That's why it is a big danger for governments!
Bitcoin is not a big danger for governments. If it is danger then why countries like developing countries stop using bitcoin. Countries like Japan , UK and USA using bitcoin. Bitcoin is not a danger but it can give breath to any country economy. Rather to destroyed them. Yes in future I don’t think so that bitcoin will kill income tax. But it can minimize them. State run on income tax. 
Topic: Bitcoin Will Kill The Income Tax - page 3. (Read 29933 times)
As the age of cryptocurrency comes into full force, it will facilitate a subversively viable taxation avoidance strategy for many of the technically savvy users of peer-to-peer payment systems. In doing so, cryptocurrency use will act to erode the tax revenue base of national jurisdictions, and ultimately, reposition taxation as a voluntary, pay-for-performance function. In this post, I cover some of the benefits such a strategy will have for cryptocurrency investors, why our notion of taxation is ripe for disruption, and why cryptocurrency taxation is enabled by default.
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lol, I've read this and the presence of Bitcoin is like a disaster for the government Read The Full Article
as for the moment, yes, but government are looking ways to put some transactions with in regard to bitcoin so don't you worry, Tax will come to us, but I wish it will take more years...haha
That is one thing i like in Bitcoin, tax free it is really a good opportunity for an extra income besides having a daily job. This is also the reason why lots of Bitcoin users are doing full time Bitcoin because they control their time and of course they are getting the result of their hard work.
No, actually the income tax is the life blood of the government they cannot easily eliminate this process because this is the sources of funds of the government to support local government projects in their country
As a decentralized digital currency, people's earning in bitcoin is tax free unless if the government itself will craft a regulation against bitcoin, that may be the time the bank can take a percent for every transaction made in the crypto's blockchain.
If you send to an uninhabited island, where there is no home, clean water, food, internet. How will you survive? We are used to the fact that if we do not know something, we are looking for an answer on the Internet. But you will not even have a place to look for.
But if people can safely move around the whole planet, then there will be someone already living. They can teach me survival. earlier people as that lived.
If you send to an uninhabited island, where there is no home, clean water, food, internet. How will you survive? We are used to the fact that if we do not know something, we are looking for an answer on the Internet. But you will not even have a place to look for.
But if people can safely move around the whole planet, then there will be someone already living. They can teach me survival. earlier people as that lived.
As of now, no tax yet imposed on bitcoin since it was not yet introduce in the government. Is bitcoin will kills income tax, for me slighty yes because many people earn with paying any tax so it will be a foregone benefit of the government.
If you send to an uninhabited island, where there is no home, clean water, food, internet. How will you survive? We are used to the fact that if we do not know something, we are looking for an answer on the Internet. But you will not even have a place to look for.
But I do not understand why it's so scary for you to lack taxation? You can earn more. Make the most profit. Its cool.
What do you think will happen if we stop paying taxes?No one will repair the roads, no one will take out the garbage, we will not be able to receive any service free of charge, all the killers will walk on freedom, since they will not have anywhere to place them.
But I do not understand why it's so scary for you to lack taxation? You can earn more. Make the most profit. Its cool.
What do you think will happen if we stop paying taxes?No one will repair the roads, no one will take out the garbage, we will not be able to receive any service free of charge, all the killers will walk on freedom, since they will not have anywhere to place them.
But I do not understand why it's so scary for you to lack taxation? You can earn more. Make the most profit. Its cool.
What do you think will happen if we stop paying taxes?No one will repair the roads, no one will take out the garbage, we will not be able to receive any service free of charge, all the killers will walk on freedom, since they will not have anywhere to place them.
But I do not understand why it's so scary for you to lack taxation? You can earn more. Make the most profit. Its cool.
What do you think will happen if we stop paying taxes?No one will repair the roads, no one will take out the garbage, we will not be able to receive any service free of charge, all the killers will walk on freedom, since they will not have anywhere to place them.
I don't think bitcoin will kill income tax. That is just government and bank fearmongering so they can pass regulations to protect the banks profit margins.
Any argument a person or government uses to say bitcoin will kill income tax is equally (if not more) true of cash. Cash can be used for illegal activities and it is accepted everywhere without a second thought. At least bitcoin transactions are stored on the blockchain.
Eventually the same regulations banks use to send cash to people will apply to exchanges (theoretically they do already). Then bitcoin won't be looked at as any different from trading gold or silver or any other asset/commodity.
Any argument a person or government uses to say bitcoin will kill income tax is equally (if not more) true of cash. Cash can be used for illegal activities and it is accepted everywhere without a second thought. At least bitcoin transactions are stored on the blockchain.
Eventually the same regulations banks use to send cash to people will apply to exchanges (theoretically they do already). Then bitcoin won't be looked at as any different from trading gold or silver or any other asset/commodity.
But I do not understand why it's so scary for you to lack taxation? You can earn more. Make the most profit. Its cool.
Article not found. Why do you think that the income tax is already in the cryptocurrency? Is it because of the cost? Then why do many countries refuse to work with cryptocurrency?
maybe if the law in his country does not exist, the income earners will not be taxed on income, if killing I do not think Because btc is not the only field to earn a lot more other real work, but if it reduces tax revenue it might happen
It is every part of higher to apply a bitcoin tax because it is impossible to smack the anonymity at the in the future transactions, which is the most important feature of bitcoin. However, I think that in order to be clever to fabricate steadily and for eternity, there are still definite rules to gain taking place bitcoin stay firmly in the push and bring more efficiency to people in description to the world.
Yeah I believe many governments will need to rethink how they approach tax in regards to cryptocurrencies. It is currently a fairly clunky system for investors as it is trying to apply the old stock taxation rules to the crypto space.
Of course . this is the reason why many government doesn't appreciated bitcoin in their country. Bitcoin terms and condition not allow taxation . it help to occurs various crime .it will kill the income tax as of now, since bitcoin is not common to public, and some other countries still haven't legalized bitcoin, but in a way they become rich without paying tax. It helps to occur corruption
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