Bitcoin is not about paying or avoiding tax whatsoever.
It's about an independent, worldwide form of money and payment infrastrucure, that no longer depends on trust (in some authority or middle man, like a bank, who thus has enormous power over our money) but on cryprographic proof.
It's called "cryptocurrency" because it only depends on cryprography, rather than depending on banks, governments, rules, laws, and trust.
Topic: How many of you still believe bitcoin will free you from paying tax one day? - page 6. (Read 5890 times)
January 29, 2015, 08:22:23 PM
January 29, 2015, 08:11:03 PM
Taxes is how the government does everything, the government system wouldn't surivve without taxes.
This is precisely, why so many people don't want to pay tax any longer. BTC isn't enough to achieve that goal, but it can certainly help.
January 29, 2015, 07:53:34 PM
Taxes are inevitable, unless we abolish governments as a whole, but I doubt we would have taxes on our minds if that happened. Taxes is how the government does everything, the government system wouldn't surivve without taxes.
legendary
Activity: 1302
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Core dev leaves me neg feedback #abuse #political
January 29, 2015, 02:48:39 PM
I am amazed about the people who believe in all that misinformation that was spread over the years.
No, bitcoin wasn't designed to destroy governments. SN never said anything about that.
No, bitcoin wasn't designed to destroy governments. SN never said anything about that.
January 29, 2015, 02:43:15 PM
I don't remember Satoshi ever saying that the purpose of Bitcoin was to enable tax evasion. I could be wrong lets check.
https://bitcoin.org/bitcoin.pdf
I wonder how many people have not read Satoshi's paper? I mean honestly it is only 9 pages long. It is high level concepts and thus approachable to even non-programmers (except maybe the last section "calculations"). Taxes predate modern fiat currencies by thousands of years. The Romans and Egyptians had taxes and they used precious metals. So the system of taxation doesn't rely upon the system of fiat currencies.
Quote
A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution. Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of the sequence of
events witnessed, but proof that it came from the largest pool of CPU power. As
long as a majority of CPU power is controlled by nodes that are not cooperating to
attack the network, they'll generate the longest chain and outpace attackers. The
network itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the network at will, accepting the longest
proof-of-work chain as proof of what happened while they were gone.
payments to be sent directly from one party to another without going through a
financial institution. Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of the sequence of
events witnessed, but proof that it came from the largest pool of CPU power. As
long as a majority of CPU power is controlled by nodes that are not cooperating to
attack the network, they'll generate the longest chain and outpace attackers. The
network itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the network at will, accepting the longest
proof-of-work chain as proof of what happened while they were gone.
https://bitcoin.org/bitcoin.pdf
I wonder how many people have not read Satoshi's paper? I mean honestly it is only 9 pages long. It is high level concepts and thus approachable to even non-programmers (except maybe the last section "calculations"). Taxes predate modern fiat currencies by thousands of years. The Romans and Egyptians had taxes and they used precious metals. So the system of taxation doesn't rely upon the system of fiat currencies.
January 29, 2015, 02:34:22 PM
There is no such thing as tax free capitol gains. This was never actually on the table.
January 29, 2015, 02:22:32 PM
No Taxes will always be around no matter the currency, in an all Bitcoin alternative world the companies would still have to pay taxes to the government and add it on to the price of goods.
January 29, 2015, 02:30:37 PM
Who said BTC has been designed with tax evasion in mind? Those who are successful in this game do not need BTC, even if it makes many things easier, but regular folks with 9to5 jobs will pay tax forever, and BTC won't change anything for them.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
We know that it wasen't designed for that , but I'am pretty sure that it can be used for it , I mean how they will know that you have Bitcoin since it's not related to your Bank account or credit card or something , unless they are spying on you ,they won't .
January 29, 2015, 02:21:52 PM
Who said BTC has been designed with tax evasion in mind? Those who are successful in this game do not need BTC, even if it makes many things easier, but regular folks with 9to5 jobs will pay tax forever, and BTC won't change anything for them.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
Exactly, as Leona Helmsley put it bluntly, taxes are for the little people.
January 29, 2015, 02:16:00 PM
Who said BTC has been designed with tax evasion in mind? Those who are successful in this game do not need BTC, even if it makes many things easier, but regular folks with 9to5 jobs will pay tax forever, and BTC won't change anything for them.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
BTC makes it easier to start an undocumented, unregistered business, but few businesses and even fewer people can take advantage of that.
January 29, 2015, 12:16:10 PM
How many of you still believe bitcoin will free you from paying tax one day?
Is this dream even still alive?
Is this dream even still alive?
It was only ever a dream in the minds of those who didn't understand what bitcoin provides and what governments demand. If you ever thought it was possible, then you were mistaken.
regulated exchanges are popping up..
Certainly. Most people who took the time to think about it always knew that they would.
mining is increasingly becoming centralized!
This is part of the original design of bitcoin. Satoshi said so himself multiple times. Anyone that thought otherwise simply wasn't paying attention to what the intended design of Bitcoin was:
- snip -
I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it's not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.
At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.
I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it's not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.
At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.
- snip -
lightweight client-only users who only do transactions and don't generate and don't participate in the node network. They wouldn't need to download blocks, just the hash chain, which is currently about 2MB and very quick to verify (less than a second to verify the whole chain). If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes. At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.
- snip -
lightweight client-only users who only do transactions and don't generate and don't participate in the node network. They wouldn't need to download blocks, just the hash chain, which is currently about 2MB and very quick to verify (less than a second to verify the whole chain). If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes. At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.
- snip -
- snip -
The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate.
- snip -
The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate.
- snip -
every idea that created bitcoin seems to fade away.
No. Al the ideas that created bitcoin still exist today and are operating just fine. What fades away are all the misunderstandings, and silly pipe dreams that users have when they are first introduced to the concept and don't know any of the facts yet.
back the dream was in a world where you could buy or hire anything in bitcoin,
And more products and services are available all the time. I've purchased a TV, a camera, a local newspaper subscription, a Dish satellite TV service, food and drink at a restaurant, and paid for a hotel. All with bitcoins.
the government will never be able to prove your wealth you own in bitcoin and thereby you need not pay taxes or pay them little and keep all your wealth yourself!
There's nothing special about Bitcoin in that regard. You can just as easily store all your wealth in physical cash (such as U.S. dollars) and keep them all hidden. As long as you hide them well enough, "the government will never be able to prove your wealth you own in U.S. dollars". Of course, just like with U.S. dollars, the tricky part is hiding your bitcoin well enough that they can't find it (or determine that you own it). This is known as tax evasion, and is a crime in most jurisdictions. Failing to pay the taxes that your jurisdiction demands of you is a risky decision that is likely to result in prosecution.
Thereby, the hard to earn wealth that you earned with hard work is all yours!
But if this was true by now, some few millions from the trillions kept in Swiss banks should have flown into bitcoins market cap!
But if this was true by now, some few millions from the trillions kept in Swiss banks should have flown into bitcoins market cap!
Perhaps it has? Of course many of those that might want to hide their wealth are also concerned about protecting their wealth from the volitile nature of the bitcoin exchange rate while it's still being established.
But are you losing hope?
No. I'm still confident in the long term potential for what bitcoin can bring to the market.
you still think bitcoin will free you one day from paying tax?
Still? I never thought that in the first place. I've been reporting income and paying the taxes on everything that I earn from bitcoin related activities since I started in early 2012.
January 29, 2015, 12:11:42 PM
Tax evasion is easy enough with flat, with bitcoin it's a peach. It's not a crime if you don't get caught.
January 29, 2015, 12:07:31 PM
BITCOIN. ONE STATEMENT. ELECTRICITY WHORE ! LOTS OF WORK AND NO RETURN WASTED MONEY AND EFFORT .
Satoshi is back.
January 29, 2015, 12:04:54 PM
i belive a lot with bitcoin with realistic this year its a new adoption
not to late.
not to late.
January 29, 2015, 12:02:02 PM
i always see bitcoin as an easy and cheap way to to perform cross border transaction, it is much easier then using CC or bank transfer
January 29, 2015, 12:00:54 PM
Death can save some people from taxes, but your remaining family might have to pay too much.
It's usually better to pay taxes then having to worry about being caught.
It's usually better to pay taxes then having to worry about being caught.
January 29, 2015, 11:55:22 AM
I never thought it would ever free me from taxes.
Only 3 things for sure in life; Birth, Death, and Taxes
Only 3 things for sure in life; Birth, Death, and Taxes
Disagreed for me
Only two things for me and they are Birth and death like you said but without taxes . Bitcoin will free me to pay taxes or any other Online payment method , in my country no one basically use Paypal etc ... and they don't really care so any kind of digital money you have is safe and they won't know about it at all . and Bitcoin is even better then Paypal so yeah ... BTC forever <3
~ Madness.
January 29, 2015, 11:49:17 AM
I never thought it would ever free me from taxes.
Only 3 things for sure in life; Birth, Death, and Taxes
Only 3 things for sure in life; Birth, Death, and Taxes
January 29, 2015, 11:43:59 AM
Is this dream even still alive?
regulated exchanges are popping up..
mining is increasingly becoming centralized!
every idea that created bitcoin seems to fade away.
back the dream was in a world where you could buy or hire anything in bitcoin , the government will never be able to prove your wealth you own in bitcoin and thereby you need not pay taxes or pay them little and keep all your wealth yourself!
Thereby, the hard to earn wealth that you earned with hard work is all yours!
But if this was true by now, some few millions from the trillions kept in Swiss banks should have flown into bitcoins market cap!
it does not happen till now because bitcoin is not anonymous and only projects like dark wallet may be the the final spice to add to complete the recipe!
But are you losing hope? you still think bitcoin will free you one day from paying tax?
see, I am not explicitly saying that bitcoin was created for tax evasion, but rather implying that crypto currencies will eventually result in people to be in control of their wealth and that eventually will be disruptive to the state
regulated exchanges are popping up..
mining is increasingly becoming centralized!
every idea that created bitcoin seems to fade away.
back the dream was in a world where you could buy or hire anything in bitcoin , the government will never be able to prove your wealth you own in bitcoin and thereby you need not pay taxes or pay them little and keep all your wealth yourself!
Thereby, the hard to earn wealth that you earned with hard work is all yours!
But if this was true by now, some few millions from the trillions kept in Swiss banks should have flown into bitcoins market cap!
it does not happen till now because bitcoin is not anonymous and only projects like dark wallet may be the the final spice to add to complete the recipe!
But are you losing hope? you still think bitcoin will free you one day from paying tax?
see, I am not explicitly saying that bitcoin was created for tax evasion, but rather implying that crypto currencies will eventually result in people to be in control of their wealth and that eventually will be disruptive to the state
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