Topic: Is Taxing Bitcoins Possible? - page 2. (Read 745 times)
taxes can be implement out side the bitcoin blockchain, because no one can manipulate/control bitcoin, even the government cannot handle this blockchain. meaning the taxes can be implement outside these bitcoin blockchain, maybe outside transactions like withdrawing a huge amount of bitcoin into fiat. or fiat into bitcoin.
I think that's so possible. According to me, the government will give tax for 'bitcoiners' after they makes bitcoin legal.
Actually can be once and not the fact that someone can find out if you have Bitcoin or not, no wonder her Satoshi has created just one word anonymity. Great quote.And in this terrible world comes the one. He rebelled against the system. He taught people to get money to bypass all of these financial bloodsuckers.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
Directly bitcoin to be taxed i think that's never happen, because bitcoin is decentralized coin no body big person behind this great blockchain technology.But, if we converted our bitcoin into fiat then we are going to withdraw any company who accepted bitcoin just like remittances and some bank who recognized bitcoin, if you have noticed when we cash out our money we have an transaction fees either remittances or banks that's already being taxed by our local government.
It would be hard because of the built-in security features that comes with bitcoins, this adds anonymity to the user which in turn makes it hard for the government to be able to tax that user. However, you can classify bitcoin as "property" because of its nature as a currency. taxing bitcoins will be hard, but it is possible.
Yes, it is quite easy for the governments to implement taxes on crypto-currencies trading if they wanted to do it. The South Korea authorities is one good example that shows the world how they can enforce taxation on crypto-currencies exchanges that operates in the country itself, that is also one of the reason that cause bitcoin price to drop dramatically recently.
Please do you have information on how south korea did this, kindly share with me, thanks? 
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
Virtual currencies like Bitcoin have attracted public attention in recent years. Some employees are paid by Bitcoin, few retailers are beginning to accept Bitcoin as a payment. In the recent past, the IRS has clarified the tax treatment of Bitcoin and Bitcoin transactions. In general if you keep your bitcoins as capital assets, you should consider them as a 'property' for tax purposes. The general tax principles applicable to property transactions apply. If Bitcoins are held as equity, such as stocks or bonds, any gain or loss arising from the sale or exchange of the asset is taxed as a capital gain or loss. The main question is to tracking the crypto currencies are not easy today.
I think that's so possible. According to me, the government will give tax for 'bitcoiners' after they makes bitcoin legal.
Yes, it is quite easy for the governments to implement taxes on crypto-currencies trading if they wanted to do it. The South Korea authorities is one good example that shows the world how they can enforce taxation on crypto-currencies exchanges that operates in the country itself, that is also one of the reason that cause bitcoin price to drop dramatically recently.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
In this world nothing is impossible, everything in the world of Crypto will be possible, because we know that the bitcoin community that is now, is very high and it will help what is expected, about bitcoin. ..
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
In this world nothing is impossible, everything in the world of Crypto will be possible, because we know that the bitcoin community that is now, is very high and it will help what is expected, about bitcoin. ..
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
If government will place a tax on bitcoins then cryptocurrency will decrease its investors. Government can really manipulate the cryptocurrency in their country since they are the leaders, japan has really a very good decision to use bitcoins to improve their economy.
I will like to know how exactly Japan has been able to do this, probably it can be copied in my country thus improvingthe economy of my broke state.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
If government will place a tax on bitcoins then cryptocurrency will decrease its investors. Government can really manipulate the cryptocurrency in their country since they are the leaders, japan has really a very good decision to use bitcoins to improve their economy.
Taxing of Bitcoin will become inevitable at some point, the only good news is that they didn't figure out yet how exactly to proceed on this issue.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
I think taxes are possible when you cash your bitcoins, as long as it's the only stage that isn't complete anonymous, in other circumstances how can anyone know and proof that you even have bitcoin and that you accomplish transactions. And if somehow there will appear transaction taxes (apart from transaction fees) bitcoin might lose it's popularity, because the whole point of BTC was the ability to pay peanuts for transfer of money of any amount.
Yes, it is possible, as.an example, government can impose tax on btc when you convert it into cash and have it deposited to your bank account. Also, other countries are already taxing it. It just depends on what they think of your coins.
Taxing bitcoin is certainly possibly, and is currently how it is for most countries. Some countries consider it speculative gambling, others consider it a commodity when sold, but very few countries tax it how they do with foreign exchange, which is due to their refusal to recognise BTC as a valid currency. The ability for a government to determine how much tax you owe through your BTC transactions is likely extremely limited, most will rely on self-reporting systems to estimate tax.
in the absence of clear rules and guidelines some people may decide that it is safer to go to the extreme: either stay under radar and report NO bitcoin-releated income nor capital gains, or pay full taxes (no deductions) on all the bulk sum resulted from selling the bitcoins.
Probably in the future bitcoin will be taxed. I think this will affect the bitcoin user. But it is good for bitcoin as it is protected by law and bitcoin is more secure. it will become legal
Taxing bitcoin is certainly possibly, and is currently how it is for most countries. Some countries consider it speculative gambling, others consider it a commodity when sold, but very few countries tax it how they do with foreign exchange, which is due to their refusal to recognise BTC as a valid currency. The ability for a government to determine how much tax you owe through your BTC transactions is likely extremely limited, most will rely on self-reporting systems to estimate tax.
I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
This is not possible, the government can not control all activities on the internet. And the more you can not test your bitcoin income. Even if you are a good programmer, you can not do this. Uncontrollable taxes, so many countries have banned bitcoin in their country. If you do this you will be famous in the world. Wish you success with your ideas.
I personally don't find it essential to tax Bitcoin or any cryptocurrency on that matter. Why? Every country has different rules on taxation. If that's the case since Bitcoin is available in almost any countries if would be definitely a problem. Or perhaps, there will be a unified guidelines which is accpetable in every countries.Another point is, at the very beginning not many have given attention to this breakthrough. Now that it has been tested, people will burden us.
Jump to: