I think that is a good regulation, and will improve the economy of the country.
so, I agree if the tax is used by every country for bitcoin users. unless you want to get out of taxes, then better go.
I hope all countries can manage bitcoin well. so they can take advantage of bitcoin and bitcoin can help economic progress.
Topic: Bitcoin being taxed? (Read 1729 times)
If you buy bitcoin or any other currency and you have to pay taxes or fees for tranjection.
It's good for government and It's also logical since a lot of people of last few years have made mining their job. However If it would happen in my country I wouldn't like being taxed and would most probably stopped mining.
Tax will just kill cryptocurrency, there are a lot of miners today because it was free mining but then we are still paying for the exchanger fees so tax will be really bad if it will be implemented because it will decrease the profit even more by the miners.
It may be that only taxation can Bitcoin be recognized by the government for its legitimacy. One of the big reasons why the government does not accept bitcoin is that it can not control people's assets and can not tax it. It would not do any good for them, if government taxes Tax, Bitcoin will soon be legal.
This is for sure that no tax will not legalize bitcoin in many countries because the amount of bitcoin transactions is actually quite large.
I don't think the government should tax bitcoin yet. Earnings through bitcoin is still not guaranteed. There are times that we can lose. I think they need to find other ways for tax.
I know that things like this is inevtiable but please don't take this as a disadvantage guys. Taxing is part of regulating crypto and regulation means it's much safer for new investors' perception and to avoid bitcoin getting used on money laundering and drug deals.
well this is expected, for this is the only way the government can benefit from the massive amount of money circulating in the crypto world, the government knowing that bitcoins price and daily transactions are expected to grow significantly in the coming years.
Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
This right here is mostly an attemp of the governments to adapt with the increasing and unstoppable demand for bitcoins. Thinking it wouldn't be easy to stop bitcoins, they resulted into using this demand for bitcoins to their advantage. Hence, they tax peope for mining bitcoins. Although i don't see anything bad yet, i think this is the first step of the government to take advantage of the people and tax the hell out of us. So having said that, i would probably not reveal myself being a bitcoin user. Damn taxes makes me feel chanied in the outdated system of this world
Bitcoin itself is not being taxed because it is decentralized currency. The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government
Actually i read somewhere that when one is either exchanging their cash into bitcoins or the other way round, the government in some countries actually tax the bitcoins and after that when they use it buy goods and services, they are again taxed again.
Attempting to tax BTC and other cryptocurrencies in the "general western world" in the same top down fashion would be an act of folly, besides perhaps for fiat purchased or derived coin, unless you have a complete iron curtain over your nations communications, ect - which is what Putin et al are certainly going for by criminalizing VPN use, ect, but they too won't be completely effective. Smart people will have coins socked away (with differing levels of utility depending on what you can do with them), as long as the internet still has provisions for encrypted communication, and it will as long as the is one.
They don’t need to tax your BTC though. They don’t have a way to track crypto, they can however tax your fiat income when you convert Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
I'm really against taxing bitcoins because it defeats the main feature of bitcoins which is its decentralization. If it gets taxed, the goverment takes over bitcoins one by one. Imagine that you have to pay a percentage of the bitcoins for transaction fees and then pay for tax. That's too much if you ask me.
There's a taxed or not, applied or not applied a taxes on bitcoin / crypto currencies in our respective country.. it's good if we trying to pay a taxes as we can, we must showing be a good citizen for the progress of our country and not detriment the government of our respective country.
We must not be selfish, this life must be complementary to one another. The progress of our country is very important, and with any taxes.. the small or poor people can be helped of course.
So well obviously.. for me it doesn't matter at all if indeed there will be applying of taxes in my country on bitcoin.
We must not be selfish, this life must be complementary to one another. The progress of our country is very important, and with any taxes.. the small or poor people can be helped of course.
So well obviously.. for me it doesn't matter at all if indeed there will be applying of taxes in my country on bitcoin.
I think that bitcoin should be taxed if bitcoin currency is recognized in a certain country such that the government may also gain substantial profit and helped the people that is in need. In effect, this will be bad for the bitcoin users because this will lessen the income they had made with bitcoin.
There's a taxed or not, applied or not applied a taxes on bitcoin / crypto currencies in our respective country.. it's good if we trying to pay a taxes as we can, we must showing be a good citizen for the progress of our country and not detriment the government of our respective country.
We must not be selfish, this life must be complementary to one another. The progress of our country is very important, and with any taxes.. the small or poor people can be helped of course.
So well obviously.. for me it doesn't matter at all if indeed there will be applying of taxes in my country on bitcoin.
We must not be selfish, this life must be complementary to one another. The progress of our country is very important, and with any taxes.. the small or poor people can be helped of course.
So well obviously.. for me it doesn't matter at all if indeed there will be applying of taxes in my country on bitcoin.
I think the government taxes were not just in one site. In my country, the government take actions about taxes the day or time a bitcoin user withdraws.
Bitcoin itself is not being taxed because it is decentralized currency. The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government
Actually i read somewhere that when one is either exchanging their cash into bitcoins or the other way round, the government in some countries actually tax the bitcoins and after that when they use it buy goods and services, they are again taxed again.Bitcoin itself is not being taxed because it is decentralized currency. The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government
Agreed, why don’t people get that “The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government” for some reason people thing that taxes = centralized control over bitcoin Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?
I'm really against taxing bitcoins because it defeats the main feature of bitcoins which is its decentralization. If it gets taxed, the goverment takes over bitcoins one by one. Imagine that you have to pay a percentage of the bitcoins for transaction fees and then pay for tax. That's too much if you ask me.
Until Governments start calling bitcoin currency, it cannot be taxed.
IF BTC could be taxed, you could simply not report it, because it is anonymous enough to just NOT report. lol
You could mine it, and not report it. Easy. Give me a break.
IF BTC could be taxed, you could simply not report it, because it is anonymous enough to just NOT report. lol
You could mine it, and not report it. Easy. Give me a break.
It is assumed that one of the main advantages of obtaining and paying with BTC is anonymity and skip the payment of taxes. It would not make much sense, although if for a country
You only tax profit and anyone providing a real service using BTC has $45 per transaction fees
to deduct from any tax returns and I hate to point out the profit in price appreciation of the
coin is being eroded by the day.
Tell me how often does a gambling addict walk into a casino and walk out with a profit
or are all the people in this forum stock brokers and software developers.
Lets take a inside look at what this new generation of "Day Traders" are really doing for a second
https://yobit.net/en/dice/
Yes playing dice even when they know the bankers skims 5% of the top and I am sure the average
roll of the dice will always come in at 50:50 but look closer at what is happening because bots are
playing and bet $0.0001 on the roll of the dice, few small bets from the punters for fun but can you
guess what will happen on the site if you turn up and bet $2000 on the dice or should I leave it
to other software developers to explain that one.
Spot the ball will offer greater returns and this is what the semi-pro BTC traders are doing
so when the market turns down as it will then taking money from them is going to be like
taking candy from a baby, you have been warned.
to deduct from any tax returns and I hate to point out the profit in price appreciation of the
coin is being eroded by the day.
Tell me how often does a gambling addict walk into a casino and walk out with a profit
or are all the people in this forum stock brokers and software developers.
Lets take a inside look at what this new generation of "Day Traders" are really doing for a second
https://yobit.net/en/dice/
Yes playing dice even when they know the bankers skims 5% of the top and I am sure the average
roll of the dice will always come in at 50:50 but look closer at what is happening because bots are
playing and bet $0.0001 on the roll of the dice, few small bets from the punters for fun but can you
guess what will happen on the site if you turn up and bet $2000 on the dice or should I leave it
to other software developers to explain that one.
Spot the ball will offer greater returns and this is what the semi-pro BTC traders are doing
so when the market turns down as it will then taking money from them is going to be like
taking candy from a baby, you have been warned.
Jump to: