Questionable wealth because of Crypto

[triberensmok]

This bounty is for everyone from Marinecoin.  20,000 MTC for successful completion of promotion activities directed by artificial intelligence.  A fair distribution because it is dev-less and uses time dilution technology for fair distribution of 9 billion coins.  This will help build a strong support community.  Machine to machine iot is what the chain was designed for.  Extremely fast transaction speeds and zero fees position MTC to lead the iot industry so the coins have value already.   Find out more here   marineco.in/ico

[Sadlife]

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

[max fray]

In my particular country the authorities did nothing for me to succeed.
So the question aries: why should I pay to them when I gained some extra profit from, e.g. bying and selling those bitcoins? Was it their real achievement? Did they really help me with being better off?
In this case I would rather not paying any taxes and related fees..

[Siren]

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?

from what region you from OP?and how cruel your government pointing fingers to theyre people if they seen some wealthier happening to the lives of fellow men..i tend to disagree on this matter since crypto profiteering defies no illegal actions..dont you have human rights there?so officials can do anything they want?what about lending business it requires no tax if you lend person to person and what if in that kind of earning youve got the wealth,they will still send you to jail?thats not fair,maybe you should hide all you income from bitcoin and just spend the money little by little that thy dont have something to point on

[paras20]

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?

Their are questionable wealth because of cryptocurriencies because your going to be rich instantly but they don't know that you are gaining the money because of your knowledge and efforts every day

[doraegun]

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?

It's very simple sir, if they captured you without any reason of course that's an illegal right? try to question them what's the reason you are capturing me without any reason, and when we say it's about your wealth why you are in a good living standard now while the history of your life  is only wage earner, then you can make a positive explanation like make a Revelation about the new digital crypto currency which is not illegal that;s why you have a good living standard because of Crypro Currency. Then you try to tell then to background check of your history to make sure that you are not involve of illegal activities.  

[entrepmind23]

If you can obtain a copy of your trading or how you were able to get your cryptocurrencies then keep copies of it. You can use it when the government decides to question you about it. If what you earn in crypto is taxable then pay your taxes so that they cannot held you accountable because you did what you are supposed to do. You may have problems with your banks though because when you transfer a big amount and it is an amount that is quite questionable then the AML would be alerted so if possible, try to transfer only a low amount so that they will not be alerted. It is too bothersome to explain even if you obtained the coins in a legal way because they would find a way to suspend your account since most of them (the banks) are against it.

[zedrickjuls]

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?

Bitcoin Is not illegal,and if you became rich in bitcoin,you dont need to explain to them where your wealth came from as long as your wealth  are not comes from any illegal activities.

[boy130]

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

Which country are you from that doesn't tax crypto income? Is your income even tax-free once converted into fiat? If so, sounds like the quite the tax haven for crypto users.

As for @OP, I think so long as you keep reasonable records then nobody will question your wealth, nobody expected bitcoin to explode like it did, so I doubt they will be as thorough as they would with other income records, even if you just log your purchases, and then identify the value at that time on coinmarketcap, that will likely suffice.

[Natalim]

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

Which country are you from that doesn't tax crypto income? Is your income even tax-free once converted into fiat? If so, sounds like the quite the tax haven for crypto users.

As for @OP, I think so long as you keep reasonable records then nobody will question your wealth, nobody expected bitcoin to explode like it did, so I doubt they will be as thorough as they would with other income records, even if you just log your purchases, and then identify the value at that time on coinmarketcap, that will likely suffice.

There is no regulation yet on crypto in some countries so people who are earning can really enjoy their entire profit.
But, the sooner the government sees the demand of crypto and the money going in and out, they will surely tax those people who are earning, one
county I know that does not tax bitcoin is the Philippines.

[maaydin]

if what you are saying is true and because of questionable wealth you will go to jail even without proofs than if you become rich go and live in another country immediately

[fishball]

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?

The mere fact that you do not harm people and you are earning in a good way should put them to stop their accusations. Just like others said, you don't need to explain yourself, let them know what is bitcoin and how it works.

[mylyn2327]

Bitcoin/crypto currencies are very popular now, if I become rich because of them, no need to be afraid there's nothing to explain to anyone as long as you don't do any illegal things. If they questions you, be it, they will not send you to jail without any concrete evidence. If you don't want it to happen then stay on low profile, there's no need to shout to world that you are now rich, stay humble.

[buggy]

As long as you know very well that your earning comes from a descent and a good source why they will going to question about your wealth. Number one to question this is the government, if what is being due to the government then pay your taxes so that they will close their mouth and hoping that the taxes area being paid will goes to the right place and right project for the good of the people.

[redsap]

i think it can't being questionable for what we earn from it, we know bitcoin price are so high
we just like store some value of asset and we sell it when it comes high, it just same that you have a really good property and sell it when it profitable

[Saveralll]

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?

Bitcoin Is not illegal,and if you became rich in bitcoin,you dont need to explain to them where your wealth came from as long as your wealth  are not comes from any illegal activities.

it's better to explain to those who ask than it will even make you unpopular by the person. we should not be stingy and arrogant if we have become rich because we used to come from the poor.

[knightmairesaint]

I have a bitcoin wallet that is regulated by our government if ever i get questioned about being instant rich i would present this as evidence that i earn my money through bitcoin whenever i get wealthy with it. I have no problem paying taxes in fiat but our government has no laws about taxing bitcoin users. So i wont.

Which country are you from that doesn't tax crypto income? Is your income even tax-free once converted into fiat? If so, sounds like the quite the tax haven for crypto users.

As for @OP, I think so long as you keep reasonable records then nobody will question your wealth, nobody expected bitcoin to explode like it did, so I doubt they will be as thorough as they would with other income records, even if you just log your purchases, and then identify the value at that time on coinmarketcap, that will likely suffice.

I remember my professor asking about cryptos and then saying that we are somehow being unfair because we are earning cryptos without tax. My classmates who are also earning cryptos and my faces are saying like "WHAT?" How come we are being unfair? We are just students who saw the opportunity in bitcoin and cryptos in helping us financially as well as our family. We asked him "Why?" and he told us because we are earning money without paying taxes. One of us speak out that it is not true that we aren't paying tax because we pay fees with TAX whenever we converted into fiat. Converting into fiat, Cash-in/Cash-out options and etc. we are also paying tax whenever we used their SERVICES.

For me, there is nothing unfair with that. That time, I was also thinking that maybe this person is jealous because we might be earning and WE CAN earn money bigger than his salaries.

[feny.blackpink]

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?

It is same as peoples who trading on stocks, they can be rich if they are lucky.
just explain that you was trading and got profit from it because the price was spiked.

[lesinset]

Primarily, they will just make you pay taxes for earning a lit from bitcoin. That's what most countries do now a days.

[ipbitrung01]

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?

The fact is that BTC is a new market and many people are skeptical. If one day you become rich because of BTC and they suspect you are illegal, you do not need to worry too much. Because BTC market has become strong and recognized by many world powers. The authorities in your area should carefully study the law before making a decision.