Topic: Bitcoin should be taxed - page 5. (Read 1071 times)
If you can see some improvements in your country when there is a tax raise and you are enjoying a free healthcare and you are paid to go to a university, probably a taxation on bitcoin is a good thing since you can see where your taxes are going.
This is from personal experience having paid capitol gains tax on bitcoin that I've cashed out *U.S. citizen - it's already taxable
Ron Paul would have been a Libertarian if he could have won a seat that way-----he is for less regulation and more for "free markets"
Towards the end you can hear what he actually thinks
https://www.youtube.com/watch?v=RAS7YScbKSo
For those who can't watch the whole thing
summary:
You wouldn't tax a currency and in a free market the dollar should have competition
Ron Paul would have been a Libertarian if he could have won a seat that way-----he is for less regulation and more for "free markets"
Towards the end you can hear what he actually thinks
https://www.youtube.com/watch?v=RAS7YScbKSo
For those who can't watch the whole thing
summary:
You wouldn't tax a currency and in a free market the dollar should have competition
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
Of course it should be taxes and people are paying taxes for their crypto earnings even from the country where the crypto is not regulated yet, but do we need to add an extra tax just for the crypto currency?It is unfair because its just a money, we are not paying taxes when we use paper as money then it should be same for the crypto as well.
No, not as an extra tax, but as an income tax, like in any other business, or as a capital gains tax, yes.
When Tesla Inc. and other companies, like them, make billions of dollars in profit from trading cryptocurrency, they need to pay taxes as well.
each country's policy will be different, maybe the volume of transactions in that country is a factor in determining the amount of the tax. Big investors certainly won't mind if the regulation goes on
Ron Paul stated because he considers the Bitcoin status in his country. If Bitcoin is legal in the country, it can be taxed as the government support and guarantee the legality to have a business in Bitcoin. It is normal, just like other assets to have taxes as a form of appreciation to the country. And this means all crypto users in the country can be safe to trade or have an investment in Bitcoin. So, I don't think it is bad news for us!
We already pay a lot of fees for making our transactions these days. This is like paying taxes to us, investors. But most countries are imposing an income tax for cryptocurrencies. And this must be really frustrating for people who live in such countries. I think that the tax rates for cryptos shouldn't be so high.
In US and other countries, they've been already taxing it. Bitcoin is classified not just as a money but also as an asset for which give gains to the person who owns and sells it. That's why every gain coming from bitcoin depending on the country where the person resides, there will be an income tax that shall be imposed even it's bitcoin. But IMO, it shouldn't be because it's decentralized but although the government cannot control and stop it, they're just going to put a tax on it because it gives gain to the people who are trading and owning it. So expect with your first purchase if you're living in a country that tax it, when the time comes to sell, you cannot avoid its taxation that's been said on your government's rule about bitcoin and taxation.
Aren't paying fee every transaction already?
Paying the transaction fee is different from being taxed. 
Bitcoin is obviously tax, but it should be bitcoin transactions should be tax as it will not be useful if we will not move it or use it.
I guess big countries already had a tax framework on bitcoin, and the rest of the countries will just follow.
You know, there are only two things that would happen, either they'll tax bitcoin or they'll ban it.
Nothing comes with free now since we are living in a centralized world.
I guess big countries already had a tax framework on bitcoin, and the rest of the countries will just follow.
You know, there are only two things that would happen, either they'll tax bitcoin or they'll ban it.
Nothing comes with free now since we are living in a centralized world.
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
Aren't paying fee every transaction already?And how is it going to be tax if ever that would ever happens?
Would the small time earner in crypto be considered?
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
Of course it should be taxes and people are paying taxes for their crypto earnings even from the country where the crypto is not regulated yet, but do we need to add an extra tax just for the crypto currency?It is unfair because its just a money, we are not paying taxes when we use paper as money then it should be same for the crypto as well.
No, not as an extra tax, but as an income tax, like in any other business, or as a capital gains tax, yes.
When Tesla Inc. and other companies, like them, make billions of dollars in profit from trading cryptocurrency, they need to pay taxes as well.
it is very difficult to check one by one the transactions in and out of bitcoin and also those who have bitcoin assets, because bitcoin ownership is not based on the owner's name directly but only a wallet address that may be more than one person has a wallet to storbitcoins..
what I know is that bitcoin has been taxing for a few years, but not all countries have implemented it and there are only a few countries that legalize bitcoins that tax bitcoin and for sure the countries that have taxed it are in the big countries that do. legalize bitcoin.
but there are still many who have not taxed bitcoin because the reason for this bitcoin is still not clear whether legalized or not.
but for the future I am very sure that many governments will start to tax this bitcoin, the reason is because there are so many enthusiasts of bitcoin besides that bitcoin is also starting to be taken into account in all countries
but there are still many who have not taxed bitcoin because the reason for this bitcoin is still not clear whether legalized or not.
but for the future I am very sure that many governments will start to tax this bitcoin, the reason is because there are so many enthusiasts of bitcoin besides that bitcoin is also starting to be taken into account in all countries
Yes, bitcoin should be taxed, but only when it transfers hands.
There are several sticky points:
1) The amount of crypto that a person owns in total should not be taxed. For those early enough in a crypto space, this would be an impossible calculation, especially considering the number of forks with possible value which the user may never consider.
2) Americans receive capital gains taxes no matter where they live. So, there's 20% for the US, and 20% for the other country. This only encourages hodling, and decreases the cut that the governments get after bitcoin rises in value.
3) Cashlike transactions should have only sales tax for nominal goods and services. 20% plus sales tax is ridiculous, and encourages illicit use.
4) A person could start with 1,000 USD, and transfer between himself and himself between cash and bitcoin, using an exchange, 20 times in a day, but losing no money. According to many countries, that person now owes tax on all 20 transactions, losing significant value, although nothing meaningful was done.
Taxation is useful for many things. Rational policies encourage people to uphold the law, where irrational policies can spiral out of control.
There are several sticky points:
1) The amount of crypto that a person owns in total should not be taxed. For those early enough in a crypto space, this would be an impossible calculation, especially considering the number of forks with possible value which the user may never consider.
2) Americans receive capital gains taxes no matter where they live. So, there's 20% for the US, and 20% for the other country. This only encourages hodling, and decreases the cut that the governments get after bitcoin rises in value.
3) Cashlike transactions should have only sales tax for nominal goods and services. 20% plus sales tax is ridiculous, and encourages illicit use.
4) A person could start with 1,000 USD, and transfer between himself and himself between cash and bitcoin, using an exchange, 20 times in a day, but losing no money. According to many countries, that person now owes tax on all 20 transactions, losing significant value, although nothing meaningful was done.
Taxation is useful for many things. Rational policies encourage people to uphold the law, where irrational policies can spiral out of control.
We might not just be noticing but bitcoin is actually taxed already for some countries that allows the use of it. It may seem like it is a part of the scheme of the government but it actually helps it through making it look like a real currency or a potential currency in the future. The taxation might even help bitcoin become recognized by other countries as a helpful currency since many people are already patronizing the use of it. Either way, with tax or without tax let us hope bitcoin would get the recognition it deserves as well as the legalization of it on other countries.
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
He is sort of right, no matter how much we shout about having a decentralized economy and things but in the end, you need to pay taxes so that you need to contribute something to keep the country running. Imaging a completely decentralized economy is a myth for the next 40-50 years and until then we can imagine bitcoin only as an investment and Investments can never be kept outside the purview of Taxes. Also, most of the countries are already collecting taxes from crypto investors so this is no surprise for anyone. The moment you transfer funds on any exchange you are yourself selling with the caveat of paying taxes as most of the exchanges now have complied with KYC. 
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
Of course it should be taxes and people are paying taxes for their crypto earnings even from the country where the crypto is not regulated yet, but do we need to add an extra tax just for the crypto currency?It is unfair because its just a money, we are not paying taxes when we use paper as money then it should be same for the crypto as well.
No, not as an extra tax, but as an income tax, like in any other business, or as a capital gains tax, yes.
When Tesla Inc. and other companies, like them, make billions of dollars in profit from trading cryptocurrency, they need to pay taxes as well.
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
To be honest I am not in favor of bitcoin will be taxed by the government because as far as I am concerned is where do the taxes of bitcoin will go? In the hands of the corrupt government? The thing that I am using bitcoin is just because there is no tax on it wherein I can get the exact amount that I've desired to withdraw no matter what happens, compared to those that are paying taxes there is a huge difference between those two but somehow I am getting the point of a certain country if they will try to legalize bitcoin and putting some taxes on it because as far as I am concerned is in order to control bitcoin and legalized it there is a certain criterion to pass. I don't like things being taxed too much, but i guess if bitcoin is being taxed, it might be easier for bitcoin to be acceptable by the governments. Since that way, government can gain something by bitcoin too. To be honest sometimes i feel like it's too much, people can get looooots of money and profit from bitcoin without needing to pay anything, it might be a bit dangerous, i guess as long as the tax are not so high and nonsense, having bitcoin taxed is reasonable.
It's not only for the tax but we have government that accepts btc without forcing people to pay tax on Thier btc gains but I heard that in the u.s , btc tax is mandatory but it wasn't a nonsense move because there will be usage for our tax . what only the tax payers won't like if if they are being charge too much because they will think that their government is corrupt .
In Ron Paul's view, bitcoin is money, and it should be taxed as such. How do you view this information?
Of course it should be taxes and people are paying taxes for their crypto earnings even from the country where the crypto is not regulated yet, but do we need to add an extra tax just for the crypto currency?It is unfair because its just a money, we are not paying taxes when we use paper as money then it should be same for the crypto as well.
Nearly everything is taxed as long as you make a profit from it. Hence, I'm not surprised to see that Bitcoin earnings are taxed also. But I don't support governments that imposes a tax which has a high rate (like 20% etc.).
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