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How about removing government?
The people asking for bribes, they're all government officials. So no government, no more corruption.
Anarchy is the solution.
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Do they agree on what to do? France and Germany are quite often partners, but some other times there aren't. There are no done deals in international regulations. A few countries like South Korea is going forward on cryptocurrencies regulation, but I doubt there could be many countries agreeing on a shared regulation. It would take years before anything becomes law...
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There's absolutely no fraud in using a VPN. You could get the same result by traveling abroad, but there could be a fraud if falsify your identity, your address or your citizenship.
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A substantial number of people who have invested in BTC and altcoins are anarchists. They won't touch ever any national cryptocurrency. I understand it could raise cryptocurrency interest though, but only at a local level. Nobody outside Russia wants rubles, and nobody outside Russia will want a Russian cryptocurrency, so the whole thing is doomed. It will only make BTC stronger, because it is the real cryptocurrency, safe from any government's actions.
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Sure. The bank also said that his employees shall not travel to Riga to visit brothels, that they shall not use dope, that they shall not drink anything with alcohol, that they shall go to bed at 9, and not forget to brush their teeth.
What a bunch of morons!
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Don't expect much. At this time, there's only the proposal to talk about making a regulation... And the G20 has more urgent problems...
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I live in Sweden now and have no plans for living here much longer anyway. This coountry is turning to a totalt mess..so sad.. . My plan is to live here just a couple of years more. Im seeking for a country that is SAFE, cheap living and good climate.
If i move to lets say Spain or Italy and would like to sell all my cryptos. Will it be any problems when my account is created with a swedish id?
any suggestions for countrys to move to?
Well, you need a plan. My suggestion would be not to move your cryptos to the country you will live. Open a bank account in a third country where you will not live. You will just have a bank account and a mailbox there, only moving some money to the place where you live when needed. |
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How much can Bitcoin evolve? I don't believe there's a limit. BTC will evolve as much as it is necessary, to get faster, to make transactions cheaper, and to get bigger to allow more transactions. A better question in my mind would be: How fast can BTC evolve? This is where we have a problem... Since some alts just have a few guys with a couple computers behind them, they can make upgrades much faster than BTC which needs to convince many stakeholders to change. |
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You may open a bank account in Montenegro (no AEOI), but I still haven't found an exchange which accepts customers from there.
And what happens when an exchange denies your fiat withdrawal because your personal details (ID and utility bill) don't match your foreign bank account in country based terms? I too have been looking at opening a bank account outside my own country myself, and that's pretty much my only concern. In my case the tax rates aren't as high as OP has described his tax rates to be, but they are still steep. Profit over my trades are subject to a 20% tax cut (if declared), and I find that to be ridiculous. If it was just a few percent, it was all fine and people wouldn't need to look for creative alternative routes of cashing out. Wrong way of thinking. You shall think about leaving your own country, and moving to another country where tax is lower. If you're not ready to do that, you'll have to pay tax... You may open a bank account in Montenegro (no AEOI), but I still haven't found an exchange which accepts customers from there.
Transfering funds to a bank account located in Montenegro is not really a problem. The problem is what about if in 6 months or 1 year the country is added to the list, we're screwed. The list is huge; surprisingly the USA is not in.  You have the choice. The best option is to change your tax residency, and Montenegro is a good choice, with a 9% income tax, or you can transfer your money again to another non AEOI country. Actually, this doesn't happen overnight. If Montenegro joins AEOI, something most people expects considering it wants to join the EU, it will be officially announced, and then it will be months before it's effective. |
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Great news! A central banker publicly admits that is powerless in front of BTC.
It's about time, the people are taking back the power which belongs to them.
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You may open a bank account in Montenegro (no AEOI), but I still haven't found an exchange which accepts customers from there.
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I still don't understand why some people use hardware wallets.
I have a laptop, a smartphone and an USB-key on my key-ring.
Nobody has ever asked me anything about BTC, at airports nor on the road. I don't count border crossings, but I've been in 14 different countries last year.
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Of course BTC transactions could be taxed. In plenty of countries, properties, cars or gold transactions are taxed so it could happen to BTC too. The good thing is that there are many countries on this planet. If there's too much tax somewhere, you can always move elsewhere.
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Yes, I'd be happy to use such a service. Please open shop anywhere in Europe and I'll come to visit you. Just don't ask any questions. I'll give one BTC and you will give me some fresh bank notes.
Too bad I'm dreaming...
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Nearly anyone in the EU fills a tax form once a year, and it's the same document for BTC profits, which are materialized when exchanged with local fiat currency.
You just need to ask where in that form you shall add "exceptional income" or "capital gains".
An example, now.
If you bought BTC for €1,000 in 2013, you may have €50,000 now, so you will declare €49,000. If the tax rate is %30, you will have to pay €14,700. It might be less than that if you've kept your investment for more than a year, but you must look for info in your country. I believe very few people here are familiar with the Slovakian tax system.
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Another proof that you shall not keep your cryptos at an exchange.
Still, that is sad. I've been trading BTC and alts on Bitfinex and Poloniex for months, and it's a great trading place. There are lots of trades, more than enough to make a successful and profitable company. Bitfinex managers should be happy with that single business.
So I hope that if tether crashes, Bitfinex will keep on going as a trading place.
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If you have many BTC, you can afford to travel, don't you?
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Did you open your Poloniex account, and made a deposit before entering the US?
When do you plan to withdraw your cryptocurrencies from Poloniex and exchange them into fiat money? If you make the withdrawal after leaving the US, you won't have to pay any capital gains tax in that country.
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The article is highly misleading. It doesn't give any explanation on how they calculated that. It looks crazy to me because they don't talk about the electricity to mine one BTC but the electricity to process one transaction, which is hugely variable. The electricity needed to mine one BTC depends on the number of computers mining. The electricity needed to process one transaction depends of the size of the transaction, and the number of transactions in one given block. As they say on cars, your mileage may vary.
I wish we'd have some data about Google. I'm sure Google' servers consume much more electricity than all miners combined. And note that it's only BTC haters who complain about electricity consumption.
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