Italian government surfing on bitcoin wave

[cryptofriendly]

void said:
it's quite easy to become perpetual traveler however way more complicated not to be seen as tax resident (anywhere)
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You are right of course, it depends on the individual circumstances and citizenship, as well as the countries of (temporary) residence. Much harder as an US citizen, or someone with a property, or wife and children that reside somewhere officially.

But fortunately it's not impossible, and of course it's easier if one doesn't run a business at all, stays away from US/EU, and has no need for bank accounts or brokerage there. No business -> no income -> no tax.

 

[cryptofriendly]

JohnnyDoe said:
Again with this PT nonsense?
Read this: https://www.offshorecorptalk.com/th...al-compliance-requirements.43814/#post-288350
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It might be a little OT, as we are here at offshoreCORPtalk, but no income generating business -> no taxable income -> no tax.

There are still places where 'crypto bros' could care less if they are PTs or residents, as crypto isn't recognized nor regulated or taxed there. Being a PT is just a second layer that by keeping moving around helps avoid doxxing issues like that: https://github.com/jlopp/physical-bitcoin-attacks

(Of course only if they officially ceased their residency in their home country, are not US citizens, don't have any connections to their home country and even better if they don't even visit there. Even better if one can insert an official residency in a second country (none of the EU) and ceases being resident there as well (officially and visa-wise) before doing the PT thing. I That should be good enough, no?)

Last edited: Dec 4, 2024

 

[W Fish]

void said:
the real fun will start with first serious government with balls big enough (or desperate enough) to print fiat to buy BTC and back the currency with it - I can't wait to see race for not being the last idiot - do I sound like a lunatic? I think it's rational and inevitable
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That is what El Salvador is doing without printing fiat.
Or Microstrategy. They print both fiat (stock) and debt papers. 😉

Should start a LLC in Europe and copy them. 😉 Plenty of companies in Europe who would buy...
https://www.cointribune.com/en/allianz-bets-2-6-billion-dollars-on-microstrategy-and-bitcoin/

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[void]

cryptofriendly said:
or someone with a property, or wife and children that reside somewhere officially.
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exactly 🙁

cryptofriendly said:
But fortunately it's not impossible, and of course it's easier if one doesn't run a business at all, stays away from US/EU, and has no need for bank accounts or brokerage there. No business -> no income -> no tax.
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you mean it's easier for people that actually don't have any reason in this regard 😀

sad truth is that an active EU citizen with family/kids, properties, businesses and all the usual ties is stuck pretty much - good for those few who managed

 

[void]

W Fish said:
That is what El Salvador is doing without printing fiat.
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that's why I said

void said:
serious
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anyways, it was in Oct - now it looks pretty different and it's just a matter of time when it happens with domino effect that will be fun to watch... imagine all the mafia organizations that have to involuntarily buy BTC or perish

W Fish said:
Should start a LLC in Europe and copy them. 😉 Plenty of companies in Europe who would buy...
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it's not that easy... not everybody is in a position being able to raise money as cheap as muti-billion publicly traded companies - MSTR exploits a unique opportunity that's not available to everybody - for those in the same position it's a nobrainer - let's see what Microsoft decides to do on Dec 10th

 

[void]

void said:
let's see what Microsoft decides to do on Dec 10th
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so Microsoft and its shareholders think that it will be wiser to wait when it costs 500k or 1M... well played and congratulations

 

[JackAlabama]

void said:
so Microsoft and its shareholders think that it will be wiser to wait when it costs 500k or 1M... well played and congratulations
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well looking at the garbash this company produces (including its founder) I do not wonder about that outcome by its shareholders.
Not using any MS product is more rewarding by the day (and easier than anticipated).