Are you in support of paying your taxes in Bitcoin?

[goku21]

I think yes I favor to have a bitcoin tax in all countries to better identify the bitcoin especially in the bank for no questions yet any source of income when you come out with a pretty big money or you will deposit money in your bank account

[HabBear]

But do you think paying your taxes in Bitcoin will be a good thing for Bitcoin? Or is it another way the government is trying to take our Bitcoin?

Better question for you and everyone else, if you're a citizen/resident of Georgia (in your example - are we talking about the Country or the US?) would you want your government to be receiving tax payments in Bitcoin?

After all, this is the money used to fund your school system, hospitals, pensions, police, fire, and all other government services. It sounds awfully risky to rely on something with such volatile price to provide for needs that are so important to the community.

[greenclub09]

i wont agree with the idea that bitcoin should be taxed by government, i wont accept a blockchain system be exposed to government, and entire anonymous informations have to reveal to government. Moreover i wont exchange my informations just for the stable price of the market but be taxed all the time instead.

[Jorosss]

Recently, Georgia is trying to pass a bill allowing payment of taxes in Bitcoin.

Bill GA-SB464 ?requires the state revenue commissioner to accept cryptocurrencies for payment of taxes and license fees.?
This allows for people in Georgia to pay their taxes and license fees in cryptocurrencies.

For more info on Georgia's stance, see https://stopthefud.wordpress.com/2018/02/24/georgia-bitcoin-taxes/

But do you think paying your taxes in Bitcoin will be a good thing for Bitcoin? Or is it another way the government is trying to take our Bitcoin?

If that is for the better of bitcoin community, then i don't see any reason why not to have tax implemented for those who are earning bitcoins. But i have doubt here in my county's government, for sure big tax will be collected in crypto currency. They will just put it in their own pocket instead of government projects.

[Kakmakr]

The financial industry are mostly paper driven at the moment. You have to bring proof of invoices and payments and transfers and deposits and some tax authorities only deal in documentary proof that are certified by some centralized authority.

Bitcoin is mostly digital, so these tax authorities will most probably use some centralized authority for the documentary requirements. <Regulated Payment processors will be used for the fiat processing and documentary proof>

Digital documents can be altered and most documents needs your physical signature. 

[endlings]

Recently, Georgia is trying to pass a bill allowing payment of taxes in Bitcoin.

Bill GA-SB464 ?requires the state revenue commissioner to accept cryptocurrencies for payment of taxes and license fees.?
This allows for people in Georgia to pay their taxes and license fees in cryptocurrencies.

For more info on Georgia's stance, see https://stopthefud.wordpress.com/2018/02/24/georgia-bitcoin-taxes/

But do you think paying your taxes in Bitcoin will be a good thing for Bitcoin? Or is it another way the government is trying to take our Bitcoin?

This is a good thing in any respect. The cryptocurrency is taxed on behalf of the local government to recognize Bitcoin. Although not a currency, at least it also recognizes its legitimacy.

[StonedWolf]

Yes i would! Bitcoin is money. Why would i prefer to use the real currency instead of it. After all, the fact that it is untraceable don't let the goverment trace it back to know how much i got.I really hope that the whole would start it using it too as a sort of payment. It can fix many problems and it can help the wolrd evolve faster.

[stopthefud-blog]

Yes i would! Bitcoin is money. Why would i prefer to use the real currency instead of it. After all, the fact that it is untraceable don't let the goverment trace it back to know how much i got.I really hope that the whole would start it using it too as a sort of payment. It can fix many problems and it can help the wolrd evolve faster.

but is this another way the government is trying to take all our bitcoin?

[squatter]

After all, this is the money used to fund your school system, hospitals, pensions, police, fire, and all other government services. It sounds awfully risky to rely on something with such volatile price to provide for needs that are so important to the community.

Accepting payment doesn't necessitate hodling. Maybe they could hook up with a licensed payment processor like Coinbase.

Eventually, BTC might be held in government reserves just like other hedging assets -- gold, etc. It's rational to be skeptical now, but don't ignore the trends. Gold also rallied over 600% in a decade (early 2000s). It's volatile but is still considered a value hedge.

but is this another way the government is trying to take all our bitcoin?

Yes. It's also a privacy hole. Payments provably linked to a taxpayer ID can have implications for de-anonymizing your wallets.

[coinbitrade]

I agree that there are taxes for transactions. Or, otherwise, simply there would not be any transactions at all. Bitcoin is both anonymous and decentralized. I pay no taxes to any state for its use.