Cyprus-Forum.com

[Maximus]

At least that produces something, crypto doesnt produce anything.

The value in crypto is in it's utility. If it allows people do do something they want to do but can not do without the crypto (or do as well or as cheaply) then it has value. Does gold produce anything ? Are you saying that gold does not have any value because gold does not produce anything ?

Gold is a raw material, it is used in computers and technology, machinery and aviation, dentistry and medicine and many other things.

In apocalyptic times, at least you can use Gold to barter with.

You wont be able to do that with bitcoin. You cant do any of the above with bitcoin.

Gold is gods money, fiat currency is mans money, Crypto is more like the latter than the former.

But why gold? I was talking about shares in a business.

Crypto is speculation.

I still think that it is the tulip bulb mania of our time.

Think about it, its value is in its utility you say, well that is, it facilitates payments basically.

Banks do that and their share price isnt nowhere near these levels. Banks are also a business that produces cashflow and fiat does (will again at some point) earn interest.

There is nothing new here, except the underlying technology but it does the same thing. Transfer value from one person to another. Like a SWIFT bank transfer.

[Maximus]

Why you are in and out of it, trading and investing in it?

Take make money yeah? To avoid being a someone that is left holding the shit bag yeah?

To make Euro's, British Pounds or US Dollars yeah?

[Paphitis]

As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition. If I were UK tax resident which I am not, tax due would be at standard CGT rates for any increase in value from when I bought in but at the amounts I am dealing with that would be under the threshold for when such CGT taxes are due anyway.

There you have it folks. A frank admission.

Why would the Turks want a solution when they can sit on stolen properties in an illegal state, making shitloads from their computers buying Cryptos and not have to pay any tax on their returns?

Thievery at it's finest. You got to hand it to them.

[Paphitis]

Meanwhile, there is a meme crypto doing the rounds called Doge which has just gone ballistic to the moon.

You couldn’t even make it up.

[Kikapu]

As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition. If I were UK tax resident which I am not, tax due would be at standard CGT rates for any increase in value from when I bought in but at the amounts I am dealing with that would be under the threshold for when such CGT taxes are due anyway.

There you have it folks. A frank admission.

Why would the Turks want a solution when they can sit on stolen properties in an illegal state, making shitloads from their computers buying Cryptos and not have to pay any tax on their returns?

Thievery at it's finest. You got to hand it to them.

My question to Erol on fees and taxes when trading with crypto currency on short term trading was purely meant
to be an economical one and not a political one. In any case, should you all be happy he does not contribute financially to the "trnc" when he doesn't need to?

[erolz66]

There you have it folks. A frank admission.

Why would the Turks want a solution when ......

There you have it , a frank admission. I am not Cypriot, can not ever be Cypriot, can only ever be a 'Turk'. The Cyprus problem in a nut shell.

[Paphitis]

As for taxes that is between me and the TRNC government but as a non recognised entity coinbase will not be informing TRNC tax authorities of my trades, can not do so because that would be tant amount to recognition. If I were UK tax resident which I am not, tax due would be at standard CGT rates for any increase in value from when I bought in but at the amounts I am dealing with that would be under the threshold for when such CGT taxes are due anyway.

There you have it folks. A frank admission.

Why would the Turks want a solution when they can sit on stolen properties in an illegal state, making shitloads from their computers buying Cryptos and not have to pay any tax on their returns?

Thievery at it's finest. You got to hand it to them.

My question to Erol on fees and taxes when trading with crypto currency on short term trading was purely meant
to be an economical one and not a political one. In any case, should you all be happy he does not contribute financially to the "trnc" when he doesn't need to?

It’s ok. Tit for tat since he is an ass!

[erolz66]

Think about it, its value is in its utility you say, well that is, it facilitates payments basically.

Banks do that and their share price isnt nowhere near these levels. Banks are also a business that produces cashflow and fiat does (will again at some point) earn interest.

There is nothing new here, except the underlying technology but it does the same thing. Transfer value from one person to another. Like a SWIFT bank transfer.

To be able to transfer value from one person to another globally without the need for a trusted third party is entirely new. It has never been possible before in the history of mankind. The difference between crypto and fiat is the difference between a typewriter and a word processor. Its the difference between old world data networks where the control, what you can do with it is with a centralised third party and the internet where the control is with the end users of the network.

imo

[erolz66]

It’s ok. Tit for tat since he is an ass!

You did not call me an ass. You called me a 'Turk'. Yet I am a Cypriot in every possible sense of the word but to you I will always be 'other', be 'not Cypriot' and that is at the core of the Cyprus's failure to date.

[Paphitis]

It’s ok. Tit for tat since he is an ass!

You did not call me an ass. You called me a 'Turk'. Yet I am a Cypriot in every possible sense of the word but to you I will always be 'other', be 'not Cypriot' and that is at the core of the Cyprus's failure to date.

Awe! And you think I care what you are?

Actually, you may not think so but I am very progressive. I don’t have any issue with TCs expressing their Cypriotness. Not a single issue.