Dealing with cryptocurrencies is Hell in Israel, the regulatory requirements, even for personal investors take more time than managing the investment itself.
It's clear that the Tax Authority demands documents they'll never even look at, but because of the slight chance of "getting caught" we're all supposed to file them.
And I'm a rooster if more than 10% of the investors will provide them.
So yeah, I predict that crypto will slowly die in Israel, because the mountain of papers one have to send, to stay legally compliant.
If I'll move to a more crypto-friendly country, or if the tax code here changes to a manageable form I'll be back, with full STEEM. (Get it?)
Until then I'm powering-down. Sorry everyone, and good luck to those who stay here.
Good idea.
This is the shittiest shit possible...
I will probably quit too for the same reasons.
maybe instead of powering down i will set my activity to 0.
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Instead of going to activity 0, you can lend me some steem power. I would appreciate it, if you like my content ;)
Come to Germany, you are more then welcome and trading is allowed! Have a good one for now and see you in the future back on steemit!
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I guess you guys might have saw that one but I simply wanted to make sure you did.
https://steemit.com/politics/@contentjunkie/israeli-tax-authority-outlines-tax-guidelines-for-digital-currencies
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and by the way. which bank in Israel will agree for ~$500k coming from a bitcoin exchange ?
the state is asking for tax, but the banks are treating us like money launderers/drug dealers/terrorists/ransomware...
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ניסית עם עורך דין ורואה חשבון?
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אני לא רוצה לרוץ לבתי משפט מול הבנק, אין לי כח לשטויות האלה...
דיברתי עם אנשים מהקהילה, לחלק עושים בעיות גם עם אישורים מרו"ח
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יש עו"ד שפותח לאנשים כמונו חשבונות בנק בחו"ל, אם תרצה אעביר לך את המספר שלו
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You might be doing the right thing or maybe not. I tend to think you would be better trying to ask around because I really feel like crypto is going to go up a lot in the next months and years. If that is the case you might be better to fill those report as best as possible and claim such if you ever accuse of anything. Ask around to those who are filling those papers as best as they can. Anyway, not matter what your decision is, it's not an obvious one.
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Crypto might do well, but the goverment needs a serious shakeup from the supreme court to behave in a finelly manner.
Maybe they'll try to enforce it on the wrong person
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seems there is some good news from IL in last 2 days
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Why don't you move to another country?
I don't think losing the opportunity to participate in crypto is good man.
I am seeing your account and you are a whale (congratulations), so moving for you should not be so difficult? I am sure you know there are a lot of cheap and crypto friendly countries.
Good luck, and I hope you can find a way to keep being active in steemit.
Cheers!
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I honestly might do that in a few years
I bet some countries might even give citizenships to hodlers, to get some of that crypto money
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try Panama!
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sorry to hear this.. it seems Israel is not the only country who are being overly aggressive with tax and restrictions.. that is concerning that it is enough to prevent you even engaging with crypto!
thanks for sharing as its good to know this
shalom
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Well I totally get it to be honest I wanted to give tax in Turkey but they don't have clear regulations how to tax it if I get caught by any chance I need to provide some kind of documentation but they don't even know what kind of documentation so it is not regulated I don't get they catch people for that but still current state in Turkey is quite bogus ! Hope you come back when they fix it
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Well, I'm sorry to hear that! I just stopped by to say thanks for your support. Good luck on finding somewhere friendly. I think many of us are just ignoring the regulations in our various places in the world, until it becomes impossible. Good luck my friend!
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וואלה עצוב לי לשמוע, לא יודע אם זה הדבר הנכון לעשות
מה אומר לך שזה לא ישתפר בעתיד?
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לך תדע מה יהיה, אני יודע רק מה יש עכשיו
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It's simply doesn't make sense to be in an allegedly democratic country and not been able to do what you want to do.
"Bureaucracy kills people's ability to try new ideas." (Walter O'Brien)
I believe people should fight obstacles not surrendering to it
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Someone with more risk appetite might, I'm sure that when they'll try to enforce it. The investors will drag them to court
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Man, sorry to hear that. I hope you find somewhere else more allowing that you like just as much man. It's not much better in the US. But you could keep your witness here.. hope the laws become more inclusive. Best of luck man!
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It makes me sad 😔
Good luck in what ever path you take dear Roman!
המון בהצלחה, בתקווה שנראה אותך שוב חוזר אלינו ואת החוקים מובהרים בצורה נורמלית לטובת כל עולם הקריפטו.
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Best of luck to you and I hope things get favorable in Israel.
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Thank you for your service Crypto Rick
You are my top upvote contributor thanks to the vote selling market :P
Cheers man.
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Ohh man .. that's really sad! :(
I hope you will find a way - STEEM is just getting started.
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Sorry to hear this. It's a shame all these regulations are being placed on every day folks that what to better themselves.
But since you are powering down how about an upvote before you do and make a fellow steemian a very happy person. Lol
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Before you leave I just want to say thanks for the support!!!!!
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good luck ! Hopefully you come back
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Wow. Leave like this?
In which country are good about cryptocurrency? - It's all scary...
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Are you using an autovoter?
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Good luck to you, we will wait for you to come back.
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Sorry to hear you're leaving. Hope you'll return someday.
Politicians hate what they fear. They create burdens and harass what they wish would disappear. They despise decentralized blockchains. They hate them because they fear them. Why do they fear them? Because decentralized blockchains pay people to organize.
In the past, people had to pay to organize, and due to the high cost, they could not organize.
Politicians are terrified of the unorganized majority organizing, because only organized groups have a concentration of force. Those who do not have a concentration of force have no power.
If a hundred million people are subsidized to organize, they will organize. Such a group, unlike an unorganized mass, cannot be pushed around by politicians. This is the reason socialist countries, who understand organization, are trying not so much to collect any revenue but hinder any and all usage of cryptos. They don't want the public organized. An organized public can resist politicians and eliminate corruption for starters . . . which is the lifeblood of politics.
Thus China banned decentralized chains, while many other countries are trying to make it a hassle and very costly for single individuals to deal with the regulatory burden and therefore unable to officially use decentralized blockchains.
The banking industry sells a credit card machine with 500 in fees each year plus percentage of sales. The same transaction with decentralized crypto can cost a flat 0.01 for each transaction. Banks are poor investors and make most of their income from financial services. The result is they fear and hate and lobby against decentralized signed databases.
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Would you consider selling your witness server? As one of the core #promo-steem group, I'd like to perhaps buy a running node, take it over and use it to get @steem-ambassador as a witness, where all the rewards it earns would be pumped back into the STEEM community to assist promoters all over the world? Please give me a heads up if that's something you'd be interested in. Many thanks!
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אנחנו נתגעגע , אחי !
תודה על הכל
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That's a damn shame but I understand. I hope the US doesn't get too stupid with taxes. My biggest concern is if the gov wants a piece of the pie they damn well better set up a crypto wallet to receive it. They should be subjected to the same volatility that we are. It would be bullshit otherwise.
I just created something also on the abuse fighting front that I figured you may have been interested in and had messaged you yesterday. If you have a moment, check out steemit.chat.
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what is the problem bro? I was once here back in 2016 but i left and could never trace my account again so i had to open a new one. Things looks really complicated now as there is too many tussle, but we could scale it together bro...can i chat u up on Steemchat or Discord?
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The goverment can't be scaled
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so this is very interesting to me. I understand you are powering down but what will you do with that load of money? Are you going to face the tax consequence? How will you actually get your hands on it or will you leave it in a wallet until a later time?
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:( so sad, i'm really sorry
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I would suggest that you just move to other country for the meantime. The popularity that the cypto is getting now (especially STEEM) is just enormous man and you would not want to miss that. It's always good to think again than and again before finalizing a decision. Till then, good luck to you man.
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Since you're interested in the crypto space, follow this page as well. I’m a big fan of Lucyd. Lucyd is launching the LCD token to decentralize the AR revolution. They are designing smartglasses that paired with a blockchain app ecosystem. Follow this LucydICO update page for more information! Upvoted you!
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It is so sad to lose someone like you on Steemit.
I am a witness aswell, but i am not at top 20-50 or 100
I have never seen you before, and i bet you have never seen me aswell, i just want to try my chance and ask for a witness approval
Would you give me a hand, a boost before you go?
May the karma be with you...
https://v2.steemconnect.com/sign/account-witness-vote?witness=ewq&approve=1
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Bureaucracy hinders development...
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@imacryptorick
Why govt dont support such good thing?
I mean whats wrong in steemit?
I hope isreal govt will think over crypto..
I am from india, but i read many good thing abt isreal
Ur defence, innovation, agriculture, weapons r would class.
I even hope isreal govt will take +ve view towards steemit/crypto
U know ur r WHALE!!!
Man quiting on this stage can b biggest mistake.
Even i understand providing of number of paper to show ur this income legal will b irritating.
But plz think over it u can change many ppls life by appreciating their work by ur power..
I hope u dont quit...
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@imacryptorick Best of luck :)
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Powering down is gonna take a long time considering the amount you have invested mate ,consider delegating your SP instead mate and please dont leave, things will get better.
Like during the industrial revolution many government threw all machinery fearing that people will loose their jobs. Now much later they are all in for technological advancement because they don't have a choice.
Countries/institutions against crypto will sooner or later embrace it, they wont have a choice!
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I really hate to see someone get "regulated out".
If they ever lighten up please do try to come back here.
I really admire your honesty and integrity in your decision.
Best of luck to you.
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Come on, I belive you can still find a way to avoid all those taxes
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There are plenty of anonymous wallets and miners where who is mining and where it goes are completely opaque - especially with Z cash and ETH.
You can get a wallet on your phone that has a built in exchange, an account on anycoin, and a paypal account with any email you want.
You just need to keep track of all the usernames and passwords and use an anonymous email service.
Not that hard.
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are you suggesting him to become a criminal ?
we want to pay tax, some of us are thinking it is important and helping the place we live in, but we also need it to be fair...
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Lol the amount of people who openly suggest such things on a blockchain of public record is just... lol.
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i don't even know you, but your post makes me feel for you :-(
i wish you the best ! i have the feeling you will do well whatever
you decide on!
Take care ! :-)
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Sad to hear.
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good day, pay attention to my account, I pay a fee for your votes from 50 to 70 % of the program sbdgiveaway, I will be glad to meet and communicate further)))
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Jeez, the old Israel government no how to dish out a shit deal. I bet those bastards have bags full! All the best :-)
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Hello, I'm sad to read this post, but I hope that maybe since it's a month old you've decided to stick around. I am impressed by your curation efforts and I think that Steemians like you are very beneficial to the platform. Hopefully, the tax authorities in your country will grow to accept crypto more as time goes on. Anyway, I just wanted to thank you for sticking around for a bit and being a great Steemian in the process.
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Click on any badge to view your own Board of Honor on SteemitBoard.
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Powering down with this price must suck big time. I'm searching my bed and shoes to buy more lol :D
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sorry to hear this i wish you the best of luck
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So, next investment will be in real estate? It's the best investment I can think of.
Good luck in whatever you're going to do next. we'll miss you <3
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Your level lowered and you are now a Minnow!
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Congratulations @imacryptorick! You have received a personal award!
Click on the badge to view your Board of Honor.
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