Nostr Web Client

Not sure what day I’m on. But still working on this Dutch translation of the nostr:npub18kpw3akvdsyk239lx0jgwksr74sq4nlha3r8u9g2rnrhztfpfhysy469c4 website.

Currently working on the Accounting tab, and that had me thinking.🤔

It says that if you automatically sell 100% of the Bitcoin you receive for dollars, you don’t need to make changes to your current accounting.

Now maybe it works that way in the US, but I’m not sure about Europe tbh. Since I’m translating to Dutch, I assume I’d use Euro as a currency too?

I guess it could work like this? But I’m not sure at all.

Anyone who can clarify that for me? Preferably a European 😁

nostr:npub1sec6degc3ae7warveuxaz6dlffnc2sutwtqjr7pmll7sf7ypjngsd4p0l7 nostr:npub1p6xyr6u5vet33r4x724vxmp9uwfllax5zjdgxeujyrtxt90lp74qvah0rm maybe one of you’ve got the answers?

#bitcoin #asknostr #bitcoinaccounting

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Discussion

Mindaugas 1y ago

In my country we have an income tax which is 15% of a difference between the price bought and the price sold. For example, I bought 100eur worth of Bitcoin yesterday, today they are worth 110eur. I am selling them for euros, so I have to declare my 10eur profit and eventually pay 1.5eur in taxes.

binsky 1y ago

Yeah I believe in Belgium it works a bit different. As I’m translating this website, I’m learning too, like for instance, I didn’t know about Hybrid wallets that can convert your Bitcoin income to receive a local currency. So maybe when it’s done instantly, you wouldn’t need to pay taxes?

Mindaugas 1y ago

There might be some hybrid wallet solution which can help everybody, but I am too much not family with that.

bitcoin.rocks 1y ago

Thanks for your work on this! The guide is targeted towards US businesses, so maybe you could add a note about that?

binsky 1y ago

Oh sure! I can add it

bitcoin.rocks 1y ago

Thanks!