Are we excited yet?

You push it with your hand while going bbbbbrrrrrrrrrrrmmmmmmm.

That kinda defeats the purpose of owning a lambo, ugly too from the outside

Okay just to address this

"In theory". In practice I've spent far more in crypto transfers and exchange fees in the last 7 years than I've spent on bank accounts/transfers in my entire life.

That aside, yes some crypto moves fast and (almost) feeless, but we have cash systems that can move stuff fast and (almost) feeless.

Take Revolut for example. Transfers to other revolut accounts? Free. Transfers to domestic accounts? Free. Transfers to the EU? Free. Transfers outside Europe? Usually around 0.15% or 0.20%.

As for the "this is early yet". It's 15 years. Crypto purchases (after a peak) are decreasing. The public don't want to pay for their rent/utilities/groceries/etc in thousands of different volatile private assets or stable-coins no matter how "fast and feeless" they are. People don't want to play with passwords and one mistake and it's gone. Business absolutely doesn't want to touch that.

Maybe there's a future with fully regulated crypto stable-coins as alternative currencies (and not risky **** like Tether and Terra)

Which one of you was it :)

"Cryptocurrency trader, Graham De Barra, with an address at Rua Praia, Ribeira Seca in Portugal was the subject of a Revenue audit case for the under-declaration of income tax. Total settlements exceeded €202k, which included €89k in tax, €45k in interest and €67k in penalties. The total amount of €202k was unpaid. "

He's my new hero.

Doubly so after finding he's likely a human rights campaigner who has said some very intelligent things about decriminalising drugs that align well with my own views

As I said in another thread, I was just after reading the tax treaty with Portugal. I saw no mention of enforcement, so I don't think the Portuguese are going to go chasing payment on Revenue's behalf.

Also with regard to CGT, the treaty makes no mention of that steaming turd of a 3 year CGT disposal rule, so it's probably safe to say it's unenforceable hopium nature is recognised at official levels.

I wonder did some Irish lawyer try it on with his Portuguese counterpart when they were negotiating the treaty and got a reply related to unnatural acts with his burro?

Although I hold neither, if I were you, I’d be doing something like 60/30 BTC/ETH, and then maybe 10% into SOL (or ADA).

Of course DCA is always advisable too, and don’t be in a hurry for profits. ‘Time in the market’ is always better than ‘timing the market’!

This is probably a stupid hypothesis, but I wonder will this mean the likes of the Ethereum ETF will arrive sooner rather than later?

All EU countries are part of a programme where they will cooperate for the recovery of taxes for individuals from other jurisdictions, so revenue could definitely pursue that through the Portuguese revenue service; that's likely how they obtained his address/details.

You're only safe if you either leave the EU or do things correctly (this means becoming non-resident in Ireland, which takes 3+ years as far as I remember. But even then, until you go all the way and become non domiciled, you have a limit of how much you can dispose of apparently (think it's around €1m or so). Anyone considering relocating for something like this needs to do a lot of research and be certain to cover themselves.

Looks like you've a lot of research to do before jumping into the market. Bitcoin's price is at an all time high now so it's a risky time to get involved. The price can continue to rise from here and go a lot higher but only speculate with money you can afford to lose. ETH is Ethereum, the number two ranked crypto (it's still 18% below its previous all time high price). SOL (Solana) and ADA (Cardano) are two riskier plays with more potential upside.

(DCA)-Dollar-cost averaging is the system of regularly buying a fixed dollar amount of a specific investment, regardless of the price.

https://www.investopedia.com/terms/d/dollarcostaveraging.asp

Would have been cheaper to pay. 89k owed now 202k.

Ireland Inc®️ 2016: "Crypto? What's that? I'm sure it's like gambling"

Ireland Inc®️ 2017: "Come on lads, cough up the CGT - 33%, thanks!"

Ireland Inc®️ 2022: "You made a loss? Tough sh!t investing in a risky asset"

Ireland Inc®️ 2024: "That crypto you have stored away, that is undeclared income. Pay IT, PRSI, USC. 50%, thanks!"

And they wonder why all the young people are moving away from this hell hole 🙄

Secret Token (SCRT) blasting off 24%. Bought a nice chunk of this in November purely for the 20-24% staking rewards. Was thinking "that's a nice cushion on a risky token that has a 21 day unstake period". didn't think it would triple in value as well 😊

You can buy some crypto, hold onto it for a while, sell it for a profit and you owe cgt.

If you do that frequently enough, buy and sell for a profit on a number of occasions it can then at some point be deemed an income, so income tax can be due. Where exactly the line between the two is I’ve no idea.

Once this whole picture starts to assemble, devaluation of fiat, taxes on the transfer of BTC to fiat, what Saylor is saying becomes clearer and clearer.

You do not sell your bitcoin folks

It sounds like he moved to Portugal for tax reasons but was hit with undeclared profits, he might have sold before the move for liquidity. If you do move abroad there is always a chance they change the tax rules there too. As far as I’m aware it’s capital gains tax of 33%.

I think it was India that was looking for 50% of every transaction. That’s nuts, it implied even onboarding cash.