Topic: Two things are certain: Bitcoin and Taxes - page 5. (Read 7445 times)

every country that has taxes is like this and i doubt that there is any place that don't take taxes, you pay them if you have a job and a salary, if you own some property like house, or even you are paying taxes when paying the bills or buying stuff.

Bitcoin users are increasing and so as its transactions and the government is aware of this that's why they would find a way to get their share of the pie through taxes. They are enjoying it when people use fiat currency because they have their share and now that a new currency has been circulating that they don't have control yet, they will find a way to get hold of it since there is a possibility that their budget will be lessen due to transactions that they can't charge taxes on.

Also here in my country that government not yet imposed tax in digital currency and it is good to most users in here my country that we can exchange or spend bitcoin free to tax that is why every time i spend my bitcoin i feel discounted in every transaction i made.

different from my country. the government knew about bitcoin and they have passed laws that virtual money and bitcoin is not the responsibility for the government. each person has a responsibility to himself. and bitcoin is not banned inmy country. but even so. the government does not give the slightest tax on bitcoin or virtual money

different from my country. the government knew about bitcoin and they have passed laws that virtual money and bitcoin is not the responsibility for the government. each person has a responsibility to himself. and bitcoin is not banned inmy country. but even so. the government does not give the slightest tax on bitcoin or virtual money

At my country there are not yet rules for bitcoin and another cryptos coins, the users of bitcoin is still low too. I think it will need much time until the government take tax from bitcoin.

Clown you have succeeded at making me laugh.
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One thing that I will have to take issue with is your thoughts on ZERO transaction fees.

Have you ever tried to do a peer to peer transaction without a fee?

FOREVER.
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well, you have made some interesting points and maybe this would even work. but i am not going to find out. once for lack of bitcoins in this quantity, but also as i see the potential to fuck up at one point, so i rather do not take the risk. if you think i am stupid because of that, then this is fine with me. but i know i would live with the constant fear of making a mistake and i guess i would need to move a lot (or is there a different system for a house/flat?).
there are clever ways to minimize the taxes you pay, but your solution is one step to far for me. maybe if i would have bitcoins by the thousands i would be more appealing to me. 

....every wallet is registered, like a social security#.....
perhaps you want to buy a car from a friend. you both agree 5000. taxes due.

today, you can give him 5000 cash and register paperwork for sale of 100. taxes on 100.
future, "they" (governments/banks/irs, etc) will detect transfer of 5000. all taxes due.

what about work under the table or "off the books", for cash? today its possible. future... nevermore. with digital currency, blockchains everywhere, on everything and a mandatory wallet thats registered to you? Doubtful.

remember, if you've ever bought bitcoin using a marketplace (coinbase, bitstamp, bitfinex, etc, etc) they know who you are and what youre holding. all the feds have to do is ask and those companies are usually all too happy to comply.

"well then, i'll move the coins from my Bitstamp wallet to a new wallet and they'll never know"

no. they have blockchain analysis, clustering analysis for this. and companies like coinbase in the US are already required to us it us it to comply with KYC/AML (know your customer / antimoney laundering) banking laws.

anyway, its a bit troubling when you think about it. ironic too. people (or a person) started this whole thing, and it could be our entire undoing.

That is true. So far you don't have to pay taxes on Bitcoin. At least not in my country. But they say that only tax and death areq certain, now someone has also added Bitcoin. 

governments dont need to care about who paid you, or need to care about how much you were paid to start a civil recovery process on you (tax fine)

there are many non-blockchain ways to red flag someone. for instance
if they see someone applying for a mortgage, but have filed tax forms to say they have no income... red flag
but if they see someone buying a house outright, but have filed tax forms to say they have no income... red flag
seeing someone apply for car insurance on a modest priced car. red flag
poor people cannot really afford to maintain a low priced car with no income. so if governments see you driving a car.. red flag
even things like passports and plane tickets.. red flag
their bank account statement shows funds moving in and out that technically should not exist to such a poor person

then all they need to do is make a court order to get you to investigate yourself, where you have to provide proof of payment, etc as to how you were able to maintain a less than poor lifestyle while being poor. while they just sit back and work out how much to fine you to settle their minds. or how much time to put you in jail if they drum up a story that you got funds through criminal activity. whereby you are then really pressured to prove where funds came from including proving it was 'legit'

this is why so many poor people get hit with tax fines.. because its easy to spot a poor person with money then it is for a rich person.

these government tactic end up making poor people paranoid.
EG
even going so far as having no insurance so that they really really need to be watching what they do when they drive.
concentrating harder to not get a speeding ticket, parking ticket, to avoid red flags about a vehicle.
yes you can register a car to a "trust" or offshore entity. but u cant get car insurance on a trust.

cant have any registered property or insure your house/property
ending up as a nomad living in squats (ref: amir taaki as prime example)

I think Bitcoins has no taxes

very precise, it is very good thing to do and I am sure the Government will be able to provide a solution using bitcoin. I think it is indeed highly vulnerable to laundering bitcoin or fraud, for the nature of anonymous bitcoin making criminals can freely do so without a known identity

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.

scant poster, long time lurker here, OP is right.
i've thought about this myself over the past few years.

he's not talking about current systems. so the whole example of registering a car in NM is barely a counter-point.

instead... imagine a not too distant future, where you had to use btc or some other digital currency. and every wallet is registered, like a social security#.
perhaps you want to buy a car from a friend. you both agree 5000. taxes due.

today, you can give him 5000 cash and register paperwork for sale of 100. taxes on 100.
future, "they" (governments/banks/irs, etc) will detect transfer of 5000. all taxes due.

what about work under the table or "off the books", for cash? today its possible. future... nevermore. with digital currency, blockchains everywhere, on everything and a mandatory wallet thats registered to you? Doubtful.

remember, if you've ever bought bitcoin using a marketplace (coinbase, bitstamp, bitfinex, etc, etc) they know who you are and what youre holding. all the feds have to do is ask and those companies are usually all too happy to comply.

"well then, i'll move the coins from my Bitstamp wallet to a new wallet and they'll never know"

no. they have blockchain analysis, clustering analysis for this. and companies like coinbase in the US are already required to us it us it to comply with KYC/AML (know your customer / antimoney laundering) banking laws.

anyway, its a bit troubling when you think about it. ironic too. people (or a person) started this whole thing, and it could be our entire undoing.

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.

Yes, of course our government should really have to put some limitations especially it involves money. They are doing it  to avoid money fraud or laundering which may gives our country into a bad situation against the other countries.

In my minds, at first, bitcoin is made to avoid the system is giving by government because the government is very giving limitations for their civilians. like sending a large of an amount of another people, maybe you will always get examination before.