When Bitcoin will be taxed, will it still be as in demand as it right now?

jakezyrus

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Quote from: bcnaranjo on August 20, 2017, 07:53:34 PM

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

yes i think bitcoin will become more stable as it is now controlled by a government and banks therfor the volatility of bitcoin will be declined or decrease then it could lead to a lesser demand because investors and traders could not make a descent income anymore. bitcoin will be then used as a secondary payment option and will be mainly used for buying offline and online instead of using it as a source of income or job (e.g trading , investing , mining )

notthematrix

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Something so fragile can't be tasked, it's not a fixed value, so it' impossible to tax any of your bitcoins

Dodoymabs

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Quote from: Xanxus024 on December 22, 2017, 10:12:09 PM

Of course even if the government put a tax on bitcoin people will absolutely patronize it, As long as people get can benefit on bitcoin the demand will definitely always high. The question is how can the government detect who are the users of bitcoin and besides bitcoin is not yet legalize but also not yet ban.

This is the issue that is not yet solved until now. Btc community are trying to avoid the government tax but in any other ways, some countries try to find ways just to get taxed from btc. Anyway, still btc is decentralized and I think eventhough government will success about btc to have taxes, still it will not affect the btc community.

jbarcenas18

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Quote from: Xanxus024 on December 22, 2017, 10:12:09 PM

Of course even if the government put a tax on bitcoin people will absolutely patronize it, As long as people get can benefit on bitcoin the demand will definitely always high. The question is how can the government detect who are the users of bitcoin and besides bitcoin is not yet legalize but also not yet ban.

Possible, bitcoin will be taxed if the government willing and create a law for a person who earn on it, but that is a long process. Bitcoin will still in demand because people depend on it and it is great help for us.

Xanxus024

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Of course even if the government put a tax on bitcoin people will absolutely patronize it, As long as people can get benefit on bitcoin the demand will definitely always high. The question is how can the government detect who are the users of bitcoin and besides bitcoin is not yet legalize but also not yet ban.

danielnamit

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Once the bitcoin was officially accepted by the different country, of course, they will file tax to it accordingly. For example here in the Philippines since this is a third-world country, they will use bitcoin as an asset that can help the country to develop more and face issues regarding economy.

~V~

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In many countries, buying Bitcoin already is a taxable event, but that never was enough reason for people to stop buying it.

Nascor

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many are using Bitcoin for this exact reason, it's difficult to tax

Until now only about 800 BTC holders/year report their BTC earnings. Even if the government wants to tax it, they can't - at least not at this time

that's why the want to regulate the entire thing, once it's regulated things will be easier for the government

Freezingel

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Quote from: bcnaranjo on August 20, 2017, 07:53:34 PM

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

I think the demand for bitcoin will remain high. We are being taxed in form of the high transaction fee and i don't think additional tax will change anything.

Iyeman

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Quote from: Etaurith on September 21, 2017, 04:53:23 AM

Just to let you know anything that is involved with receiving money in any form, that is counted as income is taxable by law. It does not matter what kind of money you receive it in. So i think bitcoin will never stop growing.

Even your salary was included in the taxation too and that already applied in my country. If there is a chance to take the advantage from something to get the money and why not? said the governors.

Etaurith

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Just to let you know anything that is involved with receiving money in any form, that is counted as income is taxable by law. It does not matter what kind of money you receive it in. So i think bitcoin will never stop growing.

fabrizoc

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Quote from: bcnaranjo on August 20, 2017, 07:53:34 PM

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

there is no central bank governing the market so I don’t expect it to be taxed and even the transaction fee being paid to miners for transactions should be a form of Tax too, maybe it should be PAYE(pay as you earn) form of tax for bitcoiners.

matchi2011

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Quote from: Colt22 on August 29, 2017, 01:41:43 AM

Quote from: TheBTCAlex on August 28, 2017, 08:43:37 AM

Not really, I think not. The most sought-out feature of BTC I think is that it is decentralized and government can't control the transactions and interfere with any kind of taxation. That will definitely cause a huge amount of decrease in demand for BTC. Also, I think the current transaction fees is pretty huge, and if more taxation would have been introduced, then the average person would also stop bitcoin, thus decreasing the demand of BTC furthermore.

Yes, the only one thing bad about bitcoins now is the taxation they are imposing in name of fee. As you said, it is so true that even now many people are just leaving bitcoins for the fee becoming so huge and it’s not profitable somehow. And if it is taxed under government rules then definitely there will be a decrease in bitcoin business.

I don't think it can be compared to tax and trnsaction fees are necessary for bitcoin to survive. We can't just do transactions like sending money, or making purchses without transaction fees as bitcoin or crypto in general wouldn't have a way to sustain it for a long time.

Palider

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Quote from: bcnaranjo on August 20, 2017, 07:53:34 PM

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

I don't think so if the bitcoin accepted by the government and make a tax expense? i think the demand of perhaps there are some who will not use it, because they have to be mistreated because of the tax expense. But you will still earn more in the future if you are going to get a hold of it. Possiblw will be increase and demand it is because it covered by the government.

Colt22

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Quote from: TheBTCAlex on August 28, 2017, 08:43:37 AM

Not really, I think not. The most sought-out feature of BTC I think is that it is decentralized and government can't control the transactions and interfere with any kind of taxation. That will definitely cause a huge amount of decrease in demand for BTC. Also, I think the current transaction fees is pretty huge, and if more taxation would have been introduced, then the average person would also stop bitcoin, thus decreasing the demand of BTC furthermore.

Yes, the only one thing bad about bitcoins now is the taxation they are imposing in name of fee. As you said, it is so true that even now many people are just leaving bitcoins for the fee becoming so huge and it’s not profitable somehow. And if it is taxed under government rules then definitely there will be a decrease in bitcoin business.

olubams

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Even when the transaction fees was the highest, a lot of people didn't mind the transaction fees and still carry out their transactions. It was even at this point that we witnessed quite an amount of growth in the price of bitcoin which means despite the high charges, a lot of entries was still been recorded and I don't see taxes been any different because but the issue there would be that there won't be any form of anonymous transaction again.

Nivir

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Regardless of bitcoin being accepted by the government I think we are already taxed with every transaction we make out of bitcoin. So there won't be much difference of its demands because it will just stay as it is.

Qartersa

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Quote from: allthingsluxury on August 28, 2017, 12:29:11 PM

If you buy and sell BTC for a profit, technically you need to be paying taxes legally on the gains and therefore, you are being taxed.

Regardless of whether you buy and sell bitcoins, you still have to pay some sort of taxes. If you bought some at a low price and sold it at a high price, even if that is not your main line of business, you still profited from that sale. The governments have a right (yeah, freaking stupid) over those funds. It is stupid to assume that taxes will never affect bitcoins.

allthingsluxury

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If you buy and sell BTC for a profit, technically you need to be paying taxes legally on the gains and therefore, you are being taxed.

Altero

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Probably it could affect the bitcoin world but not big enough that could make bitcoin into down. But probably it will back to its normal status as what is bitcoin now. Yes it is still in demand from the market because the community have already familiarize about bitcoin. Tax that have collected by the goverment is just a small amount and still they are earning from bitcoin.

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