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Title: Transaction fees are a tax on BTC Post by: thirdprize on February 16, 2018, 03:54:10 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.
Title: Re: Transaction fees are a tax on BTC Post by: Kasliono on February 16, 2018, 04:04:43 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I agree with you, so when we are couldn't want to pay the fees just because they go up. I think that it is the best time to see anothet coin with a low cost of txn fees, such as Doge Coin.Title: Re: Transaction fees are a tax on BTC Post by: charlzyeby on February 16, 2018, 04:28:54 PM Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes.
Title: Re: Transaction fees are a tax on BTC Post by: Rozita on February 16, 2018, 04:31:17 PM Yes, No one likes to pay it. But there is a big difference. Miners deserve that fee. They confirm transactions and we should pay them. But governments want taxes for nothing. They use their power.
Title: Re: Transaction fees are a tax on BTC Post by: lotto-fan on February 16, 2018, 04:32:44 PM But there is a big difference. Miners deserve that fee. But governments wants taxes for nothing. Yes I agree, tax and fee are two complete different things. Fee you pay when you transact, tax you pay only when you have a gain. Title: Re: Transaction fees are a tax on BTC Post by: aoluain on February 16, 2018, 04:37:04 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. i wouldnt agree, fees are not like taxes, and fees are not a tax on transactions. We need computing power to complete our transactions, and those transactions are grouped into a BLOCK. The miners provide a service to process those blocks and without them its not going to happen. Now, this thread could open a debate on "mining" and the seemingly centralised form it has taken and the actual costs per transaction. But in the end, there has to be miners and they aint going to process our transactions for free. Title: Re: Transaction fees are a tax on BTC Post by: supermine on February 16, 2018, 04:41:57 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Nothing in this world is available for free. :)We may call the transaction fee as service charge because the miners are the one who is performing the transactions for us.But actually the fee are too cheap now since there is no traffic in the blockchain network. If you don't want the transaction fee to go up switch to the segwit address since the transaction will takes place much faster in the legacy.If everyine adopts to the segwit then the fee will never climb up like what happened at the end of 2017. Title: Re: Transaction fees are a tax on BTC Post by: Hui8 on February 16, 2018, 04:44:07 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I am not sure how truthful this one is. But I dont like the idea of thinking that those fees are really taxes for the BTC. I mean just take the real life example when, we transact through our banks we dont pay tax on each transaction but it summed up at the financial year end when we provide the details for every outgoing and incoming transaction processed through our banks. The fees is more or less used for the miners efforts, for doing the job and its more or less salary of the miner. Tax is taken for those bodies who ideally will control the miners as well as peers. So its just fees, a way of rewarding the miner. :) Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on February 16, 2018, 05:36:20 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I am not sure how truthful this one is. But I dont like the idea of thinking that those fees are really taxes for the BTC. I mean just take the real life example when, we transact through our banks we dont pay tax on each transaction but it summed up at the financial year end when we provide the details for every outgoing and incoming transaction processed through our banks. The fees is more or less used for the miners efforts, for doing the job and its more or less salary of the miner. Tax is taken for those bodies who ideally will control the miners as well as peers. So its just fees, a way of rewarding the miner. :) Title: Re: Transaction fees are a tax on BTC Post by: tot-o on February 16, 2018, 05:43:39 PM That's how a community works, or organization, even a single application needed to have a financial support to maintain their service and pay staff for making report, electricity bill and many more, there is no service like totally and completely free and their service is awesome.
Expect service fee for everything... Title: Re: Transaction fees are a tax on BTC Post by: Aura on February 16, 2018, 05:51:54 PM You can't compare miner fees to tax, it's a whole different thing. Tax is going to government to provide infrastructure and much more for it's citizens, miners don't do one of these things with the money they get from transactions. Also assuming that everyone complains and don't want to pay tax is subjective, same thing applies for miner fees. I am personally not against paying fees to miners, otherwise the whole system wouldn't work. No miners means no proof-of-work, means no blockchain.
Title: Re: Transaction fees are a tax on BTC Post by: voron84-05 on February 16, 2018, 06:33:46 PM I think so, the commission is not like tax, commission for transactions BTC is more like a commission when calculating a debit card, taxes of the state is another opera! Title: Re: Transaction fees are a tax on BTC Post by: jseverson on February 16, 2018, 06:53:25 PM Cash is free. My bank is free. Heck, my bank even pays me interest. If it was a tax we could complain to some one. Over Christmas the "tax" went up and the service went down. You wouldn't stand for that anywhere else. I'm pretty sure some of the tax money you pay go into printing of more cash. Banks are only free because they make money off you, and they do charge for certain transactions. I don't have beef if you see miner fees as taxes, but unlike actual taxes, the miners don't set the fees; you can pay however much you want (granted, very low fees are going to get your transaction stuck in limbo). That's a very significant, fundamental difference. The fees spiked around Christmas time because users started entering into bidding wars for transaction confirmations with each other, driving the fees up. It's more of the network's fault rather than the miners'. I'd also like to note that if you actually paid the increased fee, you'd get the usual service, so it technically didn't go down. Title: Re: Transaction fees are a tax on BTC Post by: tokexchain on February 16, 2018, 06:56:12 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Miners and network confirmation fees, what would happen if there were no miners or fee.. there would be be Bitcoin netowrk.. The blocks would literally stop, and you think the mempool is bad now? :o Title: Re: Transaction fees are a tax on BTC Post by: Mind Control on February 16, 2018, 07:24:41 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Correlating Bitcoin's transaction fee to tax is flawed. Paying tax is fixed based from your revenues and some other basis or factors. You can do tax evasion (but brace yourself about the consequence. While transaction fees are not fixed, you could increase or decrease the fee if you wanted to. You can even not pay tx fee but better wait days or weeks before being confirmed (if it will be :D) Therefore tx fee is a just a fee. You used their service (mining), pay some fee. You want your tx to be confirmed quickly, pay more fee. Willing to wait, pay less fee. etc. etc. ::) Title: Re: Transaction fees are a tax on BTC Post by: faatipoke on February 16, 2018, 07:46:56 PM Yes transaction fees are bad and nobody likes it. There are some altcoins that does not have transaction fees, even some of them does not use blockchain. Maybe you can try these such as Neo, Nano, IOTA, etc. Bitcoin will always stay as king, gold of the cryptocurrencies, however we may need another coin for using in transactions.
Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on February 16, 2018, 07:51:15 PM Cash is free. My bank is free. Heck, my bank even pays me interest. If it was a tax we could complain to some one. Over Christmas the "tax" went up and the service went down. You wouldn't stand for that anywhere else. I'm pretty sure some of the tax money you pay go into printing of more cash. Banks are only free because they make money off you, and they do charge for certain transactions. I don't have beef if you see miner fees as taxes, but unlike actual taxes, the miners don't set the fees; you can pay however much you want (granted, very low fees are going to get your transaction stuck in limbo). That's a very significant, fundamental difference. The fees spiked around Christmas time because users started entering into bidding wars for transaction confirmations with each other, driving the fees up. It's more of the network's fault rather than the miners'. I'd also like to note that if you actually paid the increased fee, you'd get the usual service, so it technically didn't go down. Miners do set the rates as they prefer to process the ones with high fees rather than the ones with low fees. As with taxes, the less you pay, the worse the service you get. Title: Re: Transaction fees are a tax on BTC Post by: clrpod on February 16, 2018, 08:27:39 PM The similarity between taxes and transaction fee is that they are both necessary evils. Things don't just happen for nothing. If you want to transfer your bitcoin you have to pay a transaction fee for that to happen, no one will do it out of the kindness of their own heart. Similarly if you want your garbage collected you have to pay someone to do it, this money has to come from somewhere and that's why you have taxes.
Title: Re: Transaction fees are a tax on BTC Post by: Taras on February 16, 2018, 08:28:53 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Miners and network confirmation fees, what would happen if there were no miners or fee.. there would be be Bitcoin netowrk.. The blocks would literally stop, and you think the mempool is bad now? :o I can't tell if you're saying that the mempool being too big or too small will drive miners out; if you're saying the fees being too small are an issue, that's not likely - why would miners stop mining because of low fees? They still get no less than 12.5 BTC ($125,000) per block. If fees were too high, then miners still wouldn't want to stop, because now they're making even more money than before. Yes transaction fees are bad and nobody likes it. There are some altcoins that does not have transaction fees, even some of them does not use blockchain. Maybe you can try these such as Neo, Nano, IOTA, etc. Bitcoin will always stay as king, gold of the cryptocurrencies, however we may need another coin for using in transactions. If you have to go to a different coin to make transactions, then bitcoin will not always stay as king. But even when the mempool is oversaturated, you won't have to go to a different coin once the lightning network is widespread. Title: Re: Transaction fees are a tax on BTC Post by: Desperaboss on February 16, 2018, 09:15:21 PM It is a fee but not a tax. It would be a tax if governmental institution provide mining power. Then the fees could be seen as taxes on monetary transactions.
Title: Re: Transaction fees are a tax on BTC Post by: bug.lady on February 16, 2018, 09:20:09 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I don't agree with that comparison. Tx fee is like a service fee, for instance like your telecom bill for using your cell or like paying for VOD. Tax on the other hand is due to the government for being a citizen and the overall protection you are receiving from them (that you can send your children to school and when scammed you can go to the police and then to court, etc.). And you can be very sure that the governments will very soon ask for the due tax on top of the transaction fee, if they don't do it alreadyTitle: Re: Transaction fees are a tax on BTC Post by: Mike Mayor on February 16, 2018, 09:36:25 PM Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do.
Title: Re: Transaction fees are a tax on BTC Post by: 9jaflick on February 16, 2018, 09:57:17 PM in as much as you are not remitting your transaction fee to the Government ( cross border authority) you cant call it taxation fee, the transaction you are paying it simply miners reward, reward for maintaining the bitcoin network.
Title: Re: Transaction fees are a tax on BTC Post by: bug.lady on February 16, 2018, 10:05:56 PM in as much as you are not remitting your transaction fee to the Government ( cross border authority) you cant call it taxation fee, the transaction you are paying it simply miners reward, reward for maintaining the bitcoin network. fully agree, and don't worry, one already has to or you will have to very soon pay one's capital gain tax to the government and then one will notice that when one compares the tax to the transaction fees (which may be as high as 20 USD - in December, for instance and one may have thought they were high then), the transaction fees were very very very cheap.Title: Re: Transaction fees are a tax on BTC Post by: jseverson on February 17, 2018, 01:10:51 PM Miners do set the rates as they prefer to process the ones with high fees rather than the ones with low fees. As with taxes, the less you pay, the worse the service you get. That means the market sets the rates, not the miners. It's basic business sense, too; why would you accept work that pays less when another available pays significantly more? If no one paid any transaction fees, they would confirm transactions for free. That tells us that they have very little say on the fees. That being said, miners could spam the network with transactions to drive the price up, but that also costs money, and is a different discussion entirely. You only get worse service if you pay a substantially smaller fee than everyone else. Title: Re: Transaction fees are a tax on BTC Post by: rapwindsoul on February 17, 2018, 01:21:01 PM In my opinion, i disagree that we would say transaction fees are like taxes to crypto. Miners deserves that fees for they provide the vital role in what we so call "Blockchain". As we all know blockchain is a ledger technology that prevents double spending of money.
Title: Re: Transaction fees are a tax on BTC Post by: Lock00Live on February 17, 2018, 01:47:14 PM in as much as you are not remitting your transaction fee to the Government ( cross border authority) you cant call it taxation fee, the transaction you are paying it simply miners reward, reward for maintaining the bitcoin network. fully agree, and don't worry, one already has to or you will have to very soon pay one's capital gain tax to the government and then one will notice that when one compares the tax to the transaction fees (which may be as high as 20 USD - in December, for instance and one may have thought they were high then), the transaction fees were very very very cheap.Title: Re: Transaction fees are a tax on BTC Post by: hinpoc.hin on February 17, 2018, 04:32:03 PM I think it is a quite not right here. Tx fee is not a tax.
Tx fee is the cost for the algorithm verification of bitcoin transaction. The miners paid to process your transactions, it is different from tax. Government didn't do anything and we pay tax to them, but the miners doing work, we pay for them. Title: Re: Transaction fees are a tax on BTC Post by: adzino on February 17, 2018, 04:48:07 PM Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do. Who said they are doing it for free? They are already get rewarded for each block they mine and the fee the users pay are just some extras for them. Fees would be needed later when all coins get mined though but not right now.Title: Re: Transaction fees are a tax on BTC Post by: bit-freedom on February 17, 2018, 04:52:44 PM I don’t see transaction fees as a tax. It is service fees for miners to help confirm our transaction. Tax doesn’t work in this way. Transaction fees only occur when you send a transaction but tax can occur anytime even when you hold your BTC (think property tax).
Title: Re: Transaction fees are a tax on BTC Post by: jonas5222000 on February 17, 2018, 05:01:45 PM yes the fee was high but you earn higher so what is wrong with that dont be too selfish.
Title: Re: Transaction fees are a tax on BTC Post by: Yakamoto on February 17, 2018, 05:10:31 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Well, what is supposed to be done to encourage mining in the future then? If there's nothing major being rewarded by blocks for mining pools (like what will happen in about 20 years) how are you going to keep miners going and make sure the network doesn't stop moving? There needs to be an additional incentive and the fees are that. It's essentially a future-proof for the network.Would people on here really fork to get a fee sometime in the future once the block rewards start becoming too small? I can't think of anyone who would want to spend more money willingly, so you need to introduce it early on. Title: Re: Transaction fees are a tax on BTC Post by: Caesar-Giulius on February 17, 2018, 05:30:15 PM Frankly speaking, I don’t think everyone don’t want to pay transaction fees. It is reasonable to pay for fees when miners invest their equipments and resources to mine and get the blockchain moving.
Title: Re: Transaction fees are a tax on BTC Post by: ohlawdy on February 17, 2018, 05:40:29 PM Frankly speaking, I don’t think everyone don’t want to pay transaction fees. It is reasonable to pay for fees when miners invest their equipments and resources to mine and get the blockchain moving. I agree this is why it isn't a tax but more of a service.Altough the price is to high imo , that isn't the fault of the miners. Title: Re: Transaction fees are a tax on BTC Post by: Virman01 on February 17, 2018, 06:02:53 PM really, many complain about the fee to be paid greater than the nominal sent. but if it's okay I hope the current fee can be further reduced. I think the current fee is very much too big. especially for me who make small transactions every day.
Title: Re: Transaction fees are a tax on BTC Post by: FiiNALiZE on February 20, 2018, 07:25:10 AM It is a fee but not a tax. It would be a tax if governmental institution provide mining power. Then the fees could be seen as taxes on monetary transactions. That is why it's pretty unique to see people holding Bitcoins because they don't have to pay any taxes on it.Title: Re: Transaction fees are a tax on BTC Post by: gribble on February 20, 2018, 07:32:41 AM Payment transaction of fees on bitcoin is expensive and it is not good for a little amount of transaction in bitcoin, but doesn't mean it is like taxes on the government, it is something different. Huge transaction fees on bitcoin is big problem on bitcoin, that is why the community are looking for the solutions with the hard fork of bitcoin's network and right now the lightning network on bitcoin. We hope this problem can be fixed soon.
Title: Re: Transaction fees are a tax on BTC Post by: TopT3ns on February 20, 2018, 07:38:06 AM yes the fee was high but you earn higher so what is wrong with that dont be too selfish. true fact but sometime people ignore about this, they only think the fee is really high in value but actually it is same. bitcoin price which make it looks high. and actually people have more money than beforeTitle: Re: Transaction fees are a tax on BTC Post by: tornikejr on February 20, 2018, 07:47:27 AM This is how Blockchain works. Without transaction fees there will be no miners and no Blockchain.
Paying fees to miners is acceptable for me, they deserve it. I am also taking into account that high price of coin means high transaction fees. Title: Re: Transaction fees are a tax on BTC Post by: Pan Troglodytes on February 20, 2018, 07:58:00 AM When you go and buy yourself an ice cream do you consider paying the ice cream guy same as paying tax? There may be some tax in that money, but the rest of it goes to the ice cream guy's pocket. How come you don't see the same with miners? Do you expect them to work for free?
Title: Re: Transaction fees are a tax on BTC Post by: chidrawarster on February 20, 2018, 08:10:03 AM Yes, the fees are comparatively high pertaining btc transaction.Since, then many people also hesitate to get some transactions done but still they hesitate because of the growing fees day by day.I agree the miners confirm the transactions and its their fees , for a common man like me the fees is damn high, fees has to be negotiated well and then finalized to get more transactions done in the pipleline. Once fees are reduced, people will get the comfort zone and enable them do more transactions. Title: Re: Transaction fees are a tax on BTC Post by: dhrazzen on February 20, 2018, 08:30:15 AM Transaction fees make a blockchain to work. The required fee in bitcoin is not a tax in the government but a payment to the bitcoin miners. Without fees you cannot transac in bitcoin so, fees and tax is different.
Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on February 21, 2018, 09:21:42 AM OP here. But what you all have described IS a tax. Tax is taking money from one thing to pay for another thing. We pay a % of our income and it goers to fund schools and hospitals. As Btc is anonymous, it doesn't go through any governments but it goes via the blockchain itself. The fees pay for the miners. No different to VAT.
Title: Re: Transaction fees are a tax on BTC Post by: enjotan on February 21, 2018, 09:26:04 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Yes, I agree but no problem with his fee if the transaction process is fast. this is the obstacle at this time. so I prefer to interact with altcoin to make it easier Title: Re: Transaction fees are a tax on BTC Post by: shezu007 on February 21, 2018, 09:29:29 AM Transaction fee on bitcoin transaction is negligible it is too low yea in previous time there were issue came on transaction fee and speed due to network overloaded problems but that issue was solved and now everything is working OK. Fee on transaction of bitcoin as compare to bitcoin price is too low and transaction is also very fast.
Title: Re: Transaction fees are a tax on BTC Post by: Carlsen on February 21, 2018, 09:32:33 AM Well, taxes are raised by governmental organizations. I do not consider the miners to be that.
I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me. I even can say how much I want to give them, and depending on that amount they execute my order sooner or later. When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked. Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on February 21, 2018, 09:35:36 AM Well, taxes are raised by governmental organizations. I do not consider the miners to be that. I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me. I even can say how much I want to give them, and depending on that amount they execute my order sooner or later. When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked. at least taxes are determined fairly. Fees are not. Title: Re: Transaction fees are a tax on BTC Post by: 00DKM@ on February 21, 2018, 09:54:49 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I think it is impossible to charge a tax on BTC. Because BTC exists around the world, but the trading floors are of a nation. and the trader on the floor is unknown origin. Therefore, the collection of BTCs based on transaction costs is inaccurate. I think each government must take measures about the country's bitcoin trading activities.Title: Re: Transaction fees are a tax on BTC Post by: TorbiK on February 21, 2018, 09:58:15 AM Well, everything in the world has to be paid. For fast, secure and anonymous payments using Bitcoin too. Thanks to the transaction fees, the network exists.
Title: Re: Transaction fees are a tax on BTC Post by: bobylevamo on February 21, 2018, 10:04:38 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I do not have much problem with transaction fees as they go to miners. But the issue of slow transactions is a headache for me. Title: Re: Transaction fees are a tax on BTC Post by: bitfocus on February 21, 2018, 10:43:27 AM TX fees are TX fees, Taxes are Taxes - they re different. And Israel is planning a 42% tax on Bitcoiners https://www.bitcoinmarketinsider.com/bitcoin-is-property-israel-tax-authority/
Title: Re: Transaction fees are a tax on BTC Post by: munareal on February 21, 2018, 11:13:03 AM We can not have it all. So paying the miners that confirm bitcoin transactions is a must. We pay commission on transactions consummated in our conversational banks
Title: Re: Transaction fees are a tax on BTC Post by: zigfridkr on February 21, 2018, 11:28:50 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. If you will not pay transaction fees, what will the miners get. Actually, the transfer fees is much less in comparison to other payment systems. Title: Re: Transaction fees are a tax on BTC Post by: Morning honor on February 21, 2018, 01:30:26 PM For some reason you can say that its a tax but it is less compare to the real tax.
Title: Re: Transaction fees are a tax on BTC Post by: ShotGun_1993 on February 22, 2018, 07:08:36 PM No,I don't think so
Goverments not get anything from BTC Transaction fees not a tax! Title: Re: Transaction fees are a tax on BTC Post by: Patatas on February 22, 2018, 07:13:31 PM No,I don't think so Tax doesn't necessarily have to include governments or democracy.OP implies,the fees are for transactions are just like the service taxes paid on purchase/delivery of goods just like the real world ecosystem.Goverments not get anything from BTC Transaction fees not a tax! Less does he know that without miners,network wouldn't exist.Here 'tax-paid' is to continue using the currency of the internet. Well, everything in the world has to be paid. For fast, secure and anonymous payments using Bitcoin too. In 2018 if you mention 'Bitcoin is anonymous',you're wrong.Title: Re: Transaction fees are a tax on BTC Post by: spacesniper93 on February 22, 2018, 07:17:45 PM Transaction fees in Bitcoin is likely the gas when you're using the car. Did you consider your paid on gas as a fee for your car? I don't think so.
Title: Re: Transaction fees are a tax on BTC Post by: yana0901 on February 25, 2018, 11:10:32 AM Can I send a bit of bitcoin? Of course, the minimal part of bitcoin is Satoshi. It's like a penny from the ruble
Title: Re: Transaction fees are a tax on BTC Post by: szpalata on February 25, 2018, 01:10:37 PM We can not have it all. So paying the miners that confirm bitcoin transactions is a must. We pay commission on transactions consummated in our conversational banks Its that simple but i don't understand why some people keep stretching this matter up because the miners must also be paid somehow and how can that be linked to paying taxes? Commissions are paid everyday on our bank transfers and other fiat remittances all over the world and so its nothing new with bitcoin if you are paying a little in transaction fees. Title: Re: Transaction fees are a tax on BTC Post by: Copulative on February 27, 2018, 06:22:58 AM Truly, the expenses are relatively high relating btc transaction. Since, at that point numerous individuals likewise falter to complete a few exchanges yet at the same time they dither in view of the developing charges day by day.I concur the diggers affirm the exchanges and its their expenses , for a typical man like me the expenses is damn high, charges must be arranged well and after that concluded to accomplish more exchanges in the pipeline. When charges are decreased, individuals will get the safe place and empower them accomplish more exchanges.
Title: Re: Transaction fees are a tax on BTC Post by: irenegaming on February 27, 2018, 06:28:26 AM well i don't think Transaction fees can be considered as tax, the whole taxation idea is to to deduct a portion of ones income as a levy to the central governing institution, transaction free is however a service fee,the miners have to pay for using the platform. two different cases Title: Re: Transaction fees are a tax on BTC Post by: Noelbetty12 on February 27, 2018, 06:36:52 AM Yes, they are like taxes. But I haven't heard anyone talking about taxes imposed by the government. If the government will probably take a part of the bitcoin and altcoin sales then it could start another big impact on the different ICOs and bounties. I don't think it might be a big help aside from getting the right security for each transactions being made.
Title: Re: Transaction fees are a tax on BTC Post by: jeanne513lefe on February 27, 2018, 07:45:22 AM Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes. This is a way of viewing transaction cost of course. However, I agree with you and honestly think it is necessary. You can't expect the miners to pack your deal for you without getting any rewards, it's basically asking people to work for you for free. Thus, I don't get why people hate to pay the transaction fee.Title: Re: Transaction fees are a tax on BTC Post by: damrianto on March 07, 2018, 06:19:37 PM this cost to provide incentives to the miners who want to make transactions, because the larger the size for the transaction then the greater the need of energy, here also can be used as the cost of other administrsiya. so we can not get out of all costs, and also this cost is called with tax for btc.
Title: Re: Transaction fees are a tax on BTC Post by: Crytptohack on March 07, 2018, 06:26:40 PM I agree that you can see the transaction fee as a tax. It was at it's highest level on Dec 22nd when the mempool was at it's peak. The average fee was around $55 USD's and the time it took to execute a transaction was quite long.
BTC now has segwit and the lightning network to support these issues. Fee's have gone way down along with the mempool. I think BTC will become more of a long term hodL asset like owning gold. You essentially have it for the long term and do not transact (unless you need to) or purchase items with it. If you used $3k worth on expedia for a trip when BTC was 10k, a year from now it may be 15k and you would have lost out on the (potential) gains. Title: Re: Transaction fees are a tax on BTC Post by: cschy01 on March 07, 2018, 06:49:37 PM Actually in my personal opinion transaction fee and Tax both is not same.Those are totally difficult from each other.Tax is an amount of money that you have to pay to the government so that it can pay for public service and there are no Tax option in bitcoin marketing system.On the other hand transaction fee is the amount of money which you have to pay for transaction your currency and this rule is available in bitcoin marketing system.Not only for bitcoin but also transaction fee is applicable for all online currency transfer system.
Title: Re: Transaction fees are a tax on BTC Post by: Carmen01 on March 07, 2018, 06:53:25 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. actually even we need to pay tax still it's ok so that's not a problem think the transaction here all over the world with only low fee in crypto not like other that we need a lot of things to do before transaction and the tax is so big,i think also here have volatile price so at first here we need to pay in that kind of situation so it's not a problem and actually the fees here are only 780 satoshi for 0.005 btc so that's lowTitle: Re: Transaction fees are a tax on BTC Post by: Washball on March 07, 2018, 06:57:39 PM Whether miners deserve a fee or not and whether lightning network will diminish transaction fees and waiting times, there's something far worse than all this. We'll soon have worldwide regulations, which means governments will tax cryptocurrency transactions and cryptocurrencies will no longer be decentralized.
Title: Re: Transaction fees are a tax on BTC Post by: belford11 on March 07, 2018, 07:21:37 PM the authorities like to be subordinated to ((and this terrifies me terribly, for which they pay taxes, for what we live badly >:(
Title: Re: Transaction fees are a tax on BTC Post by: andreijoaquin on March 07, 2018, 07:27:24 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. In my perceptions transaction fees are not tax in bitcoin but rather a sort of payment for maintaining the system made by developers, of course those people behind block chain technology needs to receive enough compensation in providing bitcoin users a way to access and transfer their funds faster and reliable.Title: Re: Transaction fees are a tax on BTC Post by: just_Alice on March 07, 2018, 07:43:16 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Right now tx fees aren't that big and, unlike taxes, which are established by the government aren't established by anyone, it depends on average amount of money people are paying during certain period, miners don't create tx fees manually.Title: Re: Transaction fees are a tax on BTC Post by: Aleksandr_ov on March 07, 2018, 08:12:47 PM Yeah, I think Bitcoin will start to lose popularity when the commission for the transfer will be equal to the price of the car)) And taxes are thereby getting more and more! this is not the case .... ((
Title: Re: Transaction fees are a tax on BTC Post by: SiDtHeBeSt on March 07, 2018, 08:49:58 PM Yeah, exactly. Transaction fees are like a tax which is being paid to the miners who carry out our transactions. People never want to pay transaction fees, but they don't understand that without transaction fees a transaction cannot be conducted. Why would people do cryptocurrency mining if they don't get anything from it?
Title: Re: Transaction fees are a tax on BTC Post by: Doge dealer on March 07, 2018, 08:53:50 PM no one should have an issue with miners because they are the lifeblood of this ecosystem , as you said taxes are inevitable even if its at the point of conversion to fiat or vise versa .I think this is another reason why the countries who have instituted taxes make them so high because at the end of the day billions of dollars in crypto are moving around and they are not collecting any taxes from it , whereas had these monies been in fiat money they would be collecting taxes on each transaction, so as a result of this situation they simply target the persons at the point of re-entry into the fiat system .i would differ because in my opinion transaction fees are the salaries for the miners , mining is integral to our system.
Title: Re: Transaction fees are a tax on BTC Post by: fasdorcas on March 08, 2018, 10:16:19 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. No one wishes to pay taxes as the money they have earned in through hard work, but in order for the balance to be maintained and the development to continue one has to pay taxes. Taxes indeed are inevitable. Transactions fees go to the miner, to encourage the mining of a specific crypto and to promote people to mine it and also for the hard work they do in order to confirm transactions, so they deserve it. We also pay taxes on crypto exchanges, just the difference is that money goes to the owner of the exchange and not miner. To own anything and to buy/sell/trade anything in the world, one is compelled to pay the taxes. There is no running away from it. Title: Re: Transaction fees are a tax on BTC Post by: nick_nick on March 08, 2018, 10:24:03 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. i wouldnt agree, fees are not like taxes, and fees are not a tax on transactions. We need computing power to complete our transactions, and those transactions are grouped into a BLOCK. The miners provide a service to process those blocks and without them its not going to happen. Now, this thread could open a debate on "mining" and the seemingly centralised form it has taken and the actual costs per transaction. But in the end, there has to be miners and they aint going to process our transactions for free. We don't expect our transactions to be processed for free and thus shouldn't confuse fees with taxes Title: Re: Transaction fees are a tax on BTC Post by: cemburu on March 08, 2018, 11:37:35 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. But after all, we must all comply with the specified taxes. As big as taxes, surely only what percentage. I think it is not too draining the money we have.Title: Re: Transaction fees are a tax on BTC Post by: xhoondilan on March 08, 2018, 11:46:20 AM I think taxen on transaction fees is fair enough because the miners wont be encourage to mine if there is no extra income on there work and all transaction usually have tax thats why we get used to it, also taxes makes the country grow and also with the business.
Title: Re: Transaction fees are a tax on BTC Post by: richmcrich on March 09, 2018, 11:53:36 AM Actually in my personal opinion transaction fee and Tax both is not same.Those are totally difficult from each other.Tax is an amount of money that you have to pay to the government so that it can pay for public service and there are no Tax option in bitcoin marketing system.On the other hand transaction fee is the amount of money which you have to pay for transaction your currency and this rule is available in bitcoin marketing system.Not only for bitcoin but also transaction fee is applicable for all online currency transfer system. Yes I agree on the fact that taxes and transaction fees both aren’t one and the same thing. Tax is the amount that is paid on one’s income i.e. tax is paid on the gains and transaction fees is inevitable whether one has gain or loss. Tax is a particular percentage that must be paid on the gains one has and transaction fees is amount that must be paid to miners in return for a transaction to get confirmed. Transaction fee is must whether it is in crypto market or fiat market, one must pay it no matter what. Taxes are not needed to be paid if one has no gains. To balance the crypto market, paying of transaction fees to the miners is necessary as it is necessary to pay transaction fees to bank for continuation of its operations and provide its customers facilities. Title: Re: Transaction fees are a tax on BTC Post by: john_nautica on March 09, 2018, 11:57:12 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. the tax should always be applied to the miners, because we know the mining system relies on income from each transaction. so maybe at this time the fee is a natural thing and we can not refuse it.Title: Re: Transaction fees are a tax on BTC Post by: bons on March 09, 2018, 12:07:23 PM Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do ;) :)
Title: Re: Transaction fees are a tax on BTC Post by: jaaeeeyyyy on March 09, 2018, 12:39:20 PM I do think that consumer or users cannot be taxed as long as we are doing right in the exchangers. Government should held a hand on exchangers, not on users. Although service is not free, the transaction fees should includes the tax from the users.
Title: Re: Transaction fees are a tax on BTC Post by: tee-rex on March 09, 2018, 12:49:14 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. The fees are definitely not a tax. Surprisingly, transaction fees are our payment to miners for doing their job, that of confirming transactions. Whether these fees are too high is another question, though. In any case, you may want to consult the dictionary to find out what the term tax actually means. Also, no one forces you to pay the fees because you can send coins with no fee, though your mileage will vary, obviously. Title: Re: Transaction fees are a tax on BTC Post by: Tapyaks72 on March 09, 2018, 12:56:08 PM Payment transaction of fees on bitcoin is expensive and it is not good for a little amount of transaction in bitcoin, but doesn't mean it is like taxes on the government, it is something different. Huge transaction fees on bitcoin is big problem on bitcoin, that is why the community are looking for the solutions with the hard fork of bitcoin's network and right now the lightning network on bitcoin. We hope this problem can be fixed soon. Yeah to run the technology is entail payment because we are using power and infrastructure that is why we should pay a transaction fee which is also reasonable. But thanks to the peoples who try to make thing for the better like using renewable energy to power infrastructure because in that way will lessen our services fees. Title: Re: Transaction fees are a tax on BTC Post by: obinine on March 26, 2018, 11:24:03 AM Truly, the expenses area unit comparatively high relating btc dealings. Since, at that time varied people likewise falter to complete some exchanges nonetheless at a similar time they dither visible of the developing charges day by day.I concur the diggers affirm the exchanges and its their expenses , for a typical man like ME the expenses is damn high, charges should be organized well and then over to accomplish additional exchanges within the pipeline. once charges area unit bated, people can get the safe place and empower them accomplish additional exchanges.
Title: Re: Transaction fees are a tax on BTC Post by: espiapogi1994 on March 26, 2018, 12:26:20 PM I agree. ??? for tax on bitcoin because we can not do it because it's the law, just do not waste it because they have a positive attitude. should be equal in all :( Title: Re: Transaction fees are a tax on BTC Post by: joel123 on March 26, 2018, 01:37:48 PM I guess this is one way to look at it. We really didn't expect to just use it for free so yes, I agree with the fact that fees are a tax on bitcoins and I do not mind this at all.
Title: Re: Transaction fees are a tax on BTC Post by: taiginabo on March 26, 2018, 02:26:04 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. These transaction fees are involved with all payment mediums. May be we can do something to reduce the transaction fees in case of bitcoins. Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on March 26, 2018, 05:47:20 PM Well do you expect a service to be free? Please tell me what service is free in this world. Of course you will spend money paying to get your currency halfway around the world. Also you can't boame miners they don't make the fee the users do ;) :) You can't expect a mailman to eat dirt after their service is done regardless of how far they had traveled. Same goes to miners that confirms the transactions in the blockchain, I had answered this not that long time ago. Whether you want to pay transaction fees or not, the miners will be the one to confirm your transactions and you can't avoid that and you have accept that Title: Re: Transaction fees are a tax on BTC Post by: Ayaancool on March 26, 2018, 05:55:23 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Yes, of course, no one would like to pay fees for anything, if anything gets for free then everyone is really happy. What you think is this fare. I don't think so , for example : if your a stationary store owner. Do you sell your products on the exact same buying price or sell it for the buying price that added with your profit?.Title: Re: Transaction fees are a tax on BTC Post by: palle11 on March 26, 2018, 06:04:49 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I just don't agree that transaction fees are tax on bitcoin. Transaction fee is just what it is which is a charge on the transaction carried out for an investor. For instance, banks do charge for services done for a customer and that is not referred to as tax. Tax is charged by the government and that excludes the charge for service from a company. Title: Re: Transaction fees are a tax on BTC Post by: ICOchamps on March 26, 2018, 06:17:51 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I think the big difference here is that you absolutely have the choice if you pay these "taxes" or not. I don't only mean that you decide whether to send a transaction - you also decide whether you even want to hold bitcoin or something completely different! Of course, you can also leave your state - but that is a lot, lot more complicated than just not using one cryptocurrency. So I see this a bit different, even though you have a bit of a point there Title: Re: Transaction fees are a tax on BTC Post by: allycn on March 26, 2018, 06:20:00 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I would not call it a tax. A tax is literally a charge imposed by the government to pay / fund public expenses / projects. If you don't pay your taxes or you evade them it is punishable by law (at least in most countries). Bitcoin's is an actual transaction fee (like they call it), what you would pay in any bank to do a transfer to an account in another bank, or other payments. If you don't pay the fee the transaction simply doesn't go through, but you won't get punished by the government. I will agree with the fact that we all complain when taxes or fees go up. Title: Re: Transaction fees are a tax on BTC Post by: Argoo on March 26, 2018, 06:23:25 PM Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes. Transaction fees can not be considered a form of tax. The tax is always paid in the state income in connection with the increase of your profit. Transaction fees are just a payment to the miners for the maintenance of the blockchein system, on the basis of which all decentralized crypto currency functions. That is, the fees for conducting transactions are just an internal payment that ensures the functionality of the crypto-currency system and can not be considered a payment of tax to the state in any way.Title: Re: Transaction fees are a tax on BTC Post by: DAOfan on March 26, 2018, 07:19:47 PM Transactions fees are super low again, which is great news for bitcoin. However, I understand where you are coming from. Bitcoin transaction fees were never imagined to be more than a few pennies. The way they have gone into the $30 is unacceptable and hurts the entire community. A few greedy miners essentially destroyed this amazing decentralized project for everyone. I think what has happened was Sathoshi's biggest fear, that a few people would gain control of the entire project.
Title: Re: Transaction fees are a tax on BTC Post by: Rustamm on March 26, 2018, 08:03:47 PM Transactional fees and tax are completely different concepts. Commission fees for conducting transactions are just a payment to miners for servicing the transfer of the crypto currency, because the network blockchein is decentralized and no one is required to service your transaction. At the same time, a tax is always a payment to the state for the use of something or for the received profit and its size depends on the size of this profit.
Title: Re: Transaction fees are a tax on BTC Post by: thirdprize on March 26, 2018, 08:06:12 PM There are huge difference between tax and transaction fees, such as : Wrong. No one actually buys things with BTC so it doesn't matter. Your spam is someone else trying to buy a coffee with BTC. With hight fees TC is a $100 note. Just for the rich. 1. Transaction fees is created to prevent network spam, while tax is created to sustain government and it's project 2. Transaction fees rate depends on it's TPS and network TPS capacity, while tax rate depends on law. 3. Transaction fees is extra reward for miner, while tax is required if you want to see your country grow. If bitcoin or blockchain-based cryptocurrency don't have transaction fees, surely we'll see people spam transaction which leads to bloating blockchain size, higher network/nodes loads and could lead to centralization. No fees, no miners the same way no tax, no hospitals. Title: Re: Transaction fees are a tax on BTC Post by: BossMacko on March 26, 2018, 08:17:17 PM Yes they are, transaction fees are like tax. The tax you are giving to the government depends on the amount ofnyourbsalary, the bigger the higher tax they'll get from you. Transaction fees price of it increase if the network is congested and the higher transaction fee you pay the faster your transaction will be completed. There are differences between both but they serve the same purpose.
Title: Re: Transaction fees are a tax on BTC Post by: poplolnman on March 26, 2018, 08:31:37 PM There are huge difference between tax and transaction fees, such as : Well I think op really aware about all of those list you've made above. The point here are the fee seems a little bit high and it makes people don't want to pay it , just like when you don't want to pay tax. We used to be fine when the transaction went smooth fast and charged a little amount of Bitcoin only as a fee. Tx fee now indeed feel like a tax , we hate it but have to.1. Transaction fees is created to prevent network spam, while tax is created to sustain government and it's project 2. Transaction fees rate depends on it's TPS and network TPS capacity, while tax rate depends on law. 3. Transaction fees is extra reward for miner, while tax is required if you want to see your country grow. If bitcoin or blockchain-based cryptocurrency don't have transaction fees, surely we'll see people spam transaction which leads to bloating blockchain size, higher network/nodes loads and could lead to centralization. Title: Re: Transaction fees are a tax on BTC Post by: spacelab on March 26, 2018, 08:35:54 PM How much the transaction fee be?
Title: Re: Transaction fees are a tax on BTC Post by: onnz423 on March 26, 2018, 08:39:53 PM I wouldn't say they're a tax, as a tax is money collected by the government to pay for public services. I think that the bitcoin fee is exactly that, a fee that is paid to those that provide work (the miners), hence why the fee is directly related to the amount of work. You wouldn't expect a carrier pigeon to carry a message with an empty stomach now would you?
Title: Re: Transaction fees are a tax on BTC Post by: frank2018 on March 26, 2018, 08:48:24 PM Does anybody even know what TAX means? It is a form of mandatory financial obligation imposed by the government so that they can subsidies public expenditures. So by any means, isn't bitcoin associated with the government since it is decentralized? Correct me if I am wrong but transaction fees is very much different from tax. Transaction fees are additional service charges for your transaction while tax is a deduction to be paid to the government. Am I making sense?
Title: Re: Transaction fees are a tax on BTC Post by: BADecker on March 26, 2018, 08:56:31 PM Transaction fees are a bribe to miners.
Miners might withhold all the bitcoins they mine. They don't because they need cash to pay for electricity and ASICs. But some of them COULD withhold bitcoins. If they withheld them, the price would go up until they wanted to sell some. This would cause worse instability in Biotcoin prices than we have ever seen. Transaction fees keep the Bitcoin price much more stable. 8) Title: Re: Transaction fees are a tax on BTC Post by: laravuemaster on March 26, 2018, 08:58:31 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Transaction fee's are just fare because it is not affecting the amount of coins you want to transfer since it was only cheap compare to the amount of coins you are holding. It was very hard to work on the corporate world so i prefer to trade. Title: Re: Transaction fees are a tax on BTC Post by: IrishkaZaiChishka on March 26, 2018, 09:00:39 PM ;D ;D ;D Hello people ! I am new here )
Title: Re: Transaction fees are a tax on BTC Post by: BADecker on March 26, 2018, 09:01:45 PM Transaction fees are a bribe to miners. Miners might withhold all the bitcoins they mine. They don't because they need cash to pay for electricity and ASICs. But some of them COULD withhold bitcoins. If they withheld them, the price would go up until they wanted to sell some. This would cause worse instability in Biotcoin prices than we have ever seen. Transaction fees keep the Bitcoin price much more stable. 8) When the price of Bitcoin was near $20,000, it was a bubble. Bubbles pop. If this bubble had been allowed to pop naturally, the price would have gone much higher before it popped. The danger of a big Bitcoin bubble pop might have been that it would have gone all the way to zero. Nobody knows if this would happen, but if it did, Bitcoin miners would stand to lose a lot. So, miners banned together to charge insanely high fees. How did this help? Bitcoin prices came down and leveled off instead of crashing to zero. Miners gained enough money from the fees to cover their mining expenses when the price came down. The price didn't go to zero where they would lose more than everyone else. Bitcoin remains because of the wisdom of the miners. 8) Title: Re: Transaction fees are a tax on BTC Post by: joebrook on March 26, 2018, 09:08:33 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Actually its not taxes but some kind of service fee that we pay so that the miners can confirm our transactions for us.Title: Re: Transaction fees are a tax on BTC Post by: loraalbert on March 27, 2018, 06:38:24 AM In my opinion, the transaction fee is the same as the tax imposed. However, it is mandatory and rules of the exchange in the market. It will not create the need and importance, but to preserve some links such as online wallets, it is imperative to have to build the route.
Title: Re: Transaction fees are a tax on BTC Post by: Birdiebig on March 27, 2018, 02:53:21 PM I think the transaction fee is a necessity for maintaining stability and extending the security as well as improving the exchange process. Personally, I think the transaction fee will be nothing serious. For example, Bittrex actually charges higher transaction fees than other transaction sites. But I still want to use Bittrex transactions, because stability and security and longstanding reputation have been demonstrated in the crypto community. Of course, each person's point of view is different and there will be no righteous view on this matter.
Title: Re: Transaction fees are a tax on BTC Post by: YzzyGo on March 27, 2018, 03:15:49 PM If you think about it, it may look like tax but it's not. It is payment for services rendered, in this case when they succesfully decrypt transactions and verify them on the chain. Taxes are a for the government to be used for their countries expenses, development and citizens and not for personal gains.
Title: Re: Transaction fees are a tax on BTC Post by: soname12 on March 27, 2018, 03:24:06 PM The amount of Bitcoin that we pay for each transaction is fixed to the extent that it is in the range of 0.0003 - 0.001 per transaction. The fees for each of these transactions are paid to the miner to help you operate your purchases. The price of each sale increases as the value of Bitcoin increases.
Title: Re: Transaction fees are a tax on BTC Post by: Harrow30 on March 27, 2018, 05:31:27 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Nice synonym! My take will be that if the transaction fees are like taxes then maybe the government can use this also as means of taxing the Cryptocurrency earnings. Not the total txn fee but a percentage shared with the miners too. Title: Re: Transaction fees are a tax on BTC Post by: usekevin on March 27, 2018, 05:35:37 PM Ya buddy. No one wanted to pay the taxes to our income. But we are paying. As like that, now we are giving some dollars to miners.If you have mining set means, you will speak like this. The people holding mining setup have to get anything for the investment right.For that we are paying transcation fee.
Title: Re: Transaction fees are a tax on BTC Post by: fanBit101 on March 27, 2018, 05:44:16 PM If it is tax like your point of view. I think it will not matter to the investment community or traders. Miners are not disadvantaged for justified damages such as the loss of transfer fees. No one would want to pay taxes if it was guaranteed and appropriate.
Title: Re: Transaction fees are a tax on BTC Post by: bitbunnny on March 27, 2018, 05:51:18 PM If you put it that way then you can call the fees as a Bitcoin taxation. But it's not exactly the same. When you pay taxes to the state you expect to have different privileges, infrastructure and services that governments have to provide. If the fee is Bitcoin tax and the miners are the government the only thing you get in such case is your transaction confirmed. Is that the good ratio of what you give and what you get?
But lately the fees are realy low so we can't complain. Title: Re: Transaction fees are a tax on BTC Post by: Harrisonimo on March 27, 2018, 05:57:45 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Really inevitable! But a control has come to play; as compared to late last year when the txn fees were way too high for bitcoin. A lot of persons shifted to the ethereum because of its lower fees in comparison. If the miners'/taxation fee gets way too high, people will try finding other options. Title: Re: Transaction fees are a tax on BTC Post by: laurenB7742 on March 27, 2018, 06:30:54 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Miners are the entities upon which the entire building of BTC stands, as they are responsible for the management of BTC blockchain. It's quite a work as miners invest there money and time in this management. Why anyone will do such service for free, its legitimate right of the miner to get paid for services he is rendering. Title: Re: Transaction fees are a tax on BTC Post by: mizunawee on March 28, 2018, 10:39:17 PM Assume it just like a security charge securing your wallets and btcs within a dark world
Title: Re: Transaction fees are a tax on BTC Post by: jhonjhon on March 28, 2018, 11:25:42 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I'm always thinking why people can't stop complaining, in all scenarios happen they'll keep on shouting why and why. Maybe we should fully understand how crypto works, all the transactions fees that they have collected aren't a tax, is just for the people behind the success of its transactions, maybe we could that's is the salary for them. Title: Re: Transaction fees are a tax on BTC Post by: Sexie on March 29, 2018, 08:42:16 AM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. When you are working at any establishment , you pay taxes . It depends on how much your monthly income is. There is also an exemption for those who has lower salaries. In every wealth you have , you have to share your assets in a form of paying taxes to the government , either you have own land or home still I dont understand why we pay taxes , it is just like you are renting your own properly to the government for life time But when it comes to Bitcoin , transactions fee is quite different from taxes. When we pay that transactions fees we just paying services it could help also the company to continue doing their business and Services to the people and also paying their taxes. Title: Re: Transaction fees are a tax on BTC Post by: eurobend6 on April 02, 2018, 09:38:07 PM I didnt even knew that were transaction fees even LOL Thanks God i didnt started posting
Title: Re: Transaction fees are a tax on BTC Post by: brushingbanner on April 03, 2018, 06:38:52 PM Its nice to pay the fees because more the fee paid better would be the services for the individual bitcoiners you get that?
Title: Re: Transaction fees are a tax on BTC Post by: Hobo66 on April 03, 2018, 06:48:18 PM I would agreed yes to this, because these fees or paid for
sending transaction across the bitcoin network, when bitcoin was at $20k the fees was high per transaction, hope this issue dont happen again when bitcoin begin mooning. Title: Re: Transaction fees are a tax on BTC Post by: rybakov on April 03, 2018, 07:01:22 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. All payment mediums have some tax or other. I think bitcoins is actually good in this respect, there are no third parties involved. We do not have to pay any tax also put by government like sales tax. Title: Re: Transaction fees are a tax on BTC Post by: Snaic on April 03, 2018, 07:02:53 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. Charges for transactions of crypto currency can not be regarded as payment of taxes. Taxes are always paid to the state and in this their difference from other payments. Commission fees for conducting transactions are internal payments in the blockchein system for supporting the health of the system and they are paid to miners who ensure the conduct of transactions. That is, we pay a certain fee for the transfer of our digital coins. The state receives nothing from these payments. At the same time, taxes are payments collected by the state, which go to the general needs of society, such as the maintenance of government and administration, the army and the police, the development of nationwide programs, social payments, etc.Title: Re: Transaction fees are a tax on BTC Post by: Momoamzad on April 03, 2018, 07:31:57 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. its true now a days the transaction fees become high. but that not means it is like tax. tax is for any state. but transaction fees is a system by blockchain that help to secured transfersystem. it cant be a tax anymore because its not pay to any state. Title: Re: Transaction fees are a tax on BTC Post by: gtx1060aa on April 03, 2018, 07:33:35 PM You are wrong in the roots, nobody has taxed the receivers of crypto-currency taxes, all they pay is the tax for the use of electricity!
Title: Re: Transaction fees are a tax on BTC Post by: belousov on April 03, 2018, 07:34:51 PM Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to. I think there should be some alternative for this transaction fees especially for smaller transactions. If somehow these transaction charges are eleimnated for small transactions, it will boost the bitcoin prices. However, it will take a lot of fixes to be done. Title: Re: Transaction fees are a tax on BTC Post by: pavel08 on April 03, 2018, 07:43:11 PM the cost of the bitcoin transaction has become more profitable, so soon we will see an increase in the rate ??? Title: Re: Transaction fees are a tax on BTC Post by: Ulticon on April 07, 2018, 01:45:39 PM Transaction money helps developers to keep a track record on the transaction and thus siting the flow of btcs
Title: Re: Transaction fees are a tax on BTC Post by: appleslymphoma on April 07, 2018, 02:17:36 PM Yes its good i admit but you all admit that its really painfull to pay that because then there will be no difference among fiats with them
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