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From: Mild Shock <janburse@fastmail.fm>
Newsgroups: sci.physics.relativity
Subject: Bitcoin crashing again / Gradual rug pull (Re: choice of a foreign
 functional currency)
Date: Sun, 2 Feb 2025 15:07:36 +0100
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Hi,

Every weekend bitcoin is crashing:

ca. $98'000 Bitcoin Exchange rate (02.02.2025)
https://coinmarketcap.com/currencies/bitcoin/

Thats the perfect Bitcoin gradual rug pull.
During weekend the whales are disposing of
their Bitcoin. During the week, when the

other stocks markets are open, idiots are
buying Bitcoin via ETFs.

LoL

Bye

Mild Shock schrieb:
> Hi,
> 
> They are plannig to apply some averaging:
> 
> On 1 January 2023, most of the provisions of the
> Revised Company Law will come into force. The
> resulting changes in tax law now make it clear
> that the functional currency is decisive for
> tax purposes.
> 
> In addition, it is now stated that the taxable profit
> in Swiss francs is to be determined at the average
> (selling) exchange rate of the relevant financial year
> and the taxable capital in Swiss francs at the (selling)
> exchange rate prevailing on the balance sheet date.
> 
> As a result, balance sheet items translated at historical
> rates in the annual financial statements presented in
> Swiss francs become irrelevant. While there was
> previously a certain degree of discretion in the exchange
> rates used, the exchange rates published by the
> Federal Tax Administration will now be binding.
> 
> https://pestalozzilaw.com/en/insights/news/legal-insights/accounting-and-reporting-foreign-currency-what-are-swiss-tax-implications-foreign-functional-currency/ 
> 
> 
> So basically you have two exchanges rates one
> for income, and one for substance.