywhere.
How much can you spend on property? What kind of weather do you wish? Regarding cost of living, how much can you spend a month? Do you want to drive a big car? Do you play golf? Do you want to be on the seaside? There are so many things to consider...
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Thailand is already well developed, you may consider its neighbor, Burma. I was talking to a Vietnamese friend not long ago, and she's investing in Myanmar. The country's opening up, and there is plenty of opportunities for foreigners with cash in hand.
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Go the other way. But it all as you wish, not as you are forced. Free enterprise in government. Buy the government services you want rather than being forced through taxation.
Nope, the principle of taxation is that you pay what you can and you get what you need. That's not possible with just public services. The principle of taxation is that you pay. Often you don't get what you think you are paying for. Often you get things you don't want or need. Get rid of taxation. Buy what you want or need. If Government is the best supplier, buy it from Government. But, be allowed to choose rather than forced.  And if you can't because you don't have the money for it? :/ Look at USA, numerous people, even with good insurance, simply don't have the money to pay for healthcare... I don't like the idea of death, either. But all people seem to die sooner or later. No money? Work for it. Don't steal it from others, even by hiring a bunch of government people to do the robbery for you through taxation. So if you got a basic income and you get a cancer, treatment costing about 2 or 3 millions, how do you do? You die? Because it doesn't matter how hard you work or how honest you are, you can't get 3 millions normal way. So, you die. What's wrong with that? I don't get it that plenty of people believe the human race is some kind of a superior species with a given right to well-being, healthcare, housing, food, etc... |
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So who should pay the big costs of developing a movie? Because while individual piracy is rampant, television stations and cinemas can't get away with copying their work without pay so the movie studios survive.
Good. Actors and everyone in the movie industry is overpaid. I've illegally downloaded hundreds of movies, and I invite all readers to do the same. Ditto for music. Musicians should earn money performing, not selling recordings. Actors should be making money playing in theaters. Think that the world would count many more actors, musicians and singers than there is today, if all performance was live. Many artists cannot make a career today, because they can't compete with the promotion from the big stars of the largest studios. |
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I just broke my record this morning.
I made a transaction with a 0.00185434 BTC fee. 1222 (bytes) so fee per byte was 151.746 sat/B.
41 minutes to confirm. I was a BTC supporter because it allowed cheap and fast transactions, those days are gone.
Waiting for SegWit...
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