Transaction fees are a tax on BTC - page 3.

palle11

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

I just don't agree that transaction fees are tax on bitcoin. Transaction fee is just what it is which is a charge on the transaction carried out for an investor. For instance, banks do charge for services done for a customer and that is not referred to as tax.

Tax is charged by the government and that excludes the charge for service from a company.

Ayaancool

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

Yes, of course, no one would like to pay fees for anything, if anything gets for free then everyone is really happy. What you think is this fare. I don't think so , for example : if your a stationary store owner. Do you sell your products on the exact same buying price or sell it for the buying price that added with your profit?.

thirdprize

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Quote from: ?? on ??

Quote from: bons on March 09, 2018, 07:07:23 AM

Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do Wink

You can't expect a mailman to eat dirt after their service is done regardless of how far they had traveled. Same goes to miners that confirms the transactions in the blockchain, I had answered this not that long time ago. Whether you want to pay transaction fees or not, the miners will be the one to confirm your transactions and you can't avoid that and you have accept that

OP here. I suppose what I was getting at is, you pay a fee to a private company but you pay a tax to the government. The miners are more like a government as the whole Bitcoin infrastructure depends on them. You can't NOT have them just as you can't NOT have a government. It is non negotiable. If it was a fee you could bargain and take your transaction to the cheapest miner.

taiginabo

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

These transaction fees are involved with all payment mediums. May be we can do something to reduce the transaction fees in case of bitcoins.

joel123

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I guess this is one way to look at it. We really didn't expect to just use it for free so yes, I agree with the fact that fees are a tax on bitcoins and I do not mind this at all.

espiapogi1994

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I agree.

for tax on bitcoin because we can not do it because it's the law, just do not waste it because they have a positive attitude. should be equal in all Sad

obinine

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Truly, the expenses area unit comparatively high relating btc dealings. Since, at that time varied people likewise falter to complete some exchanges nonetheless at a similar time they dither visible of the developing charges day by day.I concur the diggers affirm the exchanges and its their expenses , for a typical man like ME the expenses is damn high, charges should be organized well and then over to accomplish additional exchanges within the pipeline. once charges area unit bated, people can get the safe place and empower them accomplish additional exchanges.

Tapyaks72

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Quote from: gribble on February 20, 2018, 02:32:41 AM

Payment transaction of fees on bitcoin is expensive and it is not good for a little amount of transaction in bitcoin, but doesn't mean it is like taxes on the government, it is something different. Huge transaction fees on bitcoin is big problem on bitcoin, that is why the community are looking for the solutions with the hard fork of bitcoin's network and right now the lightning network on bitcoin. We hope this problem can be fixed soon.

Yeah to run the technology is entail payment because we are using power and infrastructure that is why we should pay a transaction fee which is also reasonable. But thanks to the peoples who try to make thing for the better like using renewable energy to power infrastructure because in that way will lessen our services fees.

tee-rex

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

The fees are definitely not a tax. Surprisingly, transaction fees are our payment to miners for doing their job, that of confirming transactions. Whether these fees are too high is another question, though. In any case, you may want to consult the dictionary to find out what the term tax actually means. Also, no one forces you to pay the fees because you can send coins with no fee, though your mileage will vary, obviously.

jaaeeeyyyy

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I do think that consumer or users cannot be taxed as long as we are doing right in the exchangers. Government should held a hand on exchangers, not on users. Although service is not free, the transaction fees should includes the tax from the users.

bons

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Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do Wink

john_nautica

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

the tax should always be applied to the miners, because we know the mining system relies on income from each transaction. so maybe at this time the fee is a natural thing and we can not refuse it.

richmcrich

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Quote from: cschy01 on March 07, 2018, 01:49:37 PM

Actually in my personal opinion transaction fee and Tax both is not same.Those are totally difficult from each other.Tax is an amount of money that you have to pay to the government so that it can pay for public service and there are no Tax option in bitcoin marketing system.On the other hand transaction fee is the amount of money which you have to pay for transaction your currency and this rule is available in bitcoin marketing system.Not only for bitcoin but also transaction fee is applicable for all online currency transfer system.

Yes I agree on the fact that taxes and transaction fees both aren’t one and the same thing. Tax is the amount that is paid on one’s income i.e. tax is paid on the gains and transaction fees is inevitable whether one has gain or loss. Tax is a particular percentage that must be paid on the gains one has and transaction fees is amount that must be paid to miners in return for a transaction to get confirmed. Transaction fee is must whether it is in crypto market or fiat market, one must pay it no matter what.

Taxes are not needed to be paid if one has no gains. To balance the crypto market, paying of transaction fees to the miners is necessary as it is necessary to pay transaction fees to bank for continuation of its operations and provide its customers facilities.

xhoondilan

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I think taxen on transaction fees is fair enough because the miners wont be encourage to mine if there is no extra income on there work and all transaction usually have tax thats why we get used to it, also taxes makes the country grow and also with the business.

cemburu

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

But after all, we must all comply with the specified taxes. As big as taxes, surely only what percentage. I think it is not too draining the money we have.

nick_nick

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Quote from: aoluain on February 16, 2018, 11:37:04 AM

Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

i wouldnt agree, fees are not like taxes, and fees are not a tax on transactions.

We need computing power to complete our transactions, and those transactions
are grouped into a BLOCK. The miners provide a service to process those blocks
and without them its not going to happen.

Now, this thread could open a debate on "mining" and the seemingly centralised
form it has taken and the actual costs per transaction.

But in the end, there has to be miners and they aint going to process our
transactions for free.

I perfectly agree with your view. We should try and distinguish taxes from fees. Taxes are compulsory payments impose on goods and services; however fees are charges on a particular transactions.
We don't expect our transactions to be processed for free and thus shouldn't confuse fees with taxes

fasdorcas

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Quote from: thirdprize on February 16, 2018, 10:54:10 AM

Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.

No one wishes to pay taxes as the money they have earned in through hard work, but in order for the balance to be maintained and the development to continue one has to pay taxes. Taxes indeed are inevitable. Transactions fees go to the miner, to encourage the mining of a specific crypto and to promote people to mine it and also for the hard work they do in order to confirm transactions, so they deserve it.

We also pay taxes on crypto exchanges, just the difference is that money goes to the owner of the exchange and not miner. To own anything and to buy/sell/trade anything in the world, one is compelled to pay the taxes. There is no running away from it.

Doge dealer

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no one should have an issue with miners because they are the lifeblood of this ecosystem , as you said taxes are inevitable even if its at the point of conversion to fiat or vise versa .I think this is another reason why the countries who have instituted taxes make them so high because at the end of the day billions of dollars in crypto are moving around and they are not collecting any taxes from it , whereas had these monies been in fiat money they would be collecting taxes on each transaction, so as a result of this situation they simply target the persons at the point of re-entry into the fiat system .i would differ because in my opinion transaction fees are the salaries for the miners , mining is integral to our system.

SiDtHeBeSt

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Yeah, exactly. Transaction fees are like a tax which is being paid to the miners who carry out our transactions. People never want to pay transaction fees, but they don't understand that without transaction fees a transaction cannot be conducted. Why would people do cryptocurrency mining if they don't get anything from it?

Aleksandr_ov

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Yeah, I think Bitcoin will start to lose popularity when the commission for the transfer will be equal to the price of the car)) And taxes are thereby getting more and more! this is not the case .... ((

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