Questionable wealth because of Crypto

[PureLove]

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[batang_bitcoin]

Just declare your income so that you are taxable. That's how the government becomes hot to those people that are becoming instantly rich because they never declare their source of income. They are thinking that you are doing something illegal but if you will go with the normal process, declaring your profit, your nature of business / source of income then you are safe.

[GalaxyWorld]

right . Because I have some friends who are naturally rich in two months. And everyone suspects that my friends have smuggled so fast. And people do not know that my friend is investing in bitcoin.

[Mia_pikachu]

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?

maybe the government will not be able to know our wealth if there is no party reporting, when you are rich sometimes neighbors and friends or people who dislike your wealth and they finally report it, yes it is rather difficult to explain to the government about bitcoin, but now the possibility of local authorities already know about bitcoin.

[13abyknight]

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?

Tell the authorities that it was a result of patience, perseverance and your stern determination to HODL for a very long time despite of the many factors which questioned the sustainability of Bitcoin price over the years. There are already so many early adopters who have turned into millionaires and subject to questioning from the authorities of their respective countries but surely would've gotten the benefit of the doubt after having shown proof of early investments.

[buburjelly]

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?

If the government in your country buys and receives bitcoin then the government's suspicions will not lead to illegal acts of activity. However, when the orders in the country assume that bitcoin is a way to engage in illegal activities such as money laundering, terrorist financing, etc. Then the government's suspicion of you over what you are saying will be a major accusation when you gain wealth through bitcoin. Hopefully, this will never happen to anyone and I expect you to be calm because your identity in transactions using bitcoin and blockchain technology cannot be tracked by any party.

[codpku]

Just like me i got bitcoin just from the bounty campaign so if you explain to the cop that you get bitcoin from bounty campaign lot bounty campaign that make you rich right now
So they will not asking about that anymore

[Cofee.BLUE]

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.

In other hand, it is better to stay in a low profile because it helps you so much in a way of securing and protecting yourself in other people. But in that scenario that one government do put one person in a jail because of becoming rich that's really unjustice. We as a person, we have the right to do whatever we want just to have a better life because we on ourself are responsible in what will be our life in the future no one has the right to judge or give us punishment without any basis or proof that we are doing wrong. We have the right to fight for our self.

[boy130]

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?

I'm not sure which country you live in that would convict somebody for having questionable wealth. There are hundreds of ways a person can become wealthy in non-traditional ways, that would be difficult to determine if looking through your tax records or receipt books, e.g. Gambling, sports wins, local competitions, freelance work etc.

If you get rich through crypto, just make sure you keep a detailed log of your transactions and profit and you will be fine. But I would seriously consider leaving that country if that's how things work (which they probably don't).

[Mariela]

Well that thing is very serious and we need to be take care our steps. Because of unlegalizing of bitcoin in our country this is one of the threat on a unlawful act.
We need to discuss to them and lieve that our money is from bitcoin.

[gwapo.zylle]

Well other people questions and it becomes a big deal for them. But if other knew what was going on for sure they will amaze what bitcoin can do in peoples life. You cannot judge anyone because you are not oblidge to do so but you can gather information how it become like that. I do believe that many people become wealthy because of bitcoin and no question about it. If you know how to strive to have a better life you will be like them and go on.

[Dudeperfect]

I don't think that there will be any action from government site if the person is paying taxes as per his eligibility and jurisdiction. Crypto is in the grey area right now and thus I am not expecting any harsh action from the legal authorities as of now. I am talking about general users and not the users for using Bitcoin for illegal activities or tax evasion purpose. I am sure that most of the governments will try to regulate Bitcoin instead of completely banning it

[mashedtasks6]

Simply I don't know because I am not good at explaining LOL

[1BTC EQUALS 1CAR]

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?

That is also in my mind. Authorities who implant drugs just to extort rich businessmen is very common here in my place so I feel scared that it could happen to me.

[Bustart]

You cant anymore become rich with bitcoin because the price is very high right now so in order to make a lot of profit you need to invest a lot of money

Crypto is a doorway for the well-being of society and success for everyone who believes in it. It takes a lot of patience, perseverance, and positivity when you're part of crypto family. It's never easy, living in a world of uncertainties, we have to be strategic and look for ways to earn and gain decently. I think if you work hard and sacrifice for it, and you do what is right then it's never questionable.

[zhea]

Well, there will be no worries if we will pay the right taxes to the government, and this is the right thing to do to avoid questionable wealth. Government is already aware with bitcoin its not new to them that earning here is good and there are possibilities that people who are engage with bitcoin become wealthy. They become what they are right now because of their hard work and determination to reach what they want in life. As long as we clearly know our responsibilities as a good citizen, what is due to the government is due to them nothing to worry about our wealth.

[automail]

I think the best way for you is to let them know about your bitcoin earnings and start paying taxes. I know you will lose a lot of money by doing this but its much better than going to  jail. Its a bad experience for anyone to spend one night in jail without doing anything. It feels like you were caged or something. Do every means to avoid that and just tell the truth. I'm sure they will understand and let you go.

[bossloccox]

I think the government can't do that instantly with their people. At first, they can do some background check on the nature of your lifestyle. Why you suddenly get rich. Maybe when they find out that your wealth is from bitcoin and other digital currencies . Perhaps, they will only give you some papers to pay a proper tax to the government to avoid accusations about your questionable wealth. So that, they can not sue you any case in the future. And no one can not accused you of doing illegal activities because of that wealth....

[mrbamboo]

In a survey of 10 countries in Asia, six countries concur with systematic Cryptocurrency management. The remaining countries are quite cautious on this issue. For those countries that have not accepted Cryptocurrency yet, the income from Cryptocurrency is questionable. When finalizing the legal framework for Cryptocurrency, you will pay taxes to the State from your personal income. At the same time, you do not have to worry about legal issues with the work you are doing with regards to Cryptocurrency. You can improve the quality of your life and at the same time fulfill your individual obligations to your country. Meaningful.
The problem is time.

[Argoo]

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?

In my opinion, in any country, government agencies must prove the illegality of sources of wealth, and not you have to prove that your money you earned honestly. You just have to specify this source, that is, in this case it will be a deal with crypto currency. If in your country the crypto currency is not legalized yet, however, it is not forbidden, then you have nothing to fear. As a general rule, everything in business is not prohibited, has the right to use. If in your country circulation of the crypto currency is already settled, it is necessary to find out whether the taxation is established on the profit from operations with the crypto currency and pay the corresponding taxes. Then, I think, all problems will be lifted.