tax for a safer crypto environment | Bitcointalksearch.org

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legendary

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Quote from: costanos02 on June 26, 2018, 11:13:46 AM

Imposing tax on cryptocurrency is much better because it is a good sign that government fully accept and support on cryptocurrency, and it helps the economy grow faster in no time, and it is expected some rules to be followed.

Stop believing the bs that your tax income is spent well by governments, it's not.

Another major stupidity factor is that people believe governments lose out on income if we don't pay tax over our crypto gains and holdings. How can they lose out on something they never had in the first place? If crypto didn't exist there would be 0 (zero) income for governments. Right now they enjoy an extra income stream from people paying tax as forced upon them.

Governments aren't in a position to demand anything from you when it comes to Bitcoin. There is no central authority with the ability to freeze or seize your assets.

We should move away from governments where we can, not further stimulate their extortion and theft practices.

Sony.UK

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Each government have individual perspective of Crypto platform so some countries fix the regulation then they plan to taxes because some peoples are hold the black money in Crypto platform. Tax is the good for economic development of every country so it is always safer to all the investors.

ericaltm

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What governments should do is the following.

Have a section in the tax forms where you insert a 0.014% of your TOTAL CRYPTO ASSETS.
This is the amount you will have to pay in your currency to the government.

You can calculate your own math, but I found this to be a legitimate number where governments could accept this and it wouldn't cause any issues, nor is it a huge amount.

Of course, this 0.014% would only apply if you hold more than xxx$ in crypto. Currently, I think the best is if you are over 10,000$ or equivalent.

sepeda karat

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It would be good but the government can manipulate crypto's service and anonymously because they can trace all the transactions that we all made or they can easily control all system of the crypto or maybe bitcoin so It's a big warning if the government is to tax the crypto.

costanos02

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Imposing tax on cryptocurrency is much better because it is a good sign that government fully accept and support on cryptocurrency, and it helps the economy grow faster in no time, and it is expected some rules to be followed.

jvdp

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Government can be taxed on bitcoin users when they use the trading platform to exchange the bitcoin into fiat cash. This is the maximum thing they can do on bitcoin users mate. Apart from this if anyone hold the bitcoin in the private key secured wallet.
None can put the taxation on them. Then government cannot stop the bitcoin usage or anything happening around that.

maxreish

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If they will fo a group that ensure individual's safety, then I will agree on the taxes our government tend to add. If it is worth taxable then there is no problem on my side. Hope in reality, our government will implement that scenario like what you have think of to protect us in the future. Crypto transactions nowadays are not a joke so people needs more security from the government if in necessary.

hahay

legendary

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Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Taxes for crypto I strongly agree but let the taxes to help the country's economic growth such as increasing employment, building the city structure for the better etc, fiat transactions into crypto and vice versa is very large, so it's worthwhile for us to pay taxes. Because after all pay taxes very well and positive.

Chrisjay29

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will that will be good. if government will make a assets that avoid scam. but it will be depend on price of the tax. i know taxes is good.because it help your country grow. if it is on good price.

Chachen19

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Quote from: South Park on May 05, 2018, 11:54:13 AM

Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

It would be great if taxes would be used to protect the secure digital money environment, for example, because it would provide maximum protection for transactions as well as protect users from more important code triggers.

krampus854

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Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Well i think no one will be rich in bitcoin because imagine every transactions today has so big fee's and imagine you will add the tax like 3%-5% that is so big right there are so many people in the world that are using bitcoin the government will just use the power to increase each tax.

randyboy

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It would be good but the government can manipulate crypto's service and anonymously because they can trace all the transactions that we all made or they can easily control all system of the crypto or maybe bitcoin so It's a big warning if the government is to tax the crypto.

sharm2121

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For me it will not be safe because government will have the control on it, so its not safe for us especially the people who invest in bitcoin. Bitcoin now is safe and better to invest, so why we should agree to have a tax, and we still using it now freely even if the government doesnt legalize bitcoin.

Jaybitcoin2018

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Quote from: mobiljonson on May 27, 2018, 08:24:01 AM

Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Basically Bitcoin has a decentralized system whose transactions are hard to trace by anyone including the government. This makes a negative transaction rife in Bitcoin

I think if that would happen there would be new policies that would be implemented and bitcoin would no longer be decentralized and the government will have control over it already. Not everyone will be happy about it if that will happen though I know that would not be easy anyway.

mobiljonson

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Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Basically Bitcoin has a decentralized system whose transactions are hard to trace by anyone including the government. This makes a negative transaction rife in Bitcoin

Yadstiker

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Quote from: South Park on May 05, 2018, 11:54:13 AM

Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

I agree and you do have a point out there mate. In other words we need to pay extra taces for us to be VIP or in short for us to be safer in some aspects, but it doesn't reallt guarantee our safety. As what you have said, i think the government are against on using crypto instead, and if they will support such idea it would be a long way process.

Falmera

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Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

It is a good idea indeed. But it just suits to a government whose officials are truly a public servant. Your goals will be hundred percent achieved. Otherwise, if the officials are selfish, our tax will just be wasted. We will be like feeding huge size crocodiles.

Ilegendph

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Quote from: lushlife on May 05, 2018, 11:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

It seems what you are suggesting is like government's regulation on stocks and forex. I believe that your suggestion is good and I will totally agree with the regulation if the government dont interact with the decentralization of cryptocurrency.

no0dlepunk

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Do you really think that if they tax it, the tax will be used for goodness sake? hell no! Once they make it happen, expect huge corruption.

1Referee

legendary

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Quote from: As roma on May 26, 2018, 02:40:40 PM

Bitcoin is not a fiat currency with legitimate status in any country

Bitcoin is legal in Japan. But even if it wasn't, Bitcoin doesn't need the government's blessing to become a legitimate whatever-you-want-it-to-be tool. Who is the government to decide for me what's legitimate or not? I can figure that out for myself, don't need anyone doing that for me. It's always governments this and governments that; can you guys actually think on your own or do you always need governmental input?

Letting a bunch of criminals (yes, governments are criminals) decide for you what's good or bad isn't the right way to move forward. Bitcoin gives you financial freedom, which is an extremely powerful tool. Governments controlling people's wealth means they control the people, it's that simple. Bitcoin breaks through that. It will take time for people to realize that, but eventually more people will become aware of how rotten the system is, and that they have been supporting it with tax payments for decades.

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