selling bitcoin
selling bitcoin
If one had a decent amount of bitcoin and wanted to convert it to cash how could that be done in Asia? A person in that situation might not want to convert in their home country for tax reasons. Meeting someone and exchanging for cash in dangerous and not practical.
-
- I have Cheap Mobile Internet
- Reactions: 148
- Posts: 498
- Joined: Wed Sep 23, 2020 8:00 pm
By “tax reasons” you mean “tax evasion reasons” yeah?
You’ve made loads of easy money without actually creating anything of value, but that’s not enough for you - you also have to sneak it out of the country to avoid paying your fair share on it. Peak greed, I really hope you get caught.
You’ve made loads of easy money without actually creating anything of value, but that’s not enough for you - you also have to sneak it out of the country to avoid paying your fair share on it. Peak greed, I really hope you get caught.
2
2
New Zealand. No CGTMJones wrote: ↑Tue Apr 11, 2023 5:08 amIf one had a decent amount of bitcoin and wanted to convert it to cash how could that be done in Asia? A person in that situation might not want to convert in their home country for tax reasons. Meeting someone and exchanging for cash in dangerous and not practical.
"Goodness me! Now STD free..."
Why would you want to exchange it for cash? Bitcoin is the new global currency post US Dollar dominance & all those silly fiat currency money printers. Oh wait.
Can I suggest a trip to El Salvador where it is recognised as legal tender? Cost of a flight & a cheeky weekend stay is probably less than what you'd get whacked in capital gains taxes or whatever else you're trying to avoid. Good luck getting all that cash out in suitcases though.
Can I suggest a trip to El Salvador where it is recognised as legal tender? Cost of a flight & a cheeky weekend stay is probably less than what you'd get whacked in capital gains taxes or whatever else you're trying to avoid. Good luck getting all that cash out in suitcases though.
1
1
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
I thought the whole point of crypto was it was borderless and untraceable?
Isn’t there a dealer who advertises on 440: why not sell to him?
I don’t understand the issue.
Isn’t there a dealer who advertises on 440: why not sell to him?
I don’t understand the issue.
- Hot_Pink_Urinal_Mint
- I need professional help
- Reactions: 74
- Posts: 1044
- Joined: Tue Nov 10, 2009 3:19 pm
- Location: Right behind you
Republic of Georgia would be a good option. They are pro bitcoin plus it's very easy to open a bank account - just need a local sim. Also, the ATMs dispense US dollars if you want.
Thanks for the replies. You can't easily use bitcoin to buy an apartment in most western countries. Or buy groceries for that matter. The fact is you need cash to buy things today. The problem is geting it into the western banking system.
The thought of avoinding tax does not enter my mind. Most countries in the world are run basically by criminal gangs. Of course this is all hypothetical as I only have a very small amount of bitcoin.
The thought of avoinding tax does not enter my mind. Most countries in the world are run basically by criminal gangs. Of course this is all hypothetical as I only have a very small amount of bitcoin.
The tax agency in the West will have questions about where all that cash came from. Bringing it across the border won’t solve your original problem.
Bringing a big wad of cash from Cambodia will trigger every red flag in the system even if you do manage to sell the Bitcoins in person.
My friend owns about 20 bitcoin. What is stopping him from buying citizenship in St. Lucia and cashing out when/if it hits $100,000?
- ផោមក្លិនស្អុយ
- Daylight, I need Daylight !?!
- Reactions: 688
- Posts: 4725
- Joined: Sun Feb 05, 2017 4:42 pm
That’s probably a question for him.
Nothing is stopping him, but if he’s a US citizen then the IRS will want to have a word.
He would need to denounce his American citizenship first, and he wouldn’t be the first to do so for tax reasons.
-
- I live above an internet cafe
- Reactions: 25
- Posts: 232
- Joined: Thu Feb 16, 2023 11:31 pm
Do you understand or realise that you just described how the global banking system and global markets,alongside derivatives and every other financial instrument works somehow I seriously doubt it?nerdlinger wrote: ↑Tue Apr 11, 2023 10:42 amBy “tax reasons” you mean “tax evasion reasons” yeah?
You’ve made loads of easy money without actually creating anything of value, but that’s not enough for you - you also have to sneak it out of the country to avoid paying your fair share on it. Peak greed, I really hope you get caught.
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
-
- I live above an internet cafe
- Reactions: 25
- Posts: 232
- Joined: Thu Feb 16, 2023 11:31 pm
There must be bank cards and accounts available for exactly this purpose Google is your friend but I will do some research on your behalf and let you know the results soon?MJones wrote: ↑Tue Apr 11, 2023 10:28 pmThanks for the replies. You can't easily use bitcoin to buy an apartment in most western countries. Or buy groceries for that matter. The fact is you need cash to buy things today. The problem is geting it into the western banking system.
The thought of avoinding tax does not enter my mind. Most countries in the world are run basically by criminal gangs. Of course this is all hypothetical as I only have a very small amount of bitcoin.
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
-
- I live above an internet cafe
- Reactions: 25
- Posts: 232
- Joined: Thu Feb 16, 2023 11:31 pm
Because he entrusted Sam Bankman-Fried and his dodgy cohorts at FTX to safeguard his stash for him?
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Changing / selling old sterling notes
by Departure » Fri Dec 17, 2021 6:32 pm » in Money, Banking and Insurance - 0 Replies
- 1127 Views
-
Last post by Departure
Fri Dec 17, 2021 6:32 pm
-
-
-
5000$ Plane Tickets selling like hotcakes
by bongme » Wed Jul 27, 2022 12:49 pm » in Cambodia Speakeasy - 3 Replies
- 965 Views
-
Last post by redrum
Wed Jul 27, 2022 2:05 pm
-
-
-
Bank of Canadian deny Bloomberg reports of selling ABA
by Bong Burgundy » Wed Mar 13, 2024 6:31 am » in Cambodia News - 1 Replies
- 337 Views
-
Last post by marcel
Wed Mar 13, 2024 7:33 am
-
-
-
Police on the lookout for Kampot bars selling booze in coconuts
by Srey Bourque » Sat May 01, 2021 12:52 pm » in Cambodia Speakeasy - 3 Replies
- 1073 Views
-
Last post by spitthedog
Sat May 01, 2021 9:08 pm
-
-
-
British backpacker facing life imprisonment for selling drugs on Death Island/Koh Tao.
by Chroy Changvarite » Wed Mar 06, 2024 4:10 pm » in Thailand, Vietnam, Myanmar and Lao forums - 14 Replies
- 835 Views
-
Last post by angsta
Mon Mar 11, 2024 12:23 am
-