Topic: Make sure you pay your taxes to the government that spies on you! - page 12. (Read 5588 times)

Maybe you should ask: what's the end-game regarding Bitcoin and taxes?

Some possibilities:

a) Bitcoin remains a niche curiosity. It's the 21st century "tax haven" and supplants the various Cyprus' and Isle of Mans out there, but fails to starve other regimes. After some more banking collapses, various reforms occur around the world as mainstream finance finally realises it has to step up and perform better. New financial tools emerge: banking transactions become faster and safer, some offer features that were previously exclusive to Bitcoin such as irreversibility and maybe even some degree of anonymity. Governments start supporting various mini cash systems (as long as they get the tax of course), a bit like IPOs or redeemable coupons are fully accepted by society. Ironically, most people end up enjoying Bitcoin's benefits but without ever using Bitcoin.

b) Bitcoin keeps growing. Governments are unable to keep up, and eventually they start toppling due to lack of funds. People embrace this new low/zero tax Anarcho-Capitalist / Laissez-faire regime. Various social turnarounds occur: profit-driven education, health, justice, defence, infrastructure, central-planning, and superannuation (among others) ushers in a new era of prosperity. Even governments in various backward parts of the world end up collapsing as well due to Capitalism's unbeatable competitiveness. People have an epiphany and think "how did we end up tolerating all that authoritarianism for so long?! It's so nice that things are voluntary now."

c) Governments fight back. Being seemingly unstoppable, evil beasts that just won't die, they re-spawn as smart money-makers. How long Bitcoin "0.8" lasts seems irrelevant in the scheme of things. It's just a matter of time before the unfunded infrastructure collapses under its own weight. However, these money-makers will gladly produce newer, better coins that offer better performance and various other perks in exchange for tax superior fee structures. It's interesting how some people are so strongly opposed to overt taxes yet they gladly pay "inflation tax" and transaction fees under the Bitcoin model (in exchange for so little extra services, I might add!). Perhaps it really is just a matter of choice -- the ability to select between a wide variety of voluntary governance providers such as: BTC Guild, Bitminter, or 50BTC. Anyway, it later turns out that people want a bunch of government-ish services after all, and they would rather pay BTC Guild (or whoever) to provide an all-inclusive "social package" rather than wasting time with 1001 individual invoices each week. Unlike option (b) where there are no governments, the people grow to love their voluntarily chosen overlords.

Of course I would pay taxes on any BTC converted to fiat. Until then it's just fake money and I'm playing a game.

I give up.  Are they in Gitmo?

We pay them.  What is the point of the question?

The title is my smartass way of asking:

What happened to all of the upright posters that were so adamant that we all pay our taxes on Bitcoin earnings?