Bitcoin holders will have to pay their tax? - page 8.

Lydiaglo

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Quote from: Maveth13 on June 22, 2018, 01:08:53 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.

Trade profits are already being taxed. Crypto tax already exist. It's part of a needed regulation that could actually help increase adoption contrary to your statement. You can't expect to make profit and not pay taxes.

When we pay taxes, I just hope that it will never be on the hands of some greedy persons. It is really okay to pay but hey, some reasons are just nonsense. We also want to help one another by engaging on some charitable program.
Governments, also have a lot of budgets so they won't bother.

Are you talking about government taxes or blockchain taxes for holding our coins? If you are talking about government taxes then I am against this because governments do nothing for us and already applied a lot of taxes, while there is no facility given to us. If it is about blockchain wallet tax then it is compulsion of the people to give tax on their holdings.

cintamoni

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Quote from: Affilate User on September 21, 2018, 12:44:01 AM

I don't think it's possible, bitcoin holders don't need to pay taxes, you can also use it to store as many assets as you have, as much as you can, the more bitcoin you have, the more you can get.

Mostly criminals are also used bitcoin for the same task. They work anonymous and send money via bitcoin so no one can caught them.

MackLewis

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If you own a bitcoin, you are taxed. For many people, bitcoin is just an investment. If you have kept the bitcoin for less than a year and sold it, the cash will be taxed as an income (or in other words, you are taxed). If you have kept your bitcoin for more than a year, it would be taxed the same as the capital gain (profit from the sale of investments or property) - maybe 20%. In addition, transaction costs and accounting can increase the total cost to 60%. But the problem here is: Almost nobody reported this. From 2013 to 2015, less than 900 people each year report bitcoin transactions to the US Internal Revenue Service (IRS). This makes the IRS in 2014 to identify pre-coded assets and recently the IRS convened Coinbase to collect information related to customer data over the past three years. . In particular, the agency has requested records of more than 14,000 users who "buy, sell, send or receive at least $ 20,000 in a given year.

promich21

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Quote from: marcbitcoins on September 20, 2018, 08:13:54 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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

Nothing will happen bitcoin is anonymous there's no way to trace your transaction. Don't worry if they applied tax we won't give any government can't reach to us that's the big advantage of bitcoin.

MrRiuss

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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.

nothing will happen, business as usual. everybody should pay tax.

Gabali126

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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 not supposed to be. People should not allow this to happen. You only pay tax on property not on the money you have in your account.

Getcoinsite

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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.

What we love about cryptocurrency is the decentralization thats why governments are irritated in presence of bitcoin,because they can’t apply taxation

But for me personally i love the idea of this cryptocurrency will be provided taxes since this is an obligation of every profit earning people,and this will help our community to he accepted in the whole world.because governments will see their benefits in this

posi

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Quote from: jambul_kribo on September 20, 2018, 08:40:30 PM

Quote from: marcbitcoins on September 20, 2018, 08:13:54 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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

that is positive effect if we should pay taxes from bitcoin we have.and i think all investor could be agree if this policy give positive impact to their investment value.and also they feel comfortable with market condition.no more fud about banning from government.

It will does create positive effect because of the countries where bitcoiners pay tax this days are countries where bitcoin was accepted as legal tender and payment system.

Rizky Aditya

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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.

A lot of people are going to quit, example me* because I’m not ready to be paying double taxes. You can’t be paying tax to your government for the job your doing in your country and also be paying tax for Bitcoin, lol that’s never going to work. There is no need to talk about this cause we already know that they are not going to charge tax for Bitcoin, the government has no business with any cryptocurrency.

umbara ardian

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bitcoin holder is free to store assets anywhere and is not subject to tax fees, to be safer you can store the bitcoin that you have in a wallet like blockchain and some other wallets that have very high security.

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Quote from: turkandjaydee on September 21, 2018, 02:00:09 AM

Quote from: noormcs5 on September 21, 2018, 01:09:46 AM

Quote from: marcbitcoins on September 20, 2018, 08:13:54 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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

First of all , if the volatility is still this high, i think noone will trust cryptocurrencies as a common currency. This thing really needs a mass adoption.
If that thing happens, paying taxes will mostly happen too.

cryptocurrency will always have high volatility.this think make an opportunity for trader investor, their profit come from this volatility.mass adoption is an obligation if we want to see bitcoin price rise alot.

turkandjaydee

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Quote from: noormcs5 on September 21, 2018, 01:09:46 AM

Quote from: marcbitcoins on September 20, 2018, 08:13:54 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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

First of all , if the volatility is still this high, i think noone will trust cryptocurrencies as a common currency. This thing really needs a mass adoption.
If that thing happens, paying taxes will mostly happen too.

naily

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Quote from: cahbagus555 on September 08, 2018, 08:56:03 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.

I dont think paying taxes will be obstacle for bitcoin or cryptocurrency. If government regulate bitcoin and cryptocurrency become asset, its our obligation as citizen paying taxes. Its very normal if we pay taxes from our asset we have

is it not when making transactions on the exchange we are already taxed, and if the government still imposes taxes on bitcoin holders while the government cannot control the movement of the crypto currency, how can the government do tax

noormcs5

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Quote from: marcbitcoins on September 20, 2018, 08:13:54 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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

rickyharun

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Quote from: LuciferEveningStar on September 21, 2018, 12:56:52 AM

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 holders should not pay their taxes because every transactions does have a fee which can compensate into the taxes that government are requiring.

each person have their own opinion.and nothing wrong with their opinion.it depend on which side we look it.paying or not paying is not problem for me personally as long as our money didnt disturb by government regulation

LuciferEveningStar

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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 holders should not pay their taxes because every transactions does have a fee which can compensate into the taxes that government are requiring.

Affilate User

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I don't think it's possible, bitcoin holders don't need to pay taxes, you can also use it to store as many assets as you have, as much as you can, the more bitcoin you have, the more you can get.

demonz666

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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 think taking taxes to bitcoin holders will not make the bitcon community expansion low. because when a government has taken tax from bitcoin, that country has legalized bitcoin. and the tax will be managed by a country whose benefits will return to us. and if bitcoin is legal then we can trade and mining freely.

kumala_abi

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Quote from: Vishnu.Reang on September 20, 2018, 09:50:39 PM

This can be very complicated, right? In order to do that, the government authorities need to link all the crypto-wallets to the individuals, as a lot many of the users won't be ready to reveal their crypto holdings. And doing so is going to take a lot of time and effort.

they can take data from centralized exchanger.this exchange could provide data, which asset is hold by each person and they could calculate its value.government take this raw data to short which is eligible to pay taxes.

tinystone26

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I don't think it would be easy to pay tax online because this currency is not that legal in any country even if there are many people who agreed to pay their tax most of the people will say that it is not yet legal to pay their tax and not that easy to make it legal in any country that's why there should have more process to be done to make it happened in any country.

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