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Topic: Transaction fees are a tax on BTC - page 4. (Read 622 times)

hero member
Activity: 1274
Merit: 622
March 07, 2018, 02:43:16 PM
#71
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.
Right now tx fees aren't that big and, unlike taxes, which are established by the government aren't established by anyone, it depends on average amount of money people are paying during certain period, miners don't create tx fees manually.
jr. member
Activity: 173
Merit: 4
March 07, 2018, 02:27:24 PM
#70
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.
In my perceptions transaction fees are not tax in bitcoin but rather a sort of payment for maintaining the system made by developers, of course those people behind block chain technology needs to receive enough compensation in providing bitcoin users a way to access and transfer their funds faster and reliable.
newbie
Activity: 66
Merit: 0
March 07, 2018, 02:21:37 PM
#69
the authorities like to be subordinated to ((and this terrifies me terribly, for which they pay taxes, for what we live badly Angry
full member
Activity: 266
Merit: 151
First crypto index traded as a token!
March 07, 2018, 01:57:39 PM
#68
Whether miners deserve a fee or not and whether lightning network will diminish transaction fees and waiting times, there's something far worse than all this. We'll soon have worldwide regulations, which means governments will tax cryptocurrency transactions and cryptocurrencies will no longer be decentralized.
full member
Activity: 294
Merit: 101
Streamity Decentralized cryptocurrency exchange
March 07, 2018, 01:53:25 PM
#67
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.
actually even we need to pay tax still it's ok so that's not a problem think the transaction here all over the world with only low fee in crypto not like other that we need a lot of things to do before transaction and the tax is so big,i think also here have volatile price so at first here we need to pay in that kind of situation so it's not a problem and actually the fees here are only 780 satoshi for 0.005 btc so that's low
jr. member
Activity: 140
Merit: 5
March 07, 2018, 01:49:37 PM
#66
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.
member
Activity: 126
Merit: 15
HodL!
March 07, 2018, 01:26:40 PM
#65
I agree that you can see the transaction fee as a tax. It was at it's highest level on Dec 22nd when the mempool was at it's peak. The average fee was around $55 USD's and the time it took to execute a transaction was quite long.

BTC now has segwit and the lightning network to support these issues. Fee's have gone way down along with the mempool.

I think BTC will become more of a long term hodL asset like owning gold. You essentially have it for the long term and do not transact (unless you need to) or purchase items with it. If you used $3k worth on expedia for a trip when BTC was 10k, a year from now it may be 15k and you would have lost out on the (potential) gains.
full member
Activity: 336
Merit: 100
March 07, 2018, 01:19:37 PM
#64
this cost to provide incentives to the miners who want to make transactions, because the larger the size for the transaction then the greater the need of energy, here also can be used as the cost of other administrsiya. so we can not get out of all costs, and also this cost is called with tax for btc.
newbie
Activity: 50
Merit: 0
February 27, 2018, 02:45:22 AM
#63
Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes.
This is a way of viewing transaction cost of course. However, I agree with you and honestly think it is necessary. You can't expect the miners to pack your deal for you without getting any rewards, it's basically asking people to work for you for free. Thus, I don't get why people hate to pay the transaction fee.
jr. member
Activity: 168
Merit: 5
Now You Can Be The Bookmaker!
February 27, 2018, 01:36:52 AM
#62
Yes, they are like taxes. But I haven't heard anyone talking about taxes imposed by the government. If the government will probably take a part of the bitcoin and altcoin sales then it could start another big impact on the different ICOs and bounties. I don't think it might be a big help aside from getting the right security for each transactions being made.
full member
Activity: 476
Merit: 102
Kuvacash.com
February 27, 2018, 01:28:26 AM
#61

well i don't think Transaction fees can be considered as tax, the whole taxation idea is to to deduct a portion of ones income as a levy to the central governing institution, transaction free is however a service fee,the miners have to pay for using the platform. two different cases
full member
Activity: 322
Merit: 100
February 27, 2018, 01:22:58 AM
#60
Truly, the expenses are relatively high relating btc  transaction. Since, at that point numerous individuals likewise falter to complete a few exchanges yet at the same time they dither in view 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 must be arranged well and after that concluded to accomplish more exchanges in the pipeline. When charges are decreased, individuals will get the safe place and empower them accomplish more exchanges.
sr. member
Activity: 686
Merit: 253
February 25, 2018, 08:10:37 AM
#59
We can not have it all. So paying the miners that confirm bitcoin transactions is a must. We pay commission on transactions consummated in our conversational banks  

Its that simple but i don't understand why some people keep stretching this matter up because the miners must also be paid somehow and how can that be linked to paying taxes? Commissions are paid everyday on our bank transfers and other fiat remittances all over the world and so its nothing new with bitcoin if you are paying a little in transaction fees.
newbie
Activity: 98
Merit: 0
February 25, 2018, 06:10:32 AM
#58
Can I send a bit of bitcoin? Of course, the minimal part of bitcoin is Satoshi. It's like a penny from the ruble
newbie
Activity: 54
Merit: 0
February 22, 2018, 02:17:45 PM
#57
Transaction fees in Bitcoin is likely the gas when you're using the car. Did you consider your paid on gas as a fee for your  car? I don't think so.
legendary
Activity: 1750
Merit: 1115
Providing AI/ChatGpt Services - PM!
February 22, 2018, 02:13:31 PM
#56
No,I don't think so
Goverments not get anything from BTC
Transaction fees not a tax!
Tax doesn't necessarily have to include governments or democracy.OP implies,the fees are for transactions are just like the service taxes paid on purchase/delivery of goods just like the real world ecosystem.
Less does he know that without miners,network wouldn't exist.Here 'tax-paid' is to continue using the currency of the internet.

Well, everything in the world has to be paid. For fast, secure and anonymous payments using Bitcoin too.
In 2018 if you mention 'Bitcoin is anonymous',you're wrong.
jr. member
Activity: 127
Merit: 1
February 22, 2018, 02:08:36 PM
#55
No,I don't think so
Goverments not get anything from BTC
Transaction fees not a tax!
member
Activity: 216
Merit: 17
Xircus
February 21, 2018, 08:30:26 AM
#54
For some reason you can say that its a tax but it is less compare to the real tax.
jr. member
Activity: 44
Merit: 1
February 21, 2018, 06:28:50 AM
#53
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.
If you will not pay transaction fees, what will the miners get. Actually, the transfer fees is much less in comparison to other payment systems.
full member
Activity: 644
Merit: 102
February 21, 2018, 06:13:03 AM
#52
We can not have it all. So paying the miners that confirm bitcoin transactions is a must. We pay commission on transactions consummated in our conversational banks 
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