Charting the course of XRP

[WarChest]

1 hour ago, w1s said:

How can a country see how much you have on Bitstamp? You could sell and buy but keep it on there no?

UK Tax Law says that you must reveal your capital gains. When the money finally gets out of Bitstamp, if it's more than say 10K it is flagged by the banks and the Tax people will investigate where the money comes from. You then need those records transaction to show the gains and losses.

Edit : If you willfully try to hide your gains you will be prosecuted huge fines or prison or both. 

Edited April 7, 2021 by WarChest

[w1s]

8 minutes ago, WarChest said:

UK Tax Law says that you must reveal your capital gains. When the money finally gets out of Bitstamp, if it's more than say 10K it is flagged by the banks and the Tax people will investigate where the money comes from. You then need those records transaction to show the gains and losses.

Edit : If you willfully try to hide your gains you will be prosecuted huge fines or prison or both. 

Ok but can’t you just leave your money on Bitstamp? They can’t access that. 

[Neurotoxin]

4 minutes ago, w1s said:

Ok but can’t you just leave your money on Bitstamp? They can’t access that. 

I'm pretty sure Bitstamp issues statements to the governing agencies. I know coinbase does. They report their customer's activity to comply with regulations, and I doubt Bitstamp is any different.

[WarChest]

14 minutes ago, w1s said:

Ok but can’t you just leave your money on Bitstamp? They can’t access that. 

I think that is all rolled into the KYC and AML rules that are in place. If you have a large pot of cash and try to spend it, e.g. how can he afford a Lambo. The authorities will know

[jbjnr]

9 minutes ago, w1s said:

Ok but can’t you just leave your money on Bitstamp? They can’t access that. 

Clearly you don't quite understand the meaning of "tax evasion" - you can do anything you want with your money, you can not report any of your accounts, transactions or other dealings to the tax authorities. If and when a government agency finds out that you have failed to report something of that kind, then you will/might be prosecuted - and the penalty is often worse than just declaring and paying tax up front. 

Side note: Many of us actually like paying taxes. I like the fact that government keeps me safe, pays pensions to older citizens and welfare to less fortunate younger ones, looks after the economy and so on and so on. (NB. I'm not based in the USA - which is a country run on greed and normal rules don't really apply there).

This thread is supposed to be about xrp TA, can we please get back on topic. Thanks.

[WarChest]

2 minutes ago, jbjnr said:

Clearly you don't quite understand the meaning of "tax evasion" - you can do anything you want with your money, you can not report any of your accounts, transactions or other dealings to the tax authorities. If and when a government agency finds out that you have failed to report something of that kind, then you will/might be prosecuted - and the penalty is often worse than just declaring and paying tax up front. 

Side note: Many of us actually like paying taxes. I like the fact that government keeps me safe, pays pensions to older citizens and welfare to less fortunate younger ones, looks after the economy and so on and so on. (NB. I'm not based in the USA - which is a country run on greed and normal rules don't really apply there).

This thread is supposed to be about xrp TA, can we please get back on topic. Thanks.

Salty

[w1s]

8 minutes ago, jbjnr said:

Clearly you don't quite understand the meaning of "tax evasion" - you can do anything you want with your money, you can not report any of your accounts, transactions or other dealings to the tax authorities. If and when a government agency finds out that you have failed to report something of that kind, then you will/might be prosecuted - and the penalty is often worse than just declaring and paying tax up front. 

Side note: Many of us actually like paying taxes. I like the fact that government keeps me safe, pays pensions to older citizens and welfare to less fortunate younger ones, looks after the economy and so on and so on. (NB. I'm not based in the USA - which is a country run on greed and normal rules don't really apply there).

This thread is supposed to be about xrp TA, can we please get back on topic. Thanks.

Would never pay taxes for this fascist country of mine. They can go to hell.

[Julian_Williams]

11 hours ago, Neurotoxin said:

Sorry I'm late. XRP IS CHADDING!!! Btw, what do you mean by THAT type of guy? I've had severe insomnia since I was a child, the doctors still don't know how to treat it and while the heavy sedatives I am prescribed help to some degree, they are by no means a solution or magic. Simply a tool to help me get there.

I am vey sorry to hear this, and glad you have been to see doctors about this because it is serious.  If you have not read "Why We Sleep" by Mat Walker, please do.

I guess you have done a lot of your own research.  Obvious do not drink caffeine drinks ever (I tend to drink hot water), find your natural rhythms and work with them and find out ways to promote your sleep.  I take a daily nap in the afternoon, go to bed at 2.30am and get up at 10.30, which  is a rhythm that I really love to do) Sedatives do not give you the right sort of sleep.

Good luck with it.  

[Seoulite]

2 hours ago, Seoulite said:

As hoped we are finding a bit of support here. Wouldn't be surprised if we saw another test of support and then it would be nice to see us keep moving. One of the characteristics of the btc run up was consistent bullishness, just inching upward more or less continuously. I would like to see this daily candle close with a wick at the bottom, then the next daily candle makes a new high, and so on like that. We don't need 50% increases day on day, but a steady continuous push would be very welcome.

As expected we are finding good support around 90. Expecting a bounce here. I think the BTC drop leading this is just a stop run. They have been rejected off 60k a bunch but every time they keep coming back for more. Still bullish. BTC might drop a bit more here, find support somewhere around 56k, then bounce. This XRP shake out is very healthy, decent selling volume taking the pressure off the overbought levels. 

[retep]

54 minutes ago, w1s said:

Would never pay taxes for this fascist country of mine. They can go to hell.

When you keep that attitude, then your life is going to end up in hell because your goverment and the irs will make sure you get there.

In this world it's better to kill someone than evade taxes, because goverments hate tax evaders more than a murderer because

a murderer has no money but tax evaders do, so they going to screw you hard because the fines can be higher than your investment

AND your profits, and then you're back to start again and you don't receive any money and you may not pull the free out of jail card.

Now i live in holland and here we need to show how many cryptos we have on 1 januari and pay 1% tax for it, so i won't even bother

to hide what i have for those lousy peanuts i have to pay the irs.

 

[w1s]

5 minutes ago, retep said:

When you keep that attitude, then your life is going to end up in hell because your goverment and the irs will make sure you get there.

In this world it's better to kill someone than evade taxes, because goverments hate tax evaders more than a murderer because

a murderer has no money but tax evaders do, so they going to screw you hard because the fines can be higher than your investment

AND your profits, and then you're back to start again and you don't receive any money and you may not pull the free out of jail card.

Now i live in holland and here we need to show how many cryptos we have on 1 januari and pay 1% tax for it, so i won't even bother

to hide what i have for those lousy peanuts i have to pay the irs.

 

They have even worse attitude toward us. They are thieves. I would pay taxes in Holland. But not in Slovenia. A banana republic. 

[NMNR]

UK tax has nothing to do here. Just XRP following BTC tantrum. Remaining above 90c is crucial.

[RussianStandards]

1 minute ago, NMNR said:

UK tax has nothing to do here. Just XRP following BTC tantrum. Remaining above 90c is crucial.

What do you mean? We pay CGT

[retep]

2 minutes ago, w1s said:

They have even worse attitude toward us. They are thieves. I would pay taxes in Holland. But not in Slovenia. A banana republic. 

Why would you want to evade that stinking lousy 1%? As long your investment is parked in crypto's, then it's just 1% you have to pay,

so not worth to evade taxes and get into alot of trouble.

[retep]

Xrp is at 90ct now, so does anyone have any idea where this is going to? So is this just a small correction

or is it all over again for a while?