i think we needn't pay tax,no country manager bitcoin,why we have to pay tax?
If bitcoin is consider the alternative of fiat then its just fair to support the govt by paying these taxes if required but if no requirements of such exist then no need to pay the tax.
Topic: Should we pay taxes on Bitcoin? - page 6. (Read 2262 times)
Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.
We want that Bitcoin is a help to every nations economy so to do this we should pay the Bitcoin taxes as per regulation policy as this is our counterpart to the government of supporting it and making it legal. Now if some of the government officials are corrupt then that is another story because if we earned either thru Bitcoin or thru direct fiat earnings it will not change the fact that we as citizens of every nation should pay income tax in accordance of our laws. The good thing is not all government is corrupt but there are lot of government that they are in true service to their people like Japan, USA and Germany.
Why not pay if we are required to do so? right? We should pay taxes not because we have to or we need to but because we want to help street children, and a children that cannot afford to go to school or old people that has a high maintenance of medicine. In that way, we are helping the government as well as our neighbor.
When speaking globally, most of governments are not actually diverting the money from taxes to those noble areas of humanities. Finally, the tax is coercive and thus shall be legally protested by all means. Governments shall be re-programmed so not to ask for taxes.
Imagine giving money to government officials who never do their job. You are supporting the corrupt government.
Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.
We want that Bitcoin is a help to every nations economy so to do this we should pay the Bitcoin taxes as per regulation policy as this is our counterpart to the government of supporting it and making it legal. Now if some of the government officials are corrupt then that is another story because if we earned either thru Bitcoin or thru direct fiat earnings it will not change the fact that we as citizens of every nation should pay income tax in accordance of our laws. The good thing is not all government is corrupt but there are lot of government that they are in true service to their people like Japan, USA and Germany.
In general, Bitcoin is not like the Fiat (Euro, Dollars, Yen..), because their transaction is not expensive (Low fees) and unlike other currencies of the countries, where the size of taxes is large, and unfortunately there is an exploitation of the users, That's why the cryptcurrency is better than FIAT in terms of many characteristics (profit, low fees, no exploitation of their users and more).
In addition to that, thanks to Bitcoin (Satoshi Nakamoto) and cryptocurrencies in general, the world of funds has become better than before in terms of everything. just there are few problems, like, the total rejection of Bitcoin by the majority of countries (governments), and during this period, there is a big attack, that's why the price of Bitcoin in crisis and the same thing in all the market (cryptcurrencies).
Hope that the collective recognition of Bitcoin will be achieved in the near future, and why not one day, we will see Bitcoin as a single coin in the whole world.
In addition to that, thanks to Bitcoin (Satoshi Nakamoto) and cryptocurrencies in general, the world of funds has become better than before in terms of everything. just there are few problems, like, the total rejection of Bitcoin by the majority of countries (governments), and during this period, there is a big attack, that's why the price of Bitcoin in crisis and the same thing in all the market (cryptcurrencies).
Hope that the collective recognition of Bitcoin will be achieved in the near future, and why not one day, we will see Bitcoin as a single coin in the whole world.
i think that it is simple for that system, by only inside that, to pay somebody else is no matter, it can be cause of many crookers
Generally I'm strongly pro-taxes, especially when it comes to corporations which try to avoid it and it's really unfair because small business usually pay all the taxes.
If it's being so unfair and big companies don't pay their taxes, neither the small businessmen should pay theirs.
That is what happens in my country, and what I see are small businessmen afraid to start or continue their businesses, while the big companies control the market, with government being conniving with these big companies, massacring the small ones.
The conclusion is that no one wants/likes to pay taxes, so let everyone run their businesses without paying this or paying much less taxes and let's see what happens with the country's economy. Changes will have to be done, outgoings will have to be decreased, state size will have to decrease.
But in the end, it can work.
But when it comes to cryptocurrencies, I am against taxation of profits from trading or mining. Because people take big risk and it's not fair that government will take part of potential profit but if you loose your money, they will not care. And they will not help you if an exchange scams you or someone hacks your wallet/private keys.
I fully agree with this.
Generally I'm strongly pro-taxes, especially when it comes to corporations which try to avoid it and it's really unfair because small business usually pay all the taxes.
But when it comes to cryptocurrencies, I am against taxation of profits from trading or mining. Because people take big risk and it's not fair that government will take part of potential profit but if you loose your money, they will not care. And they will not help you if an exchange scams you or someone hacks your wallet/private keys.
But when it comes to cryptocurrencies, I am against taxation of profits from trading or mining. Because people take big risk and it's not fair that government will take part of potential profit but if you loose your money, they will not care. And they will not help you if an exchange scams you or someone hacks your wallet/private keys.
If we need to go long run we have to pay tax but someone bought bitcoin at 20K in December what about them?
It depends on the regulations on your place cause some people are paying taxes base on their profit. But I think its better to pay taxes than to be banned using bitcoin, cause after all our profit are much higher compare to the taxes we are paying for which if ever goes to the people who really need that.
In my country, no tax slab or revenue policy is cleared till now. But I think we need to pay capital gain on the profit earned through BTC. If we Sell BTC within a year, we must be liable to pay short-term capital gain & if sold after 1 year then long-term capital gain will be levied on the earned amount. But Still we are waiting for the standard guidelines of the govt. to deal with crypto-income in INDIA.
Paying tax on bitcoin transactions would mean legitimizing that transaction as the government will directly be involved. I know many people here want the various governments of the world to legitimize bitcoin, so they will gladly want to be taxed and enslaved by the same system Satoshi wanted to do away with. Bitcoin is decentralized and should be allowed so. There are other avenues from which the governments can get their taxes/revenue from the people.
I think if Taxes are imposed in any one's country for getting profit from crypto than he should pay taxes to govt because by doing he will abide by law and his money will not be freezed by govt.If one would want to avoid any complications, then it is really just best to follow the rules. Tax evaders are posecuted by the law and unless you want to become a criminal, you must pay the taxes even if it is against your will and wpuld wish to spend it on other things. Whether taxes should be imposed at all is another question and is up for debate but there’s really no choice once it is imposed by the government.
it depend son which country you are living. if your country required all bitcoiner to pay some tax then why not. if you dont want to declare all the income you earn in bitcoin. Then make your computation that will not exceed the total amount of contries annual limit. we should pay tax if need so that we cannot disobey government regulation about tax payment.
Let us always think before reacting or making any decisions? Why is there a tax? Does tax doesn't have a good effect in our life and in our economy? Of course it has a big impact, although given the fact that there are already a corrupt politicians but that does not mean that they are corrupting all the money, of course there are still some part that we are benefiting at.
it depend son which country you are living. if your country required all bitcoiner to pay some tax then why not. if you dont want to declare all the income you earn in bitcoin. Then make your computation that will not exceed the total amount of contries annual limit. we should pay tax if need so that we cannot disobey government regulation about tax payment.
Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.
Yes we should and we "must" pay equal to bitcoin because taxes can help our economy to grow and not just economy but the bitcoin industry itself , it's good thing that it is decentrelized because government cannot control bitcoin and just uses bitcoin for corruption.
At this stage when I'm not loaded with money I don't like the tax idea. But if I had big money in the future, I'll probably want to spend it. But with spending so much money problems will turn up. Government is curious where I did got that kind of money. In that case I would like to come forward and say I have earned it in crypto I will pay the tax and come clean out of it.
i think we needn't pay tax,no country manager bitcoin,why we have to pay tax?
If bitcoin is consider the alternative of fiat then its just fair to support the govt by paying these taxes if required but if no requirements of such exist then no need to pay the tax.
i think we needn't pay tax,no country manager bitcoin,why we have to pay tax?
Bitcoin taxes are coming for sure - it will take a while for the tax authorities to get their heads around it. Although how it should be done is a question, since different countries have different tax rates, and some regimes may implement before others...
Paying tax on bitcoin transactions would mean legitimizing that transaction as the government will directly be involved. I know many people here want the various governments of the world to legitimize bitcoin, so they will gladly want to be taxed and enslaved by the same system Satoshi wanted to do away with. Bitcoin is decentralized and should be allowed so. There are other avenues from which the governments can get their taxes/revenue from the people.
I think if Taxes are imposed in any one's country for getting profit from crypto than he should pay taxes to govt because by doing he will abide by law and his money will not be freezed by govt. Jump to: