Topic: Two things are certain: Bitcoin and Taxes - page 2. (Read 7445 times)
the first dought that hit me is why should i pay anything to government when they are not directly or indirectly doing anything on this system they are not even giving there names its just a government free system and on the second thought government or fedral agencies are free to take whatever action they want to make country more market achiving or better
There is no way the Government to impose taxes on bitcoins. The main reason is that it does not consider it as money therefore no income. Especially, in the provided services in many countries is considered as an agreement between two parties. To buy/sell goods it turns it to local fiat currency so it’s taxed. If she decides is easy to request the records of transactions from banks or exchanges. If it does though it will officially accept it’s existence as money like other fiat and so on
I doubt many of you care at this moment what Bitcoin is capable of achieving.
Most likely one of the most efficient automated taxation schemes on planet Earth.
I believe many of you gamblers and builders of the Bitcoin ecosystem haven't paid a dime yet to any of your local governments (that require them).
It's starts with voluntary taxation (exchange fees and transaction fees) but just wait until just the right "Federal Reserve" type coin gets released and fully adopted.
Then be prepared to repeat history as you breathe life into the new "State of Government".
Easy money comes at a large price.
Nothing in life is free.
Are you ready to sell your seed right up the river?
So quick to lay a brick on a building that should be condemned?
WHEN LARGE FINANCIAL INSTITUTIONS ADOPT BLOCKCHAIN TECHNOLOGY IT IS BECAUSE THEY SEE ABSOLUTE UNTESTABLE POWER.
The animals start the engine and then they show the world how bad you are mucking it up then they take it over.
It's that simple.
Bagged, tagged, and taxed.
It still not an official about these thoughts, I mean it just speculation.Most likely one of the most efficient automated taxation schemes on planet Earth.
I believe many of you gamblers and builders of the Bitcoin ecosystem haven't paid a dime yet to any of your local governments (that require them).
It's starts with voluntary taxation (exchange fees and transaction fees) but just wait until just the right "Federal Reserve" type coin gets released and fully adopted.
Then be prepared to repeat history as you breathe life into the new "State of Government".
Easy money comes at a large price.
Nothing in life is free.
Are you ready to sell your seed right up the river?
So quick to lay a brick on a building that should be condemned?
WHEN LARGE FINANCIAL INSTITUTIONS ADOPT BLOCKCHAIN TECHNOLOGY IT IS BECAUSE THEY SEE ABSOLUTE UNTESTABLE POWER.
The animals start the engine and then they show the world how bad you are mucking it up then they take it over.
It's that simple.
Bagged, tagged, and taxed.
Even so, it will different depend on which government issues the regulations about this due to every country have different in perspective and how they run governance. However, these situations could be happen in many countries and we just have to prepared and set backup plans.
This is something that shoul happen on the next years, legalize bitcoin would mean have to tax them, as long the countries dont make the tax too big, i dont believe it can damage directly anybody, as long our identity keep safe. Imagine some hacker acess the portal where we can make the payments and collect all adress and users bitcoin ammounts, we would be starting a war, and this is what scares me, even having a low ammount ot coins, i do like my privacy.
I agree with this. Taxation is sort of inevitable thing that is going to happen to btc if it is to be recognized by the governments and if it is to become a lot more popular than it is now. My guess is that it might slowly ruin the whole idea of btc, people might just start using another currency and we will have some kind of the war between taxations and new currencies to use till they aren't taxed. However, there are good things coming along with taxation. Ability to pay in the supermarkets or buy tickets using btc, for example.Bitcoin is already recognized in the US. Correct me if I'm wrong on this, but in the US Bitcoin is legally considered to be a traded commodity, so it is already taxed like any other commodity being traded in the US commodity markets such as precious metals or crude oil markets. In Europe Bitcoin seems to be quite legal too, though it is mostly considered as a foreign currency, and as such it shouldn't be taxable.
While I agree that Bitcoin, in its current state, should be nontaxable, there are some dues that have to be paid. Those can come later, though.
This is something that shoul happen on the next years, legalize bitcoin would mean have to tax them, as long the countries dont make the tax too big, i dont believe it can damage directly anybody, as long our identity keep safe. Imagine some hacker acess the portal where we can make the payments and collect all adress and users bitcoin ammounts, we would be starting a war, and this is what scares me, even having a low ammount ot coins, i do like my privacy.
I agree with this. Taxation is sort of inevitable thing that is going to happen to btc if it is to be recognized by the governments and if it is to become a lot more popular than it is now. My guess is that it might slowly ruin the whole idea of btc, people might just start using another currency and we will have some kind of the war between taxations and new currencies to use till they aren't taxed. However, there are good things coming along with taxation. Ability to pay in the supermarkets or buy tickets using btc, for example.Bitcoin is already recognized in the US. Correct me if I'm wrong on this, but in the US Bitcoin is legally considered to be a traded commodity, so it is already taxed like any other commodity being traded in the US commodity markets such as precious metals or crude oil markets. In Europe Bitcoin seems to be quite legal too, though it is mostly considered as a foreign currency, and as such it shouldn't be taxable.
This is the perks of being popular of bitcoin now, governments will try to use it for their countries benefit (as might they say) but for us bitcoiners it is a negative impact we use bitcoin to gain more and if ever it will be acknowledge by the government chances really is our btc will be lessen . Just like in our Jobs no matter how increase happens it cant be enough because the increase in tax goes high too.
This is something that shoul happen on the next years, legalize bitcoin would mean have to tax them, as long the countries dont make the tax too big, i dont believe it can damage directly anybody, as long our identity keep safe. Imagine some hacker acess the portal where we can make the payments and collect all adress and users bitcoin ammounts, we would be starting a war, and this is what scares me, even having a low ammount ot coins, i do like my privacy.
I agree with this. Taxation is sort of inevitable thing that is going to happen to btc if it is to be recognized by the governments and if it is to become a lot more popular than it is now. My guess is that it might slowly ruin the whole idea of btc, people might just start using another currency and we will have some kind of the war between taxations and new currencies to use till they aren't taxed. However, there are good things coming along with taxation. Ability to pay in the supermarkets or buy tickets using btc, for example.It won't work. We already have to pay taxes for the miners (and sometimes it's expensive), if governments start taking more fees, our profit will decrease considerably and people won't want to use BTCs. The things must continue as it is now, paying taxes only for the miners.
This is something that shoul happen on the next years, legalize bitcoin would mean have to tax them, as long the countries dont make the tax too big, i dont believe it can damage directly anybody, as long our identity keep safe. Imagine some hacker acess the portal where we can make the payments and collect all adress and users bitcoin ammounts, we would be starting a war, and this is what scares me, even having a low ammount ot coins, i do like my privacy.
I agree with this. Taxation is sort of inevitable thing that is going to happen to btc if it is to be recognized by the governments and if it is to become a lot more popular than it is now. My guess is that it might slowly ruin the whole idea of btc, people might just start using another currency and we will have some kind of the war between taxations and new currencies to use till they aren't taxed. However, there are good things coming along with taxation. Ability to pay in the supermarkets or buy tickets using btc, for example. 
This is something that shoul happen on the next years, legalize bitcoin would mean have to tax them, as long the countries dont make the tax too big, i dont believe it can damage directly anybody, as long our identity keep safe. Imagine some hacker acess the portal where we can make the payments and collect all adress and users bitcoin ammounts, we would be starting a war, and this is what scares me, even having a low ammount ot coins, i do like my privacy.
What's so wrong with having to pay tax, anyway ? Isn't tax what paid for the road in front of your house ?
I think it's a problem, because bitcoin user should not pay it, the presence of the tax will tereskpos bitcoin user identity and certainly no longer anonymous from bitcoin
And about the tax, i'm ok with it... as long as it is a small percentage. Here where i live taxes eat people alive... it's just too much and the government still doest give a good service to the people.
I don't believe there are taxes any where in the world for Bitcoin as they are a decentralised currency, no country into the world control them so no tax in near future. So I don't see any need to panic for this. As and when it shall come surely some loophole shall be discovered.
Well we are not fortune teller but i fell that it can be happen we know government are greedy and corrupt so bitcoin money they will take an action in the future and ask for taxes.. even it is decentralized currency.. This is just my own thought but there is still possibility that it can be happen in the future.
I don't believe there are taxes any where in the world for Bitcoin as they are a decentralised currency, no country into the world control them so no tax in near future. So I don't see any need to panic for this. As and when it shall come surely some loophole shall be discovered.
Well we are not fortune teller but i fell that it can be happen we know government are greedy and corrupt so bitcoin money they will take an action in the future and ask for taxes.. even it is decentralized currency.. This is just my own thought but there is still possibility that it can be happen in the future.
What's so wrong with having to pay tax, anyway ? Isn't tax what paid for the road in front of your house ?
Well the government can't print bitcoins, so again, what is wrong with taxing bitcoins ?
I don't believe there are taxes any where in the world for Bitcoin as they are a decentralised currency, no country into the world control them so no tax in near future. So I don't see any need to panic for this. As and when it shall come surely some loophole shall be discovered.
What's so wrong with having to pay tax, anyway ? Isn't tax what paid for the road in front of your house ?
I think it's a problem, because bitcoin user should not pay it, the presence of the tax will tereskpos bitcoin user identity and certainly no longer anonymous from bitcoin What's so wrong with having to pay tax, anyway ? Isn't tax what paid for the road in front of your house ?
Paper money is already a tax in its own right. Because openly taxing people through seigniorage (inflation tax) would be an outrage even for the most corrupt governments and would lead to people abandoning that currency, like what happened in Zimbabwe, governments have contrived a myriad of other ways to tax people and yet more ways to justify doing that.
For example, the road in front of your house.
Each user manages their own Bitcoins, and why people choose the currency, which is their property.
What's so wrong with having to pay tax, anyway ? Isn't tax what paid for the road in front of your house ?
I still don't get it. Are you going to say that the IRS is playing against Donald? If so, what does it all have to do with Bitcoin in general and the IRS interest in finally putting their boot on Coinbase's neck in particular? If Hillary won, would they refrain from meddling with Coinbase? Is the latter affiliated with the Clintons in some obscure way?
What's the catch?
What's the catch?
The catch my friend is a fish in the eagle's mouth.
I'll let that marinate in your brain a bit.
I'd rather think that you don't know yourself what you are talking about mate. If you disagree with that, you may want to explain what you actually meant to say by linking Trump's victory to the IRS poking a stick at Coinbase. I don't see any real connection between these two events. Beside some insane conspiracy theory, of course. They should have contemplated doing that even before Trump won the elections.
Which Hillary was expected to win, by the way.
So Donald Trump wins and the obviously left wing biased IRS now decides to finally put it's boot on Coinbase's neck?
I don't quite understand how Donald Trump's victory may have affected the IRS' decision to poke their nose into Coinbase records. All in all, we could expect Trump to be somewhat negative toward taxes. For sure, he might have been evading some of them himself during his long business career. Or are they trying to imitate wild activity before he fires them all?
IRS, you are fired!
IRS targetting Conservatives.
Trump wins under the conservative ticket.
IRS left wing bias.
Connect the dots.
Maybe the question you need answered is what US president was in charge during the inception of Bitcoin?
B.H.O.
Left wing....
I still don't get it. Are you going to say that the IRS is playing against Donald? If so, what does it all have to do with Bitcoin in general and the IRS interest in finally putting their boot on Coinbase's neck in particular? If Hillary won, would they refrain from meddling with Coinbase? Is the latter affiliated with the Clintons in some obscure way?
What's the catch?
Jump to: