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Author Topic: Please DON'T pay any taxes on your crypto!  (Read 21264 times)
poptok1
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January 26, 2019, 12:15:58 PM
 #21

Your post shows the ignorance -snip-

“Disobedience is the true foundation of liberty. The obedient must be slaves.”
― Henry David Thoreau

I don't think he was purposely ignorant, those are just views of somebody that was given a chance to have and make them in to reality. That was the whole point of crypto wasn't it? To give us true financial independence. No one can be ostracized for utilizing that built in feature of cryptocurrency's technology.

“Quod timet servit.” (those in fear are slaves)
―Seneca the Younger

This brave fellow is just saying what you all* are only dreaming of!
Some members above already have implied and actively called for group responsibility...
You know that this is one way ticket, one way ticket to world totalitarian government, called nwo.


 
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January 26, 2019, 12:30:38 PM
 #22

More and more countries, like Chile or India, are trying to tax their citizen for the crypto they hold.

Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.

It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that Wink

Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's  encrypted with password  ( uhm.... have you set the password protection on your wallet... right? Wink ).

Of course you are not going to give them the wallet password.

Oh.. they tell you that you withdrawn the coins from an exchange,  so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange,  not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?

P.S. for the geeks: use Veracrypt Wink

I partially agree with what you say. Countries cannot demand tax from anybody without a legal arrangement. After that, taxation will not be easy. Because cryptocurrencies are in a structure that cannot be traced. So when you determine how much money you have is not easy. Especially when the global crypto money exchanges are active.
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January 26, 2019, 01:05:43 PM
 #23


Do you mean people that work outside and pay tax all the time are ignorant ? Yes they are maybe only if the leader of their country is corrupt but if you are sure that the president or the governant on your country is legit then your doing a good job because your helping your place to develop .  on crypto we arent paying a tax here but tx fees are more than just a tax so i think thats already enough .
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January 26, 2019, 01:48:27 PM
 #24

I don't want to be in jail tho,but the fact you said maybe right no one can find which coins you were holding but every citizen need to pay taxes so if you are a good man then you will do it.If we completely move to crypto to crypto transaction then it is much difficult for a government to ask for taxes so consider about it as well.

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January 26, 2019, 02:00:20 PM
 #25

If you violate the laws in your own countries, this can lead to bad consequences. I advise you to pay taxes if the state legalizes cryptocurrency

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January 26, 2019, 02:19:02 PM
 #26

If your jurisdiction or the law of your country tells you to pay taxes on your crypto currency gains, then you should. If you hide your gains (that is not report them) and try to avoid taxes, then you are actually breaking the law of the country and you deserve to get punished. How long do you think you will be able to hide yourself and escape from those taxes? You will eventually get caught.


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January 26, 2019, 02:21:27 PM
 #27

More and more countries, like Chile or India, are trying to tax their citizen for the crypto they hold.

Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.

It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that Wink

Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's  encrypted with password  ( uhm.... have you set the password protection on your wallet... right? Wink ).

Of course you are not going to give them the wallet password.

Oh.. they tell you that you withdrawn the coins from an exchange,  so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange,  not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?

P.S. for the geeks: use Veracrypt Wink

It's good advice if you just hold crypto in the wallet.
But, what if you need some money and withdraw some of the funds (after exchange) to your bank account?
Authorities will see your unreported income and punish you if you don't report it and pay taxes.
Please don't give advice which can bring legal problems to others.
IN my country is already very strict law about crypto and taxes.

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January 26, 2019, 02:23:19 PM
 #28

What's been mentioned in the Op is true. Government try to profit out of the cryptocurrencies. Governments just want money, they doesn't want the good in it. Already there are countries like Israel that has got its taxation on bitcoin. They've added bitcoin along with the gold and other commodities. Upon the holdings one has got they're asked to pay taxes, but this isn't that effective as governments cannot trace the holdings of cryptocurrency belonging to a person.




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aris av
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January 26, 2019, 02:25:00 PM
 #29

I think it's better to follow the rules, and for certain countries that have applied crypto taxes, there's nothing wrong with obeying the rules for paying taxes, and I think it's better than having to deal with the law.

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January 26, 2019, 02:26:50 PM
 #30

If you damage the laws in your nations, this can prompt terrible results. I encourage you to make good on regulatory expenses if the state legitimizes cryptographic money. In the event that you abuse the laws in your nations, this can prompt awful outcomes.
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January 26, 2019, 02:27:07 PM
 #31

Are you kidding? I don't think what you said was smart, actually, if this action really happens, government might ban cryptocurrency more strictly, it's not good for crypto's development. Otherwise, cryptocurrencies are asked to pay taxes, personally speaking, it means government's admission for it.
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January 26, 2019, 03:53:18 PM
 #32

I think  in my country within the next few years all domestic exchanges will have to submit all user transactions to the government.
All domestic exchanges need KYC, and when exchanging crypto to fiat we need to use a domestic exchange.
In other words, the government will be able to easily know the benefits of our trades and it will be impossible to avoid taxes.

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January 26, 2019, 04:07:19 PM
 #33

That would definitely become task evasion. If unfortunately you turn out to be in a country where cryptocurrency is been tasked it's best to abide by the law and do accordingly. I would never support anyone to go against the law
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January 26, 2019, 04:09:29 PM
 #34

I think making regulations must pay taxes if we have bitcoin or cryptocurrency that is something that is not clear because the tax cannot recognize people who have cryptocurrency or not. if you are asked to pay taxes, then just say you don't have it.
Just wonder how government will track each person in their country. Which one is have and which one is not. Maybe that thing will be problem again for government and we as investor only need to say like what you said, we don't have any crypto.

 
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January 26, 2019, 04:20:25 PM
 #35

now the tax for cryptocurrency is still a very unique debate because some countries have banned the use of cryptocurrency and there are some countries that permit the use of cryptocurrency and without the need to use taxes, and the most true tax can never be collected.

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January 26, 2019, 04:22:12 PM
 #36

Just wonder how government will track each person in their country. Which one is have and which one is not.

The government can check mate any transcation withdrawal from cryptocurrency enable wallet to any bank account through that the can track the possible user
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January 26, 2019, 04:38:58 PM
 #37

More and more countries, like Chile or India, are trying to tax their citizen for the crypto they hold.

Please don't pay taxes on your coins.
You really don't need it, unless you are totally ignorant.

It's simple: they cannot prove you have the coins on your PC/phone , so you don't have nothing to pay taxes on, as far as they know.
It's just their attempt to trick the ignorants that don't know about that Wink

Even if they look for your wallet on your PC/phone ,
your wallet data is not accessible to them because it's  encrypted with password  ( uhm.... have you set the password protection on your wallet... right? Wink ).

Of course you are not going to give them the wallet password.

Oh.. they tell you that you withdrawn the coins from an exchange,  so that's the proof you have the coins?
Just say that it was an hacker that stole your coins from the exchange,  not you.
You got robbed, and you don't have to pay taxes on the money that was stolen from you, right?

P.S. for the geeks: use Veracrypt Wink

Is it just because paying taxes with crypto assets has such an impact?
I don't think that's possible, what about those who use crypto assets to shop, isn't that the same, the only difference is the name of the platform?

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January 26, 2019, 05:09:47 PM
 #38

The only thing I’m really bothered about is when I come to cash in a certain big % of my bitcoin’s in the future I’ll have to pay taxes then because it’ll be too much to just sweep under the carpet & not be noticed.

I have a good accountant though.


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January 26, 2019, 05:15:59 PM
 #39

That would definitely become task evasion. If unfortunately you turn out to be in a country where cryptocurrency is been tasked it's best to abide by the law and do accordingly. I would never support anyone to go against the law
Just a correction, it's tax not task.

Anyway, if you're country mandates a law which states that you should pay tax according to your crypto income then don't hesitate to follow it because it helps your economy in the long run. Also, consider yourself lucky because the use of crypto in your country was regulated only and not totally banned (like in Bangladesh). And for those people who live in a country where crypto is legal or there's no concrete law rgarding this matter, just continue being a good investor and don't give your government reasons to prohibit the use if it.

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January 26, 2019, 05:27:13 PM
 #40

Your post shows the ignorance -snip-

“Disobedience is the true foundation of liberty. The obedient must be slaves.”
― Henry David Thoreau

I don't think he was purposely ignorant, those are just views of somebody that was given a chance to have and make them in to reality. That was the whole point of crypto wasn't it? To give us true financial independence. No one can be ostracized for utilizing that built in feature of cryptocurrency's technology.

“Quod timet servit.” (those in fear are slaves)
―Seneca the Younger

This brave fellow is just saying what you all* are only dreaming of!
Some members above already have implied and actively called for group responsibility...
You know that this is one way ticket, one way ticket to world totalitarian government, called nwo.



People don't want to pay taxes but want a free hospital, free school, free house, free food, free everything and even get money from the govt. but still, complain.
If someone pays himself the hospital (a birth cost +$30,000 in total btw) and everything then he will be entitled to say, no taxes

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