Bitcoin Forum

Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb

It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?

It's good for government and It's also logical since a lot of people of last few years have made mining their job. However If it would happen in my country I wouldn't like being taxed and would most probably stopped mining.

Things like this aren't new. In our country Bitcoin has been taxed by regulating local traders. I think registering is not that bad enough because that is a good step towards legitimacy. Also if that country offers a very cheap electricity, why would they moved out right?

Sounds like a good idea in theory but your not gonna uproot your whole life just to avoid some tax are you? I mean it be worth it for a small group of people (not advocating anybody avoid tax obv) but still it seems like a lot

of hoops to jump through to avoid the taxman.

Until Governments start calling bitcoin currency, it cannot be taxed.
IF BTC could be taxed, you could simply not report it, because it is anonymous enough to just NOT report.  lol

You could mine it, and not report it.  Easy.  Give me a break.

Your Bitcoin is taxed when you convert Fiat to Bitcoin or Bitcoin to fiat. You aswell pay indirect taxes through Centralized exchanges and other related services.


So no need for governments to demand for extra taxation unless they want people to be pissed and avoid taxes entirely, which is possible with Bitcoin.

This right here is mostly an attemp of the governments to adapt with the increasing and unstoppable demand for bitcoins. Thinking it wouldn't be easy to stop bitcoins, they resulted into using this demand for bitcoins to their advantage. Hence, they tax peope for mining bitcoins. Although i don't see anything bad yet, i think this is the first step of the government to take advantage of the people and tax the hell out of us. So having said that, i would probably not reveal myself being a bitcoin user. Damn taxes makes me feel chanied in the outdated system of this world

Well if the miners are being taxed but the energy price is low, or they've cut a deal with the government to be able to get power for a really low cost. The tax could be something which is small and huge mining operations MAY still stay around if it's profitable enough for them to do this. Though if it's not, and it will hurt their business NOTHING is stopping people from just moving their miners, buying a new place, and setting up shop in a different area which favors them better.

But this is the big gray area with Bitcoin, as governments could in essence kill your entire operation VERY FAST.

I know it is not going to be a popular thing to say here, but I think miners should be taxed just for the insane amount of energy consumption and resulting polution.  It seems we need a more eco-friendly solution than ASIC mining.

It's great that cryptocurrency is getting this much exposure as this will pave the way to faster recognition and adoption albeit the proposed regulations. The downside i'm getting here is that transaction rates will increase to cope with this taxation once implemented. So in the end, the end users are the ones paying for this tax.

There would be a lot of factors to consider before moving their mining elsewhere just to avoid the taxation. The cost of moving and price of electricity will be the top ones. You CAN just hide and not register but that could be considered a felony (tax evation) which can be punishable by imprisonment and fines if caught.

Bitcoin is already taxed. Just try to exchange some good amount of your bitcoins and withdraw all this funds to your debit card. There is a high chance of getting a letter from your tax department. Governments can only try to  increase the area of their controll to whe wallets (not tax only withdraws).

It's not a total taxation. It means that only when you're converting to fiat that you're required to pay. Bitcoin being taxed would mean that blockchain funds would be tracked after coming out of exchanges to people's wallets and if they got gains due to the price going up they'd have to pay taxes regardless of whether they are converting or not. We are still far from such outcome.

It's very good for government.The taxation of a country's economy will certainly require tax.In particular, the governmental activities of the democratic countries are governed by taxes.So it is a very good sign that Bitcoin is paying tax.

Well, Bitcoin cannot be taxed by a central agency or government because Bitcoin transactions can be fully anonymous (at least if the user is able to keep his privacy). So Bitcoin is impossible to tax for governments.

it should be like that, because there is a surplus value in a trade, if there is no tax in bitcoin then the money will become bubble and "doom" , the global crisis will happen.

This is basically a good news. It shows that governments are slowly but surely accepting cryptocoins. Regulations should lead to wider adoption.

I think this law after its entry into force will not work. However, like all laws in Russia.

Income in the crypto currency, how they would not be earned, should be taxed. This is a common practice of all states. Therefore, there is nothing surprising. It is necessary to get used to this, because the Crypto-currency also brings good profits to people and to ensure that this activity is protected by laws and court decisions, taxes must be paid.

Sure, but that will only work for a short time. Within the coming decade, I expect that nearly all governments will have regulations on cryptocurrency mining and exchange. The question will be, how liberal is one country's policies vs. another?

I'm sure some countries will outright ban cryptocurrency payments, and I've read that the governments of both Algeria and Indonesia are considering doing just that. It'll be interesting to follow what their citizens do if they follow through with it. I imagine some countries will become a haven for mining -- low taxes, power subsidies, etc. Time will tell which ones.

On reason of why bitcoin is so attractive to all of that is that we don't need to pay taxes from this kind of profit. YET. And I think it is pretty possible that those people who earn a lot with the help of bitcoin will start to earn it through other countries who do not enrolled bitcoin's taxation.

There will be taxation wherever there are governments, there is no escape from it.

To all country that accepted bitcoin. and For those who earn money it is okay to have a tax especially those who are mining, if we see all of us that earning and investing bitcoin have taxed in all transaction that called fee. but the government taxed is different
when it is legalized in a country it will be lawful and can be have taxed on each transaction income.

To me the question is, how can you tax bitcoin?
Its impossible for the government to know that I have bitcoins, unless I tell them
Also its impossible for them to know that I buy or sell, unless I tell them

And why should I thell them?  :-\

I mean, Russia needs all the taxes it can get right now, really. The state of their country isn't the best, but it's slowly getting better as time progresses. Having a minor tax on cryptos would be beneficial, especially considering that there have been a ton of GPUs being bought up within their country and they did have a shortage at one point if I remember correctly.

I'm not a fan of taxes or regulations of any kind, but sometimes they can be valuable to countries. I personally think this is one of those instances where a country can benefit, especially if it is cryptos as a whole and not just one specific coin taking the heat, like Bitcoin previously.

Also most of the miners will likely not move. You don't realize some of the situations in Russia.

I mean what about other alternative forms of energy like solar or wind. I mean if energy was free clean and renewable this wouldn't even be a problem ya know

I think we should be glad to have a country that recognizes the existence of bitcoins and if they have levied bitcoin, then there are certainly better policies to support it and if they are Public access to bitcoin will be supported by large states and will, at the same time, increase the value of bitcoin and it will become a major payment method.

Although Bitcoin in some countries may be taxable. This doesn't mean you cannot avoid it. You just need to find better ways of avoiding taxing.

Regardless, some countries need this as bitcoin is enough of a threat to damage a countries economy. Despite its size, bitcoin can make people rich and this can create fears in even large countries and governments economy systems.

Each day minning is getting old fashioned, these type of regulations will also fasten the reach to the end, it is still profitable though

Personally I have no problem reporting my taxes, it's fair because Bitcoin is an value producing asset and the government does tax everyone else. I don't want to be like those fat cats that have offshore banks and greedily withhold their tax so it will slow growth in their own country.

Yes, of course, moving somewhere else where the environment can be a lot better will always be an option for the affected miners. But then again, it all depends on many factors. Moving to another country can entail a lot of costs and sacrifices and future regulations in that new country can also affect the operation.

Now, having said that, I think having a regulation is better than experience an enforced ban from the government (just like what China did to exchanges and ICO). A good business can always play with the rules set by the government as long as those are not set to kill the industry but to make it stronger and fairer to all participants.

There is a strong possibility of a stronger cryptocurrency movement in Russia next year if things would go smoothly as planned and even if the government is actually also planning to have its own version of a cryptocurrency. Russia can be a good crypto market and once the market is open the full potential of this country can be fully revealed.

Isn't taxation better than complete ban on bitcoin mining and trading? Actually government will always try to suck tax from their citizen in one way or another and they also like to collect tax from all bitcoin related activity including mining because they can't stop people from using bitcoin  ;D , if miners have to also cover taxes on what they earns than this can  increase the price of bitcoin because miners can't just sell their bitcoin for loss.

you cannot tax ever the thing you cant see the file or undocumennted ! that why we were anonymous witth have bitcoin !

Bitcoin taxation is simply inevitable. If your country starts to acknowledge it, they will want to make revenue off of it. I am not against this, as it's a small price to pay for Bitcoin kind of getting "legitimacy" by being "legalized" by the government.

But uh, why would you tax mining? These people already paid taxes on their equipment, their electricity, and they'll pay taxes to spend or exchange their coins. Taxing mining just seems straight up greedy. How would they even make sure that miners register? This is just a bad idea in my opinion and I hope they backtrack on this.

It should not be taxed since the government does not own bitcoin. But they always find a way to regulate the bitcoin. I think some countries are planning to regulate it but they lack rights to tax it. They will consider this illegal or put tax on it making bitcoin users leave no choice to choose to tax it. This could not happen if deep web does not interfere in bitcoin but it already happen so we must accept the bitcoin's fate.

How do they tax it while we hold it and use it as an anonymizer? No one stupid wants to be taxed if they can hide it!

Yes its good, many countries can adopt this method to regulate tax on bitcoin. good method for countries to regulate bitcoin in there countries .  no thought people will move to other places es were there is no tax applicable on bitcoin   

One of the major advantage of bitcoin is tax free transactions.If the government implement tax over bitcoin it's good to leave from it.We are trading bitcoins for making money more than the other investments .Other wise, we can hide all our transactions from the government to escape from the payment of tax ,but how long we can hide from them........?. So if my country is going to implement tax over bitcoins i will prefer to leave from it.

Yes, this is the most desirable thing for governments today. Bitcoin tax will bring great profits to the government. The government will be profitable and instead bitcoin workers and bitcoin users will be affected. I hope that if this happens, the government will have better policies to support bitcoin.

If the government make a tax in the bitcoin. Government will be happy again because they earned . but what the others? You you said thw miners if the government taxed it and the miners got small amount only in mining , what amount are to them.? Also if the bitcoin have a taxed im sure that many of us will shock and probably its an reason to quit in the bitcoin. Unless if the government what have an intent of supporting in the bitcoin and in the miners i hope that the government help us.

There's need for government to invest into bitcoin in the area of the mining. Instead of government taxing the bitcoin users, they should just remove little charges just as every bank also gave small charges on transactions. There is transaction fees on bitcoin, so it's not bad if the government make little charges on them.

When we pay for something with bitcoin today we have to pay such a high fees that I would prefer to pay taxes instead. When you pay takes you support government, which is generally a good thing!

I don't think this is such a good idea. Yes, when bitcoin is being taxed, it means the government is now acknowledging it as a legal currency. However, bitcoin's value is big, which means the tax will also be big and many bitcoin users will suffer.

Bitcoin IS NOT being taxed.   lol lol lol

In my opinion, bitcoin being taxed can either be good or bad. Since bitcoin is decentralized there is no way for the government to monopolize on this and with that being said it may be that more and more illegal activities will be made or transacted with bitcoin. The government tends to tax it in terms of regulating bitcoin since they cannot fully control it. In some point they get commission out of that, on the other hand it gets positive feedback from the people and with this more and more people may invest and it is good for the bitcoin community.

Yes. Bitcoin itself is not being taxed because it is decentralized currency. The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government.

It is not taxed because the governments around the world lacks the platform to identify each user and the transactions they effect. These limitations makes it impossible for them to identify and tax individuals unless certain laws are passed and a corresponding new technology emerges.

Right.It's really hard for the government to implement taxes on bitcoin because we are decentralized from the start and will remain anonymous till the end.And i think our own government here is not aware of the existence of bitcoin so how come they'll be implementing tax on it.

Bitcoin is not the one that is being taxed it the income that you are getting from bitcoin. So if you only have the coin and never converted it to fiat then it is not taxable.

bitcoin needs to be taxed as soon as you get fiat. its up to you country and the regulations about it and which view the goverment has to it.

if its under the categorie " stocks " you may need to pay taxes.


best way is the loophole to get Gold as many countrys dont tax gold if you buy and sell so you can easily get cash at the end without paying taxes.

In my country, the government are investigating the bank accounts that sent money to bitcoin exhange platforms. They're probably planning to tax bitcoin. As far as I see, the rest of the world is still tax-free for bitcoin earnings.

Taxing bitcoin is somewhat good but someway bad also,almost all users come into bitcoin because they know that it is a tax free currency letting them get all their money without being deduct by the government,if this would happen imagine what will be the reaction of those users

if in my country has not been in taxes because my government is not so know about the contents of bitcoin. if my government knows about bitcoin then it will also be in taxes the same as in your country ...

hopefully in my country bitcoin not in taxes ...

More of a PR move to attract interest/investment regionally within Switzerland (to be competitive with Zug) but found it interesting that you can pay a portion of your taxes using Bitcoin in Chiasso: https://www.swissinfo.ch/eng/swiss-fintech_chiasso-accepts-tax-payments-in-bitcoin/43503464

It sounds good for government but not for miners. Morely likely miners will move to avoid governments because paying taxes defeat the purpose of cryptocurrency.

Every countries depands on tax and revenue.Which countries are uses in bitcoin ofcourse there are encluded taxed.

I think this is good news and legal since it is still an income and if your country has an income tax you still need to declare it. It also legitimizing bitcoin and crypto currency. I know miners will probably try to avoid taxation but it is good for the local economy.

These indirect taxes on the exchangers go into the hands of the owners of these exchangers, and the state is interested in collecting direct taxes on profits from operations with the crypto currency. There is nothing new in this. Any activity that generates profit is usually taxed by the state. So far, only the only country - Ukraine has registered a bill on exemption from payment of taxes for activities related to the crypto currency.

Tax is a form of social responsibility that benefits the community. It encourages individual to contribute finances when it is for public interest. I guess it's fine when Bitcoin will be taxed if the money contributed by the active forum users here or miners is for good cause.

This should alone motivate forward thinking governments to regulate cryptocurrency. Think of the taxes it can generate that can be used for social services. Not to mention the trust and confidence boost it will give to prospective investors.

Bitcoin is a tax free currency and people are used to it because they know that if government are in to bitcoin they will add a taxes and it will cost you more . You're saying that government will reduce the little charge of sending bitcoins, i think it's impossible.

That's what russian bitcoin owner are actually afraid of due to Putin's plans of crypto legalization.

One day it may happen on bigger scale, some users say Russia is against Bitcoin or ICO's, I think it's not, but what they really want is create laws so BTC or any other cryptocurrency is used in a good way without money laundering or criminal activity and most important is there is Tax on it so it's profitable for government to allow cryptocurrency in the first place.

I would prefer taxes and totally legal BTC over the current situation.

It is ok if government will imposed tax to bitcoin earnings besides this is one way bitcoin can possibly help the economy of a certain country but before getting into tax implications government needs to settle first the legality issue of bitcoin if it would be possuble for them to declare bitcoin as a legal tender then other things like tax can be discuss next but as far as I know government don't want the idea of having a centralized currency which do not need any one to control it.

It's already being taxed in the Netherlands, you're supposed to see bitcoins as actual savings, not that dutch people actually show that they have bitcoins but..

If bitcoin gets taxed it will only be bad for us bitcoin users..
Taxing bitcoin would make mining less profitable which would lead to higher transaction fees in order to compensate for the increased mining cost, and guess who's going to pay for those fees?

I think Bitcoin is going to be prohibited in Russia as Putin wants to create a Russian cryptocurrency called 'CryptoRuble'

 If you buy bitcoin or any other virtual currency and sell it for more than you paid, you have to pay taxes.

Well if the miners are being taxed but the energy price is low, or they have decided the deal with the government in order to get the power with a very low cost. Taxes can be something small and a huge mining operation and still live around if it is profitable enough for them to do this. Even if it does not, and it will hurt their business and stop people from just moving their miners, buying new places, and setting up shops in other areas that are more profitable to them. But this is a big gray area with Bitcoin, because the government can basically kill your entire operation very quickly.

Having cryptocurrency transactions taxed is a good source for a refill of governmental treasury but who knows how this money is going to be allocated further.

This should not be an issue to take seriously because it is only right and just to imposed tax for whatever income we get even thru digital currencies and I think this may probably help for bitcoin so that government will finally declare the legality and acceptance of bitcoin as a legal tender. In my country so far there's no tax when converting bitcoin but when you purchase good there is automatic VAT

No Bitcoin isn't taxes free. You are supposed to pay taxes related to the profits you made and mining as well. No matter if the governments are in Bitcoin or not. This is a misconception from people thinking there is no need to pay any tax with Bitcoin. In some years they will maybe regret it for not having reported this income (like it can happen with any income that you don't report)

It alright by me because the government surely make bitcoin legitimate.

move to a tax haven when you have enough profits to make it worthwhile

Its not at all a sound strategy by government. We have to accept the fact that we will have to pay taxes even if we shift to bitcoin. Without tax no one is going to take responsibility of providing public welfare services. So unless you we are planning to live in complete overshadowing without ever revealing our real identities there are low chances that we can evade tax. If every country adopts such policy miners would surely have to find some no man's land.

I, like other Bitcoin miner, would not like to pay taxes. But it would very well help the country.

It would be tax if the government regulates it. It seems like unfair to other taxpayers that they pay tax but more effort than those who earn bitcoin. But if we apply the rules, we don't really pay tax unless we convert the bitcoin in fiat. Also, in the first place the government can not ban it since they do not own it.

it's very possible that the bitcoin is taxed when it's all in government control, and I'm sure if bitcoin is controlled by the government there will be a prolonged controversy

Taxing bitcoins would be the biggest confidence booster cryptocurrency would get from governments. This would make convincing other people to invest a lot easier. Right now, it's difficult to encourage someone to invest in something that isn't legal or regulated.

I'm really against taxing bitcoins because it defeats the main feature of bitcoins which is its decentralization. If it gets taxed, the goverment takes over bitcoins one by one. Imagine that you have to pay a percentage of the bitcoins for transaction fees and then pay for tax. That's too much if you ask me.

Attempting to tax BTC and other cryptocurrencies in the "general western world" in the same top down fashion would be an act of folly, besides perhaps for fiat purchased or derived coin, unless you have a complete iron curtain over your nations communications, ect - which is what Putin et al are certainly going for by criminalizing VPN use, ect, but they too won't be completely effective. Smart people will have coins socked away (with differing levels of utility depending on what you can do with them), as long as the internet still has provisions for encrypted communication, and it will as long as the is one.

Bitcoin itself is not being taxed because it is decentralized currency. The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government

Actually i read somewhere that when one is either exchanging their cash into bitcoins or the other way round, the government in some countries actually tax the bitcoins and after that when they use it buy goods and services, they are again taxed again.

In the State of New York, you need to have a license to trade and store more than a certain number of bitcoins, and the rest of the country is not ready for the legislative base! If it is taxed, it means that it is legal) and its price then will not exactly be 10,000 $ ;D

Yeah bitcoin is treated as property according to the IRS and it is taxes as such.  Any profits from bitcoin or any altcoins are considered gains and those gains are taxed.  I would report any gains from bitcoins on your tax form because the IRS has contracted a company to develop software to monitor and track any bitcoin/altcoin transactions.

if bitcoin is accepted by the state. It could be taxed. However. It will be very difficult. There will be no way to declare our properties as easycooling. and no way to control

are not. impossible. It is very unfair, when you trade bitcoin, you have to bear a fairly expensive fee. and time consuming. If you are taxed, no one will use bitcoin.

Taxation bitkoyna and kriptovalyuty as a whole should be considered necessary and usual process, since the state has the right to possess tax any income from any activity of its citizens. This is one of the stages of legalization of the crypto currency, since simultaneously with taxation the state will have to recognize the legality of the circulation of the crypto currency in the country and determine the scope of such circulation.

BTC being taxed. Sounds little weird but good. Taxation of bitcoin is good from government perspective because government too get another means of earning and may apply for the sake of development of country. The foremost benefit in legalization of BTC is that it could stop the criminal activities that are engaged through BTC and them those countries could remove the ban from cryptocurrency and then bitcoin could only be used for human sake and people can safely mint bitcoins

That's assuming that governments are pure and tax money is spent where it is supposed to be spent. In the real world, our tax dollars are squandered by corrupt officials.

Also, it is highly unlikely that criminals will stop using Bitcoin/cryptocurrencies.

You said Bitcoin can not be taxed ... But my country want to do that. Welcome to Russia ;D. The government do not understand what BTC is, but want to get some money.

That is only if all are honest of what they have now. Bacause some of us getting worried of paying their taxed, that is why some of them deny about their belongings to lessen their tax. Although bitcoin is not totally considered as  an assets because of its real identity but some other countries obligue their people to pay their taxes. And I believe it won't be fair because isn't taxed by other countries unless all countries are impossing this, it might credit.

The government does it because bitcoin has become mainstream, and does not seem no matter with that. But I think it would be a problem for miners, they have to pay taxes for the mining results. If I was a miner then I had two choices only:
- stop mining or
- keep mining in secret, haha :D

For now I don't no here in my country what he said about this bitcoin if he know about this if ever  bitcoin being taxes I don't know but for now we till good

As some countries are starting to consider to take control here, it is possible. Once government regulates it, transactions happening here would be taxed. It would be great for the government as it will be a new source of income to the country’s budget but will be bad for bitcoin users. Purchases will be taxed and the transaction fees may be higher than usual.

I guess many people especially with be frustrated if the government put some taxes on mining especially now that many has quit their jobs and make mining their everyday living in which they prefer their earning on mining rather than their job. Although it would benefit more in the improvements our country but it will depend upon the opposition ruling or prevailing in your country because if their abusive and corrupt then it just another one of those are money gonna be in the possession of those greedy crocodiles.

Tax season can be confusing enough with complicated rules about what types of income are taxable and which are not, and there are bound to be questions about how Bitcoin relates to taxes. However, users will have to look into the tax requirements for whichever country they are paying taxes in and sort out how their home countries classify cryptocurrencies like bitcoin.

Bitcoin cannot be taxed.
Especially if you buy Bitcoin account to Bitcoin account. 
If it was never fiat, never in a normal bank, they cannot tax it.
Many still say Bitcoin is not money, even tho you can spend it to buy things.

Love Bitcoin.

It's not about whether Bitcoin is taxed currently or not, it's about if governments will be interested in taxing it or not.

Currently, Bitcoin is not strong enough as a payment method in order for governments to take measures against it. As long as BTC and all other cryptos stay in your wallets/exchanges, governments don't give a dime. And, the moment you turn it into fiat and send it to your bank accounts, you're already forced to declare those taxes.

To put another counter-example, governments ARE eyeing e-wallets such as PayPal, Payoneer... because you can actually buy many things on the Internet and therefore evade those funds.

I think that's a very good idea to do data collection and application of taxes to miners and bitcoin users I think it will generate substantial profits on the state although later taxes are very small but if multiplied by many bitcoin transactions the results are not bad anymore, it could used for development in the country.

Bitcoin is a virtual currency that uses cryptographic encryption system to facilitate secure transfers and storage. Unlike a fiat currency, bitcoin is not printed by a central back, nor is it backed by any. Bitcoins are generated by what is called mining—a process wherein high-powered computers, on a distributed network, use an open source mathematical formula to produce bitcoins. It takes real high-tech hardware and hours or even days to mine bitcoins. One can either mine bitcoins or buy them from someone by paying cash, using a credit card, or even a PayPal account. Bitcoins can be used like a fiat world currency to buy goods and services.

In our country Bitcoin has been not taxed by government. We are happy if it will be taxed by government because that is a good step towards financial freedom.

Thats would be great but if we think of attributes of btc, it is decentralized thats why it is using by people because it is less hassle. And also faster than bank to bank transaction. I think if the government would taxed the btc it would be a major crisis for crypto world especially those countries that starting to adopt its function.

It will not happen, the mining has been profitable and they will remain if they start to be squeezed - they just change the location and nothing happens, everything is simple. there are many countries - where there are no clamps for mining - everything is open and accessible, so the miners are the engine of progress in the Crypto-currency

"Bitcoin is a tax free currency and people are used to it because they know that if government are in to bitcoin they will add a taxes and it will cost you more ." , i agree.

You only tax profit and anyone providing a real service using BTC has $45 per transaction fees
to deduct from any tax returns and I hate to point out the profit in price appreciation of the
coin is being eroded by the day.

Tell me how often does a gambling addict walk into a casino and walk out with a profit
or are all the people in this forum stock brokers and software developers.

Lets take a inside look at what this new generation of "Day Traders" are really doing for a second
https://yobit.net/en/dice/

Yes playing dice even when they know the bankers skims 5% of the top and I am sure the average
roll of the dice will always come in at 50:50 but look closer at what is happening because bots are
playing and bet $0.0001 on the roll of the dice, few small bets from the punters for fun but can you
guess what will happen on the site if you turn up and bet $2000 on the dice or should I leave it
to other software developers to explain that one.

Spot the ball will offer greater returns and this is what the semi-pro BTC traders are doing
so when the market turns down as it will then taking money from them is going to be like
taking candy from a baby, you have been warned.

It is assumed that one of the main advantages of obtaining and paying with BTC is anonymity and skip the payment of taxes. It would not make much sense, although if for a country

Not really though the point of bitcoin wasn’t being able to evade taxes or anything, the point was not being tracked on EVERY single thing we do so it’s pretty alright

Agreed, why don’t people get that “The goods and services offers in the industry and interprises where we spend bitcoin is the one being taxed by the government” for some reason people thing that taxes = centralized control over bitcoin

Don’t all countries do that though? Earning are always taxed and on top of that you get taxed for buying goods, that’s not a new concept

I think the government taxes were not just in one site. In my country, the government take actions about taxes the day or time a bitcoin user withdraws.

There's a taxed or not, applied or not applied a taxes on bitcoin / crypto currencies in our respective country.. it's good if we trying to pay a taxes as we can, we must showing be a good citizen for the progress of our country and not detriment the government of our respective country.
We must not be selfish, this life must be complementary to one another. The progress of our country is very important, and with any taxes.. the small or poor people can be helped of course.
So well obviously.. for me it doesn't matter at all if indeed there will be applying of taxes in my country on bitcoin.

I think that bitcoin should be taxed if bitcoin currency is recognized in a certain country such that the government may also gain substantial profit and helped the people that is in need. In effect, this will be bad for the bitcoin users because this will lessen the income they had made with bitcoin.

Taxing individual transactions is autistic af and the governments probably wont even bother with that. They’ll tax your profits though with BTC

They don’t need to tax your BTC though. They don’t have a way to track crypto, they can however tax your fiat income when you convert

That mainly happens only when you official spend them on some site like say Steam where they declare the BTC and not p2p

Definitely right. Anyway, it will always be our choice not to revail ourselves of being a bitcoiners so that the government cannot collect taxes from us. But sad to say that when we converted our bitcouns into fiat then that will be the time that we oblidge to pay taxes. Hopefully there will come a time when there are lots of options to use bitcoins as a payment.

well this is expected, for this is the only way the government can benefit from the massive amount of money circulating in the crypto world, the government knowing that bitcoins price and daily transactions are expected to grow significantly in the coming years.

I know that things like this is inevtiable but please don't take this as a disadvantage guys. Taxing is part of regulating crypto and regulation means it's much safer for new investors' perception and to avoid bitcoin getting used on money laundering and drug deals.

I don't think the government should tax bitcoin yet. Earnings through bitcoin is still not guaranteed. There are times that we can lose. I think they need to find other ways for tax.

This is for sure that no tax will not legalize bitcoin in many countries because the amount of bitcoin transactions is actually quite large.

It may be that only taxation can Bitcoin be recognized by the government for its legitimacy. One of the big reasons why the government does not accept bitcoin is that it can not control people's assets and can not tax it. It would not do any good for them, if government taxes Tax, Bitcoin will soon be legal.

Tax will just kill cryptocurrency, there are a lot of miners today because it was free mining but then we are still paying for the exchanger fees so tax will be really bad if it will be implemented because it will decrease the profit even more by the miners.

If you buy bitcoin or any other currency and you have to pay taxes or fees for tranjection.

I think that is a good regulation, and will improve the economy of the country.

so, I agree if the tax is used by every country for bitcoin users. unless you want to get out of taxes, then better go.

I hope all countries can manage bitcoin well. so they can take advantage of bitcoin and bitcoin can help economic progress.