Bitcoin is decentralized virtual digital currency. No one control it. So there is no TAX for altcoins till any government implement cryptocurrency in main stream of economy.
Already bitcoin or any altcoin use transaction fee to pay to miner who verify transactions.
Topic: Do Bitcoins have Tax?? - page 37. (Read 40195 times)
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Bitcoin isn't regulated by the government so basically there is no tax involved when using bitcoin, As you have known, there is a transaction fee when a transaction is done. The transaction fee goes to the miner. It serves as payment or reward to the miner for moving the blocks and keeping the chain healthy.
There is no tax. You are not claiming it. But if gov't sees your assets are worth more than what you make annually they will start to look into where is that extra income is coming from. The IRS is known for doing that.
bitcoin is not under the government, so there is no tax and this is one of the hallmarks of bitcoin without being taxed.
bitcoin already added fees on each transaction, and if there are the tax will go where?
ofcourse will goes to the ones who make the regulation about taxing bitcoin,the only way government could taxing bitcoin is through merchant not every bitcoin transaction itself because it's impossiblebitcoin already added fees on each transaction, and if there are the tax will go where?
Yeah, all that could be done by the Government to conduct a taxation for bitcoin it or could use how to take the funds stored in wallets online. But it is rather long, because there is no Government in the world that performs a deeper study about bitcoin. And this happens there will be a possibility that it was a damning us
bitcoin is not under the government, so there is no tax and this is one of the hallmarks of bitcoin without being taxed.
bitcoin already added fees on each transaction, and if there are the tax will go where?
ofcourse will goes to the ones who make the regulation about taxing bitcoin,the only way government could taxing bitcoin is through merchant not every bitcoin transaction itself because it's impossiblebitcoin already added fees on each transaction, and if there are the tax will go where?
Yeah, all that could be done by the Government to conduct a taxation for bitcoin it or could use how to take the funds stored in wallets online. But it is rather long, because there is no Government in the world that performs a deeper study about bitcoin. And this happens there will be a possibility that it was a damning us
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bitcoin is not under the government, so there is no tax and this is one of the hallmarks of bitcoin without being taxed.
bitcoin already added fees on each transaction, and if there are the tax will go where?
ofcourse will goes to the ones who make the regulation about taxing bitcoin,the only way government could taxing bitcoin is through merchant not every bitcoin transaction itself because it's impossible bitcoin already added fees on each transaction, and if there are the tax will go where?
bitcoin is not under the government, so there is no tax and this is one of the hallmarks of bitcoin without being taxed.
bitcoin already added fees on each transaction, and if there are the tax will go where?
bitcoin already added fees on each transaction, and if there are the tax will go where?
This is actually a good question because me myself never thought of it being taxed or
paying tax on it but what about buying it and selling it. If you are buying and selling it
and turning the profits into the US dollar Im sure there is some tax that your are responsible
for?
Im no tax expert but also think if you have a business and take bitcoins as payment you
would have to pay tax on that income?
paying tax on it but what about buying it and selling it. If you are buying and selling it
and turning the profits into the US dollar Im sure there is some tax that your are responsible
for?
Im no tax expert but also think if you have a business and take bitcoins as payment you
would have to pay tax on that income?
Bitcoin is an internet currency so the government cannot put any tax on it if I am correct and that is the great thing with Bitcoin.
But I am sure that if Bitcoin becomes legal that it is going to change.
But I am sure that if Bitcoin becomes legal that it is going to change.
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Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
bitcoin has no tax, and transaction too, what they have deducted is just a transaction fee and not a tax, transaction fee is the payment for those who processed the transaction (i.e. blockchain) in local wallets provider it is their earnings. Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I think thats for mining fee and not all online wallet have a fee if you use xapo,coinbase and coins.ph this three dont have a fee in any amount of transaction blockchain have a fee but I think is much safer to put your bitcoin here. Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I think bitcoin dont have tax. Because government or other people dont know who is the real satoshi and ofcourse this is not like other things that need to pay tax in the government. And i think the creator in blockchain is like the government that need to pay tax or fee so that you can send bitcoin. This is only opinion if i have wrong please correct me.
you are so wrong my friend.
government do care about about taking taxes from anybody who is running a business with bitcoin and they may not care so much about satoshi but they would really want to know it. as they have already questioned some developers before.
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I think bitcoin dont have tax. Because government or other people dont know who is the real satoshi and ofcourse this is not like other things that need to pay tax in the government. And i think the creator in blockchain is like the government that need to pay tax or fee so that you can send bitcoin. This is only opinion if i have wrong please correct me.
governments don't care about who is the mysterious creator of bitcoin. they just care about the income you can give them by taxing your wealth and your income. here where i live you must pay tax over your entire bitcoin holdings and the profit that you gain from trading and even just holding. they see bitcoin as a currency tool, and thus it's part of your wealth. they are hungry for your money, believe me.
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I think bitcoin dont have tax. Because government or other people dont know who is the real satoshi and ofcourse this is not like other things that need to pay tax in the government. And i think the creator in blockchain is like the government that need to pay tax or fee so that you can send bitcoin. This is only opinion if i have wrong please correct me.
Personally, I have never heard of bitcoins being taxed. But what I know is that once it is declared as income, then the taxman will come in with his blaring teeth to take his share. In my country, you cannot be taxed for bitcoins because it is not recognized as a form of currency. in fact the bitcoin exchanges available here are operating illegally.
right, something that is still illegal or not in the US Government admits the family would not be a tax event for each of the bitcoin we have. So this is still very much to be done, enjoy all that we get and give it some advantages it brings to those who need it, so that we have a lot of friends and have a high social ties
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Yeah, bitcoin doesn't have tax, but the transactions does. You can see the fee on the page of the blockchain.
I think you got it wrong. The thing you are calling tax is actually a fee, to be specific it is called transaction fee or miners fee. Bitcoin in reality has no tax even its operations and transactions have no tax. It is not taxable but it has fee that is included on every transaction for a faster and efficient transactions. There are also fee less transactions but they are very slow.
Bitcoin doesn't have any tax. But to send and receive bitcoin our wallet sites will charge some little amount of BTC. And in my country, if I want to sell my bitcoins means, The site owners will take some charge in the form of tax. That's it. So as of now, there is no other personal tax to Bitcoin.I think If my country accept Bitcoin as legal currency then the regular tax will add to Bitcoin.
Bitcoin does not have tax and that is also why it is so popular among the people, the transaction fees are really low and it is does not depend on how much money you transact.
But when Bitcoin becomes legal if will have tax for sure.
But when Bitcoin becomes legal if will have tax for sure.
no i dont think that bitcoin have any tax. actually bitcoin is not yet legal in any country, therefore it is tax free in present time. i think a time will come when it will be accepted by the countries and will be legalize. so after legalization it the government will impose tax on bitcoin i think. but still i think it is free of tax and no one is paying tax on bitcoin.
I think the only tax that i know that bitcoin have is the tax on transaction like sending and receiving bitcoin because we paid miners to make a confirmation for the transactions that we made so for me it's what we called tax in the cryptocurrency named "Bitcoin".
Transaction fee is not like a big tax. Its a very small fee which miners get for a transaction. We have an option to reduce transaction fee further but this will delay the transaction.
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