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RE: What a Little Steem Will Do - Update for January 2017
I am in the boat that it only matters when you cash out. And I have only used $27 in real money. My transactions are coin to coin, which isn't considered currency. The issue is the transaction from and to currency.
That's how I feel about it too but I'm not sure the deeper I go down the hole. Thanks for your opinion and I wish you luck trading brother.
Depends where you live. Some countries treat it as a financial asset, so you'd need proof of how much money you put in and how much you're getting out from that money (from what i gather, i'm no tax expert). In other countries it's treated as a non-financial asset where you only need to declare how much you're taking out. But for most countries its a completely grey area.
Yeah it is a bit confusing but I do appreciate your input. At some point we'll get it figured out. It's really a curiosity of mine but who knows how serious it will become.
Yeah my general rule is to keep withdrawals under 10k. That's the limit at under which my bank doesn't have to verify the source of incoming funds, so the legal limit might be different where you live. Good luck on your quest fellow cryptocustodian!
This.
Do small withdrawals per month under $10k and less than $20k trades.
Cool, thanks!