bitdumper
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Activity: 266
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One world One currency, Bitcoin.
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September 30, 2016, 05:06:19 PM |
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no i mean a tax is a sum of amount which is taken because someone offered us their servic but bitcoin is free and anonymous network but if i say something then there is a special type of system which is used to generate new coin so we can pay on there which are called miner fees
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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mastica
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October 03, 2016, 09:14:59 PM |
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Till the moment bitcoin has no tax, the only cost they take is the fee to make the transaction moove forward, some countries are willing to tax bitcoin, since they dont know how to stop it.
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Hugroll
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October 03, 2016, 09:23:51 PM |
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the government cant really monitor your bitcoin income, unless you use a third party wallet service. for example everything you do on coinbase is monitored and handed over to the government if they request it.
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richardsNY
Legendary
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Activity: 1232
Merit: 1091
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October 03, 2016, 09:32:55 PM |
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the government cant really monitor your bitcoin income, unless you use a third party wallet service. for example everything you do on coinbase is monitored and handed over to the government if they request it.
The government depends on whether or not you declare your coin holdings. If you don't declare anything, then there is no way for them to know you hold any coins. It's all about your honesty. I am sure that the far majority of the people simply don't declare their coins, which I can fully understand. I don't do it either. |
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boyptc
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October 04, 2016, 01:32:54 AM |
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Till the moment bitcoin has no tax, the only cost they take is the fee to make the transaction moove forward, some countries are willing to tax bitcoin, since they dont know how to stop it.
I am treating the miners fee per transaction is the tax of bitcoin economy. But if we are going to talk about the government tax, then bitcoin is not covered by it. I don't know if in Brazil they are putting some tax every time they are going to convert it to fiat because as we know there are hundreds of stores there that accepts bitcoin. |
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requester
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October 04, 2016, 01:47:35 AM |
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Bitcoin is completely decentralized so where can you find tax. Who can control bitcoin? No one. No-one can control bitcoin network is fully automated and even Satoshi also can't alter the system. And bitcoin is digital money inline paper currency there is no taxes because no one knows how much bitcoin you are holding. But while transaction bitcoin network will cut a transaction fee for processing and verifying the payment.
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justspare
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October 04, 2016, 07:02:22 AM |
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Well if you are earning money through signature campaigns and faucets, then you don't pay any tax. I am not sure if there is any tax when you are buying Bitcoin.
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Sandroxa
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October 04, 2016, 07:22:57 AM |
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Bitcoin does not have tax and that is also a reason why the people that make use of it make use of it. Bitcoin is not controlled by the government.
If that was the case then they would put tax on it for sure.
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anaderwan
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Activity: 43
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October 04, 2016, 03:41:44 PM |
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There's no taxes in BTC, this is an open currency and no one charges you money, the tx fee is something to the one mining blocks to include the tx in the nearest possible block as an incentive.. You might need to pay taxes though according to your local rules "and these are paid to your local government not the bitcoin network".
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ashiqdey
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October 04, 2016, 03:55:05 PM |
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Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Right, for transaction in bitcoin we have to pay a small transaction fees. So this fees goes to miners who verify the transaction and processes everything that is required for bitcoin transaction. If you pay more transaction fees then your payment will be done much faster. Because everybody need money and money rules here also. |
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praprata
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October 18, 2016, 03:06:53 PM |
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Bitcoin does not have any tax and that is what i like about it because if it would be run by the government then it would have tax without a doubt because they feel like they need to make money of it as well.
I hope that it is not going to to be run by something else in the future because it might ruin things.
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randy8777
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Activity: 896
Merit: 1000
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October 18, 2016, 03:11:11 PM |
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Well if you are earning money through signature campaigns and faucets, then you don't pay any tax. I am not sure if there is any tax when you are buying Bitcoin.
holding and earning bitcoin isn't any different from holding and earning fiat. it's money that you get after all. in that aspect you need to declare everything to your tax agency officially. of course, not many people will do this (which i can't blame them for). |
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requester
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October 18, 2016, 03:27:44 PM |
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what do you mean by decentralized?
if you know the meaning of the word decentralized then you wouldn't ask such question.
well bitcoin have no taxes as there is no organization or institute or person to take the charge but the transaction fees which is cut while payment is send to miners.
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MaritiJames3
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October 19, 2016, 03:22:26 PM |
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Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Bitcoin doe not have nay tax which I think is a good thing because if it would have tax the government would then take almost all of our profit away. So it is a good thing that Bitcoin does not have any kind of tax. |
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croutonhexagon
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October 19, 2016, 03:39:32 PM |
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No bitcoin doesn't have any tax because there is no organization to accept or take the bitcoin so it's fully decentralized but well you might be thinking v of transaction fees . That fees goes to miners.
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amacar2
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CryptoTalk.Org - Get Paid for every Post!
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October 19, 2016, 06:24:56 PM |
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Nobody knows who transfer bitcoin to whom as it is anonymous so government can't force anyone to pay tax for bitcoin related transactions. So simply saying no bitcoin transactions aren't subjected to tax or can be taxed.
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youhgt2
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October 19, 2016, 06:48:49 PM |
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yes and i think that is the solid reason that why there is no tax on bitcoin and i will like to add that bitcoin is not yet consider as legal currency therefore not a single country has impose tax on bitcoin.
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socks435
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Activity: 2016
Merit: 1030
Privacy is always important
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October 19, 2016, 06:54:53 PM |
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Nobody knows who transfer bitcoin to whom as it is anonymous so government can't force anyone to pay tax for bitcoin related transactions. So simply saying no bitcoin transactions aren't subjected to tax or can be taxed.
For now bitcoin still not government involve and i think its impossible that bitcoin will be involve in government unless if we force as to use bitcoin to accept it locally goverment will seen it if it will popular in our country. you know governments are corrupt.. |
Solving blocks can't be solved without my rigs.
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ekoice
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October 19, 2016, 07:01:54 PM |
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Bitcoin is not even legalised in many countries still now. Italy has decided to impose tax on Bitcoin earnings.In other countries, there is no tax for bitcoins.The amount charged while converting Bitcoin to fiat and fiat to bitcoin is the transaction fees and not tax
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clickerz
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October 20, 2016, 02:20:25 AM |
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bitcoin has little TAX in each delivery. I think the cost is used bitcoin is the smallest compared with other financial media.
I think there is NO TAX at this moment,unless it is controlled or regulated by government. What we pay in sending coins is charges. Charges which you set in your self but not less than 20,000 sats. The higher the charges you set, the bigger possibility of higher priority. |
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