Denniz

Good point. That is true for all Stablecoins. The question is, do they have the liquidity?

Right now it is very very profitable for them. They can earn interest rates for free, without a high risk.

The funny part is, that it kind of tend to get worse during vacations. Not a psychologist, but guess when I try to work hard and focused, all the "pending" stuff is suppressed. On vacations in comes, I'm more relaxed, and it comes out.

Thanks a lot! Will give at shot. Really appreciate the repsonses on hackernews. Got a lot of hints how to move forward.

Yeah life become complicated. I mean in a sense that the decision space got much bigger. Now thinking a lot if I'm really in the right place/country if things moove so slow. Trying to outsource things is a good idea. Guess this is the way to go.

Did it already, thanks for the hint!

That is also a point. I wanted to onboard people or make it bigger. But wanted to cash out and resolve any tax liabilities first. Both didn't work so far. So I'm on my own.

Thanks a lot for the hints.

1. You are right. Everyone knows this, but yeah not always easy to follow. Especially if you are off balance.

2. Guess in my case, the most important things I want to solve take a long time.

3. Exactly. Regarding the tax guy. I had/have one, he was very responsible. But when he got the money, he became very slow. Still answers. But is extremely slow. Maybe will find someone new, but currently it doesn't make sense, since he is finishing his work. Every week he tells me a few more days.

4. You are exactly right. Money didn't change anything. It is just a number. Kind of ready to take losses, to get lower stress. Still, so far couldn't execute, since the most secure options refuse the service or need very long for onboarding.

I think it is a good idea to have some wealth in crypto. But it is just crazy to have all of it. Especially, since in my case, most of it is in stablecoins. So could get nearly 4% in USD if it was on a bank account.

PS: The whole situation is really strange. Guess that sucks most. I did everything according to the book. Did my tax returns. Didn't hide anything. Looking back, I really question the whole thing. I could just go far away. Cash out. Don't pay a penny, instead of nearly 50%. Would have less stress for sure.

Thanks a lot for the advice. I will try to do all of the points. Right now in the 'fuckt it mood', so ready to get losses just to resolve everything fast.

Hope things will resolve for you as well! Cutting off social connections actually made it worse for me.

How would you do emotional introspection? Guess not ready for psychedelics. Already have a wild fantasy

Thanks, that kind of helps, and the quote" Getting Government Permits to get small samples. Should take 90 days. We are on day 160. " Is exactly what is going on. Although it is not always the Government, but rather accountants, lawyers and so on.

It was just most convenient choice. Good airport connection and as you said it's rating is quite high. Guess the language would be the most annoying thing. Other choices would be Malta or Cyprus regarding taxes, but they are far away and I think the cultural match would be in Swiss higher.

I want to thank everyone for the answers here. Really appreciate the open and honest discussion on hackernews. It helped to see things more clearly. Thanks a lot again and stay healthy!

Exactly that is what worries me most. Even lawyers tell they don't know how it would be played out in the long term. Worst case would be: Being taxed very high and then forced to move to an other country.

Doesn't work or very difficult to do. CFC rules.

Yes I'm over 30 and it is time to get married, although didn't find the right person yet. But what you wrote doesn't work in my country so easily. According to the foreign tax law, even in such case you would be taxed. Even worse you could be sued for tax avoidance. So it is possible but more tricky, like you should rent a hotel each time you come for a visit.Something like this is what I had in mind.

Anyway the question would be how that kind of life style effects happiness, mental health and so on. Really difficult to tell.

Not that easy. CFC rules. Actually if you want be in control it is very difficult to make it legal.

Thanks a lot for the tee-shirt. Actually one of the best answers here. Especially point (1.). You are completely right, I should wait till things calm down regarding covid and then should at least visit Zurich one time. Guess right now might be the wrong time to think about it. This question really consumed already so much mental power...

Thanks a lot! Yes, guess a hard one as well.

There do not exists clear regulations. So you can't tell exactly how taxes will be calculated. Also you can end up by other regulatory laws that will just make things more difficult. As said somewhere else, I saw companies liquidated themselves in as similar area. Created a holding. Moved then to an other country (of course less regulated). Actually that is sad that this is happening.

Yes exactly. But the risk is on both sides: - moving away -> New environment. Productivity goes down. - staying -> Risk of regulatory uncertainty. Could take even years till taxes are exactly determined.

Thanks for the answer. I really don't have any moral issues with my liability to the government. As I said not satisfied with their work. Some regulations are killing business. And what I'm doing is highly unregulated. So they didn't do their homework. But in the end it is actually for me a more personal decision. Yes you could say greedy. But greedy is also an optimization algorithm.

That is a point of course. I'm thankful for the education I got here. No question.

On the other hand I already payed a lot of taxes. And my father retired few years ago and is treated really bad after he worked more then 20 years. Actually he is treated like he never worked at all. So that is what I mean regarding tax policy.

In my opinion you can't say someone isn't paying his fair share if he pay lets say 400k on a 10% rate. He is still contributing much more then the average and I think he should not be treated like a "criminal".

I once made that decision, to move away to another city for 4 years. So can definitely agree that it is one of the best experiences to move away, at least once. On the other hand not sure if I would be ready to settle down for example in Zurich.

Also, governments lookout for you. So basically if you start a business in my country and are then not satisfied, it becomes much more difficult to move away. You will have to pay a tax on the liquidation value of your company. Actually I never dealt with this stuff and was surprised about all the laws around this topic.

"don't do anything just for money if you can help it -- and you usually can." Can't agree more. Been always my mindset as well. It changed a bit to be honest as I'm thinking about paying multiple millions in taxes that can be avoided just by moving to another city. Especially since the Government actually wasn't able to provide a good and fair regulatory framework. So there is a non-zero risk that they could kill the company.

Actually it would help to grow the business. Especially there is regulatory uncertainty regarding what I'm doing in my country. Saw already few companies in a similar area liquidated themselves and moved away. Maybe they just wanted to save taxes, but I highly doubt it.

I'm not in this area. But here is some example what could theoretically happen: You're starting a twitter clone and the Government says you are responsible for every post on your platform. You get sued and you are done. Right now this wouldn't kill me since I could always move on. But it could cost a lot and possible give a huge setback.