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wow that is really a good news for all of us as this will have a positive feedback with all of us so for me that was a great news. Hoping that we can have some government officials here in our country as well that is also involve in crypto.
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Some bitcoin holders on other countries already are. They pay taxes depending on the amount of bitcoin they earned. This is classified as income tax. When you earn through blue or white collar jobs, your earnings will be deducted by tax. This is an active income. Same as passive where you earn via investments , it is also subject to tax. Taxation depends on the country itself in what category they will put bitcoin earnings to. There are also some countries like mine who doesnt implemented taxation yet and this are highly favorable to us holders.
why not if it is required to do so then why will I disobey the law but while it is not yet regulated by our government then I'll enjoy first the fruit of my hard earned crypto. Still here in our country the status is not yet cleared since they were still in the process of studying it. |
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Btctalk name: burner2014
Rank: Hero Member
Current post count: 1823
BTC Address: 19EBuyo39m589RVQnY6zdfCNnBoN4uMW3V
Wear appropriate signature yes
Wear avatar yes
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What do you think are the effects of btc in your country? Because in my country it thus not affect the economy of ours. Share yours.
bitcoin has no effect in my countries economy yet maybe because it is not yet popular and people mainly use fiat money. few are still not aware that cryptocurrency exist. Maybe you are not just aware of the effect or you don't have enough info about it. Anyway, here in our country we are already transacting around $1M to $3M every month circulating in our country and it is really has a big effect since we are already transacting millions every month. A lot has become successful as well, have red some of those testimonies that is really inspiring. Well, growth of an individual is also the growth of the economy of a certain country. |
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Locking this thread and will give some time again when I do have enough merit. Good luck for all of us.
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Thankyou for the Merits!  Your welcome and you deserve it! |
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Regulating is just one of the ways that the government have come up with for them to control the cryptos inside their countries.
We don't need regulations, its the governments job to cope up with the cryptos so that they can't have losses whenever possible. Well since the cryptos are expected to be more profitable on some jobs (depending on the job really). Then again, if you wanted to have serious profits then switch to this platform.
Having regulations means, having the currency be centralized.
This argument against government regulation to cryptocurrency has been one of the most talk of the town here in forum and over social medias. Bitcoin and other cyrptos market are in constant fluctuations, regulating this worldwide creates grappling with ways to control trading and the traditional banking. At year 2017, it was they year when ICO was developed and in this year it is now the time to become the year of regulatory reckoning and I believe that it was already begun to heat up around the world. Some really welcoming it while others are banning it and some seems to be don't care about this one. |
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Gave you some buddy, keep it up! |
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I do have some merits to send for those who are deserving one. I don't have much time to explore all over the forum so I wanted to give back the blessings that I do have right now for those who have the eagerness and deserves to rank up. Just post the link below so I can review as fast I can. For all the newbies out there DO NOT GIVE UP, just make quality post as much as you can and eventually we will all become successful. For those who have plenty of merit, it is better to share than keeping it in ourselves. Good luck guys.  |
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Not only asia there are some countries in Europe also where bitcoin is illegal.there have some reason why they are banned bitcoin.such that bitcoin is not mone its a electronic data.so that people didn't pay tax for it and without tax any country gone ruined.so i think thats the reason why some of countries in asia bitcoin is illegal.
Some Asia's country just like Taiwan, Thailand and China have same reasons and that is that bitcoin has no value at all and that it was just manipulating us and some says that it should be not tolerated. They have different different perceptions regarding this matter. But, in those Asia Japan is really having the great decision by allowing bitcoin and cryptocurrencies to used in making payments and other related transactions. |
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Btctalk name: burner2014
Rank: Hero Member
Current post count: 1818
BTC Address: 19EBuyo39m589RVQnY6zdfCNnBoN4uMW3V
Wear appropriate signature: Yes
Wear avatar: Yes
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It should be knowing how to identify what's legit and what's not. Reading many threads on these forum gave me many ideas to filter those scammers. Imagine that if you got hyped in a coin and you go all in but you never knew that it's a scam from the start so having that knowledge is very helpful.
You are right, we can really rely on those information that is available here in forum, so for me knowledge is really an important thing for us to be able to become successful. All of the things that we want can achieve by starting to focus what we want so that we can absorb the knowledge that we want as knowledge is our foundation for everything, with this we can develop our skills and our own strategies in life. |
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Who would not lead to addiction when you can earn unlimited here especially in trading where in you can play with your money thru converting to coins. This kind of addiction is in a nice way so I think that it is better than nothing profit at all, we should grab opportunities as if it is the last so we can do our best on it and when we are already having our profit don't waste your money instead use your profit in holding bitcoin and in putting up your own business.
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What do you think should be done?
These days bitcoins are not given directly in campaign but tokens are given and very less campaign give bitcoins purely.
What would you do?campaign or trading?
I will do both, trade and work in signature campaigns. Because with me doing both, I will get a lot of benefits if both are experiencing the success I want. I am doing both of this especially when I do have more time for example I have idle time at work and that time I am using it in checking the price history of each coin that I want, and also making updates in the trading, and so far in my years here I did not lose some of my money as I am always double checking in which coin I would invest. So doing both can be done for as long as we know how to handle our time well. |
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For the years that I have been here in this forum I have learned that the factors that could destroy your trading is YOU, you are the one who creates your life here and you are the responsible as well when you created mistakes and you will also be the liable in fixing it or you will just stop trading and just let go. So, your choice is in you.
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You will only know the right age for them depending on them too,if you can see them capable of doing this kind of things then go teach and explain him everything.Dont force a child if he doesnt want to because it will just be bad.At any ages as long as a kid can understand everything they are good at any age
When they are already in their high school or teen life I think that it is time for them to know what cryptocurrencies is so that they can already explore it themselves, for sure a lot of teenage here are trying their luck here since there is no age required and everybody is welcome to do this whether you are young or old. |
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Taxation on bitcoins will be applicable depending on how you treat income from bitcoins, based on the frequency of transaction. If the gains from bitcoins is arising due to trading, it will be treated as business income. In case the gains arise due to increase in prices while you hold it as an investment, the gains will be treated as income from other sources. Suppose you buy and sell bitcoins regularly, then the gains from the sale of bitcoins will be business income and the loss would be business loss. In case you hold a bitcoin for longer duration and then sell it, the profit will attract capital gains tax. Bitcoins will be treated as capital assets if you buy for investment purposes. This means if you hold bitcoins for not more than 36 months, the gains arising from it will be considered short-term capital assets. In case of short-term capital gains, the gains from sale of bitcoins would be taxable at your applicable slab rates plus surcharge and education cess. If you make gains after holding bitcoins for more than 36 months, then long-term capital gain will be applicable—you will be taxed at 20% plus applicable surcharge and education cess, with the benefit of indexation.
Even though bitcoins are not mentioned in the income tax Act, you still have to pay taxes. As of now, there is not enough clarity on bitcoins in terms of regulation. So, it would be advisable to seek professional help while filing your returns in case of any gains from bitcoins.
You are right, since a lot of the countries are still in the process of studying whether to accept bitcoin or not so it is somewhat of how we are going to treat it for as long as their is still no tax regulations about it then we don't have to worry about those things, yes we should pay tax when needed and required. |
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China is just too greedy country they don't want their country to have another source of income unless that they will imposed tax on it, and as a matter of fact they just want to have their own coin that can be bought worldwide. Anyway, I don't think that China can blocked all sites that are related to cryptocurrencies.
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The US debt have now passed one trillion, and the corporate tax-cuts have made it even harder to recover.
Trump have even proposed to print money to settle it.
Will this spark an increasing number of people in the US deciding to starting putting a part of their savings into BTC while the price is still perceivably "low" atm? -- playing one of its proposed role as a "store of value" (besides buying of Gold bars), I wonder.
Well, not everyday is Christmas so sometimes we need to suffer this thing first before eating a buffet again, we should have been anticipated it in the first place as we all know that price of bitcoin is so volatile so that we are not suffering and getting sad and mad right now, as for me at least I have save money even for a little. |
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