The thing is even you live in countries with very high taxation, the tax wouldn't took up all your gain/income it just some % of your gains/incomes. Let's say you bought Bitcoin when the price still $10,000/each, now the price is $60,000/each. The tax is 20% of unrealized gain, so $50,000 x 20% = $10,000 you still profit $40,000. If Bitcoin going to the moon and hit $1,000,000 the tax is $990,000 x 20% = $198,000 but your profit is $801,000!
Why should the whale scared of the tax if Bitcoin going to the moon then?
Topic: Is Tax holding back bitcoin from going to the Moon - page 2. (Read 283 times)
The worst thing that the government would do is taxing our unrealized gains. It’s gonna be miserable when that happens, especially if the market is crashing. Right here in the Philippines, they’re just taxing income that is realized (crypto to fiat) and I’m happy for that right now.
Yeah, I believe like most of the opinions expressed so far in the thread that taxes are not a determining factor.
I understand that the OP is referring to Bitcoin not having just taken off. We are at the end of the year, and, according to all the predictive models we have seen, Bitcoin should be going higher. Recall that some models were giving $300k-$500k as ATH for year end.
So no, if Bitcoin hasn't gone to the moon it hasn't been because of taxes, as taxes were already present in previous years when it gave excellent returns. If we end the year below $100k, other explanations will have to be sought.
I understand that the OP is referring to Bitcoin not having just taken off. We are at the end of the year, and, according to all the predictive models we have seen, Bitcoin should be going higher. Recall that some models were giving $300k-$500k as ATH for year end.
So no, if Bitcoin hasn't gone to the moon it hasn't been because of taxes, as taxes were already present in previous years when it gave excellent returns. If we end the year below $100k, other explanations will have to be sought.
Define Moon. It seems to me when people always talk about moon, it's some infinite figure 
We have had Bitcoin go all the way from less than 1 USD to 60,000 USD today and you still say something called tax is holding back Bitcoin?
Most Countries around the world probably still don't have a proper taxation plan for gains made from crypto. Take an example of traders from countries like Venezuela?
We have had Bitcoin go all the way from less than 1 USD to 60,000 USD today and you still say something called tax is holding back Bitcoin?
Most Countries around the world probably still don't have a proper taxation plan for gains made from crypto. Take an example of traders from countries like Venezuela?
It seems like they have their own definition as well. anyway, they think the moon is when the price is achieving ATH day after day non-stop. Well! people have their own perspective in life but this one is ridiculous. I mean, what more they can ask for the price this year? isn't it enough for them for the bitcoin price to reach a massive ATH this year? there will always be next year and there's a high tendency on seeing another ATH again.
I don't think so. Bitcoin will be bullish despite all the tax policies in different countries of the world. The thing that makes Bitcoin bullish, other than itself, is that fiat is in an ill state. So regardless of the tax imposed on Bitcoin, it remains attractive not just to investors but also to those who wish to keep with wealth intact over time despite all the uncontrollable inflation and the regular devaluation of money. Also capital gains tax will only make Bitcoin owners keep their Bitcoin rather than sell them. That's bullish.
I mean, taxes have always been a hindrance with anything money related; but it applies not only to bitcoin but for most things — you could say the same for investing in stocks, starting a business, receiving your wages as an employee, etc. It's not like it's only exclusive to bitcoin lol.
Tax is a thing that you have to accept in real life. You can not live in a nation which has law, regulation and taxation and wish that you won't be taxed. Don't try to do it illegally.
It is fair enough if in other industries like traditional finance, manufactures, etc. everyone are taxed and you are taxed in the same as a crypto investor.
The problem would be whether the margin of taxation in crypto is the same as in stock or other traditional finance or lower or higher.
Sum up, I don't think taxation will be barriers for Bitcoin or crypto, never.
It is fair enough if in other industries like traditional finance, manufactures, etc. everyone are taxed and you are taxed in the same as a crypto investor.
The problem would be whether the margin of taxation in crypto is the same as in stock or other traditional finance or lower or higher.
Sum up, I don't think taxation will be barriers for Bitcoin or crypto, never.
Is it possible that bitcoin isn't as bullish as we all expected it to be because of the crypto tax that every price gains is likely to invite as a form of capital gains? Lets the math, what is the possibility of the whales and all parties that are affected by the capital gains which will attract this tax in having a hand to control(manipulate) price just so they stay below the tax threshold and buy time to take out their profits?
I dont see this way because tax has nothing to do with this because adoption hasnt really stopped nor slowed down and this is mainly an issue of regulation and of course taxation would be automatically attached to it which is inevitable i would say and also whales do knows on how to handle of things in regarding on this one.It cant really be denied somehow that these regulations becomes tighter do really makes the situation harder but it doesnt mean that it could be impossible.We could still make out some cashout without really having any problems on various condition or circumstances but if its something which is really
needed or mandatory then you wouldnt really have any choice.
Define Moon. It seems to me when people always talk about moon, it's some infinite figure
We have had Bitcoin go all the way from less than 1 USD to 60,000 USD today and you still say something called tax is holding back Bitcoin?
Most Countries around the world probably still don't have a proper taxation plan for gains made from crypto. Take an example of traders from countries like Venezuela?
We have had Bitcoin go all the way from less than 1 USD to 60,000 USD today and you still say something called tax is holding back Bitcoin?
Most Countries around the world probably still don't have a proper taxation plan for gains made from crypto. Take an example of traders from countries like Venezuela?
Is it possible that bitcoin isn't as bullish as we all expected it to be because of the crypto tax that every price gains is likely to invite as a form of capital gains? Lets the math, what is the possibility of the whales and all parties that are affected by the capital gains which will attract this tax in having a hand to control(manipulate) price just so they stay below the tax threshold and buy time to take out their profits?
This may be a problem for others, but tax issues in my country is not very well checked, because of lack of organization and arrangements from my country so what we face is a non acceptance of exchange to bank crypto-currency transaction, but if I was paying my taxes with out cheating the government on my job, be it two or three, and I saw it as given to the government for further development then I would not stop adopting Bitcoin because of it. 
Math? What math? I don't think it is possible to calculate how it is going to affect crypto. We can only speculate about it.
Taxes didn't stop stocks from going to the moon, what makes you think it will stop crypto? It will surely draw some attention from crypto but we can't know how big the impact is going to be. There are some people that like crypto because it was unregulated markets and those people will probably leave.
Taxes didn't stop stocks from going to the moon, what makes you think it will stop crypto? It will surely draw some attention from crypto but we can't know how big the impact is going to be. There are some people that like crypto because it was unregulated markets and those people will probably leave.
I would think it would be the opposite. If I have to worry about taxes if I sell I am going to keep sitting on my BTC I would think most other people are the same. If you don't need to sell and your are worried about the tax burden, you will wait till 'later' to sell it and deal with it. Most people buying / selling / trading as an investment see the taxes as just part of the cost of doing business so it does not matter to them.
Just my opinion.
-Dave
Just my opinion.
-Dave
I don't think there's a tax system where people pay more tax on a higher gain without taking more pay for themselves too... I think this has been a common confusion for a lot of people though but there is a chance that if the gain is split over a few years then less tax might be paid (but that wouldn't be by whales, that'd be by the mases of retail).
Is it possible that bitcoin isn't as bullish as we all expected it to be because of the crypto tax that every price gains is likely to invite as a form of capital gains? Lets the math, what is the possibility of the whales and all parties that are affected by the capital gains which will attract this tax in having a hand to control(manipulate) price just so they stay below the tax threshold and buy time to take out their profits?
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