Bitcoin Forum

I asked chatgpt, and it answered that Bitcoin transactions are generally subject to tax, just like other forms of asset transactions. Tax requirements may vary depending on the laws and regulations of the country where you are located, but in general, the following situations may require taxation:
Earning profits: If you earn profits through the sale or investment of Bitcoin, these profits may be considered capital gains and are subject to tax. Salaries and wages: If you pay or receive wages in Bitcoin, this may be considered ordinary income and is subject to tax. Mining income: If you receive income from Bitcoin mining, these income may be subject to tax. Currency exchange: If you use Bitcoin to purchase goods or services, you may need to pay the corresponding consumption tax according to the laws of the country.

Yes, you need to pay tax from your bitcoin income. If your boss is paying you in bitcoin and not fiat, you still have to pay your tax.

If you mean from the passive earning while you hold bitcoin? Crypto capital gains tax. You will need to read about crypto tax in your country to know about this. There are some countries that have the law already that you have to pay tax of certain percentage from the profit you make from your crypto holding. But that is only when you sell it. If you continue to hold it, no tax.

Actually, it is your right whether you want to pay tax or not, because not all countries regulate crypto trading so there are exchanges that operate and you can make deposits or withdrawals but you will not be subject to tax from it. In my own country, here the government has just implemented crypto trading regulations, so that people who want to convert their bitcoins to local currency on an exchange will automatically be subject to a 0.1% tax on each trade. It does seem quite a hassle, but due to regulatory issues people eventually get used to it.

It's okay to be curious to be cleared from your doubts especially when it gets to do with the funds and assets. Op, try to understand that some countries do regulates by implementing their own policies on bitcoin especially if the government is supporting bitcoin in a large variety to be adopted in the country. Maybe the country may have also subjected bitcoin as part of the resource for income revenues.
So every damn transactions would be charged at this course as taxes because it's an registered assets just as the real estates maybe.

I also hope that you don't misunderstood between taxes and transaction fees Op?

Personally I never ask chatgpt anything, I would rather converse with Humans


Exactly, you dont mention which country you are in so its impossible to answer your question in the
thread title accurately.

It depends on your country and its Tax treatment of Bitcoin, I think most EU countries for example treat
Bitcoin "investments" and profits from that as Capital Gains Tax.

There are exceptions to those EU countries like Malta, Portugal and Germany, I think if you are resident
for over 12 months there is minimal to zero Tax on profits from Bitcoin.

It's never a good idea to ask such questions to ChatGPT. Where you live is a most important part. I personally live in a country where income from foreign countries is not taxed. Crypto incomes also are not taxed. I have never ever paid any tax on any of my income and I have never had a problem. For example, the law requires you to pay taxes if you are self-employed but to be fair, no self-employed person pays taxes in my country, everyone knows that and everyone feels okay about that. So you have to act according to what are the laws and what applies in real life. This is my reality, yours might be different.

So, you have already answered your question on your title and that's why it's needed to do something for the taxes.

Everything that you've gained upon converting your BTC into fiat is considered as income and gain, so therefore you have to declare that to your tax bureau.

If you don't want hassle doing all of the process then just hire someone that works for taxation, an accountant or whoever consultant you want to hire.

Bitcoin transactions are not subject to tax, they are pseudoanonymous, meaning they can't be traced to any individual. Just a signature from one address sending coins to another address. What can be taxed is when you liquidate your Bitcoin to fiat, taking profits.

You should be aware of the crypto regulation in your country through proper research, before making a purchase.

In theory, you need to pay taxes when investing in bitcoin, but most people using bitcoin don't want to pay taxes and they even use bitcoin to avoid taxes. I've even seen people instructing others to use bitcoin to avoid taxes because of bitcoin's decentralization and anonymity.
But if you are a good citizen and want to contribute to your country's economy, you should comply and pay taxes according to government regulations. And I think, there will not be too many taxpayers here so no one will be able to give you accurate advice, and I am also among them.

If there's some law created about people been oblige to pay taxes on their online income then you supposed to follow the law since it might be bad for you if government will find out that you are not paying your obligation to them since maybe they will sue you for tax evasion especially if there's someone will report you to authorities. So to avoid getting into trouble regarding on your taxes then better go to the right government institution then ask for certain advice on what is the next action you need to do.

You should be a good citizen to your country and your taxes paid to them will contribute to the growth of your country so don't regret to pay your obligations to government since for sure those projects will be created by help of taxes paid by people can help a lot of people especially if your government is not corrupt and aim for the growth of your country.

Do not ask chatgpt about your tax form, consult an accountant or tax professional as tax laws vary depending on your country, state and federal laws.
US IRS tax information about cryptocurrencies https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions
In short, every sale that generates profits is subject to taxes.

Wait a minute how is bitcoin income or transactions subject to tax?

This is a wrong assumptions because bitcoin is decentralised and not all it transactions pass through the centralized system so 8t has nothing to do with tax since government doesn't control the flow of bitcoin so any one earning profits from their bitcoin holdings as an asset will no be subjected to taxation unless you exchange your Bitcoin to fiat anf use the money to pay for goods and services that way you may incure value added tax but anything outside that becomes impossible for the government to collect the tax.

But then bitcoin services such as exchange are subjected to taxation if their are licensed.

That would be a logical step considering that the laws are not the same for everyone, and in some countries cryptocurrencies are not recognized at all, therefore you cannot pay tax on something that practically does not exist in your country. I think people like the OP have doubts about such things, but they don't want to consult with their tax offices for the reason that they could suggest that they own cryptocurrencies at all - which can certainly be risky in some countries.

I would describe the whole tax thing in the following way - if you don't trade through CEXs and it's mostly about smaller amounts that pass under the radar, why bother with all that paperwork. If you are a slightly bigger player, have KYC on CEXs, make bigger profits and buy houses, apartments, cars from that, then it would be logical to pay taxes - unless you want someone to take it all away from you one day.

Yep, the tax regulations in each country are definitely different and AI will only provide general answers based on data from Google.
I doubt the AI will be able to provide the specific answers we need, for example:
At the local exchange where I usually exchange crypto to fiat, every transaction will be immediately taxed, but at the end of the year I still have to report it again.
And if I dont that, it will be subject to capital gains tax based on the money that goes into my bank account.

Oh yes, you have to pay your taxes bro if your country demands it and I always encourage people to pay it and not try to play smart in the name of Bitcoin. You may only get covered when it is about the non-custodial approaches, but when it is a custodial and centralised arrangement, you will be exposed. It could even be tough for the government to know if the centralised system is not registered in your country, but in the long run, what if you are a person of interest and you are later exposed? This could be sanctionable or jailable in many country's laws. The thing is that different countries have their tax laws as you stated but I've never seen a country that will exempt you from paying tax on investments, which makes it general.

However, if it is a gain from futures trading, it is still arguably not taxable in some countries, which makes the whole thing complicated. Because if you buy and hold your Bitcoin and also trade it in the futures markets, how do they differentiate the income when they are lumped together? This is often possible if the centralised company is registered in your country and cooperates with the government, they will be able to issue the record on that to the government to know which income to tax and not to tax.

We don't know what the tax requirements are in your country and it's best to ask your regulator to get the right answer. Maybe in other countries, we will only be taxed if we send money from the exchange to a bank account.
But there may be taxes that will be imposed on other crypto users which will be different in each country. And it will depend on each government because they will adapt it to the conditions and situations that exist in their country.
We should follow the regulations set by the government so that we can be comfortable in using crypto.

That is correct and I do not know how other countries implement their laws about taxation but usually even if there is no specific clause for cryptocurrencies taxation there should be at least a place for it to enter.

For example in my country any profit from crypto shall be subjected under capital gains or those assets that you have sold for more than you bought it which gives you profit. I just don’t know how taxation will work if cryptocurrency is not legal or it’s banned in your country.

You should have asked the chatbot about the crypto tax policies in your country. However, if you use a decentralized P2P channel to carry out your transaction, it might not be subjected to tax. Using a centralized platform like exchanges or banks might expose you to taxes.


OP didn't construct his question properly. I assume he wants to ask if his income from Bitcoin will be subject to taxes. Bitcoin transactions is only subject to transaction fees and nobody pays any form of tax.

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I hope this post was not also written by chatgpt?

P2p platforms should not be seen as a way to evade taxes, if you live in a country where crypto is taxed, then you ought to pay your tax. Centralized exchanges and services makes it easy for the government to tax people based on capital gains, when they convert their coins to fiat. However, even if you use p2p platforms to trade your coins to fiat, you are still expected to declare your profit gained to the government, i know a lot of do not do it, but that is tax evasion and it is a crime.

Bitcoin is not altcoins and there is no tax charged by the project team for any transaction.

With Bitcoin, you only have to pay transaction fee and you will only pay tax if you sell your bitcoins. If you only move your bitcoin from one wallet to another wallet, who will tax you?

Because you don't get any profit at all, you don't sell your bitcoin at any price.

Wait, why there are double tax? ???

I thought it's either you get taxed immediately in your local exchange or you will be taxed when you report your capital gains. Perhaps you refer to wealth tax? I'm just guessing since I'm not exactly sure why you could get taxed twice.

Converting Bitcoin to altcoins or vice versa also subjected to tax.

It's not tax, but gas fees.

Paying of task is what we mostly do in cryptocurrency because we are making use of a centralized exchange, but if we had all been decentralized and there is no trace of how our identity could be verified, then we may have the opportunity of waving the payment of tax, of course we should know that the government wouldn't take it easy on exchanges and other centralized means of acquiring bitcoin, not to talk of using their centralized exchange p2p service for fiat currency, we still have to offer a little amount on taxation upon every performed transactions.

Probably depends on where you are. Some countries on paper will require you to pay taxes for any income you get regardless of where it's from. But they really won't take the time to look for each and everyone's source of income, so it would be up to you if you'll declare and pay taxes on your own. I know a lot of people who don't pay taxes and they aren't even in the crypto industry. How much more if you're getting paid in crypto. Again it's going to be up to you if you're willing to declare and pay taxes. I personally wouldn't want to considering how taxes are being used by people in power.

And yeah, I also wouldn't trust AI for accuracy when it comes to tax questions.

it depends on your region and whether or not you're converting your Bitcoin from your wallet into fiat as your income that's in the the commercial banking systems. Most Bitcoin holders don't pay taxes on there Bitcoin most expecially for the ones that are long term holders that wouldn't want to even put there profit in a banking system that's taxable.

But as a citizen of country, it's necessary you pay taxes from the proceeds of your profit either from the profit you've gotten from Bitcoin investments or the profit from your business even if you use Bitcoin as just a mode of payment. Taxes is what helps a nation grow in the provision of the basic amenities and structure you find around you and so regardless of the possibility that you don't do civil service jobs and only made most of your profit from investing into Bitcoin, it's still necessary to pay up your tax.

ChatGPT is correct that whether a particular person has to pay taxes or not depends on the jurisdiction and legislation that exists there. Some countries have an unclear position, some have progressive taxation (with or without a tax-free annual amount), and some have a tax-free position. And yes, there are different kinds of taxes which may or may not need to be paid, which also depends on jurisdiction. Another thing to consider is whether the laws are enforced or exist only on paper, and what kind of punishment one can face for violating the law.

Follow what your country's taxation policy on bitcoin is. Most countries have taxes on Capital gains which incurs when you sell an article and your have some gains from that trade. If you need help, get in touch with a chartered accountant and they can help your file your returns. Dont ignore taxes because they will hunt you after years for unpaid taxes.

Some countries have exuberant taxes on bitcoin, I wish these governments would improve their outlook for once.

Many people avoid taxation, especially tax on Bitcoin. OP, whether or not tax is paid depends on the laws in your country, which have been regulated by the government in your country.
For example:
If the tax regulations in your country are mandatory for crypto users, of course you have to obey them and pay, on the other hand, the tax regulations are not strict, it's all up to you to think to yourself.

Generally, taxes are applied to crypto exchanges, users pay taxes directly and are deducted by the exchange, this way you don't need to pay individually at the tax office, the exchange has deducted a percentage of your crypto transaction tax.
However, if your country applies taxes to individuals for crypto users, there may be sanctions if they are not paid. Pay crypto taxes depending on the tax laws in force in your country.

Crypto tax laws are differs from country to country. In some countries, it is a crime to not pay crypto taxes while in some other countries, there is no law on crypto taxes. I live in a country where the government of the day had banned crypto transactions and are doing all in their power to stop people from using bitcoin or other crypto currencies discreetly. In this instance, whatever gain there is on crypto will not be taxed, it will not be considered tax evasion and therefore not a crime.

Another instance is even if there is an agreement between me and my boss to pay me in crypto because of there are no crypto tax laws, I won't pay any crypto tax. No tax evasion here and therefore, no crime.

It depends on your country because it is not every country that taxes crypto income. In my country for instance, there is no tax on crypto income and the only money we pay is stamp duty which is compulsory for every credit that any account receives irrespective of the source of the fund.

If there is crypto tax law in your country, by all means try and pay because tax evasion is a very serious offence and bailable in most countries. Unless you are prepared to face the wrath of the law, you can refrain from paying your crypto income taxes.
 

It really depends on your country or your nationality. If I speak from the perspective of my country, I am liable to pay taxes on my Bitcoin income. I have been doing it since 2016.

Check your local law around cryptocurrency. Possibly speak to a lawyer who knows about it to get the best guidance. But in majority of the countries, Bitcoin income is considered as income and it is taxed ccordingly.

No, I did not talk about tax from government but tax (sale tax) from cryptocurrency projects. It's not gas and on chain transaction fee, it's sale tax.

Sale tax can be zero, low or high depends on the altcoin developer team and it's common applied with projects with high inflationary tokenomics like GameFi, Metaverse projects.

With smart contracts, altcoin developers are free to set sale tax if they want.

It actually depends on the country you currently living in. If they have legalised Bitcoins and are imposing tax on it, then yes you have to pay the tax in order to make the Bitcoins into cash and into your bank account. If you used a casino which is regulated by the government, then you are bound to pay the taxes. You can also try P2P deals and can avoid paying taxes. But yes, this takes too much hassle and you need to be extra careful while doing P2P deals.

I think it depends on your country and how would they even know your crypto asset or earning if you wouldn't declare it?
It would be hard for them to tax your crypto earning specially if you wouldn't declare all your wallets, and not to mention that there are some airdrops by just holding some crypto on your wallet.

Most countries have started incorporating taxes to bitcoin and other cryptocurrency holdings, I think it is ideal to pay your tax if it gets to that point. For instance, Philippines has digital assets wallet in their banking applications, if for any reason you get to receive money through those applications, you have to pay taxes on them cos it is recorded.

Regarding paying bitcoin tax, I would say that if the government of the country you live in has legalized bitcoin, you must pay tax, and the government of the country that has not legalized bitcoin, or the government of the country where bitcoin is illegal, will never tax bitcoin. Regarding Bitcoin Tax Basically if the government has given bitcoin to Handet Persen legalization under the government then you must pay bitcoin tax.

Hmm, I'm curious about how they are going to do things out there like how can they calculate the income generated in the crypto market, hmm without the OTC deals with the centralized exchanges they are unable to charge taxes on the crypto income. People can bypass it as well using P2P and other services like that. Anyway, there's nothing to worry about for me as in my country it's never gonna be discussed that's how there is a need to plan the policy for the Bitcoin standard because we currently buy into making statements about establishment and government, who knows who is controlling the government and so what to fear haha. just a political joke never mind.

CoinDesk is reporting that Roger Ver is being charged with tax fraud. This will be an interesting case to watch as I’m sure the government would love to come after anyone who used Bitcoin early on for whatever they can. Tax fraud is pretty serious though and would mean he knowingly lied on his returns. This will be a case to watch for sure.

In the US, if you are not an IRS taxpayer, then you don't have to pay IRS taxes on anything, even Bitcoin.

How do you become a taxpayer? By signing any IRS form. Note that the Form W-4 with your employer is an IRS form.

How do you get out of being a taxpayer? Notice the IRS that you have rescinded your signature off of all of the IRS forms you have ever signed.

How do you remain not a taxpayer when you need to sign some of their forms at some times? Note that you need to sign the Form W-4 with your employer, or he may not hire you. If he already hired you first, it is illegal for him to fire you for IRS related reasons. But he can make your life difficult on the job.

If you need to file some kind of an IRS form, on all - or as many as possible - lines, place "n-a." Then sign the form "non-assumpsit, your signature. "Non-assumpsit" means 'no contract' in legal language, but look it up.

The difficult part is remaining outside of assumed contracts when IRS agents start talking or writing to you.

Yes. You became a taxpayer by accidental agreement with the IRS. IRS taxes are totally voluntary. By contract law, if you volunteered in, you can volunteer out.

8)

Basically, YES. I don't know about the other country but most countries including here impose taxes on everything you are earning for, as long as it qualifies to a certain income range criteria, but majority of the investors are not a minimum wage earner so it is almost automatic that the government are after the tax from the profit of any form of investments.
Tax is the biggest scam the humanity ever has, it's just funny the government are requiring you to work hard so they can get good amount of tax out of your hard earned money. So, don't get curious or confused on when to put taxes on everything generally, because again the government will impose taxes in everything you own that generates profit.
There are taxes in everything we buy in the market no matter how small the value is, how much more with bitcoin? when they hear that word, it will give them a ring in the ears with the thoughts of "hey, this person is probably very reach as he owned bitcoin" LOL.

You would really be needing to pay up taxes specially if you are getting that Bitcoin pay  from your day job or simply when your boss is really that giving out that kind of Bitcoin form salary on which deductions would really be taken but if we do speak about that side online jobs that you are getting at then i highly could tell that almost 100% wouldnt really be tending to make out deduction of their earnings.
Majority would really be tending to evade tax as much as possible despite of its main purpose on which people cant really just that easily trust up on how the government would really be using it.
This is why most will really be having that consideration that they will really be avoiding it as much as possible on which its a common approach i would say. If there's no way that government
cant be able to track you down then you would really be hiding it as much as possible.

It is easy to understand that i was talking about countries that have crypto tax law, obviously if a country does not tax crypto, then you are not liable to pay any tax on profits made from your coins.
If you live in such a country, then it is not a case of crypto tax because there is obviously none, but the crime is in using crypto. If your government truly banned crypto like you say, then using it is the crime.

As long as your country doesn't regulate Bitcoin transactions or doesn't consider it as asset class, you should not worry about the taxes at all. I know that in some parts of the world you'll have to pay taxes if you mine Bitcoin but in some countries you don't even have to worry about any kind of taxes because most of the governments don't even care about crypto currency transactions and you won't get any issue even if you don't pay taxes.

It's not an easy task for a country to look for each Bitcoin wallet and transactions and that's why I don't think that users have to pay taxes for the transactions that they make. I have personally never paid any tax for Bitcoin transactions because in region where I live, no one cares much about Bitcoin transactions at all. I recommend you to avoid asking ChatGpt about such questions, that AI is pretty useless and can't give you proper answers at all.

GPTZero -> We are highly confident this text was ai generated - 91%
ZeroGPT -> Your Text is AI/GPT Generated 100%
CopyLeaks -> AI Content Detected

I didn't suspect it at first, but checking the detectors mentioned above, it seems that the OP is one of those who completely rely on AI - of course, this is about the fact that most of his post is just c/p of what he got as a response.

Hey, my bad. My intention is not to recommend a medium by which the OP could use to easily invade tax. Tax invasion is a criminal offence in my country and could lead to prison terms depending on the amount and techniques adopted in the invasion. The government also needs tax to provide the basic needs of the people. I was only answering his question and had no intention to encourage him to commit a crime. 


It is becoming very difficult to dictate these cheats just by reading the texts. This is because they would combine AI-generated text with human-generated text. I wonder why people are too lazy to think and want to always cut corners. For me, it will take more time to use these chatbots to cheat than to develop natural content. 

Hey, so you do have to pay taxes on your income but it does depend on your country. If you live in the U.S. you will have to pay capital gains tax. That said, there are some ways in which you can reduce the amount of tax you have to pay or even bypass it legally. You can read about them here: https://r100k.com/blog/how-to-avoid-cgt-on-cryptocurrency

You might need to pay tax when you are transacting Bitcoin but that does not apply in all regions. There are some regions when you would have to use Bitcoin without any tax payments. Tax is only enforced by the government and their are so regions that taxes in Bitcoin is not yet enforced. I have been using Bitcoin and making transactions without any tax payments and that is how it was meant to be nit for investors that are holding Bitcoin to be paying tax on every transactions they are making.

It depends on your country and the regulation on it. Suppose the government in your country has regulated cryptocurrencies including Bitcoin. In that case, they will have some laws about the taxes and stuff regarding Bitcoin and other cryptocurrency transactions. Still, if they don't have any regulations or any law against or about cryptocurrencies, I don't think you need to declare anything or pay taxes on your transactions because it isn't necessary.

I recently read somewhere that Biden wants to charge a 40% tax on Bitcoin transactions or it was only for miners, I don't remember it well but it was something related to taxes. So yeah, it depends on a government and their rules and laws that they have created regarding cryptocurrencies within the country.

You know part of the reasons the government of most countries are fighting against the adoption of Bitcoin? it is because most users of bitcoin take advantage of the decentralized nature of Bitcoin to maneuver the system and evade, avoid and even reduce their tax rate because they know it will be difficult for the government to trace their income and determine how much of their net income would be taxed. Tax evasion is bad and does not encourage development in any country. It is the duty of every citizen to pay tax to the government of his country therefore, you would be doing the right thing if you keep paying your tax without considering if the government can trace you or not. And to you question, yes you need to pay taxes on your Bitcoin income.

It all depends on your citizenship since many countries do not require you to pay taxes, but most will ask you to fill a form, even if it's an exemption form ;)
In Europe in general the taxable event takes place when you sell bitcoin, not when you receive it. This means that when you get paid for a job you don't pay taxes. When you win bitcoin in casino, or you buy it on an exchange, you don't do that either, but when you buy yourself a new car using that bitcoin, even if it wasn't exchanged to fiat, you're supposed to report that and pay tax.

ChatGPT is unable to provide answers that correspond to reality. If there is something that makes you want an answer that is in accordance with reality, for example regarding taxation of Bitcoin income, there is no need to ask the tool, just ask here in this forum because each country has different rules regarding income tax.

I pay tax on income originating from Bitcoin and other crypto which is deducted directly by the exchange I use in my country at a predetermined amount.
I cannot escape or avoid tax cuts.

Taxation totally depends on your jurisdiction and where you live. For me, Bitcoin is illegal here, so I can't pay tax even if I want. If your portfolio increases in real life, you must submit your tax. Otherwise, they would ask where you got the funds. So if crypto is legal there and you need to use your funds in real business, then you would ask about the source of funds. So ultimately, you will face tax issues. So contact your tax lawyers and share the details with them. They will find a solution for you. 

its the government, we all pay taxes. tax laws were being updated recently in US. the government is asking 44%. and irc 25% for the unrealized gains. holding BTC in your wallet means you will be asked to provide 25% of the gain. i'm not sure if this is the correct data but surely if it is then this is going to drive people mad.

every time you purchase something, i think in the receipt you can already see that you paid for the tax as well.

OP Don't be worried about it. Taxation is up to you. If you live in a country where the Government has implemented taxes (Capital gain) on Bitcoin transactions, obviously you should be going to pay for it, but if you don't so you don't need to be worried about it.
 
Taxes (Capital Gain) are based on certain principles that are different for each country, that is, it depends on the Governments of these countries which regulations they implement. Which are given below point.

• Crypto Trading
• Crypto Mining
• P2P like selling cryptocurrency for fiat currency i.e., EUR, USD, etc.
• NFT buying/selling with cryptocurrency 
• Using crypto for purchasing services or goods 

 
This is a common rule that is generally practised in the country for capital gain. The rest of the taxation depends on which country which cretaria it rules. If you want to know more, you can visit this site (https://cleartax.in/s/crypto-tax-rates-in-various-countries) and get more information. How much tax and criteria are there in which country?

Hold on a second, is this supposed to be a question or some tutoring phase on its own? If you could believe what an AI bot told you, then why should you bother asking further questions?

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It's mandatory in most countries that you pay taxes for everything earnings; but unless you trade your coins, you're not eligible for any sort of taxation.
I'm not seeing any future purpose for liberation against the governments. That's just sad!

So you asked ChatGPT, and you felt the need to share that "knowledge" with the rest of the community? What is the real purpose of such a topic? Crypto taxes are a complex issue, and repeating generic info from a language model isn't helpful. If you want a genuine discussion on a topic, don't just copy random stuff from chat bots, but offer your original ideas or questions.

That will happen if the government imposes such a law applied to Bitcoin and other cryptocurrencies. The best thing to do is ask authorities where taxation is assigned as they are more knowledgeable about it. But in my country, no taxes have yet been imposed on all holders, maybe just for now as the adoption isn't that huge enough to gain attention from them but there can be changes in the future.

You better approach the office where it belongs just clear your doubts and be able to answer your queries because it will depend on our country's leaders. We know that taxes are very important to them and we can't escape from it, if not today, it can be someday.

If you are earning any income then governments want their cut, but how much if any you are subject to pay will depend entirely on the source of your income and the tax laws on your country, so consult a tax attorney if you are really worried about the taxes you may need to pay during the bull run if you are planning to sell some of your coins at the top of the market, but even if you were not eager to sell, there are some countries in which you have to report your bitcoin holdings anyway, so inform yourself about what it is required out of you by the law.

This is a massive and important distinction IMHO.

Some of us just plan on holding for a long, long time.

I think you do in fact, I think that you should pay your taxes no matter where you get it because there's no other way around it and in my opinion, if you attempt to evade your taxes, you're definitely going to get the ire of your government and we know how much they don't like it when the blood that keeps them alive which is the taxes is being cut off from them or that they're lacking in it, they're going to put all of their resources just to make you pay for it more than you owe, that's how vile they do it when you do tax evasion, that's why corrupt politicians are always placed on these positions because they don't want their cronies to get caught and the money that you get from this is so huge that it's a dream come true to work in tax bureau or organization in your country, it's always going to be a corrupt organization.

Some people might be off put with the fact that you do need to put up with paying taxes but there's not much alternative, they're cracking down on crypto exchanges that trades with privacy coins like Monero and they're snaking their way into bitcoin which is inherently the one that would fight these tax thing but look at it now, a little investigation and they can easily track you down especially if you're not actively evading them which means you're making lots of mistakes.

A large percentage of taxes are charged. Luckily I come from a country outside America. I am only subject to income tax at a rate of 0.1% x transaction value if I am a crypto seller acting as a physical trader. 0.2% x transaction value for non-physical traders.
A fee of 0.1% x transaction value is also charged for crypto asset miners. This refers to government regulations through the Ministry of Finance^{[1 (https://www.instagram.com/p/CkPWkgGhw1T/?utm_source=ig_embed&ig_rid=9e3726ff-efb9-48b2-a0e7-6e85becdda51&ig_mid=0B791343-BD7B-4602-901B-2FC981BBD036&img_index=5)]}.
Starting in 2022, receipts of Rp. 539.7 billion in our fiat currency (IDR) has been collected from crypto taxes^{[2 (https://www.cnbcindonesia.com/market/20240315134150-17-522282/sejak-2022-pajak-kripto-baru-terkumpul-rp5397-miliar)]}.

That's how Al Capone got taken down...what route will OGNasty take?

Will he claim he didn't need to pay taxes because he wasn't a retailer of the coins (lol)?
Will he claim he didn't need to pay because his home improvements were ponzi improvements?
What we he say about his forced donations on the tax evasion scam he is still promoting?

Will he claim he paid taxes on the 6,000 bitcoin he made on his ponzi, but claims he did not?   That will be be an interesting one to follow.  The SEC has blockchain proof he got the coins - will the IRS subpoena that?