Bitcoin to be Taxed...... - page 9. | Bitcointalksearch.org

swaptaker

full member

Activity: 187

Merit: 100

Quote from: Ailmand on November 28, 2017, 02:56:25 PM

Quote from: bundo on October 16, 2017, 09:02:57 PM

Hopefully this info is completely valid and signifies that crypto is recognized there. the future of another country will follow in his footsteps
Taxes can also help the state treasury,

The application of taxes to bitcoin can monitor the circulation of coins and avoid abuse so organized

I think many countries have already set their sights in cryptocurrency and has actually seen how it can help their local markets and their economies. That is why it is just a matter of time until some countries, if not all, would try to regulate its use or put taxes on it, so they can use it for their advantage. Since the bitcoin market has been increasing and increasing, it's a good way for countries to reap its benefits.

This is correct, many countries have been trying to tax bitcoin under legal status. I don't think they will miss a great tax income from their citizens. That's why they need to legalize bitcoin and take tax from it.

Ailmand

hero member

Activity: 1274

Merit: 519

Coindragon.com 30% Cash Back

Quote from: bundo on October 16, 2017, 09:02:57 PM

Hopefully this info is completely valid and signifies that crypto is recognized there. the future of another country will follow in his footsteps
Taxes can also help the state treasury,

The application of taxes to bitcoin can monitor the circulation of coins and avoid abuse so organized

I think many countries have already set their sights in cryptocurrency and has actually seen how it can help their local markets and their economies. That is why it is just a matter of time until some countries, if not all, would try to regulate its use or put taxes on it, so they can use it for their advantage. Since the bitcoin market has been increasing and increasing, it's a good way for countries to reap its benefits.

vibingpositively

full member

Activity: 224

Merit: 100

It was always going to be taxed those who thought otherwise were either naive or trying to avoid taxation. Simply put where you make money there will be tax prepare for that and bitcoin is no different despite being digital money.

mixelalex

member

Activity: 193

Merit: 10

Our government has dashing habits - no guarantees, but taxes are ready to be taken off even from what they do not believe (crypto currency).

brontosaurus

sr. member

Activity: 441

Merit: 250

I am quite curious to learn how bitcoin can be taxed. It is a digital currency which has its great quality of anonymity. Every user is just defined by a wallet address. If govt. wants to tax it each wallet address must be taxed but then its next to impossible to get some money out of someone's wallet. There is just lot of confusion as to how the taxability norm would sustain.

AVAMONEY

full member

Activity: 406

Merit: 100

Quote from: n0ne on November 04, 2017, 12:51:43 AM

Quote from: vv181 on November 03, 2017, 09:57:12 PM

Quote from: Omega Weapon on November 03, 2017, 09:12:03 PM

Quote from: Icaraswipeout on October 29, 2017, 10:23:46 AM

As some others said, Taxation is the ultimate recongition for Cryptocurrencies.

Laws can be made and unmade.

But once a state starts to have a new source of income, it will immediately spend in on state services or debt repayment.
So it will be almost impossible for to give it an end.

It is funny that some people actually want the governments to tax bitcoin since that will mean they recognize bitcoin as a currency but I’m the kind of person that prefers that the government leaves bitcoin alone but as bitcoin becomes bigger the possibility of that happening is very slim but even if governments tried to regulate bitcoin many persons are simply not going to comply.

of course, most people will not obey a law that regulates about cryptocurrencies because of they believe it is decentralized. but not with the government, taxing cryptocurrencies is the way how government deal with it, they didn't like anything about without their control.

However crypts get regulated, taxing of bitcoin won't be taking place in an effective manner. Already bitcoin have been taxed in several countries based on the transaction made with relation to the buying and selling of cryptocurrency. Same as stated, due to the decentralized functioning its hard to keep track of calculations of taxation.

Still, tracking tax calculations becomes a stalled discussion.
Since this decentralized functioning are new technology, many government still stutter in adopt it.
For some countries that have applied this tax regulated, I think they has been prepared accepting all the risks in consequence.

katmalo.ak47

newbie

Activity: 17

Merit: 0

Quote from: kyanscadiel on November 28, 2017, 12:44:36 PM

Quote from: Lpim01 on October 17, 2017, 11:00:29 PM

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

It is possible to happen if it regulated and mandatory demand by the government. Taking South Korea for crypto currencies taxes, is their options to generate income from large and fast growing currency today. And we don't know if other countries will follow then, but it is just an initial information, we need final confirmation for its execution towards crypto.

not only in South Korea implement tax for bitcoins, even Canada already implemented tax for bitcoins as well Japan. Implementing tax for bitcoins will also help the economy's growth. Just the right proportion of tax will make a huge effect for the country.

If by tax paying system a government legalized the bitcoin in the country then it is the trade of benefit, the should be in a small amount, because many people are making investment in bitcoin due to the tax free from government. they consider their self safe from the tax and they invest in the bitcoin if the tax on bitcoin is made high then those people will search a new currency for investment. in a result the tax on bitcoin is not beneficial for bitcoin.

kyanscadiel

full member

Activity: 140

Merit: 100

Quote from: Lpim01 on October 17, 2017, 11:00:29 PM

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

It is possible to happen if it regulated and mandatory demand by the government. Taking South Korea for crypto currencies taxes, is their options to generate income from large and fast growing currency today. And we don't know if other countries will follow then, but it is just an initial information, we need final confirmation for its execution towards crypto.

not only in South Korea implement tax for bitcoins, even Canada already implemented tax for bitcoins as well Japan. Implementing tax for bitcoins will also help the economy's growth. Just the right proportion of tax will make a huge effect for the country.

pokeronlinestatus

full member

Activity: 455

Merit: 102

Quote from: meliodas on November 26, 2017, 08:33:13 AM

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

I feat that they would implement this all over the world. I think that it should vary on a country on whether bitcoin should be taxed because the goverment officials in some countries like ours is just corrupt, and might end up keeping taxed bitcoin for themselves.

Taxes are key ways to get development in the country and the countries who accepted bitcoin as payment they will surely implement taxing system on it and that will help payer as well as collector and the best intention in bitcoin taxation system is the prices vary and governments can collect huge amount of taxes to spend on the progress of important fields for the citizens and users will also get an easier way to pay taxes.

meliodas

sr. member

Activity: 742

Merit: 329

CryptoTalk.Org - Get Paid for every Post!

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

I feat that they would implement this all over the world. I think that it should vary on a country on whether bitcoin should be taxed because the goverment officials in some countries like ours is just corrupt, and might end up keeping taxed bitcoin for themselves.

innocent93

legendary

Activity: 896

Merit: 1000

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

I don't think that we can talk about a trend when it is involved South Korea. Over there everything is strange, including the national politics, so i consider that this is not a refer point for the future of the governmental bitcoin regulations.

MIBlockchain

newbie

Activity: 104

Merit: 0

btc is free of tax, i think

shark69

full member

Activity: 258

Merit: 101

this is not possible, the government will not know, anyone who plays bitcoin. and to track it will be difficult.

BabyBoss

full member

Activity: 462

Merit: 100

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

If this will be the case I think there are good effects also on it because it will become more exposed to whole country knowing that their government will allowing bitcoin to be accepted as payments in their own country.

rhodelmabanal

full member

Activity: 1251

Merit: 103

Buzz App - Spin wheel, farm rewards

Yes, there should be, after all these years crypto must have a tax in order to have a fair policy it might be useful to some sort of donations particularly in other countries in Asia. It might have been the most difficult times on bitcoins because every government banks are attached to it. If they can't have tax well there might had been a problem to them.

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: Lecam on November 26, 2017, 05:56:39 AM

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

The reason why I prefer bitcoin rather than my job is because whenever I get paid from my job, the tax is really high that only a few amount is what's left for me. So, if bitcoin were to be taxed, I think the amount of tax deducted will also be high. This is why I'm against the idea of bitcoin being taxed.

Will probably be higher than your job, the taxes in bitcoin usually about 30% or more in many countries that already implement taxation for the bitcoin. it's somewhat bothering me if a country wanted to accept bitcoin and tax it because the amount of taxes is just ridiculous, but that's the only way for us to keep from being caught as tax avoiders right.

thecoder2017

member

Activity: 280

Merit: 10

If the government will apply taxes to Bitcoin they must recognize first Bitcoin before implementing this and we had nothing to do just obey it because they are the one making the law and if this will happen big amount.of tax will.be collected from bitcoin

Lecam

sr. member

Activity: 700

Merit: 254

Quote from: CryptoDream2049 on October 16, 2017, 08:21:40 PM

This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's

The reason why I prefer bitcoin rather than my job is because whenever I get paid from my job, the tax is really high that only a few amount is what's left for me. So, if bitcoin were to be taxed, I think the amount of tax deducted will also be high. This is why I'm against the idea of bitcoin being taxed.

Tegin92

jr. member

Activity: 51

Merit: 10

I think if bitcoin is taxed, as long as the country legalizes the bitcoin in the country so it will not hurt, and bitcoin will become more global, the possibility of bitcoin will be increasingly considered worldwide.

aldrinjhoy

newbie

Activity: 15

Merit: 0

if bitcoin user and member in particular country will grow 10% of the total population of the country then maybe they should make a law for taxation on cryptocurrency. for the development of one's country

Topic: Bitcoin to be Taxed...... - page 9. (Read 4584 times)