What to do with our new found wealth???

[pallang]

We consider Bitcoin as our new found wealth and we must share it to others and introduce them the advantages of having Bitcoin as a living and we must also thank god because he introduces Bitcoin to us

[1715072588]

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[1715072588]

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[thecoder2017]

I believe that Bitcoin is our new found wealth because many people are very thankful to bitcoins because when they learn about it and they join the campaigns it helps them in their everyday living and they consider it as a blessing

[randal9]

our new wealth can be used for many good purposes...firstly to realize our desires, secondly to take care of the needy and also to continue investing in order to be confident in our future

[sampalokmix]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Well I can only say that this is just a wonderful and blessing per se system wherein we are one of the early workers who discovered it, and one of the best things that we can do is strive harder here so we can be profitable in every way we can.

[superjeyy]

I do understand your situation. Being under a government who's goal seems to be burdening their citizens with heavy taxations can be quite overwhelming. You don't get to enjoy the fruit of your labor because what you receive at the end of the day would be less than what you're truly worth it to have. I guess I myself invested in Bitcoins because I know that what I gain here, I will receive fully without any tax, without any other aspects hindering me from enjoying it.

With regards to staying low key in converting your Bitcoins back to cash, I guess the easiest way is to do it partially at a time. The government will have their hands on something they can benefit from quickly. So I suggest that you only cash out what you need and do it at a timely basis. I think this can be quite tedious, but at least you won't attract the government with your actions and with your money.

[Feuerbach]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Is the idea of crypto not to be anonymous - Yes.
In my country you can transfer a certain amount of money to a bank card and at the same time remain unnoticed by financial monitoring. Also you can order an offshore card

[Kingofbitcoin12345]

Sad but true,, even we ourselves are law abiding citizens of our homeland the government officials with obvious corruption problem makes as a worst person.. We committed tax evasion for a reason that is valid because we don’t trust the one on power.. Even I have the same sentiments with Op,, I live in a country that corruption is widely known but hopefully would change soon.. If I were in that scenario,, divided bitcoin profit of millions to my love ones bitcoin wallet is the fastes and safest thing to do..

[trecore4]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.


So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.


Added, I stay in a corrupt country where large scale government corruption is the norm.


Any help will be appreciated.


PS: Is the idea of crypto not to be anonymous.

I think I know from where are you and I think we are form the same country as well. Lolz.


I have same concerns and I have solution for this one. No I'm not having million but I might be getting one soon. So the thing is, we can either file the IT returns at financial year end along with the transaction of bitcoin conversion to fiat under some business or under some online income source. Check under which circumstances you are free from the tax payment slot and if you see that viable way then just the income coming from that way.


There are many ways you can hide the wealth you get from online but I'm advising you that you should show at least 50% of that income via tax payments. You will be off the under radar surely. 

[jaysabi]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

So you're asking for advice on how to launder money so you don't have to pay taxes on your financial gain? Seems like a smart and totally legit thing to do! Take your windfall and go legit, pay your taxes or risk jail. The trade off there isn't exactly equal. Any exchange not keeping financial records is not an exchange trustworthy enough to use. Trying to structure your transactions to avoid any type of reporting requirement is going to lead you down a bad path.

[aoihs00]

Nothing man, just do it the normal. Take the money out and pay the taxes. If you do that then you are safe and ready to move to next trade. If you earning that much money then obviously it will be noticed by the government immediately once you cash it out into the bank as fiat currency. This is serious matter on the frontline and you should never skip it.


If you keep it white business then government will keep it straight for you as well. What will happen max? You will 10/20/30% of the slot depending upon the money you have got. Nothing hides so just don’t try to hide and keep it growing.

[Quidat]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

So you're asking for advice on how to launder money so you don't have to pay taxes on your financial gain? Seems like a smart and totally legit thing to do! Take your windfall and go legit, pay your taxes or risk jail. The trade off there isn't exactly equal. Any exchange not keeping financial records is not an exchange trustworthy enough to use. Trying to structure your transactions to avoid any type of reporting requirement is going to lead you down a bad path.

Not all people who do ask regarding big transactions doesnt mean that they are already money launderer or evading tax but just have the worry on taking them out specially on bulk amounts. Knowing that money cant be only be gained on those ways but also we can possibly make large sums on trading or just by simply holding an altcoin and being pumped up x1000 or even more.In my situation if i do have this case better to take it out gradually.

[bling-bling]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

If you have some kind of money transfer establishments in your country that are affiliated with your wallet as cash out option, I think this would be safer compared to bank deposits. Coz these establishments almost has nothing to do with the government since they are private. So you can check that out...

[Dodoymabs]

Well if you made millions and wanna sneak it ... Without notice of any government official..then I would recommend i split it in parts... Send it to trustable people..and remember this the .. problem only arrises when you go forward to encash it !
Thus.. send it to trustable people and... Encash the amount that for government isn't taxable..

And do this over a period..of...time and I don't think there will be any problems with this..

Because encashing is the whole trouble nothing else...

I agree with this friend who wrote this opinion above. Of course, that's a good strategy in order for us to still have our own wealth without the government noticing it because we might be taxed because we have bigger amount of money that we own. So we need to split it by putting it in different banks for example, or put it in another name so our will not be as big as the intact wealth we have in one bank.

Splitting millions of money nowadays is much easier compared in the past because of our new develop cryptocurrency. This is the power of the blockchain technology which protects the identity of the user, so I suggest that you can please your friends or relatives for help to split your money thru making digital wallet so that your money will be divided depending on how many you can count on.

[Pasaway2701]

our new wealth can be used for many good purposes...firstly to realize our desires, secondly to take care of the needy and also to continue investing in order to be confident in our future

We must use it in good ways. Proper handling of wealth we have and sharing the idea to others in that we can help each other to change life and the way we live. Have enough investment and keep it for the future use and future gain. The price is good enough to hold because it has more increase day by day that can give more profit to everyone.

[AtheistAKASaneBrain]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Every country has their own norms on money laundering. Like in my country, if I get 1 million (around 15.5k USD) in my local currency, my bank will immediately report that transaction to the government. Similarly your country may also have some kind of cap on the maximum amount of transactions. Find that amount and make a transfer below that cap. However, then also there will be a chance to get reported to the government if your previous earning pattern doesn't match with your current transfer.

So, instead of making a huge transfer to your account, make small transfers every month as per your requirement. That's what I do. I make small transfer every month to my bank account and use it for investment. That way you will be safe from the regulators.

This is useless if you want to buy anything meaningful, mostly real estate. If you want to buy a nice $500,000 house, you can't expect to ever go under the radar. So there's no way out but to pay your taxes. You can stay under the radar if you get $300 bucks out a month or so to help at home with paying bills, but forget about going higher, and again let alone real estate purchases.

If you want a house, you must pay the taxes, there's not a single decent country on the planet that will you do otherwise, that's why you must try to keep a track record of the origin of your bitcoins, because you must be able to prove you obtained them legally, otherwise they will take them from you and you will never be able to buy real estate.

[setupbounds]

our new wealth can be used for many good purposes...firstly to realize our desires, secondly to take care of the needy and also to continue investing in order to be confident in our future

There are lots of things one can do with their newly found wealth m, and for me? I’m looking forward to venturing more into electronics, cause that has been my family business.

So I plan to expand it to a whole new level. Another thing that draws my interest is farming– Seriously I believe one can make a lot of money if they buy a huge plot of land and start up a farming business with it. I have seen lots of people who became millionaires by becoming farmers.

[gabmen]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Keep some of your money in a hard wallret. At the same time make several investments instead of putting your money in a bank. Or open up a few bank accts from different banks just to keep your money scattered

[Thanasis]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

Bitcoin is popular for its anonymity so no one can track our transactions but currently we can't use raw bitcoin for everything so we need to convert it into fiat for our needs.So we can sell our bitcoins in some exchanges to get fiat but we need to pay some taxes if we are converting a big amount of money,because banking transactions are limited in all countries.If you dont want to pay the taxes you can open an business class banking account so the limits will be increased.

But I am suggesting keep your bitcoins as it is because in future we don't need to convert into fiat we can pay everything through bitcoins so convert only little amount of bitcoins into fiat.

[coinplus]

I'm currently investigating how to stay under the radar with regards to the profits made from crypto.

So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.

Added, I stay in a corrupt country where large scale government corruption is the norm.

Any help will be appreciated.

PS: Is the idea of crypto not to be anonymous.

I am sure even the government of every world now should be aware of the new wealth being created. Unless you do not want to create unnecessary attention to yourself, as long as you know you can state the source of your wealth even when converting to fiat, then you should not have any problem.

However, things are changing and over time, you should be able to do huge transactions with bitcoin without having to convert into fiat. That is the essence anyway; after all, I bought a house in an estate recently with bitcoin. So, imagine having more of that.

[ashfer]

As you said like if you have made millions using btc try to cash it in your own family members accounts rather than trusting on friends or outsiders.Its better not to cash everything as it will result in getting huge amount as tax or try to cash the amount in the bank account which is away from your home country so that you don't have to pay huge tax.There are several other options so that you don't get tax that is by withdrawing it as small units of cash or start a business or split your investments.