| Halaman dalam topik: < [1 2 3 4 5] > | Bitcoin for Translators - Why Not? Penyiaran jaluran : OG Pete
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| | andy13923
Australia
Bahasa Inggeris hingga Mandarin Chinese
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| No for bitcoin | May 13, 2021 |
With that change in the bitcoin pricing, don't really want to receive bitcoin as payment.
| | | | Adieu 
Bahasa Ukraine hingga Bahasa Inggeris
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People who wanna dodge the taxman in high tax rate jurisdictions might be into it, fluctuations be damned.
| | | | Matthias Brombach
Jerman
Local time: 08:48
Ahli (2007)
Bahasa Belanda hingga Bahasa Jerman
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...after almost three years, what do you think about being paid with Bitcoins? Does somebody here has any experience which she/he would like to share, please (apart from scamming attempts)?
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I also want to know what's happening with cryptocurrencies these days? I know that on some places in the world there are ATMs for crypto, whole network...
And we shouldn't be paid with crypto, because we all know that they aren't hard currency, they can go down and up in anytime.
| | | | B&B FinTrans
Jerman
Local time: 08:48
Ahli
Bahasa Inggeris hingga Bahasa Jerman
Gjorgji Apostolovski wrote:
And we shouldn't be paid with crypto, because we all know that they aren't hard currency, they can go down and up in anytime.
If you're trying to avoid the volatility of, say, Bitcoin, you might consider a stablecoin pegged to the euro or the US dollar.
But even with these stablecoins, you can't escape the exchange rate volatility of the underlying fiat currency (you can use Forex hedging, of course).
For example, if you're living in the EU and getting paid in USD, your dollar account has already lost more than 10% in value against the EUR since January... so much for that 'hard currency'! 
| | | | Christine Andersen
Denmark
Local time: 08:48
Ahli (2003)
Bahasa Denmark hingga Bahasa Inggeris
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| I still want money that can pay my bills | Apr 28 |
No one I trade with uses cryprocurrency.
I already juggle with Danish Kroner, British pounds and Euros, and the banks earn their share on transactions. I am simply not interested in anything I cannot use with my bank card or as plain cash in a physical shop.
| | | | | no good comparison | Apr 28 |
B&B FinTrans wrote:
Gjorgji Apostolovski wrote:
And we shouldn't be paid with crypto, because we all know that they aren't hard currency, they can go down and up in anytime.
If you're trying to avoid the volatility of, say, Bitcoin, you might consider a stablecoin pegged to the euro or the US dollar.
But even with these stablecoins, you can't escape the exchange rate volatility of the underlying fiat currency (you can use Forex hedging, of course).
For example, if you're living in the EU and getting paid in USD, your dollar account has already lost more than 10% in value against the EUR since January... so much for that 'hard currency'!
Yeah, but the crypto fluctuation is larger and unpredictable than USD conversion rate to EUR.
Every bank, exchange office will charge us for conversions, of course, that's their profit.
And I don't know how crypto works, you must pay some fees to someone for withdrawing...?
And like Christine here said, we must pay the bills, and here in my country crypto isn't allowed.
And crypto should be like internet currency maybe for online shopping or paying subscriptions, but in the real world, not online, real money rules.
[Edited at 2025-04-28 16:02 GMT]
[Edited at 2025-04-28 16:05 GMT]
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Daryo
United Kingdom
Local time: 07:48
Bahasa Serbia hingga Bahasa Inggeris
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| There is certainly the huge advantage | Apr 28 |
that all you need to receive a payment is a connection to Internet - from anywhere in the world.
But when it comes to what you can do with your pot in any cryptocurrency, advantages are far less obvious.
Wildly fluctuating values, the need to convert into 'normal' currency before making most payments, the cryptocurrency possibly vanishing in thin air without any warning, all that does not sound very attractive.
For the time being, I'll pass ...
| | | | Samuel Murray
Belanda
Local time: 08:48
Ahli (2006)
Bahasa Inggeris hingga Bahasa Afrikaan
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Here is, for example, the Dutch situation:
https://www.belastingdienst.nl/wps/wcm/connect/nl/werk-en-inkomen/content/cryptovaluta
The Dutch tax authorities do not consider cryptocurrency to be money. To them, cryptocurrency is an investment vehicle, similar to stocks and bonds. You buy (or receive) it, then the selling price goes ... See more Here is, for example, the Dutch situation:
https://www.belastingdienst.nl/wps/wcm/connect/nl/werk-en-inkomen/content/cryptovaluta
The Dutch tax authorities do not consider cryptocurrency to be money. To them, cryptocurrency is an investment vehicle, similar to stocks and bonds. You buy (or receive) it, then the selling price goes up or down, and when you sell it, you make a profit or loss. If you get paid in cryptocurrency, then from their perspective you are being paid in kind (i.e. in natura).
That being said, as far as I know, you are allowed to invoice in cryptocurrency. As always, if you invoice in any non-euro currency (including cryptocurrency), you must calculate that amount's euro equivalent on the date of the invoice, and include that euro amount in your bookkeeping as turnover. This is also the amount that is used for filing VAT returns.
As always, if you then end up being paid more than or less than the invoiced amount, then you must take that increase or decrease into account as profit or loss (i.e. a business expense) when calculating your income for income tax purposes.
If you receive cryptocurrency, you can convert it to euro (i.e sell it for euros) at any time, but you must make sure your bookkeeping system is capable of handling the buying and selling of investment vehicles such as stocks and bonds as part of your business operations. If you use a simple bookkeeping system, then I believe the best option is to convert the cryptocurrency to euro as soon as you receive the payment.
Whatever cryptocurrency has not been converted to euros (i.e. has not been sold for euros) at the financial year-end, is considered investments, and its value is calculated at either the current market rate or (if you bought it) at the rate that you paid for it, whichever is lower, and this is taxed in the same way as any other similar investments are taxed.
If you declare your personal investments separately from your business' investments, then you can only consider the cryptocurrency to be a business investment if you acquired it as part of normal business operations (e.g. when someone pays you in cryptocurrency). ▲ Collapse
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Actually you answered my question from a couple of posts above. So there are regulations in Netherlands, huh?
These cryptos for me are like casino chips where you must go to the register to convert them into cash. And their value is like stocks, like you have mentioned.
Anyway, anything has value, or better say is valued by others. And we all know that the primary form of trade was barter.
So we provide services, and they give us something that has value, and then we exc... See more Actually you answered my question from a couple of posts above. So there are regulations in Netherlands, huh?
These cryptos for me are like casino chips where you must go to the register to convert them into cash. And their value is like stocks, like you have mentioned.
Anyway, anything has value, or better say is valued by others. And we all know that the primary form of trade was barter.
So we provide services, and they give us something that has value, and then we exchange that into real money, or better say we sell it (and you have already explain all IFs with the prices regards crypto).
And I don't know exactly when the first money, and the money system was introduced, but you see the crypto isn't money, it's just something with variable value that you have to exchange it, or better say sell it to get real money.
So for example, I have sheep, a car, a watch, and crypto..., but I don't have money. In order to have, I must sell it, for which price, well...
And then what they are doing with that crypto? They are trading it like normal currency on international markets, right? ▲ Collapse
| | | | Samuel Murray
Belanda
Local time: 08:48
Ahli (2006)
Bahasa Inggeris hingga Bahasa Afrikaan
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| I'm warming up to it | Apr 29 |
Matthias Brombach wrote:
After almost three years, what do you think about being paid with Bitcoins?
I have no experience in this, but I'm beginning to warm up to the idea. It's a potentially simple way of receiving money -- no more complicated than using PayPal. (Where it gets complicated is that you need to choose which crypto exchange to use, as there are hundreds to choose from.)
You start by choosing a well-known currency such as Ethereum. You create an Ethereum account at a crypto exchange such as Coinbase. You log into this account with a username and password. Then copy your crypto address (a.k.a. public address, receiving address) and paste it in your invoice, in the section where you list your accepted payment methods. You do not invoice in the cryptocurrency itself -- you invoice in a fiat currency like EUR or USD. The client sees the crypto address on your invoice, then copy/pastes it into his own exchange account, specifies the EUR amount, and hits "send". Minutes or hours later the Ethereum appears in your Coinbase account. Then it's a two-step process to withdraw it: first, you convert the cryptocash to EUR (at Coinbase itself), and then you withdraw the EUR from Coinbase to your bank account.
Where it gets annoying is when a client insists in paying you in a different cryptocurrency, then you need to create a separate account at the crypto exchange for that currency and then send the crypto address to the client.
The important thing is that you do not leave the cryptocash in your crypto exchange account -- you withdraw it to your bank account immediately. Otherwise, if the crypto exchange gets hacked, or if you fall for a phishing scam, or if the crypto exchange flags your account as suspicious, you may lose your money. If you want to keep the crypto currency as crypto currency, then you may wish to transfer it from the crypto exchange to a separate wallet for safekeeping... but that is where things get very complicated.
AFAIK, the person who initiates a transaction pays the transaction fee. This means that if you invoice EUR 1000 then you should receive EUR 1000's worth of cryptocash. But you'll pay a transaction fee when you convert the cryptocash to EUR (since you're the one initiating the transaction), and you may pay a transaction fee when you withdraw the EUR to your bank account. It can take seconds or minutes or hours or even days for the cryptocash to be transferred to you.
[Edited at 2025-04-29 11:36 GMT]
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| real money more secure | Apr 29 |
Thanks for explaining the steps for crypto, but I'll stick to the real money. They are more secure, more hard currencies, and more simple for transactions.
As far EUR concerns, EUR is most hard currency still, and I read somewhere that EU wants to ban Visa and MasterCard and make their own European.
| | | | Barış Taşkın
Turki
Local time: 09:48
Ahli (Apr 2025)
Bahasa Inggeris hingga Bahasa Turki
I have been translating texts related cryptocurrency and blockchain for the past 7 years.
It has been a very broad field and it's really fun learning those terms and also investing for yourself at the same time!
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