Topic: Bitcoin Will Kill The Income Tax - page 4. (Read 29943 times)
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.
Yes this is why lots of government is not appreciated the terms bitcoins or alt coins. For a nation all of it's economy depends on taxes. The huge part is covered by income tax. It is a great threat to corruption that's why most of political leaders are up against crypto. But one day they have to surrender against crypto.
Maybe 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, that's the reason there still no tax for bitcoin, but if the government already take bitcoin as one of the currency or source of income, then that will be the time where tax will be implemented to us, to the people who uses Bitcoin.
You have a point.
Because if you encash your money from bitcoin no need to consult to any government agencies..
Bitcoin still anonymous .
Because if you encash your money from bitcoin no need to consult to any government agencies..
Bitcoin still anonymous .
in the event that you live on a degenerate nation much better to utilize bitcoin as you utilize fiat in everything you are doing in your life the administration you have on your nation would simply get the assessment and spend it for their own utilization/trip so the expense they're getting to the general population is pointless so it is vastly improved to utilize a cash that has no duty IMHO.
The BTC is currently able to eliminate individual income tax, but if the BTC wants to grow for the long term, BTC should pay taxes, because only tax can be recognized by the government.
I think no, Bitcoin is not controlled by the government and it is not centralized. If bitcoin is centralized, maybe it’s value will be like our official currency in our country and its price will be stable and it is the time that bitcoin must pay taxes in the government. But, Bitcoin will never be a centralized cryptocurrency, and i know that it will no longer be like fiats.
Even if bitcoin isnt centrallized , it can still be controlled by banks and governments because thesedays many countries are now adapting or legalizing bitcoin . they may now regulate bitcoin if they wanted to and i think they are already putting a tax on bitcoin as long as you use some kind of service that is operated by bitcoin. Like for example when you withdraw on a bitcoin atm or buy in a grocery using your bitcoins, you shouldnt know that youve been charged by a tax already.
It will only occur if majority of the people are using bitcoin on their transactions by purchasing and selling. But we have to take note also the role of government into it. They will consider bitcoin as legal if they can impose tax on it.
The BTC is currently able to eliminate individual income tax, but if the BTC wants to grow for the long term, BTC should pay taxes, because only tax can be recognized by the government.
I think no, Bitcoin is not controlled by the government and it is not centralized. If bitcoin is centralized, maybe it’s value will be like our official currency in our country and its price will be stable and it is the time that bitcoin must pay taxes in the government. But, Bitcoin will never be a centralized cryptocurrency, and i know that it will no longer be like fiats.
Most of our countries' taxation system is indeed ripe for disruption. In my country, for instance, taxation laws and policies are simply obsolete. They failed to cope with the call of the times. The advancements of technology and other innovations are outrunning the taxation system. Cryptocurrency, freelancing, online businesses, and so on are just some forms of income-generating industries involving billions of worth and yet were not properly taxed by the governments. This is the primary reason perhaps why regulations are already put up.
The BTC is currently able to eliminate individual income tax, but if the BTC wants to grow for the long term, BTC should pay taxes, because only tax can be recognized by the government.
Following this one.
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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Read The Full Article
Probably ,Will kill income tax , because once you enter your money in Bitcoin , Its all free from any taxes. That is the way big businesses doing and also those investors. Is it because of being a digital currency , that no one owns and that no regulations by the government involves to it that they can not due taxes on it, eventhough you will put all your assets to Bitcoin. But then for every crypto investors, once they change their Bitcoin to flat currency, they can still contribute some of their income to banks services or money remittance services by their more than thousands income.
I'm certain administration will discover the best approach to get it's offer. Comparable danger originates from robotization. It is normal that few milion employments will be lost in the next years just because of the way that an ever increasing number of occupations are mechanized and individuals lose occupations. In the long run this will impact the income, on the grounds that on the off chance that somebody doesn't win, he can't spend.
Bitcoin is unlikely to get income tax Now people prefer to deal with banks, and many bits, coins and crypto coins, and related to it, if Bitcoin lays like a bank, then Bitcoin will be able to get income tax.
That's why it is a big danger for governments!
For me, yes bitcoin can kill the income tax. But this time some country says they will put some burden on bitcoin. But I still believe that bitcoin can kill the income tax because that is the main aim of bitcoin, that government can’t control them. We all know that bitcoin can transact some digital currency anonymously and earn plenty of currency in many different ways. I’m hoping that in the future bitcoin will kill the income tax in every state. 
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.
Read The Full Article
Read The Full Article
This is the reason that the government will regulate cryptos. So we may not wish to be greedy and still give taxes to our government to insure our economy of our country.
. Japan, Korea, U.K, U.S, etc. are the country using this solution to keep the growth of cryptocurrency. 
Offcurse bitcoin will kill the income tax because of its unique quality that no one can get information about your bitcoin wallet even your Government too. So if no body know about your wallet how will they force you to pay tax. In this way rich people will save money of the paying tax to the government. And at the final bitcoin will kill the tax, the concept of the tax will be end.
I dont know what number of individuals did pronounced they had bitcoins, yet im almost certain the a large portion of them are hiden their portfolio, I do know a ton p2p merchants wich I do accept just mooves some volume of cash wich they had as of now leaving their benefit into bitcoin as of now, soo they are maintaining a strategic distance from the expenses as of now. I do trust one day nations will legitimize bitcoin and with no expense over it, soo we will have the capacity to cashout our coins without need to pay the enormous duty over the benefit, that is only 35% from the benefit really.
Bitcoin would execute the pay tax.It is therefore that administrations dreaded about permitting bitcoins in their countries.Bitcoin income as long as it is kept in bitcoin itself won't be taxed.But the greater part of individuals while changing over their bitcoins in to fiat utilize their records in banks to money out,governments could without much of a stretch know the profit of fitting individual and could exact expenses on it.Taxing is useful for nation's improvement yet it ought not surpass a breaking point.
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