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Are we excited yet?

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    #152
    sparkletooth
    Registered Users Posts: 54 ✭✭sparkletooth


    AtticusFinch86 wrote: »
    They won't accept that excuse. Otherwise all taxpayers would claim ignorance when Revenue came knocking. As far as they're concerned, the onus is on you to ensure you are tax compliant.

    Boating accident in Koh Phangan it is so.

    Joking


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    #153
    sparkletooth
    Registered Users Posts: 54 ✭✭sparkletooth


    sparkletooth wrote: »
    Boating accident in Koh Phangan it is so.

    Joking

    By the way, I haven't been on boards.ie in years.

    Any good Irish crypto servers on discord or Telegram chats?


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    #154
    Unearthly
    Registered Users Posts: 7,984 ✭✭✭Unearthly


    Rob2D wrote: »
    I don't know about that. All those exchanges ask for your passport for a reason.

    .

    Yeah the passport is a requirement organisation's need to do that are potentially exposed to money laundering/terrorist financing/predicate offences. They need to know their customers (KYC) so if something is suspicious, they can contact the relevant authorities, or if an authority contacts them about you, they will hand over all information about you


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    #155
    HGVRHKYY
    Registered Users Posts: 407 ✭✭HGVRHKYY


    Unearthly wrote: »
    Yeah the passport is a requirement organisation's need to do that are potentially exposed to money laundering/terrorist financing/predicate offences. They need to know their customers (KYC) so if something is suspicious, they can contact the relevant authorities, or if an authority contacts them about you, they will hand over all information about you

    Example here: https://decrypt.co/70420/man-used-coinbase-hitman-bitcoin-fbi?fbclid=IwAR32P1PxDMtPKbxij2KRxQj2EyrYIMT1Ll7DZnz8W2CSjICCxxHyO_oDrDM


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    #156
    harmless
    Registered Users Posts: 966 ✭✭✭harmless


    The exchange won't be reporting you to revenue as said the KYC to them is more for monitoring possible money laundering.

    Your bank may flag it for revenue though if you're a residence is in Ireland.
    When crypto is written in to legislation then claiming ignorance will not work.
    They still have no way to calculate costs vs gains.

    I'm not advocating not filing a return, you are required to do this even if you are under the allowance threshold.


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    #157
    Minime2.5
    Registered Users Posts: 1,109 ✭✭✭Minime2.5


    Im new to crypto. Plan to keep topping up by 1 to 2k every month. Can some one tell me how much capital gains tax am I liable to pay ?


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    #158
    Jackben75
    Registered Users Posts: 193 ✭✭Jackben75


    Minime2.5 wrote: »
    Im new to crypto. Plan to keep topping up by 1 to 2k every month. Can some one tell me how much capital gains tax am I liable to pay ?




    33% - 1270 allowance - initial investment and/or losses incurred on other investments.


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    #159
    harmless
    Registered Users Posts: 966 ✭✭✭harmless


    Jackben75 wrote: »
    33% - 1270 allowance - initial investment and/or losses incurred on other investments.


    And if the initial investment is mining?


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    #160
    ConseyMan
    Registered Users Posts: 55 ✭✭ConseyMan


    Jackben75 wrote: »
    33% - 1270 allowance - initial investment and/or losses incurred on other investments.

    Unless you emigrate to portugal where it is
    33% -1,000,000 allowance - initial investment and/or losses incurred on other investments.

    Which if i you make enough money, and it doesn't look like i will, would certainly be worth it.
    :cool:


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    #161
    crushproof
    Registered Users Posts: 2,748 ✭✭✭crushproof


    Guys come, to the tax thread with all this chat!


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    #162
    harmless
    Registered Users Posts: 966 ✭✭✭harmless


    crushproof wrote: »
    Guys come, to the tax thread with all this chat!


    I'm excited that I'm making enough that I have to think about tax!


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    #163
    HGVRHKYY
    Registered Users Posts: 407 ✭✭HGVRHKYY


    crushproof wrote: »
    Guys come, to the tax thread with all this chat!

    Why?

    Please let the rest of us know exactly what you would like to be talked about ITT, oh great one, so we can tailor our discussions to your personal preference!

    Actually gas how some people feel entitled to try and control how conversations flow on online forums, you'd say something if it was completely irrelevant and off topic but it isn't, just let people off to talk about whatever comes up naturally. I could've sworn crypto was about decentralisation, yet people here are trying to assert some strange authority over what can be talked about in which threads


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    #164
    shawki
    Registered Users Posts: 663 ✭✭✭shawki


    HGVRHKYY wrote: »
    Why?

    Please let the rest of us know exactly what you would like to be talked about ITT, oh great one, so we can tailor our discussions to your personal preference!

    Actually gas how some people feel entitled to try and control how conversations flow on online forums, you'd say something if it was completely irrelevant and off topic but it isn't, just let people off to talk about whatever comes up naturally. I could've sworn crypto was about decentralisation, yet people here are trying to assert some strange authority over what can be talked about in which threads

    "Is anyone else starting to become a bit excited?"

    Tax does not excite me.


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    #165
    HGVRHKYY
    Registered Users Posts: 407 ✭✭HGVRHKYY


    shawki wrote: »
    "Is anyone else starting to become a bit excited?"

    Tax does not excite me.

    Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!


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    #166
    HGVRHKYY
    Registered Users Posts: 407 ✭✭HGVRHKYY


    On that note,

    Hungary plans Bitcoin tax cut as part of economic recovery program
    As part of the post-COVID-19 relief efforts, lawmakers are considering reducing taxes on cryptocurrency trading to 15% of income, down from the current rate of 30.5%


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    #167
    harmless
    Registered Users Posts: 966 ✭✭✭harmless


    shawki wrote: »
    Tax does not excite me.


    It excites me so a mod would have to make a call on if it belongs here.


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    #168
    Whelo79
    Registered Users Posts: 2,649 ✭✭✭Whelo79


    HGVRHKYY wrote: »
    Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!

    So do it in the purpose made tax chat thread.


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    #169
    Thargor
    Registered Users Posts: 17,891 ✭✭✭✭Thargor


    Ethereum investors reading all these carnage and big drop comments:

    j51uHm1.gif


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    #170
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,271 CMod ✭✭✭✭Nody


    harmless wrote: »
    It excites me so a mod would have to make a call on if it belongs here.
    Mod:
    Rub two Dogecoins together and we are summoned from our crypto form...

    It's a good question and no real ruling was done previously; hence with the omnipotent powers invested in me I've created a new thread for all tax discussion to go. The discussion has a tendency to keep coming up over and over again in multiple threads and hence gathering it in one place seems to make more sense as per the mega thread concept in other forums.


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    #171
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    BTT making a satisfactory recovery for me.

    Keeping me holdings up me jumper.


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    #172
    Jeff2
    Registered Users Posts: 7,020 ✭✭✭Jeff2


    Good up tick now it seems

    XLM was doing the going through this behind ETH.

    From what I'm watching.


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    #173
    Mucashinto
    Registered Users Posts: 321 ✭✭Mucashinto


    Just paid a 223e fee on uniswap like it was normal.

    I have no idea what I'm doing anymore tbh. All the "DYOR" and fundamentals and blah blah blah and all you had to do was buy doge really.

    So many top signals (for months now tbh) and still it's going. Wilder than I ever imagined it would be, has me spinning at this stage honestly. Is this actual real money? Where does it come from, does nobody miss it? Fairly sure I'm the dumb money here :o

    (Had a few drinks and bought some $SATA)


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    #174
    ZeroThreat
    Registered Users Posts: 2,183 ✭✭✭ZeroThreat


    HGVRHKYY wrote: »
    Chatting about potential opportunities to avoid them, like relocating, gets me highly aroused!

    Time to watch some nomad capitalist videos on youtube, with the extremely effete host :D


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    #175
    Jeff2
    Registered Users Posts: 7,020 ✭✭✭Jeff2


    Buy the dip they said and all fine they said. :)

    :D

    I'm loving this. :)


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    #176
    nathan99
    Registered Users Posts: 151 ✭✭nathan99


    Mucashinto wrote: »
    Just paid a 223e fee on uniswap like it was normal.

    Someone correct me if Im wrong , but I think its possible to avoid these gas fees using the Matic network ( Which is essentially a L2 to eth ). I think their equivalent is called Quickswap.


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    #177
    Mastroianni
    Registered Users Posts: 89 ✭✭Mastroianni


    Anyway guys correct me if I'm wrong, I'm struggling with stop-loss-limit order on the exchange:

    "stop" is when an order, whether is buy or sell, is triggered: we activate the exchange to sell/buy. And "limit" is when effectively the order goes. In case we want to mitigate our loss we trigger (stop) a sell order at 100 and we effectively sell at 90. In case to buy at a good price we trigger (stop) at 100 and we buy at 110. Can you correct me if I said wrong?


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    #178
    rednoggin
    Registered Users Posts: 104 ✭✭rednoggin


    Markus Antonius wrote: »
    Time Capsule post:

    Litecoin 44.76

    Litecoin price is wrong


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    #179
    TheValeyard
    Registered Users Posts: 12,258 ✭✭✭✭TheValeyard


    Think ill finish mining ETH for the moment and switch to Monero.

    Fcuk Putin. Glory to Ukraine!



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    #180
    JibJabWibWab
    Closed Accounts Posts: 161 ✭✭JibJabWibWab


    TheValeyard wrote: »
    Think ill finish mining ETH for the moment and switch to Monero.

    Why? ETH mining is currently more profitable than ever before...

    What kind of miner do you have?


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    #181
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    JibJabWibWab wrote: »
    Why? ETH mining is currently more profitable than ever before...

    What kind of miner do you have?

    I think there is a problem with ethermine or something. My hashrate is a consistent 60mhs but it says my current is 79.1 and my daily earnings are $15.42, which seems high. I updated to the newest lolminer this morning.


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