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Author Topic: Bitcoin mining is taxable. Why the bitcoin miners don't pay taxes?  (Read 972 times)
catch.me.if.you.can
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August 28, 2016, 10:42:32 AM
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Bitcoin mining is taxable. Why the bitcoin miners don't pay taxes?
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August 28, 2016, 03:06:50 PM
 #2

Bitcoin mining is taxable. Why the bitcoin miners don't pay taxes?

Because the IRS has not come after them yet.

EDIT: Paid taxes on my Bitcoin mining back when. Was an accounting nightmare - Had to keep track of daily value of Bitcoin every time your mining proceeds were paid out to your wallet. Had to pay taxes quarterly. Threw money at my accountant with a copy of all my wallet transactions and he took care of the rest.
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August 29, 2016, 05:13:35 PM
 #3

Because taxation is theft, taxes are used to fund illegal settlements and wars in over 100 countries. Get informed about your government.

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August 29, 2016, 05:46:51 PM
 #4

Because taxation is theft, taxes are used to fund illegal settlements and wars in over 100 countries. Get informed about your government.

Taxation is theft? And who is going to pay for roads, public transportation, sanitation, legal systems, public safety, education, health care systems, military, scientific research, culture and the arts, public works, distribution, data collection and dissemination, public insurance, basic income etc?
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August 29, 2016, 05:54:31 PM
 #5

Because taxation is theft, taxes are used to fund illegal settlements and wars in over 100 countries. Get informed about your government.

Couldn't agree more. Tax money is seldom put in to the right purpose. Either it is used to fund forced regime changes, or it is used to fill the pockets of corrupt officials and bureaucrats. Also, I find it odd that the super-rich pay only two or three percent of their annual earnings as tax, while someone like me has to pay around 25% of my earnings.

                               
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August 29, 2016, 06:31:30 PM
 #6

Because taxation is theft, taxes are used to fund illegal settlements and wars in over 100 countries. Get informed about your government.

Taxation is theft? And who is going to pay for roads, public transportation, sanitation, legal systems, public safety, education, health care systems, military, scientific research, culture and the arts, public works, distribution, data collection and dissemination, public insurance, basic income etc?

The private companies are going to pay for the roads. Also, this is a very basic, common, first glance "argument" that statists always put forward. It doesn't matter what the taxes go to, if they were acquired by violent means (ie armed robberies), it was theft. Also, majority of your taxes don't go towards health care or education or public transit, but towards forging the military empire.

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August 29, 2016, 06:44:59 PM
 #7

Because taxation is theft, taxes are used to fund illegal settlements and wars in over 100 countries. Get informed about your government.


This.
bryant.coleman
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August 29, 2016, 06:48:39 PM
 #8

Also, majority of your taxes don't go towards health care or education or public transit, but towards forging the military empire.

Most of the tax revenue is misused. For example, here is the American budget spending for the year 2015:



As you can see, out of the total of $3.8 trillion, almost 15% is spent on waging wars.

                               
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August 29, 2016, 07:52:50 PM
 #9

How in the hell is the I.R.S. going to know if you're mining unless you stand up and say    Ummm Hello here take my money please i'm an idiot!
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August 29, 2016, 09:24:56 PM
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How in the hell is the I.R.S. going to know if you're mining unless you stand up and say    Ummm Hello here take my money please i'm an idiot!

Dont worry, they can find your IP.
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August 30, 2016, 06:14:47 AM
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How in the hell is the I.R.S. going to know if you're mining unless you stand up and say    Ummm Hello here take my money please i'm an idiot!

Dont worry, they can find your IP.

It's called a VPN.

Yeah, they can partner with VPN providers and get them to hand over your data, that's where TOR with a TAILS Live disk comes in. They usually don't try to tax you for your mining revenue unless you are a corporation like Butterfly Labs though.

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August 30, 2016, 09:10:04 AM
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Poor you Americans. I'd never get caught if I was a miner, because I doub't my government even know what is Bitcoin Tongue...

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awesome31312
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August 30, 2016, 10:06:51 AM
 #13

Poor you Americans. I'd never get caught if I was a miner, because I doub't my government even know what is Bitcoin Tongue...

Which government is this? I doubt they don't know, most of them are all aware.

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August 31, 2016, 02:58:35 PM
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Poor you Americans. I'd never get caught if I was a miner, because I doub't my government even know what is Bitcoin Tongue...

Which government is this? I doubt they don't know, most of them are all aware.

Saying it would leak where I live, but as an information, that's a poor country somewhere in Asia.

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August 31, 2016, 05:32:43 PM
 #15

Poor you Americans. I'd never get caught if I was a miner, because I doub't my government even know what is Bitcoin Tongue...

Which government is this? I doubt they don't know, most of them are all aware.

Saying it would leak where I live, but as an information, that's a poor country somewhere in Asia.

Thanks, that really narrows it down  Roll Eyes

Also, keep in mind that if it is a really poor country, you will have difficulty using Bitcoin because it relies on the network, and Bitcoin doesn't fare well with bad connection speed (The blockchain size is currently over 80 Gigs). Also, depending on how bad the country is, you will not have any legal rights to prevent law enforcement from confiscating your devices, including the ones with your Bitcoin in them.

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September 01, 2016, 05:58:49 AM
 #16

Poor you Americans. I'd never get caught if I was a miner, because I doub't my government even know what is Bitcoin Tongue...

Which government is this? I doubt they don't know, most of them are all aware.

Saying it would leak where I live, but as an information, that's a poor country somewhere in Asia.

Thanks, that really narrows it down  Roll Eyes

Also, keep in mind that if it is a really poor country, you will have difficulty using Bitcoin because it relies on the network, and Bitcoin doesn't fare well with bad connection speed (The blockchain size is currently over 80 Gigs). Also, depending on how bad the country is, you will not have any legal rights to prevent law enforcement from confiscating your devices, including the ones with your Bitcoin in them.

I'll help you, it's either India, Indonesia, Pakistan or Malaysia. So even if it's quite poor, there's still an Internet infrastructure and some laws to prevent abuses, even if that still exists.

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