Good luck enforcing and applying it. How will they differentiate between income and simply moving one's assets around?
That's why many US-based exchanges now getting stricter with personal identity verification. They want the KYC verification to handle any US citizen, They want to take over the decentralized things and forced it to become centralized in anyways. But the truth is government regulation is the only way for cryptocurrencies to be widely accepted in the worlds. 
Topic: Bitcoin can be taxed, How will that affect the investment? (Read 318 times)
Bitcoin, the largest and most well-known digital currency, operates under anonymity but can track traces as it has electronic diaries that track every transaction. Although all buyer and seller information is a string of letters and numbers, there is technology available to track and capture illegal bitcoins.
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I think taxing bitcoin means making our path clear from the regulation. I mean we don't need to worry about the regulation changes, bans, limitations on use of crypto etc etc because if it is taxed then it means government is already taking care of the regulations. Thus there will be no more hypes whether bitcoin is going to be banned etc etc and thus people won't get panicked and won't sell off the stuff making the market unhealthy. Thus everything will get in line and bitcoin can see some good space to grow itself.
Bitcoin, the largest and most well-known digital currency, operates under anonymity but can track traces as it has electronic diaries that track every transaction. Although all buyer and seller information is a string of letters and numbers, there is technology available to track and capture illegal bitcoins.
BTCBTCBTC
As long as your not using any centralized wallets or exchanges that requires verification from its users you are still anonymous, transactions are transparent, it cannot be rewritten by anyone nor delete so the catch is you own the private key, no KYC compliance, and ID verifications you are anonymous, but there's a way to cover your transactions trail and that is by using mixing services, you can search that so you can fully understand how it works, Google is a powerful tool. BTCBTCBTC
That might be good for bitcoin as it makes bitcoin legal. But it affects the profitability of investors. Investors must pay taxes to the state. I think this is good for investors because it makes bitcoins safer and more stable.
I am not sure paying tax and regulation mean you are safe as an investor,what every government will be implementing is to make transaction of money in and out of exchanges transparent and some of them are implementing strict rules to allow only native residents to trade in their exchanges ,which makes things hard for people who likes to arbitrage when you see a price difference. I really hope there will be some countries where crypto currency be accepted as a free heaven .
I think this what the government wants, to impose and implement taxes on cryptocurrecies,because its spreading all around the world and many countries had adopted the digital currency.I believed that thru taxation people who dont believe on the digital currency ,will makes to their mind that it is legal and i think many people will invest.
That might be good for bitcoin as it makes bitcoin legal. But it affects the profitability of investors. Investors must pay taxes to the state. I think this is good for investors because it makes bitcoins safer and more stable.
Good luck enforcing and applying it. How will they differentiate between income and simply moving one's assets around?
Hopefully, the tax imposed on trading would stifle the ability of those whales trying to manipulate the market with their pump-and-dump scams, which IMO is significantly negatively impacting the whole market/community and attitudes towards cryptos.
I think if bitcoin is taxed, then bitcoin is recognized as legitimate, which would be good for the development of bitcoin.
I think that taxing on bitcoin would be good. The investors will have to pay a fee like 5-10% when selling it only and the tax should not be collected from bitcoin holders. This way the price of bitcoin would go up very fast. There are however ways to evade taxes and people who are bad persons knows these ways really well. Overall taxation for bitcoin can be a good thing for the bitcoin ecosystem , always only when it is applied for people who are selling it, and not buyers or holders.
No a tax like that will be fine but that is not what they want, they want you to pay the same taxes as stock holders and depending in the laws of your country that can be way higher than that and you can be sure that if bitcoin goes up a lot in the price we may see special taxes and way higher tax rates, this is what I think it is going to happen but I could be mistaken. 
I think that taxing on bitcoin would be good. The investors will have to pay a fee like 5-10% when selling it only and the tax should not be collected from bitcoin holders. This way the price of bitcoin would go up very fast. There are however ways to evade taxes and people who are bad persons knows these ways really well. Overall taxation for bitcoin can be a good thing for the bitcoin ecosystem , always only when it is applied for people who are selling it, and not buyers or holders.
Like what usually happens in our salaries. Instead of getting the whole amount, you'll get a net pay based on how much tax will be implemented. It might be bad for small investors. The only one who will benefit of it is the government. Because of bitcoin's huge value and many people who are using bitcoin, imagine how much money can a government obtain from them and will it be used for the benefit of people or will they keep it in their pockets.
From a simple demand/supply perspective you could safely deduce that tax will reduce demand. It in essence reduces profits and so makes bitcoin a less attractive investment. From that demand would fall and so subsequently would the price. Alternatively you can argue that tax leads to a reduced supply as people are less willing to sell and take profit given that they'll be heavily taxed on it.
Everything in this world is taxed in the same way bitcoin is taxed but demand in crypto currencies wont change
If Bitcoin is getting taxed then the Government knows that Bitcoin can be used to generate income.
Everything in this world is taxed in the same way bitcoin is taxed but demand in crypto currencies wont change
Bitcoin can be taxed, how does it affect investment? It certainly affects everyone who wants to invest in bitcoin because it is taxed on bitcoin. Perhaps no one else is willing to invest because it is taxed.Taxation of crypto currency in the future should be a phenomenon that exists in a country. The tax liability can affect the amount of investment. Because the use of crypto currency produces good profits.
Only if you buy and sell bitcoin for your native currency you shall be taxed. Or if you use a exchange where they track your data. But sending and receiving bitcoins or anything else won't be taxed AFAIK. Obviously it won't be best for my investments as I could use the money I pay for tax for a better investment. But paying taxes is also my duty. So whatever required shall be done even though I may not be the biggest fan of it.
Taxation of the crypto currency in the future should become a common phenomenon. In any case, the states will use the opportunity to establish a tax on the income received from operations with the crypto currency and on capital growth in the crypto currency. Just the taxation conditions in different countries will be different. Probably there will also be a temporary exemption of citizens from these taxes as it was done in Belarus, where all taxable subjects are exempt from such tax for the next five years. The duty to pay such taxes is unlikely to affect the amount of investment in the crypto currency. Since the employment of a crypto currency brings a good profit, it is better to partially lose it in the form of a tax than not to have any profit at all.
i dont know of nigeria under the new tax law, but i know bitcoin is taxable in united states of America.
At the very least, taxation of bitcoin means acceptance by the state in the country. This is much better than the ban, since it is better to pay for the use of bitcoin than not to do it at all.
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