I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.
I believe bitcoin's legal status is not clear in majority of the countries and that creates a lot of confusion on taxing part. People are unsure about how to pay tax on bitcoin. My country is having the same status So I am disclosing my bitcoin incomes in my tax filing every year since last two years. having said that, I only disclose what I have cashed out in fiat. So my actual bitcoin holding I am not disclosing as I am not getting any income from it. I am disclosing only the amount I have converted in to fiat. I hope I am doing the right thing. Yes. There is so much confusing regarding payment of tax on bitcoin. However with what you are disclosing, which depends on your country's law and policy apparently on tax laws … I do not really see any issue with what you are doing. After all, since you are disclosing what you have cashed out in fiat and paying tax on that. I see no reason why I should disclose the bitcoin I have anyway but everyone have what works for them as what may be right in my own eyes may be wrong in someone else. |
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I have just over £500 to spend and I'm not sure where I should be investing this.
Do I buy a small fraction of a bitcoin or buy 2 ethers?
What would you do?
I'm looking for some long term investment.
Also, i'm hoping to contribute £100 per month towards either one but not sure which direction I should be taking.
Ethereum seems to be quite alright as of now, but based on the stories I have heard of it, I wouldn’t be Investing in such. Bitcoin was the first, and also the most trusted, so I would say you keep calm and keep that £500 somewhere safe and wait for Bitcoin price to fall, possibly on November, then you invest it and make profit. |
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Hi guys! I am planning to invest in alt coin, particularly Ethereum. What do you think is the future of ethereum?Is it a good investment?Please help me.Thank you.
Ethereum is a very good option to invest in. It has seen good days and it will definitely see better days ahead. Presently now that there is a little dip in the price is the right moment to get in. It has a good future most especially with the inbuilt token idea it has to easily generate ETH based tokens. |
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What is best online wallet to store bitcoin? I know most will say online wallet is the least safe however as I am starting out with very little money I just want 1 which is secure and easy to use.
Any advice would be greatly appreciated.
I know almost everyone will tell you blockchain.info. No doubt they have been around for a while and have been able to get their client's loyalty with their great support. However, you should know that this wallet does not give you full control over your funds and if you are planning to store for long, I will advise you use at least a desktop wallet and if you have some cash to spare, try a hardware wallet. For a newbie though, blockchain should work best for you but consider all I have said later on. |
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Hi all, 1 month before segwit I sold my BTC for ethereums and was sure that it will grows as fast as btc. It was not smart decision I know. But now I see that it is ±300$ all the time when bitcoin is close to 4300$... I regret that didn't sold my eth for btc once segwit happened... But I hope that 4300$ is not maximum of bitcoin price in this year so I am planning to sell my ethereums. But I don't know when to do that. I feel bitcoin correction in near time so maybe it is better to wait a bit? But I am not sure about eth price in near time. What to do?  Thanks a lot community! Happy you criticized your decisions first. Sometimes we make huge mistakes, no one hasn't. Nevertheless, the good thing about crypto market is that if you are not rushing, you can still try to hold for long. Market will bounce back, and you can sell for profit again. Just be on the watch out, read news and hold for the meantime. |
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Btctalk name : beerlover
Rank : Hero Member
Current post count : 998
Btc address : 1EjdmqPuZ8UskHsRA9LNQQMGyN119FQHrC
ETH address : 0xCD60f6A6aF69B19FF689D80680A99B94B01382A9
Wear appropriate signature : Yes
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The main reason why I joined bitcoin is that to aid my financial expenses. I didn't come here to be a millionaire, I do want to be a millionaire but not now since I am a still student. The reason why I enter here is that I wanted to pay my bills without asking from my parents.
That’s so nice, you should be proud of yourself. Such students are precious who are not dependent on their parents for their expenses. Bitcoins are very good for those who want to be independent and not be burden on their parents. You will ultimately going to be millionaire after few years if you keep working hard with bitcoins. |
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Bitcointalk username: beerlover
Rank: Hero Member
Current post count: 996
Bitcoin address: 1EjdmqPuZ8UskHsRA9LNQQMGyN119FQHrC
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I can see that people nowadays are busy searching on money and everything depends on money. People nowadays never go to church just because they would rather earn money rather than praise God. Others do not pay respect to elders because they earn money for them or richer than them. Well for you, is money above all things ?
Absolutely yes! I put money and respect above all the other things, and with money comes respect too, so I just focus on earning money and everything else does follows. And I focus on money because I don't want to wake up in my old age and find out that I don't have anything left in my savings and I would have to go to work in that age. Money in the first row and all the things behind it. you can imagine if someone does not have money he can even not buy the necessities of life. Then if we talk about the bitcoin, how can one buy if he does not have money. Buying bitcoin is the business of rich people and not of the poor. Everyone in this world is putting and spending his energies to earn money. |
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This isn't the first project their were many projects here that allow you to use bitcoins to purchase you house with bitcoin , the reason why it is costly is because it's build on the posh side of dubai. There is many bitcoin related stuffs here i was able to see the bitcoin atm also but couldn't use because it was for the people in that particular business, there also has been a new coin launch here
It depends totally up on your location. It might not be the first one and certainly it is not but at least the people can buy a condo in Dubai by spending their bitcoins. I haven't seen any such offer here in my country. If it is in the Dubai, definitely it will be hell expensive. |
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DarkStar,
Any chances for increasing number of slots in near future.... please consider me when slots open. Thank you.
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I’m sure it will achieve the price rate of $5,000 soon, but if it doesn’t achieve that before November, then it’s likely to take long before it does. Unless people happens to invest a lot into it, then you will see a bigger pump.
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It is necessary to budget wise your coins.. I don't consider recommended or percentage amount to hold.. depends totally on how you balance handling the coins, just make sure you are satisfied the value before selling it
Yes, the percentage of any coin you are holding totally depends on you and the potential of that coin for making great returns. If it is bitcoin, you should hold much higher percentage of it compared to other coins in our wallet. Among altcoins, waves and neo deserves good place in wallets. |
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I guess anyone will prefer to know the following things :
1. Who will register entropay card
2. How much commission you can provide for this services and it will be based on per card or based on amounts ?
3. Approximately how long this deal will last
4. When I last used entropay, they accept only visa/master cards to load funds to their virtual cards. If OP comes with available payment methods for loading entropay, it will be helpful for many people here. I wonder, why OP needs entropay cards as there are lot of crypto based virtual/physical card providers are now a days available given that he is ready with BTC payments. |
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The "Demonitization" attempt to flush out undeclared wealth, has failed according to this article : http://www.bbc.com/news/world-asia-india-41100610The subsequent result of this was actually catastrophic for India's economy. A lot of people lost their jobs and the real estate sector look some huge knocks. In a proper regulated "Bitcoin" environment, people will find it difficult to hide their wealth. Yes, it is a problem in the unregulated environment, but it will be easier to monitor it within a regulated environment. ~~ What would your solution be, if you were confronted with this problem? ~~ Can Bitcoin regulation help to solve this problem? ~~ Should Bitcoin support governments in monitoring wealth and honesty in tax reporting? ~~ What will happen if Bitcoin is used to circumvent measures to hide wealth? ~~ Will full transparency destroy financial transparency? Share your thoughts on this matter please. I am curious to see how honest Bitcoin users can be with their views on this. Please don`t put the words "regulated" and "bitcoin" in one sentence.It`s horrible.  I don`t know what exactly are you trying yo say with "regulated Bitcoin environment".What is this? The whole consept of bitcoin and cryptos is to create a "regulaiton free" environment,away from governments and banks.There are easier methods to find and catch people who are hiding their wealth. Demonitization is not one of them.The Indian government should increase VAT and decrease all the other taxes. I also hate regulation, just look back at what damage BitLicence brought to the businesses in New York. The thing is, we either change the governments with our vote or we adapt to the government regulation that are forced onto you. The government will not just sit idle and relinquish control to a unregulated currency that is in direct competition with their local reserve currency. We should find ways to work with them or to replace them with Bitcoin-friendly governance. < at the next elections > I think there will be hardly any Government which will keep its people out of the things which are helping them. Bitcoin is no less than a miracle changing the lives of people. It will take time and all the things will be in favor of Investors and users. There is hardly anything to worry about Government. |
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Almost any error have the same root: be sure to store your own private key, and you should be ok
I will second you. No one wants to earn less. It is just the lack of knowledge and skill set which gets you out of race. You need to learn about the things and market trends in a good way. Only then you’ll not suffer. Besides take some guidance from veterans and try to learn from their mistakes. |
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For one reason or the other, it appears to me we all are on the same side in this matter. I respect all great minds and admire Satoshi from the core of my heart but my reason for not disturbing him is that I simply don't care where he is or how he is. None of my business...
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Everything has its own pros and cons. Capitalism, no doubt has worked positively for the people who are unable to feed their families. Capitalism has raised the standard of living, thus giving more opportunities to earn more. I personally consider it the best economical system.
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where do you hear that bitcoin is free of charge when transactions transfer?
I think maybe you misunderstood the information.
Lmao… it’s likely he came across an old bitcoin post on the internet, which the author never took the responsibility of updating his posts. This time around, sending bitcoin from one wallet to the other will cost you a fee. With the current rate of $4,500+, we need to pay as fee around $5 or so. |
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I hope that you've gotten pulled off at the Forum by now. The fact is you can't just go around and sell things like this it goes against the terms and conditions of the sites besides this forum itself. There's a serious difference between operating and a decentralized fireman and complete Anarchy.
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