sicnarfkswiss (OP)
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March 16, 2018, 09:28:13 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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jseverson
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March 16, 2018, 09:32:57 AM |
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You pay taxes for your Bitcoin earnings. That way you have a paper trail for your wealth and they can't accuse you of anything illegal. You should be paying your taxes correctly anyway.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
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natalagerman95
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March 16, 2018, 09:37:48 AM |
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I do not think that they are so paranoid and will all blame for the fact that this is illegal. Everything is fine and will pass as it costs the candles legally and independently of the higher observers.
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investorss
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March 16, 2018, 09:40:20 AM |
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you do not need to explain anything to them, you do not really need to show everything to the show)) and if you have to tell them how you became rich, tell the truth, they know it, they will soon say everything and pay taxes, but if they say that bitcoin is not legitimate, then I'd just gave them nothing))
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wantjokull
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March 16, 2018, 09:44:45 AM |
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You pay taxes for your Bitcoin earnings. That way you have a paper trail for your wealth and they can't accuse you of anything illegal. You should be paying your taxes correctly anyway.
I don't know where you're from but can they really send you to jail without conclusive evidence of wrongdoing? I mean, I would understand if sudden riches is enough of a flag to get you accused of tax evasion, but wouldn't they have to prove that first? If they did turn out to be right, then you have a problem on your hands.
This explains everything quite simply. I mean there is no way we should be afraid of getting rich and if it is completely legal way then we have to worry about nothing.  Plus im not sure if government really puts you in the jail without any evidences or not but that would be illegal to do so without any evidence. Lol. That simply means your government is corrupt and it want brine from you and nothing else. Also if you are getting rich enough then im sure with the all money you have earned you can take care of your legal activities by paying various people like legal authorities, tax department etc.  |
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lionheart89
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March 16, 2018, 09:44:58 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
we do not need to explain to the government how bitcoin owners can become rich because the government already knows about bitcoin. What needs to be explained is the people around us because of course they will ask where our wealth comes from. |
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basobulat
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March 16, 2018, 09:48:28 AM |
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Well, this is a very important role is knowledge and experience of course.
if one day there is a state party, which deals with taxation and asks you. you can prove with proof that you have done so far. this is very important, because in the bitcoin and crypto system has a clear transparency can be proved. so knowledge is important for everything.
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Ctn
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March 16, 2018, 09:49:52 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
They will think like that if you are not making tax filing properly and without any concrete proof of your earnings. If you follow the proper taxation then it will include lot many things like : 1) Giving proofs of income sources. 2) Transaction slips if the transactions are big one. 3) Proof of investment into trades, gambling, lending programs and mutual funds etc All these can become your proof of income and if you submit it then im sure there is no government in the world who will ask you any further question about it. Its better to keep your portfolio completely white and make proper way through paper trail. |
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eternalgloom
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March 16, 2018, 09:51:08 AM |
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If you just pay your taxes, you should have nothing to fear. Most people think the IRS is something that's out there bto get them and put them in jail, this is not true.
The only thing the IRS cares about is getting its money. Even if you can't pay straight away they'll help you set up a payment plan etc.
Why would the government put you in jail, just for becoming rich? It's more taxes for them... Stop reading conspiracy theories, I would say :p
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YuginKadoya
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March 16, 2018, 09:56:41 AM |
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Not only the government had a questionable issues regarding the people that become wealthy because of Cryptocurrency even the banks that are accepting exchange towards fiat had a multiple verification and question on where did they get that kind of amount of money and sometimes would want to know what type of business we crypto investors have, I really think this is for security and safety reasons and regarding sometimes illegal whereabouts of the money criminals are possessing.
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genset88
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March 16, 2018, 10:17:05 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
Yes, the governments in the countries are very interested in who gets rich quickly where I live if a bank detects a person's account with the money rising swiftly. And they are going to investigate and ask how the money is earned and whether it violates the law of the government. |
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JerryJam
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March 16, 2018, 10:37:35 AM |
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If in Your country there is no criminal penalty for cryptocurrency transactions, the prison does not threaten you. In some States there is criminal responsibility. And the term of imprisonment is up to 12 years.If suddenly regulatory authorities find out that you suddenly become rich you will have to pay tax. And pay a big fine. Remember what the outcome of their activities al Capone. He was put in jail for tax evasion.
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Mpamaegbu
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Once a man, twice a child!
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March 16, 2018, 10:39:14 AM |
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What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich?
Get rich first before thinking what your defence will be.  Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth
Honestly, I have often given this scenario a second thought knowing fully well how massive the gains from cryptocurrency can be if one is right with timely decision of picking a profitable trade or crypto. I shudder at the result. But then we shouldn't deny ourselves such wealth because of what people may say. |
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BitHodler
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March 16, 2018, 11:12:37 AM |
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where I live if a bank detects a person's account with the money rising swiftly. And they are going to investigate and ask how the money is earned and whether it violates the law of the government.
That's why it is important to have several bank accounts, and to exactly know what the trigger point of each bank is. I found out that my current bank has a trigger point of €10,000 per month, and €5000 per incoming deposit. As long as you remain below these trigger points, the bank will **likely** not start an investigation and demand for proof of funds. The only thing is that they can change their terms at any time. If you just blindly assume that these trigger points are still valid, while in reality they have been lowered, you'll have some explaining to do afterwards. That's why it's better to read their terms carefully before depositing money. |
BSV is not the real Bcash. Bcash is the real Bcash.
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bitfocus
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March 16, 2018, 11:21:38 AM |
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if you pay your taxes and keep your earnings clear, no one, no any government can accuse you.
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jona
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March 16, 2018, 11:46:55 AM |
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For sure they will believe,this is through your local bank that is buying your Bitcoin from you,they are the ones paying into your local bank and you will be investigated from there
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marjil
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March 16, 2018, 11:56:42 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
How are you planning to explain your wealth to your government? Have they asked you any questions? Do you think they will in the future? How much money do you think you will make from bitcoin? Why do you think they won't believe you if you tell the truth? I can't really see any problem. You just declare your profits like you do with any business. I don't see that making money from bitcoin is any different. You may need to pay tax on your profits and they would be happy with that. |
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Kurokyy
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LETS GO ADAB
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March 16, 2018, 11:56:54 AM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
You don't need to tell anyone that you are now rich because of crypto, dont be afraid because you are not doing anything illegal. If someday you become rich, then the government questioned you, just settle and pay your tax of your earning. Just simple as that. |
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kumar jabodah
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March 16, 2018, 11:57:06 AM |
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It's easy to say that it comes from Investment in Bitcoins. Your only case is the non-payment of taxes that you will not be detained if you pay them.
We must not be afraid, because we are doing the right thing. But we must also obey the law so we have no problem to deal with.
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Traslavin
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March 16, 2018, 12:01:11 PM |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
we do not need to explain to the government how bitcoin owners can become rich because the government already knows about bitcoin. What needs to be explained is the people around us because of course they will ask where our wealth comes from. We'll for me I rather to keep silent for now and keep on a low profile so that they wouldn't get confused about the what they called questionable wealth because of bitcoin. I would still keep quite and wait till our society knows about bitcoin and besides our government already knows about bitcoin so yes I would never bother to explain my source of income to them. |
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