Bitcoin Forum

What is better than goverment taxing bitcoin transaction? Is not this equal to giving recognition of certain value to bitcoin itself as a currency? Just want to state I would be willing to be tax for bitcoin earning (if I do earn anything in future). But it may also mean goverment will get 20%(rough estimate) of our mined bitcoins?

guess you dont know much about law or about searching old threads.

so one last time

when you cash out your bitcoin to FIAT. the government will then want a slice of your FIAT income.

imagine it another way. your american and you go to spain for 6 months and work.

the american IRS will not be tracking your EURO income, so you wont be taxed on euros. but when you return back home and it shows you have more USD then 6 months ago once you cashed back into USD. they will want a slice of that profit

My understanding, in the United States -

A) If you sell a good or service, you are suppose to report the cash equivalent for tax purposes. This is income tax. You do this is you are paid in cash, bitcoins, or comic books. Doesn't matter.

B) If you hold onto the bitcoins and they increase or decrease in value, that increase is capital gains or the decrease is a loss. That gain or loss is only reported when you convert to fiat.

That's my understanding. I am not an accountant.

Will you please commit suicide?
Because I would rather you die than destroy bitcoin!!!

Honestly, and seriously!!!

The world is a mother fucking MESS because of fiat currency and it's "interest" that is paid in the form of Income Taxes.
If you want to perpetuate death, slavery, destruction of civilization, and all other forms of debasement of humanity, I say, "KILL YOURSELF FIRST!"
Then maybe we can move on and have a world that actually has peace, freedom and true values.
But until the last interest bearing victim who desires their own enslavement is DEAD, we will never have a peaceful planet, PERIOD!


Sorry for being less than civil, but I'm sick to death of STUPID PEOPLE who do not study law, economics or civil order, trying to tell everyone else what is good for us, and how they will be willing to place a chip in their body, or go along with the Matrix, because they will feel a little "safer" because of it.

FUCK YOU and your foolish attitude and selfish desires that would sacrifice the freedom of humanity, for your own ends.

GROW UP! STUDY LAW! STUDY ECONOMICS! Because until you do this, the world is better off without you.
:(

Maybe you are too dumb to realize that people DIE EVERY DAY!!!, from lack of food, housing, clothing and water, because of INTEREST ON MONEY!!!!   I.E. TAXES!!!

I don't really want you to kill yourself. Just get a clue, will you?

That's what I would think, certainly, since there's no way to really tell (easily) which address belongs to whom.

All the better reason to buy BTC but not sell it, whenever possible.  Particularly when it becomes more readily accepted as payment by more individuals, merchants, companies, and organizations.

FUCK YOU!!!!

I'll lighten up when YOU.... DO SOMETHING to change the world to make it better!!!!, Instead of posting feel good messages on forum boards.
Are you okay with the world the way it is? Are you happy with this situation we have upon us?
If you are, then FUCK YOU, TOO!!!

Get off your lazy compliant and complacent ASS and DO SOMETHING!!!!

I am NOT happy with it, and I will SCREAM IT OUT if I have to, so people like you will freak out and cower in fear of the rage that some people like I, have about this fucked up system!!!

WAKE UP and DO SOMETHING!!!!

If you are not outraged you are NOT paying attention!!!

The stupid, blind, complacent and compliant can eat shit and DIE!!!!

Then the world will be able to MOVE ON, FINALLY!!!

Because screaming and whining and bitching - yeah, that's you doing your part to make it better!

I do what I do in private, and the world knows nothing of it, except for the people in affect directly.
I have a private life and I teach people and I'm active.

If I scream at some stupid fuck on a message board, because I cannot take the level of stupidity that brought us here to begin with,
it's MY FUCKING BUSINESS, and if it makes me feel good, i'll vent sometimes.

Fuck you, too!

If you had a clue of what I speak of, you would be so sick of it yourself, you would not allow the ignorance to take place, and if it did, you would either rage against  it, or try yet again, to correct it with education. There is MORE THAN ENOUGH education on these boards to straighten anyone out if they need economic correction, but for anyone to come in and advance the concept of square wheels, when we have had the round wheel for 7 centuries, I WILL RIDICULE and BERATE to my hearts content!!!

Just for the sake of a new and better punching bag to beat up on!!!!

FUCK THE IGNORANT, for they have contributed to the downfall of ALL our lives, collectively!!!
If they cannot be healed, and corrected AND CURED, they should be left to die by themselves, so they can leave us with something better!

If you cannot handle the truth and intensity of which I speak with, then go away, and be somewhere else.

   I'll take that hug, and raise you a fuck in the ass!
Thanx!

Rage isn't where you want to be.

Anger is good. It's the emotion that warns you when you're in danger and propels you to take action.

Rage is what happens when when you are unable to take effective action so you just spin your wheels uselessly.

The thing about rage is it means you could be acting, but some incorrect core belief is stopping you. Correct the faulty core belief and you can turn the healthy anger into productive action instead of useless rage.

I do this, 99% of the time. Then, when it's too much stupidity to take, I let go.

Sorry to offend those I respect on the forums and boards. Too bad I have so much passion in my heart, right?

I propose the stupidity test.

Do you believe the government is good and takes care of you? (yes?) Your dead! Off with your head!
Do you believe the Federal Reserve is part of the US government? (Yes?) Your dead, off with your head.
Etc, etc, etc.

Imagine all the stupid people.....living on another world....
I may be a dreamer, but i'm not the only one.....

I'm not sure it's smart to be telling this guy he's been ineffective and that he should be taking action.

http://pcdn.500px.net/8044156/566e85ae825a45aee43ef01a4aa3b68fac4dbb7f/3.jpg

Conformity is for Assholes!

I did similar to that once.

I went through every personal contact in my life and asked myself whether or not I really enjoyed spending time with them or not. Almost everybody at the time fell into the "not" category, including most of ancestors and relatives.

Then I just completely stopped interacting with the people on that list, and found better people to replace them with. Ever since then the existence of "stupid people" bothers me far less than it ever did in the past.

I have stated this before on the forum boards.
The IRS collects Income Taxes for ONE PURPOSE. - To collect "Interest" on the Federal Reserve DEBT that is loaned to us, in the form of fiat currency.
That means one thing.

The Federal Reserve loans 100 BILLION dollars into the US Market in one year. 200 Million of that is INTEREST.
AFTER the initial and original 100 BILLION is collected, another 200 Million MUST BE REMOVED!!!
Where does it come from?

(It CANNOT come from MORE money created out of thin air , and loaned AT INTEREST!!!)

It comes from MORTGAGES and HOUSES REPOSSESSED, and CARS REPOSSESSED, and BANK ACCOUNTS LEVIED, and SEIZED, and people put out ON THE STREETS!!!

That is the effect of fractional reserve banking and Interest in the form of Income Taxes!!!

YOU DO NOT BORROW MONEY, and PAY INTEREST, or SOMEONE LOSES EVERYTHING!!!!  

Not just someone, but today, MILLIONS OF PEOPLE, NATIONWIDE and EVEN GLOBALLY!!!!!

Get a FUCKING CLUE, WILL YOU???

IMO you should watch less of this:
http://t1.gstatic.com/images?q=tbn:ANd9GcQvOZmnwQnGNcYBTAV3ig53YHOlyhP48gwlhPPPN1eTSkyeYm-C

And focus more on this:
http://www.itsuxtobefat.com/files/peace.jpg

That makes perfect sense. It's sad, in some ways, and a shame, but like attracts like, and when a vibration is raised by acquisition of knowledge, those with far less knowledge and unwilling to learn, fall by the wayside of friendship and companionship.

Thank you. I assume you assume me to be angry. If I appear angry in one moment, it may be appearance only, and the vocalization of an emotion may have nothing to do with my current state of mind. Please recognize this, if you are looking to recognize ME.

If you are vocalizing an emotion, then how am I to assume that is not your current state of mind?  Why would one vocalize that which is not on ones mind?

I thought actors did that every day. And they get paid millions, too.
I'm certainly not actor, nor are my emotions an act, but don't we do that everyday in life?
Is not life a stage, and we are all actors in it?

I am not angry with this OP. I am angry with the current state of the world. I would like to see it improved.
If I care to act out an emotion, in a virtual world, would anyone seek to deny that to me?

Why would you or anyone?
Are not my emotions valid?

Thanks

BTW...are you actually educated about my reply, or do you choose to remain ignorant of it, while persecuting me, or trying to judge or guide me in some moral aptitude test?

It all depends if you make a profit. You can not pay tax if you net gain is zero otherwise you would be earning negative amounts each year!


Also if you are employed or self employed (i.e. a company)

Bitcoin's themselves have no intrinsic value accept what you assign to them. If someone wants $500 dollars for a bitcoin and you want a $1000 then they are worth $1000 to you and $500 to them.

What is the value of 1kb or hard disk space?

Also if you are paid in gold it would be considered an asset of the company and you would pay Fiat when you liquidate it.

If you post some absolutely disgusting, repugnant, oxymoronic bullshit like "Bitcoin" and "Tax", in the same threat header and do not expect some kind of public whipping....

Then you are ignorant or stupid.....

Too true - there have been quite a few threads over the past few days with people insisting on paying tax.

JUST USE DOLLARS if it makes you feel better being exploited, do not piss on our party.

Great, but I am not arguing if we shld be tax or not or how to it is done.

I am interested in knowing if the fact that bitcoin tax is being impose lend weight to bitcoin as legitimate currency for anyone or not.

I'm sure there are some people questioning/ridicule your bitcoin 'investments' but will this stop if they know taxes are actually being paid for it? This should also affect the see-saw btc price level.

To me, this have separated bitcoins from other e-currency, fun-fair tokens, see shells, :)

I know, no one like taxes.

The truth is this - the taxes you pay represent no value.

You pay for food, clothes, cable tv without complaining because you feel that there is value in what you pay for.

All the state has to do is stop wasting our money and offer some value. People would then pay happily.

The governments power stems entirely from money - the only way we can force them to change is by denying them the revenue.

By paying tax on Bitcoins the current situation would only get worse.

When in history have governments reduced taxation? If there is any money left over they just spend it and then increase taxes the following year.

Fast forward 20 years and we will be paying 80% tax unless something is done.

Think of it like this - how much have you personally contributed to the war in Iraq that was based on a total lie (Weapons of mass destruction) a million people were killed because of that lie. It is no different to paying a hit man you were complicit in the murder of those people by providing the revenue for the weapons and army personnel.

what concerns me about some of the "entrepreneurs" who are invested big in btc and pushing for its mainstream adoption, is that they keep saying regulation etc (ie more govt involvement) is going to help achieve this, and to address the op's question, say, letting the fiat tax system overarch into btc - will somehow make btc more legitimate?

i dont think btc's legitimacy has anything to do with whether or not its regulated or taxed, its legitimacy starts, surely, with us, the community, the users of cryptocash

now, if govts want to tax btc, then fine, let them try, but for goodness sake dont make it easy for them !!!

tax is a game, let irs and any other country's tax authorities learn for themselves how to play it, at present, the way i see it, im only going to be taxable on any fiat profit i make on the fiat i put into btc, if i sell btc to get fiat back, if i do no converting back to fiat, then there cant be any tax, because you cant pay fiat taxes in anything other than fiat

i hear you bitrebel, i agree the world is a mess, and i know why, and things like btc are a chance for a better world to eventually come about, capitalism is not the problem, banks and government are, and tax is what feeds the beast

so, no one should be breaking the law, educate yourself about what you can and cant legally do, but dont let the trojan horse of govt/tax/govt regulation in

if you do, then btc will be destryed and the last 4 years wouldve been a waste of time

+1

by allowing in a government does not make the currency more or less legal. all it does is move the power of ownership away from the people and towards the government that the regulators are native to.

EG if bitcoin gets regulated and taxed by UK's FSA/HMRC. it will become UK's property. but that does not change its status in australia, canada, thailand, mexico, etc. so why adopt UK regulations as its still foreign to the rest of the world

EG if bitcoin gets regulated and taxed by USA's FINCEN/IRS. it will become USA's property. but that does not change its status in australia, canada, thailand, mexico, etc. so why adopt USA's regulations as its still foreign to the rest of the world


imagine bitcoin as its own country. you don't have to follow the laws of another country!

i would say though that we do develop our own moral compass to ensure that the currency continues to have value. EG training people how to spot scams. how t secure their wallets from thefts. how to operate online stores with cold wallet and remote management to limit online hacks thefts. how to limit the abilities of DDOS'ers.

and to remember you do need to obey the laws of other countries if your business is going to touch their fiat. and that should be the only time you need to obey their regulations. when THEIR fiat is being used.

I think we've determined that there is, in fact, a point in which one has had too many energy drinks.