Topic: Bitcoin holders will have to pay their tax? - page 13. (Read 4342 times)

If we want to create a crypto society. we will have to comply with the laws of the state in which we live, otherwise you will have problems with the law. If you live in a country where it is forbidden to have bitcoins, then move to another country where there are favorable conditions for this activity.

I believe that the cryptocurrency price will drop because most of them will sell their coins in the market and that is the reason why government should not apply taxes on cryptocurrency.

I think if the bitcoin traders is trying to sell some bitcoins through regulated crypto-currencies exchanges operating in that specific country, the government tax officials should be able to track the amount of bitcoins sold by a trader, as the trader would surely need to provide his personal information and documents before his account would get approve by that specific crypto-currencies exchange.

We are actually paying gases which is a burden and it would be hard to have taxes to pay. It is important that we are spending and saving enough to sustain our needs and taxes would really be a problem for us users especially that the market is in red.

If bitcoin is legal in a country, of course I think bitcoin holders must pay taxes. But I think this is difficult to implement because bitcoin is anonymous. So I think this will be a difficult choice for a country's government. I just hope bitcoin is accepted in my country.

I think and hope they will only tax the people who have invested and then earned some on which tax will be imposed. If the tax is put on every transaction, which I guess is not possible, or on every fiat-crypto trade, then it will be a bad thing as there are many online sellers who now accept Bitcoins or other crypto coins. Its better if tax is imposed upon the earnings, not in terms of each fiat-crypto trading.

Here in our country since there is no existing law about it then we don't need or we are not oblige to pay for tax since they are still in the process of learning things about what they are going to do with those who are investing in bitcoin, but as the law requires us to pay then we will follow the rules and will pay for tax required.

If this is considered at the global level, then this is possible for the better. Thus, bitcoin will officially be accepted as a payment instrument and it will be easier to use it.

This is a very interesting question, but I am more interested in how they will collect this tax? Many people keep their bitcoins anonymously and they are not afraid of these taxes...

Part of the problem comes from how slow regulators have defined their views on virtual currencies. maybe this is the reason for the difficulty of applying taxes to Crypto holders,

in my opinion, bitcoin holders will decrease with taxes, they will be reluctant to invest in bitcoin because they will pay taxes and if their bitcoin gets more, the more taxes will be paid.

Pay tax? that is no problem for me that is a small amount compared to what you are holding is that a huge amount compared to your tax payment. Don't hesitate your self to pay tax if it is needed, indeed, that makes you proud that you made contribute a little amount just for your country by giving tax.

Taxes are parts of the world's system of regulations. For the governments to recognize cryptocurrency, taxes should be put in place. These will pave the way to legalizing cryptocurrency.

but if they collect taxes from crypto, they should make new regulation.cryptocurrency is different with digital money.maybe for digital money they shoud do this.if they want taxes they must legalize it first.

I am not sure what are you willing to say exactly but as of now, I am paying taxes for the earning made in Bitcoin or any other cryptocurrency for that matter. It is true that Bitcoin is not yet legalized by most of the governments but that doesn't mean we shouldn't pay tax on it. Any gain is subject to tax (with some provisions and exceptions) in my jurisdiction so even if it is not taxable as Bitcoin but it is taxable as a monetary gain in my country.

that's right dude, if government legalize about cryptocurrency, opening member data of exchanger is their obligation.they could not avoid about it.and we could not hide our asset anymore.

government could track investor's asset from exchanger data.while government legalize it, exchanger must give them reall data of their member.so they could track how much the value of our asset.

That is no problem to the government at all. A transparent record by the blockchain can easily be blurred out. Supposed that there's a specific wallet for the government's funds. It's when they distribute it to different wallets (supposed that each institution gets one wallet for each) that will make it blurry as the more transactions that has happened, the harder it can be tracked unless they name each and every address the money was sent to. It has been a long time since the transparent records of where our taxes are going was asked by the people but to no avail. Gone are the days when people actually cared about this thing anymore. People are now more focused on educating themselves, learning how to survive in this world full of corrupt government. After all, we shouldn't be depending on the government as they were never dependable anyways.



The anonymity can be voided by KYC that's required in using our local exchanges but then again what would happen to the transactions that are done outside the exchanges. It really is hard, man, but all of the goods and services are taxed anyway and that's where our money is ultimately spent. When you directly buy something from someone using fiat, the seller doesn't have to declare that in his income tax. So in a way, nothing has changed except now you can send money overseas without the need of a bank or a remittance center.

If all can be tax then nothing will happen as all Bitcoin tax that will be collected by the government will be spend and will be return to the people in form of basic services, infrastructures and salaries of the government employees. Bitcoin supply will normally circulating in the market maintaining the balance of supply and demand as the government is impossible to hoard Bitcoin because of the TX hash and wallet address that could be monitored by everyone in the community.

it could be lower but it could be higher. take the example if the government gives a tax-making order for BTC users but with a low tax, and maybe a lot of people will be interested in BTC. maybe in my opinion those people are still afraid of BTC, maybe not all of them can accept BTC. but I believe in the end if BTC peaks there will definitely be a tax, but I hope the tax is not too high because it will be very detrimental to BTC holders.