Bitcoin tax in future - page 2. | Bitcointalksearch.org

niothor

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in defi we trust

Quote from: The00Dustin on August 19, 2014, 05:49:03 AM

Quote from: moriartybitcoin on August 18, 2014, 10:29:52 PM

Bitcoin is classified by the IRS as an ASSET in the USA and assets can be taxed if they are sold (stocks, property, etc)

Quote from: coins-mining on August 19, 2014, 01:00:08 AM

But if you loose your password then there is no more asset

It's hard to believe BTC or another crypto currency will one day replace USD.

Wow, a post by an alleged scammer with a high thread count who obviously didn't even read the thread followed immediately by a post from a new user who is clearly peddling something and trying to increase the thread count. More on Sick Sad World tomorrow...

Oh, and just for kicks: I guess I'd better keep my cash, at least if I loose my wallet there will be more asset! Roll Eyes

Let's be honest here..
Ignoring the guy that posted , ignoring his English skills this is one of the most important things with Bitcoin.

You have lost the wallet or your passkey that's it. You have to back it up a few times and then get some back-ups that you need to keep in some safe spots otherwise you've lost your bitcoin forever.

You know the story about the guy that throw away his hdd that made the news and that is no singular case , there are a few each month in the help section.

With the money in your bank at least all you need is your id which you can replace any time.

The00Dustin

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Quote from: moriartybitcoin on August 18, 2014, 10:29:52 PM

Bitcoin is classified by the IRS as an ASSET in the USA and assets can be taxed if they are sold (stocks, property, etc)

Quote from: coins-mining on August 19, 2014, 01:00:08 AM

But if you loose your password then there is no more asset

It's hard to believe BTC or another crypto currency will one day replace USD.

Wow, a post by an alleged scammer with a high thread count who obviously didn't even read the thread followed immediately by a post from a new user who is clearly peddling something and trying to increase the thread count. More on Sick Sad World tomorrow...

Oh, and just for kicks: I guess I'd better keep my cash, at least if I loose my wallet there will be more asset! Roll Eyes

dkblueman

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Quote from: TheButterZone on August 18, 2014, 07:23:17 PM

Countries? Where we're going, we don't need countries.

Funny, but also very true

betterangels

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we don't need countries!! Undecided

no , god, nou

coins-mining

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But if you loose your password then there is no more asset

It's hard to believe BTC or another crypto currency will one day replace USD.

moriartybitcoin

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★777Coin.com★ Fun BTC Casino!

Bitcoin is classified by the IRS as an ASSET in the USA and assets can be taxed if they are sold (stocks, property, etc)

Foxpup

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Vile Vixen and Miss Bitcointalk 2021-2023

Transaction fees are variable (set by miners), and can change to meet changing economic conditions. For example, the minimum transaction fee has already been reduced several times due to rising bitcoin prices.

Also, the fee is not a tax. It is neither set by a government nor paid to a government. It is a payment for a service, set by the people providing that service, in a competitive market. Miners cannot set their fees higher than what people will pay if they expect to make a profit.

TheButterZone

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RIP Mommy

Countries? Where we're going, we don't need countries.

Poolie

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Taxes will be decieded by each individual country. There's nothing we can really do about that though.

virtualdn

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Quote from: adamas on August 18, 2014, 07:44:48 AM

Dogecoins will be used for micropayments.

good one

botany

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Quote from: fanBitcoin on August 18, 2014, 06:26:39 AM

Dumbass question Cheesy

What if in future, for example in year 2100, the bitcoin will be used by everyone.Working for bitcoins shopping for bitcoins,paying bills,etc.. So if an worker will work for 0.00100000 Satoshi/month, his employer will pay 0.00020000 Satoshi blockchain tax. This is 20% tranzaction fee. Is an huge tax and will ruin economy.And people with big tranzactions means very rich people will pay an infirm amount.. Can this be changed in bitcoin protocol if is needed?

Transaction fees are a deterrent to spam and are expected to drop if the value of BTC goes up.
Moreover, you can have off-block chain transactions which are relayed only when the threshold is crossed. This can help avoid transaction fees.
http://www.coindesk.com/coinbase-implements-zero-fee-microtransactions-off-the-block-chain/

adamas

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VIS ET LIBERTAS

Dogecoins will be used for micropayments.

Thekool1s

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Change is in your hands

Microwallet type wallets can be used in that situation even if the fee remains 0.0002 but as the guy above me said it can be changed easily so there will be no problem

niothor

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in defi we trust

Quote from: zolace on August 18, 2014, 06:37:31 AM

Quote from: fanBitcoin on August 18, 2014, 06:26:39 AM

Dumbass question Cheesy

What if in future, for example in year 2100, the bitcoin will be used by everyone.Working for bitcoins shopping for bitcoins,paying bills,etc.. So if an worker will work for 0.00100000 Satoshi/month, his employer will pay 0.00020000 Satoshi blockchain tax. This is 20% tranzaction fee. Is an huge tax and will ruin economy.And people with big tranzactions means very rich people will pay an infirm amount.. Can this be changed in bitcoin protocol if is needed?

I doubt it but anything is possible, with all the greed that is going around, everyone wants a piece of bitcoin. I can see a third party software being able to track an employees address and they might by law have to use that address just like a SS number, then they can use the third party software to tax and track ones transaction, but ill be pissed if something like this ever happens.

There is no such thing as a stupid question by the way

The bitcoin tx fee was introduced to keep spam away.
it can easily be changed to 1 satoshi if needed.

Besides he refers to the tx fee not to government taxes so all that conspiracy mumbo-jumbo , please keep it to yourself.

Viscera

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While it is true that Bitcoin could appreciate to the point where 0.001 bitcoin/month was a good rate of pay it would not be likely that you would be paid using bitcoin for the exact reason you mention. The answer though is rather simple. The solution to the fungibility of bitcoin is in the blockchain technology which makes trading 1 Satoshi for 100 Doge coins (or 25 as the case may be) a transparent and simple way of sending the value of one Satoshi without the fees required of the bitcoin blockchain. By using an alternative blockchain to send 1 Satoshi the fees required are easily minimised. Competition among competing blockchain a will give us a plethora of choices by the time bitcoin reaches these kind of values. I agree, no such thing as a dumb question

zolace

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Quote from: fanBitcoin on August 18, 2014, 06:26:39 AM

Dumbass question Cheesy

What if in future, for example in year 2100, the bitcoin will be used by everyone.Working for bitcoins shopping for bitcoins,paying bills,etc.. So if an worker will work for 0.00100000 Satoshi/month, his employer will pay 0.00020000 Satoshi blockchain tax. This is 20% tranzaction fee. Is an huge tax and will ruin economy.And people with big tranzactions means very rich people will pay an infirm amount.. Can this be changed in bitcoin protocol if is needed?

I doubt it but anything is possible, with all the greed that is going around, everyone wants a piece of bitcoin. I can see a third party software being able to track an employees address and they might by law have to use that address just like a SS number, then they can use the third party software to tax and track ones transaction, but ill be pissed if something like this ever happens.

There is no such thing as a stupid question by the way

fanBitcoin

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Activity: 25

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Dumbass question Cheesy

What if in future, for example in year 2100, the bitcoin will be used by everyone.Working for bitcoins shopping for bitcoins,paying bills,etc.. So if an worker will work for 0.00100000 Satoshi/month, his employer will pay 0.00020000 Satoshi blockchain tax. This is 20% tranzaction fee. Is an huge tax and will ruin economy.And people with big tranzactions means very rich people will pay an infirm amount.. Can this be changed in bitcoin protocol if is needed?

Topic: Bitcoin tax in future - page 2. (Read 2405 times)