matrix_hawk

Sensible would be good enough. Anyone would look at how it works in the US and immediately call it out for being insanely unwieldy and encouraging people to try to dodge it. There should be some pragmatism applied.

The US rules are flat out bonkers. I didn't realise it was from dollar one until it was pointed out to me. I can't believe any sensibly operated country would run like that. In the UK you have a tax free allowance up to…

Weird. In the UK, which I presume has to abide by very similar rules, I was asked my very first ever source of funds thing a month or so ago. I was in the middle of paying for a car so I wrote a load of shit, or nothing…

LHV bank in Estonia works with Coinbase and have continually made positive noises about Bitcoin. It is often the case that a bank will work with someone like Coinbase and reject private customers but it's worth asking…

There's only a tiny number of countries in the world where trading and selling crypto is illegal. Unless you're in one of them they're talking out of their arse. They're fully within their rights to shut you down just…

As long as it has a measurable value they will want to tax it. It doesn't need a legal definition as long as it's not explicitly illegal. I find the radically different rules in each EU country kinda weird. You'd think…

'It is impossible to stop operations now, but it is possible to block crypto wallets and remove illegally obtained crypto assets. This can be done by gaining access to the crypto's private keys as a result of complex…

Yes, especially with something as fast moving as this. A lot of jurisdictions are still dithering and edicts could arrive any time. I'd feel a right twat if I'd moved somewhere only for the rates to be jacked up. I'm…

You could well be right and I might be talking out my arse and being infected by American tax talk. There are some accountants on here who've gone through various scenarios - https://old.reddit.com/r/BitcoinUK/ I'll…

But if you sell at 300 grand presumably your buy in was a few hundred pounds or a few thousand per coin. You'll be liable for 20% of that 295 grand profit or whatever. Doesn't matter if it doesn't leave the exchange and…

No way in hell would the tax man let you go that easily. I remember reading about Guy Hands, who owned EMI, moving to Guernsey to avoid a giant tax bill. He spends his days rattling around his empty mansion counting…

Property/real estate has its own tax rate and 28% is what you pay on your capital gain if you're a higher rate tax payer, 20% if you're a lower rate but if your profit raises that year's income into the higher band you…

A nice surprise when you realised otherwise. Less so when it might be whipped away from you shortly after. We have our very own tax havens on our doorstep like the Isle of Man, Guernsey, Jersey, Sark and Alderney. None…

So in the UK, there’s talk of bumping up capital gains tax to match income tax rates to cover those virus holiday expenses. If that happens, we’re looking at a jump from 20% to 45% for those of us with decent Bitcoin…

I wouldn't throw millions of hours or dollars at it but report it at least and keep googling the address. You never know, the hacker might be caught further down the line and if you're on record as having lost something…

I've honestly never heard of a private individual tracking down someone else and getting their money back. If your coins go to a known exchange address you could attempt to contact them and see what they say. Most of…

The coins are gone unfortunately. There's no way of directly retrieving them. As for tracing the thief it depends. Some people are incredibly lazy and keep reusing the same address. The thief might post the address…

I remember this being pushed on a FIRE Youtube channel and said it was a ponzi then. Funnily enough the comment didn't last very long. Interesting how sexual deviance often seems to go hand in hand with financial…

It looks like withdrawals were not possible yet they reopened deposits with new addresses a short time before they shut down properly. That's either incompetence or deception. Either way they've moved from innocent…

That's not what I've heard about the IRS. They're more vituperative than any other tax authority in the world. I'm in the UK. In Britain tax is taken on trust. You give them your calculations and cough up. I've never…