Bitcoin holders will have to pay their tax? - page 19.

Mhd-Bobbi

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

It would be better if you have to pay taxes for BTC holders. That means the government supports all people who use BTC. Everyone wants their country to be approved by the government for those who use BTC.

Dofotonomo

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The real holder and also the trader will definitely decline. and this provides a great opportunity for money laundering mafias, although there is a tax, but keeping the money in bitcoin is much safer.

justspare

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

Those who are not rich will decide to quit and leave it for the rich dudes to compete among themselves lol. You’re not even yet sure whether you will gain anything for the month or not, and you’re talking about paying tax. If they should start enforcing tax on bitcoin don’t you know that they will charge you tax whether you gain anything or not, so lots of people are going to quit even at their first time of investing in bitcoin, cause it would make no sense.

Quote from: Lauff on August 13, 2018, 12:21:35 AM

if that happens I don't think it's a problem especially for me, because by paying taxes for bitcoin holders, bitcoin has been legalized by the government indirectly, and this is one of the main objectives of bitcoin holders

Lol, that’s very funny. Who talked about being legalized here ? It doesn’t even need to be legalized for anyone to make use of it. The only thing legalization can help to do is create a connection between banks and the blockchain so that users of cryptocurrencies will be able to make straight payments and withdrawals from exchanges to banks and from banks to exchanges and you can’t do that without exposing your full identity, cause another thing people loves about bitcoin is anonymity.

Grimjule

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Quote from: tyronecoinbit on August 08, 2018, 04:03:44 AM

Quote from: Bagaji on August 07, 2018, 06:10:02 PM

Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

It will only happen when most of the government of the world must have accepted and adopted Bitcoin as a means of exchange for goods and services in their various country. And I don't believe that will affect negatively the expansion of Bitcoin because its happen with banks and that has not stop people from not saving with banks.

Yeah, you're quite mate, but I guess no one likes to pay tax, but for me, If It is just necessarily to be deducted for the sake of our growth
economy, I will consider this situation. And we cannot decline those taxes once we have used centralized services to execute buy and sell trading, you cannot have any privacy on that scenario where as government can easily get caught on you and force you pay some tax.

Responsible people always like to pay tax. They know the importance of tax in the development of a country. Therefore I think that when bitcoin will become a regular currency then people will surely like to pay tax on their profit.

Lauff

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if that happens I don't think it's a problem especially for me, because by paying taxes for bitcoin holders, bitcoin has been legalized by the government indirectly, and this is one of the main objectives of bitcoin holders

aaeeggoo

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Why should Bitcoin "holders" pay any taxes? There is no tax for purchasing some asset. Only when you are selling it, you need to pay taxes on the profit. Well, incase crypto is covered under VAT or GST, then you need to pay some taxes. There will be two possibilities that will emerge, first bitcoin will experience a price decline due to the implementation of taxes for holders, this can happen because if bitcoin is taxed it means there is no more anonymous term on bitcoin other than that cheap fees will also no longer apply because there is tax, the second possibility is that the price of bitcoin will increase because the government provides legal guarantees for every bitcoin transaction so that fraud in the form of bitcoin will not happen because all transactions are supervised by the government

hxtop

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If the government told that all bitcoin owners had to pay taxes, it would not reduce the demand for this bitcoin. Because many people in my country avoid investing because of the lack of tax regulation.

hisuka

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Quote from: bapetdik on August 12, 2018, 06:22:59 PM

I think if it's legal in a country, then of course there must be a section that deals with taxes for bitcoin holders. But if it's not legal, then we don't need to be taxed. That's my opinion. Because it is not easy to set tax from bitcoin because bitcoin itself is anonymous

Well if government required users to pay taxes people should follow. It is legal once government have the rule about this. But hard to pay taxes since value is fluctuating maybe people will still adopt this kind of situation.

Escan0r

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

Maybe if you do that, bitcoin holders will not agree because if they pay taxes for bitcoin they hold it will make a loss to the holders. Let us think if they hold back in the long run and then the tax is more expensive than the bitcoin they hold?

bapetdik

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I think if it's legal in a country, then of course there must be a section that deals with taxes for bitcoin holders. But if it's not legal, then we don't need to be taxed. That's my opinion. Because it is not easy to set tax from bitcoin because bitcoin itself is anonymous

kidd07

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Quote from: beverly788113 on August 12, 2018, 05:17:36 PM

Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

At the present time you can see that bitcoin is very little recognized in the world and for legal use, so bitcoin is also not taxable. So many individuals or organizations use bitcoin as a tool for money laundering and illegal transactions. Because there is no state control, the price of new bitcoins fluctuates sharply and is controlled by sharks.

Bitcoin can be taxable if it will be legalized in our country. As for now the government has no control to it so it is hard for them to declare a taxable bitcoin because they don't even know who are these people are involve in bitcoin, since it is anonymous.

beverly788113

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

At the present time you can see that bitcoin is very little recognized in the world and for legal use, so bitcoin is also not taxable. So many individuals or organizations use bitcoin as a tool for money laundering and illegal transactions. Because there is no state control, the price of new bitcoins fluctuates sharply and is controlled by sharks.

paynercash

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Quote from: Altas on August 07, 2018, 06:23:01 PM

There are tax payers upon the profit they earn from bitcoin. Already some governments functional around the globe has initiated such a plan. Here the taxes were levied upon the transactions happening through the particular account. In specific traders who involve into btc to fiat trading were the one that pay taxes.

This can also be applied if they already know how they work. This is considered to be the profit taxpayers are most desired to date. Hope that should not happen or if there is a reasonable cost a bit.

pinoyden

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Yes. Bitcoin users do have to pay tax in the form of transaction fees whenever they used their bitcoins actively like for example when buying or trading . tax on cryptos is working differently when compared to tax in regular currency such as fiat money because the fees or tax that charged for bitcoin users are only payed for the miners and miners dont use it to improve the development of cryptos not only to governments that collects a tax .

yusupjatigumilar

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in my opinion there will be two possibilities that will emerge, first bitcoin will experience a price decline due to the implementation of taxes for holders, this can happen because if bitcoin is taxed it means there is no more anonymous term on bitcoin other than that cheap fees will also no longer apply because there is tax, the second possibility is that the price of bitcoin will increase because the government provides legal guarantees for every bitcoin transaction so that fraud in the form of bitcoin will not happen because all transactions are supervised by the government

Glorypaasa

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

yes i think regulation of all goverments is another way to pay tax in cryptocurrency but. i think this is goood so some people and all people in the world will not say the bitcoin is a scam instead of saying this is a opportunity job for all people who have a money.

bitcoinMyLife

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Quote from: Altf4 on August 06, 2018, 05:04:57 PM

Bitcoin is not a registered business in any government offices, we are not committed to give taxes to the government ,we are independent , circulating in the cryptoworld without the regulation of the goverent ,so why should we pay taxes , it is not compulsory to pay dues to the government.

Government can make more revenue plus it can helps to develop our country more since people use bitcoins more than there fiat. Awareness is needed for Govt. to collect taxes.

valentine401

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

In my own opinion, bitcoin holder should not pay taxes because most of the investors are already paying a decent amount which is transaction fees and that will compensate as the tax.

Voidcrafter

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

I am sure that if the government organizes such a gesture that all holders pay taxes. Ve people will keep their bitcoins in countries where there is no prohibition. In offshore areas and other places where there is safety of storage.

roxbit

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Quote from: kenlyresuello08 on June 22, 2018, 12:29:06 PM

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

This is one of the problems. You may have a taxable event even if you don't formally cash out. Short-term capital gains are taxed as ordinary income, which means your marginal tax rate will apply to your short-term gains as well. Anyone using cryptocurrency to pay for goods or services must treat each purchase as a sale. So, that is already a way of paying taxes because upon purchasing an item there is already a value added tax for the government benefits. The local wallet we are using for instance is governed my the local government.

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