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 Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

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JohnsonLoi
post Mar 9 2019, 02:44 PM

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QUOTE(Andrew Lim @ Mar 9 2019, 01:41 PM)
I withdraw to Remitano then trade for ringgit.
If Remitano doesn't support the crypto I am withdrawing directly, I trade it for USDT first then withdraw it out of Binance.
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Thanks for your info. Never knew Remitano has Tether. I have always changed to BTC in binance then send BTC to Localbitcoins and sell for MYR.
JohnsonLoi
post Feb 6 2020, 03:00 PM

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If Tesla can 4x since the beginning of this year,why not crypto?
JohnsonLoi
post Feb 10 2020, 10:01 AM

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QUOTE(jack2 @ Feb 9 2020, 07:29 PM)
I guarantee can go 200k USD
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Tim Draper says $250k.

I think it will top around $300k +-10%
JohnsonLoi
post Jan 4 2021, 01:15 PM

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QUOTE(ljken @ Jan 4 2021, 10:46 AM)
Does anyone know how to get verified on Binance if utility bill name is different from your own? (father’s name)

Long time didn’t buy now Remitano and Localbtc/eth like dead already with high fees sellers. Luno fees also stupid as usual as well. Thanks if anyone can help ya... appreciate the reply.
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Now need KYC to get verified on Binance?

I remember signing up in 2017 without KYC at all
JohnsonLoi
post Jan 4 2021, 01:57 PM

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QUOTE(ljken @ Jan 4 2021, 01:27 PM)
Need if want buy p2p. If got other way to buy can still deposit and trade like normal (albeit with trading limit).
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Oh thats why. I never use p2p on binance, used to trade altcoins over there and deposit/withdraw no problem without KYC ( as long as below 2BTC per daily limit)
JohnsonLoi
post Jan 4 2021, 02:26 PM

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QUOTE(doraemonkiller @ Jan 4 2021, 02:24 PM)
ETH now USD1120. Maybe end of this week USD2k?  : laugh.gif
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Possible. BTC broke ATH recently.. now it is time for Eth to break ATH
JohnsonLoi
post Jan 4 2021, 03:27 PM

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QUOTE(ljken @ Jan 4 2021, 03:21 PM)
Seems like Binance kyc now will take a week... jialat.
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too many new users signing up
JohnsonLoi
post Jan 6 2021, 09:18 AM

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QUOTE(Andrew Lim @ Jan 5 2021, 09:22 PM)
“If the transaction is more of a capital gain, passive, or as done occasionally, unplanned or unsystematic, then the profit from such sale and purchase is a tax-free income.

So as long as don't cash out and just hodl, can delay declaration I guess?

I think Remitano and Luno regular traders will be affected more because all your P2P trades are stored and government can request them.
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I think you are right.

If capital gain, should be no tax unless trading is your business.

But if BTC reaches $250k and you sell just 1 BTC and you receive RM 1 mil in your bank account. I don't think government won't come kacau you.
JohnsonLoi
post Jan 6 2021, 09:29 AM

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QUOTE(EremesGuile @ Jan 6 2021, 09:26 AM)
Do we have real case like this in Malaysia? I'm wondering how gomen look at things like this. Suddenly money out of thin air something like that. Of course get marked.
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That's why. I don't know anyone personally who did that.

But even if you tell them that you sell your 1 BTC (your first sale ever), so it should classified as capital gain, then it should be tax-free income.
JohnsonLoi
post Jan 6 2021, 10:27 AM

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QUOTE(jack2 @ Jan 6 2021, 10:05 AM)
You need to provide solid history on purchAse and selling prices.

Otherwise, you will be deemed like traders and all profits are taxable like business transactions.
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Even if I only sell once, also considered as traders?
Lets just say I had been mining a lot since early days, and keep buying every month since few years ago.
JohnsonLoi
post Jan 6 2021, 12:45 PM

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QUOTE(yushin @ Jan 6 2021, 10:50 AM)
Your blockchain address will have all the records of coins coming in and out since the account creation.
Map the transaction with spot price during each transaction date and time will give you enough prove already.
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I already sent my BTC from a lot of exchanges (Binance, Localbitcoins, Luno, Remitano) to separate Bitcoin addresses already over the years.


JohnsonLoi
post Jan 6 2021, 12:47 PM

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QUOTE(jack2 @ Jan 6 2021, 10:58 AM)
Mining shall be classified as "business" transaction and not "capital" acquisition for the purpose of appreciation lo...

It is really unfair for such treatment  whereby they tax you on trading profit and how about if someone bought high and then sell low and suffering losses?
Of course they allow you to claim tax losses...
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I used to mine as a hobby long time ago, but lost those mined coins because I gambled it all on some dice sites. So now I don't have those coins coming from mining. The mining thing is just a hypothetical example.

But I have been buying BTC since few years ago every month and never sold any BTC yet.
JohnsonLoi
post Jan 7 2021, 08:08 AM

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New ATH (again)

Wouldn't get tired saying this.

People in /k still don't understand BTC and keep bashing BTC. Still got long way to go.
JohnsonLoi
post Jan 7 2021, 08:18 AM

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QUOTE(Andrew Lim @ Jan 7 2021, 08:14 AM)
Yeah there are a lot of nocoiners still calling it a Ponzi, a scam, etc.

I think the new ATH may have been helped by Trump supporters attacking Congress today. This is a historical moment.
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Some people will still call it a scam no matter at what price Bitcoin will be. One of my friend says Bitcoin is only speculation.

Regarding the shooting in US today,
Uncertainty around the world = Good for Bitcoin
JohnsonLoi
post Jan 8 2021, 08:41 AM

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Woke up to $40k BTC

Just 3 weeks ago we were breaking old ATH which was $20k.

Basically net worth doubled in less than a month for those who HODL
JohnsonLoi
post Jan 8 2021, 09:57 AM

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QUOTE(plurbuddyskuppy @ Jan 8 2021, 09:52 AM)
wait till 40k or take out now? look promising but.... not sure why im goyang now...
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$60k within weeks is possible.. I wouldn't sell at $40k range
JohnsonLoi
post Jan 8 2021, 12:07 PM

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QUOTE(plurbuddyskuppy @ Jan 8 2021, 11:49 AM)
why do u think 60k achievable in a week?  hmm.gif  hmm.gif
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This post has been edited by JohnsonLoi: Jan 8 2021, 12:07 PM
JohnsonLoi
post Jan 8 2021, 02:29 PM

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QUOTE(jack2 @ Jan 8 2021, 02:21 PM)
Remitano is scam now
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Can explain why?

Remitano is more popular in Malaysia than Localbitcoins and Luno now
JohnsonLoi
post Jan 8 2021, 02:34 PM

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QUOTE(jack2 @ Jan 8 2021, 02:30 PM)
Support is not answering and all issues are there
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Luckily I didn't use Remitano.

But I don't know why Remitano is the most popular crypto exchange in Malaysia
JohnsonLoi
post Jan 8 2021, 02:45 PM

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QUOTE(plurbuddyskuppy @ Jan 8 2021, 02:38 PM)
hm if this real, wanna dump some more money...
making small profit better than nothing.  hmm.gif
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He says $60k within 3 days, which is 50% increment from now.. for me that is too optimistic..

$60k by mid Feb is more attainable

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