As much as people may claim that 2022 was a disappointing year for cryptocurrencies, I beg to differ. I'm not actively purchasing Bitcoin, but I'm saving each signature campaign payment I receive, which is pretty much the same thing. On average, I'm "purchasing" $200 worth of Bitcoin per month. The amount of Bitcoin I received in 2022 is significantly larger than in 2021. Thus, this market condition is a great opportunity to acquire as much as possible for the distant future, when we'll hopefully start seeing a recovery.
I tried with you at every payment for the signature campaign, it will not be sold but kept on hold until it can accumulate more because I believe it will be better than selling just a moment after the money can run out. If you save in every payment then this is the same as DCA every week I myself is $60 and $240 per month is enough for me to save bitcoin as an additional accumulation and while for other data with bitcoin that I bought before it is also differentiated so that the two are should go well. I'm doing exactly the same. Receiving regular payments from signature campaigns is no different than purchasing Bitcoin yourself. It's actually a great way to acquire Bitcoin if you're not willing to risk your own money. You could potentially sell the minute you receive your payment, but personally, I don't think it's worth it; holding is much more beneficial in the long-term. I'm a little away from my DCA, which is sitting at approximately $28.000 since two years ago when I started receiving signature campaign payments, which isn't too shabby. There's a decent profit margin to be made. Oh yeah me too! It's one of the way to accumulate bitcoin consistently. It's my own little way of doing DCA since it is assured that you are being paid every week and you will not worry about the hassle of buying bitcoin with your own cash every week. Its hard to expect a good profit from what we are standing right now, I believe it is just way more better to just wait and be more consistent in doing DCA and not touching the payment we are collecting every week. Long term is more worthy since we know that tit will appreciate over the time. It's a relatively safe-ish way to accumulate Bitcoin, without risking your own money. It's still money since you could also use an exchange's address and sell them immediately, but if you're being paid a fixed amount in dollars, saving it seems like the best option in the long-term. In our case, having realistic expectations is a must. We shouldn't anticipate yielding 10x gains; I'd be satisfied with a 2x yield too, which shouldn't be too much to ask for. Anything between $50,000 and $60,000 is quite realistic and could be expected in the upcoming year or two. |
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Pretty, didn't know it. But browser is more practical, we rarely download and open videos via video players on our smartphones and even on your computers because of modern high speed internet and improved video-streaming platforms.
Yeah, and maybe this is their own approach in order to gain more users. YouTube, Netflix, Amazon Prime and what not. So I think this is a clever approach from KM Player to get some new and old users back to their platform. They have added in app YouTube watching too. Well, what you know, cheeky bast*ards. And no one will give on some free crypto right. Not to mention you are gaining it from doing what you do everyday. I am not here to promote KM player or anything, just saying that this is a very clever approach with the ongoing trend. I do remember about Brave browser which you could potentially get some BAT awards on seeing those ads or articles or something like that which this is one of the browser who had first integrate out that wallet but only for solely for BAt but this time there are other browsers already having their own inbuilt crypto wallet.Im aint sure if these are non custodial ones or you do have the full access of its keys or not. Basing up with the current existing web wallets we do have specially Metamask and trustwallet then it would really be hard on snipping out users to make use of their dedicated wallet too but i do agree into that point about trying to hook up users once again on using up their browser. I have the Brave browser installed, but I'm not using it because I find Chrome's synchronization convenient. Thus, it's practically impossible for me to ever give up Chrome's features and switch browsers. I had tried it, however, but when I tried to synchronize my phone's browser with my computer's, it asked to connect with a Gemini or Uphold account, both of which required KYC. Moreover, if I'm not mistaken, it was also a requirement to withdraw or save your BAT to a wallet. Back to the subject now, the Opera browser often had similar services, such as a VPN, which is handy but can also be added to other browsers with a simple extension. The same thing applies to the integrated wallet, which I personally wouldn't use. |
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As much as people may claim that 2022 was a disappointing year for cryptocurrencies, I beg to differ. I'm not actively purchasing Bitcoin, but I'm saving each signature campaign payment I receive, which is pretty much the same thing. On average, I'm "purchasing" $200 worth of Bitcoin per month. The amount of Bitcoin I received in 2022 is significantly larger than in 2021. Thus, this market condition is a great opportunity to acquire as much as possible for the distant future, when we'll hopefully start seeing a recovery.
I tried with you at every payment for the signature campaign, it will not be sold but kept on hold until it can accumulate more because I believe it will be better than selling just a moment after the money can run out. If you save in every payment then this is the same as DCA every week I myself is $60 and $240 per month is enough for me to save bitcoin as an additional accumulation and while for other data with bitcoin that I bought before it is also differentiated so that the two are should go well. I'm doing exactly the same. Receiving regular payments from signature campaigns is no different than purchasing Bitcoin yourself. It's actually a great way to acquire Bitcoin if you're not willing to risk your own money. You could potentially sell the minute you receive your payment, but personally, I don't think it's worth it; holding is much more beneficial in the long-term. I'm a little away from my DCA, which is sitting at approximately $28.000 since two years ago when I started receiving signature campaign payments, which isn't too shabby. There's a decent profit margin to be made. |
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For me the best form of passive investing would be to buy an apartment and rent it out, receiving monthly rent payments would be very steady monthly income for which we can plan ahead many years.
This can be the type of model for what passive income is. It is like what investment that you does really have to show presense before making out money from it and like you made an example, real estate business is part of it because it doesn't require physical presense but the investment yield profit through the rent payment. Also for some people who don't only rely on trading, trading can be regarded as passive and other businesses you do that doesn't require your physical presense to make your profit but all you need is to make capital available and expect profit from the capital. That's more secure than buying stocks or crypto and considering it as passive income, which it really isn't. Passive income is real estate investment - rent it out and continue receiving rent until the property still operates. Crypto and stock investments are volatile, so what you're holding now doesn't guarantee you a higher or even the same value in the future. We need to understand that well. Regarding YouTube channels, I don't think it's a passive income either because eventually, more videos will be created, and your video won't be earning views anymore like it usually do, which will translate to less money. You need to be active in finding your niche and uploading related videos to earn. This means you need to put in some hard work. Some people even sell their channels and enjoy the proceeds to just travel or relax and enjoy life. One of the biggest YouTubers even declined a $1 billion deal for his YouTube channels. Here's the story. MrBeast said he turned down $1 billion deal for his YouTube channel and associated companiesMeans he knows his worth and he still enjoy what he is doing. Unfortunately, passive income isn't easily achievable and often requires large investments, such as in real estate. For example, buying an apartment or house isn't affordable, nor does it pay off in a few years by paying rent alone. I've also seen a few other users claim that Bitcoin is a form of passive income, but it's far from that. Stocks are also not a form of passive income, unless you're receiving dividends from them. Staking, however, definitely is, but there are other risks involved, such as impermanent loss. YouTube is a somewhat mixed form of income. You're actively working to create new content, but at the same time, older content is generating income. |
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I see a lot from the perspective of some beginners like me who are new to cryptocurrency.
Sometimes, some of them see the cryptocurrency world as an easy way or business to get profits or get rich quickly.
This perspective comes up because we are seeing so many people become rich because of crypto, so many people are able to get high profits from crypto trading and investment, and how many people spread and notice their accounts with huge money because of this crypto business. But, most of them don't understand and don't even want to see what kind of process that that successful crypto results have been passing. We sometimes only see the success of someone, but we don't consider what kind of obstacles and experiences they have been passing. This will not be easy for us and they may also have experienced bad things very much in this crypt business. But as long as doing good consistency with good evaluation to be much better, they finally can be successful as we think right now. But unfortunately, many newbies don't see and cosnider about this. Many newbies consider that it is very easy to be rich from crypto that is why they want instat ways. It ends up in getting scammed becuase they are easily deceived by the scammers with high profit promises. Unfortunately, if we're realistic, the majority of us won't make a fortune through cryptocurrencies. Most of us missed the train when Bitcoin was extremely affordable in the first few years of its founding, making it almost impossible to have a similar opportunity if you're starting from scratch. Personally, I'm fine with having a small side income through cryptocurrencies; becoming rich isn't one of my goals, nor is it realistic. However, as you've already mentioned, this perspective is often portrayed by the media, showing a minority of people who were clever, lucky, or both and took advantage of the earliest years. |
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And if it weren't for the merit system, this user would now be a legendary member. As much as some users may whine about ranking up, this user is the absolute example of why it's necessary. Although it's not surprising since he's only posting in bounty campaigns by spamming every bounty available, Unfortunately, managers have minimum or even no requirements for bounty hunters. Fortunately, this member will never join a signature campaign; thus, his posts are only limited to the altcoin bounty section and at least are not spamming throughout the entire forum.
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how are you going to carry all that cash around? Let's assume you withdraw even $50,000. It will have to be declared when you leave the country. If we think about 50.000 euros, it means 100 banknotes in denomination of of 500 euros. And yes, this amount should be declared when leaving the country. But if we only think about how to carry this amount, it's not too difficult to carry 100 banknotes, is it? They can easily fit inside a pocket. My point was that you will most likely be questioned by authorities on the source of those funds and you'd have to admit that they were cashed out from cryptocurrency holdings or risk an arrest, or seizure of those funds. Admitting that will of course lead to even more questions on where did you obtain the crypto from, since police deal with a ton of scammers that have a modulus operandi like that. The distribution of €500 has stopped, but even if it hadn't, spending such a large amount is almost impossible. I remember having trouble even at the gas station, which handles quite a lot of money daily. Smaller notes, such as €50 or €100 ones, would be more preferable. Bringing a ton of cash through the airport is impossible without going through customs declaration; that's why GazetaBitcoin mentioned splitting the money into a few trips. On the other hand, having a decent amount of undeclared cash doesn't help at all, because you can't actually use them for large cash purchases. Why do you think you will be questioned if you'll have this cash in your wallet? We're not talking about a suitcase full of money like they show it in movies, but a bunch of 500EUR banknotes in your wallet. Besides, you can rent a car and drive home and avoid all these security checks, customs etc. Believe me, spending 500EUR banknotes is the smallest issue you're going to face. There are so many ways to exchange it to smaller banknotes including deposit ATMs, bank branches etc. Large cash purchases is also not a problem. There are sellers and companies ready to do everything to make some profit. You can buy a $100k car with cash for example without an issue. The dealer will think of a way to do this. You certainly need to do research in which countries it's possible, in some countries you can get in trouble!  Not really. I used to work at a gas station, and we generally avoided accepting €500 bills. Their distribution has stopped, and in order to exchange them for smaller bills at a bank, you have to declare how you acquired them and actually have a bank account with them; thus, your identity is somewhat given away. Moreover, as LoyceV already mentioned, the car needs to be registered and have its value declared. No new car dealership is going to declare it for a few thousand euros when there's documentation that they've bought it for way more. Generally, everyone has the right to refuse to accept such a large bill, and as I've already mentioned, we usually didn't have the necessary change to return. |
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The human race overall is completely uneducated and ignorant. Humans are in fact my least favorite animal, as I can’t stand how lazy people are as a whole. This doesn’t surprise me what so ever as a financial advisor. I talk to thousands of people a year about finances and maybe 90% of them have absolutely no idea what any of it is all about. People are lazy, plain and simple.
Finally someone said it! The world is filled with people who think they are "smart" and if they even ever realize that they are not smart, they go with "I am street smart, not book smart" and do not accept the fact that they are stupid. I have not really faced many people who realize how ignorant and stupid they are, they keep trying to talk about things that they shouldn't even have any right to talk about. Like for example these people who took 100 dollars, I bet you if you want to talk about economics, they will give their opinion without realizing that their opinion worths as much as a garbage cans opinion, and will think it's a decent opinion. We need to educate people a lot better, A LOT better. There are plenty of similar videos that are staged; however, this scenario is highly probable, and chances are that this specific interview was actually real. Unfortunately, I've also noticed that a high percentage of young adults are completely uneducated about finances, politics, and other things that actually matter but instead care about social media and other similar meaningless stuff. We have all this technology around us, but people are getting lazier instead of taking advantage of it while remain completely uneducated for even the most basic knowledge. |
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~Snipped~
I've never heard of ATMs providing you with such small bills. The usual amounts are €20 and €50 notes. While that's somewhat convenient because smaller bills are easier to spend, it really puts off the usage of larger bills if you happen to have any. Airport control is a quite controversial subject, and you may run into trouble for carrying too much cash with you. It really depends on your luck and the occasion. Countries in Schengen, like Greece and Croatia, are free to travel between borders, so it's generally safer to carry undeclared cash. -snip-
There are multiple ways to bypass that, such as withdrawing to a Revolut account and then to your bank, but anyway. |
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Has this ever happened before? I'd assume that you'd have to accidentally come into contact with some shady mafia group over e.g. Bisq for that to even be a remote possibility.
It hasn't happened to me myself, but it has to other people. Someone here in the forum also reported about it in the german local board. Can't find the thread right now. But I can remember that he sold bitcoins for €500 and received counterfeit money. He only noticed this when he wanted to deposit the money at the bank. Unfortunately, he did not report further whether the buyer could be caught with the counterfeit money.  I know that it didn't happen to you, but what's the point of selling Bitcoin in person if you're going to deposit that money in a bank? Why go through such trouble and risk so much for such a petty amount and end up with counterfeit money that will get you in trouble? S/he could have sold through a P2P exchange with a bank transfer or even a normal exchange. Counterfeit money is quite popular among criminals and secretive deals; it's not hard to spot it among a few bills, but almost impossible if we're talking about a couple of thousand euros. |
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There's always (or at least nearly always) a motive when large companies donate large amounts of money. However, such moves are at least helping those in need, and in this case, $100 is a relatively decent amount for those who are suffering from the earthquake. Moreover, there isn't a need to judge everything, of course, and only verified users are going to receive the airdrop; otherwise, others would take advantage of it. This money is only intended for people in need, not for greedy tricksters.
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how are you going to carry all that cash around? Let's assume you withdraw even $50,000. It will have to be declared when you leave the country. If we think about 50.000 euros, it means 100 banknotes in denomination of of 500 euros. And yes, this amount should be declared when leaving the country. But if we only think about how to carry this amount, it's not too difficult to carry 100 banknotes, is it? They can easily fit inside a pocket. My point was that you will most likely be questioned by authorities on the source of those funds and you'd have to admit that they were cashed out from cryptocurrency holdings or risk an arrest, or seizure of those funds. Admitting that will of course lead to even more questions on where did you obtain the crypto from, since police deal with a ton of scammers that have a modulus operandi like that. The distribution of €500 has stopped, but even if it hadn't, spending such a large amount is almost impossible. I remember having trouble even at the gas station, which handles quite a lot of money daily. Smaller notes, such as €50 or €100 ones, would be more preferable. Bringing a ton of cash through the airport is impossible without going through customs declaration; that's why GazetaBitcoin mentioned splitting the money into a few trips. On the other hand, having a decent amount of undeclared cash doesn't help at all, because you can't actually use them for large cash purchases. |
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I'm not very familiar with lesser-known altcoins like those that have been mentioned (OSMO, EVMOS, KAVA etc.); some may provide a higher APY, but the impermanent loss risk is way higher. In my opinion, BNB offers a relatively safe investment and can be used in combination with other coins or even stablecoins, rendering it a safer investment, especially if a stablecoin such as USDT or BUSD is used. However, don't expect miracles in terms of yield; the greater the risk, the higher the APY.
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~Snipped~
Thank you for your detailed response. I really appreciate it. Going abroad is something I was already considering in an attempt to combine leisure/travel with "business" when the time is right. Unfortunately, I definitely don't have $50,000 worth of Bitcoin, though I wish I did. I mentioned that I'm not going to sell for anything less than that. Although I'd still have a decent amount of money by then, I want to have a general idea of my options. The two last options sound like a decent idea because the ATMs have relatively high fees. I'll definitely contact you if I am to proceed with any of the mentioned proposals. Thanks again. Edit: Just read your story regarding your trip from Greece to Bucharest; hilarious that they thought you look suspicious just by your flight selection. |
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You're not responsible for his actions, nor are you obligated to lend him money. If you do, you may also consider them lost. You warned him against spending all his money and taking a loan, but he chose to ignore you. We've already seen numerous threads asking whether taking a loan to buy Bitcoin is a good idea or not, and I'm pretty sure your friend is not the only one who's gotten themselves into such a mess. Never invest more than you can afford, and never take anything for granted. You may be fired, made redundant, have your salary delayed, or experience anything else that you can't currently imagine.
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~Snipped~
Thank you. You're correct; I'm looking to sell bitcoin, not withdraw. Wrong phrasing. It's actually 15% capital gains tax, unless I declare it as income since the amount was earned from scratch, in which case it's 24%, if I'm not mistaken. But honestly, you're right; I haven't thought about what I'd be doing with practically a bag of cash. Not only is it inconvenient but also dangerous, and there's also a chance to get away with it, just like you said. I could have declared them, but I didn't. Some were earned in the past, quite a few years ago, through various sources, while the rest are from signature campaigns in the past two years. ~Snipped~
Yeah, those debit cards should be fine for smaller amounts, purchases and occasional withdrawals. ~Snipped~
Thank you for your reply. Yes, regulations may be completely different in a year or two, but as LoyceV already mentioned, it may be best to withdraw through a bank since having a decent amount in cash isn't quite convenient either. |
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Excuse me, I didn't quite understand what you meant. I've accumulated this sum of bitcoin through a variety of sources. I haven't bought a single one. Theoretically, isn't this income something that should be declared? I'm talking about the whole amount of coins. What I meant is that it's only you who knows where you've got those coins from and whether it's by working for them, or mined, or you've bought them long ago when KYC was not everywhere. And I don't think that anybody would invest too much of resources to find out if your declaration is for real or it's hiding a bit of details here and there. Hence if you declare them as income then you'll probably pay income tax and if you declare them as capital gains (from 0 since you don't have receipts), then you'll pay capital gains tax. That's how I see the things. Thank you for your great explanation, which makes perfect sense. Either I declare the whole amount as income or as capital gains and pay the corresponding tax. In both cases, if I decide to go that way, I'll have to choose which one is more affordable in my case. So, OP, you're question is basically how to avoid tax and not get in trouble. You're from Greece, which means the EU, you're also not selling till $50 000 and if we start from the presumption it will be quite a bit of money I would advise you to not try even a p2p deal in cahs in Greece and this is the same for everyone else, not try it in your home nation and not in your hometown. Get a cheap flight, arrange for a p2p deal in Croatia, Romania, Bulgaria, Hungary, or whatever as close as possible because of costs, and meet there with multiple! again, multiple traders split the sums. Or you can try finding some ATMs that still have limits for like 500E till they require KYC and visit 10 of them a day, sending each transaction from a different address so they don't red flag it. And, be careful what you do with the cash after!  It doesn't matter how you accumulated it, the tax will be based on what you choose FIFO or weighted average and what proof you have you have bought that amount at x price. And no, it's still capital tax gains, it will be 15%. So if you have proof you've bought coins at $1000 and you sell at $50 000 you will pay only for how much you sell 15% of the 49k difference. Thank you for your detailed response. I appreciate it. Yes, the ideal scenario would be to avoid paying taxes and not get into trouble. Even if I could possibly find someone for a P2P in-person exchange, I'd avoid it. It sounds too risky to exchange a few thousand dollars in person. The most dominating scenario so far would be to exchange my Bitcoin into a stablecoin when the time comes, withdraw small amounts from exchanges that no one would bother with, and the rest from ATMs, cryptocurrency cards, or abroad when I get the chance. |
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Or just stay below your CGT threshold.
If you need to sell a large amount, e.g. to buy a house
In my country the threshold is 40 EUR/transaction for a total of 120 EUR/year. Between this tiny amount and the amounts needed to buy a house there are plenty of use cases for wanting to sell Bitcoin for fiat without KYC. I've started accumulating from scratch; wouldn't the whole amount get taxed since it's basically a source of income? That's why I thought it'd be 24%. You could have been mining those coins long ago. Or you could have been mining altcoins with your computer and sell for bitcoin. It's not mandatory you've actually worked for them, especially if you already have a day job... While there isn't an official tax framework for cryptocurrencies yet, withdrawing a few thousand euros to my bank account wouldn't look too good, which is my main concern. If only the bank is your concern then a crypto card may do the job, just they need KYC and you may not be able to withdraw more than 2-300 EUR/day at the ATMs. You can, however, use them for daily shopping. Just (again) yeah, they're KYC unless you go for the very "underground" anon cards AlexPCS is selling. Excuse me, I didn't quite understand what you meant. I've accumulated this sum of bitcoin through a variety of sources. I haven't bought a single one. Theoretically, isn't this income something that should be declared? I'm talking about the whole amount of coins. I'm mostly in favor of splitting some earnings between a bank deposit, others to be withdrawn at cryptocurrency ATMs, and others on a crypto card such as Binance's. Staying 100% off the radar seems impossible, unless you have someone trusted enough to meet in person, which isn't generally advisable with large amounts of money. |
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@Ultegra134, what you want is possible (for now) in a country that you might want to visit for touristic reasons  There are physical exchange offices that do not require KYC up to a certain amount, which was 2000 EUR last year, and I think they have now reduced that amount to 1000 EUR. The fee in such exchange offices is around 5%, which is not small, but still less than what you would have to pay in your country. For more details, you can always contact me via PM and I can give you more detailed instructions. I knew I had to visit you but didn't get the chance to do it this year either! Sucks. Hello, Ultegra134. We live in the same country. Could you please elaborate on why you'd get taxed by 24% (of the profit, I suppose)? As far as I'm concerned, there is no official tax framework of cryptocurrencies in Greece. Therefore, whether reporting 24% of the profit or not, it's still in the judgement of the tax collector.
I recommend you create a topic in the Greek board.
You're actually correct; it's 15% tax on declared profits. However, I haven't bought Bitcoin myself; I've started accumulating from scratch; wouldn't the whole amount get taxed since it's basically a source of income? That's why I thought it'd be 24%. While there isn't an official tax framework for cryptocurrencies yet, withdrawing a few thousand euros to my bank account wouldn't look too good, which is my main concern. |
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https://twitter.com/wokesocieties/status/1624118214136410112/^This Romanian senator says strange stuff about this incident but I can’t verify it since I don’t speak their language. If the subtitles are right, she says this earthquake was just a planned act to reduce the world population further. The official numbers right now say there are about 20k dead people but I am guessing the real number will be around 200k when the counting is over. Now I am thinking, why would a Romanian Senator lie about this? Or what is in it for her? Strange times. So you're believing that all this happened in an attempt to reduce the world population? Does this argument sound plausible and logical to you? Turkey has a population of over 80 million, yet you're claiming that reducing the world population by a few thousand would make such a difference? I find it completely disrespectful towards those suffering to come up with something so meaningless. Researchers had already warned about a possible earthquake because, as the previous poster already mentioned, Turkey is in the middle of three tectonic plates. Unfortunately, their buildings weren't up to safety standards and collapsed, taking thousands of lives with them. |
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