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Author Topic: do i have to pay tax on bitcoins ?  (Read 27711 times)
MartinL
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November 02, 2016, 05:07:42 AM
 #81

This thread has truly been a boon to account farmers:

hurain
no we do not pay tax on bitcoin, actually our government has not yet declare bitcoin as legal currency therefore it is yet tax free, because there id no tax on any illegal object, but if the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax,
i think it depend on your country polity if your country has decler bitcoin legal and imposed tax on bitcoin then surely you have to pay tax on bitcoin, otherwise there is no tax on bitcoin because in most of the area bitcoin is not legal and the country not yet consider bitcoin as legal currency.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
i think it depend on the policy of your country, if your country imposed tax on bitcoin then you have to pay tax on it other wise there is no tax on bitcoin at all.

Superbitzz
but i think it is up to your country policy, if your country consider bitcoin as legal and then impost tax on it then you must have to pay tax on it ans you will have no other choice.
no it is not tax, it is just the fee you pay on transaction, the tax you have to pay to the government and government only impose tax on such things which are legal and do not impose tax on such item which are not legal, as bitcoin is still not consider as legal therefore there is no tax on bitcoin.
i think it depend on your country policy, if your country impose tax on bitcoin then you really have to pay tax on it but for this your country must have to declare bitcoin as a legal currency first.
yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.
yes that is a fact that every one has to pay tax on fiat currency, but it we talik about bitcoin so there is no tax on bitcoin because bitcoin is not a legal currency, and still not legalize by any country.
yes that is a fact and i thin still not a single country has impose tax on bitcoin and the reason is that not a single country yec turn bitcoin as legal currency therefore to me there is no tax on bitcoin.

satdas
it depend on the area and the country where you are living, if your country has imposed tax on bitcoin they you have to pay tax but i thin still not a single country has yet consider bitcoin as legal currency therefore there is still no tax on bitcoin.
but i think the government cannot develop a system to impost tax on bitcoin until they legalize it, and still i do not think that any country has officially legalize bitcoin, i think still any government given any statement about bitcoin that either it is a legal currency or not, and therefore still there is no tax on bitcoin. may be in future when government when the government will legalize bitcoin will think about to impose tax on bitcoin.
yes that is right to say, as not a single country has yest consider bitcoin as legal currency therefore they are not putting tax on bitcoin but once it become a legal currency then they will certainly put tax on bitcoin, may be some countries are thinking about this to legalize it, and if once it become a legal currency then it will become more and more popular currency of the world.

Dora Doll
but i think still there is no tax on bitcoin any where, still bitcoin is tax free, and the reason is that still not a single country consider bitcoin as legal currency therefore still there is no tax on bitcoin. may be in future when governments will accept bitcoin as legal currency then they will put tax on bitcoin.
yes but as not a single country yet consider bitcoin as legal currency therefore i  think there is no tax on bitcoin and when bitcoin will be consider as legal currency then they will put tax on bitcoin,

Maesters1
yes it depend on the policy of a country, if a country has imposed tax on bitcoin then you have to pay otherwise bitcoin is tax free in most of the areas as most of the countries has yes not yet consider bitcoin as legal currency.
i think most of the countries have no tax on bitcoin, and the reason is that bitcoin is not yet legalize by any state and there is no poly of any country to impost tax on illegal items, and therefore there is no tax bitcoin in most of the countries.

Others
if you country has imposed tax on bitcoin then you have to pay tax on it, otherwise there is no tax on bitcoin there is  only transaction charges and nothing else.
it totally depend on your country policy if your country have impost tax on bitcoin then you certainly have to pay tax on bitcoin otherwise it is free of tax every where.
yes i also agree with you, that if you country has impose tax tax on bitcoin then you have to pay tax other wise there is no tax but it is also a fact that still very little number of state have impost tax on bitcoins may be yet not a single country.
i think that is not you are paying tax, you are just paying service charges, tax is only collected by the government, and government only collect tax on legal things, as bitcoin is not a legal currency therefore government is not collecting tax on bitocin.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
yes there is no tax on bitcoin directly but if you change your bitcoin in to fiat currency and deposit it in bank they  you have to pay tax, actually bitcoin is not yet consider as legal in any country therefore there is no tax on bitcoin any where.
i think it is totally depending on the policy of your country, if your country has imposed tax on bitcoin then you must have to pay tax, other wise there is no tax on bitcoin.
but in my country there is no tax on bitcoin, as we have to pay tax on such item which are legal or registered with government, as bitcoin is not yet registered with government nor the government consider it as legal currency, therefore there is no tax on bitcoin.
i think it is depending on our country policy, if your country has impose tax on bitcoin then you really have to pay tax on bitcoin, but i think still most of the countries has not yet impost tax on bitcoin, therefore bitcoin is still free in most of the countries.
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moriskarlov
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November 05, 2016, 10:36:28 AM
 #82

Who are you going to pay taxes? After all, there is no such official currency.
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November 08, 2016, 06:42:44 PM
 #83

Who are you going to pay taxes? After all, there is no such official currency.
yes that  is right to say that bitcoin is not an official currency and therefore their is no tax on bitcoin, but once bitcoin become legalize by government then they must impose tax on bitcoin but i think in present time there is no tax on bitcoin.
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November 10, 2016, 07:12:52 PM
 #84

There is no tax on bitcoin only the fee for transaction that you should pay for every transaction..
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November 17, 2016, 01:32:58 PM
 #85

it depend on the area and the country where you are living, if your country has imposed tax on bitcoin they you have to pay tax but i thin still not a single country has yet consider bitcoin as legal currency therefore there is still no tax on bitcoin.

That is absolutely incorrect. Bitcoin doesn't have to be a currency for taxes to be imposed on it.
Taxes are imposed on income / profits and you definitely can profit using bitcoins.

     Taxes is a very hot issue for everyone; so if someone wants to have an overview as regards the legislation on taxation can take a look at this article https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country by Wikipedia. About what is happening in every country because the article is relatively old and the tax legislation in some countries changes very often should be addressed to the appropriate law firm. Especially if it concerns EU country then the attorney firm must have the appropriate experience and knowledge of EU directives because many EU countries prefer to embodiment the EU directive particularly if the issue is global, complex and there is not the relevant experience
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November 20, 2016, 10:48:39 PM
 #86

This thread has truly been a boon to account farmers:

hurain
no we do not pay tax on bitcoin, actually our government has not yet declare bitcoin as legal currency therefore it is yet tax free, because there id no tax on any illegal object, but if the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax,
i think it depend on your country polity if your country has decler bitcoin legal and imposed tax on bitcoin then surely you have to pay tax on bitcoin, otherwise there is no tax on bitcoin because in most of the area bitcoin is not legal and the country not yet consider bitcoin as legal currency.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
i think it depend on the policy of your country, if your country imposed tax on bitcoin then you have to pay tax on it other wise there is no tax on bitcoin at all.

Superbitzz
but i think it is up to your country policy, if your country consider bitcoin as legal and then impost tax on it then you must have to pay tax on it ans you will have no other choice.
no it is not tax, it is just the fee you pay on transaction, the tax you have to pay to the government and government only impose tax on such things which are legal and do not impose tax on such item which are not legal, as bitcoin is still not consider as legal therefore there is no tax on bitcoin.
i think it depend on your country policy, if your country impose tax on bitcoin then you really have to pay tax on it but for this your country must have to declare bitcoin as a legal currency first.
yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.
yes that is a fact that every one has to pay tax on fiat currency, but it we talik about bitcoin so there is no tax on bitcoin because bitcoin is not a legal currency, and still not legalize by any country.
yes that is a fact and i thin still not a single country has impose tax on bitcoin and the reason is that not a single country yec turn bitcoin as legal currency therefore to me there is no tax on bitcoin.

satdas
it depend on the area and the country where you are living, if your country has imposed tax on bitcoin they you have to pay tax but i thin still not a single country has yet consider bitcoin as legal currency therefore there is still no tax on bitcoin.
but i think the government cannot develop a system to impost tax on bitcoin until they legalize it, and still i do not think that any country has officially legalize bitcoin, i think still any government given any statement about bitcoin that either it is a legal currency or not, and therefore still there is no tax on bitcoin. may be in future when government when the government will legalize bitcoin will think about to impose tax on bitcoin.
yes that is right to say, as not a single country has yest consider bitcoin as legal currency therefore they are not putting tax on bitcoin but once it become a legal currency then they will certainly put tax on bitcoin, may be some countries are thinking about this to legalize it, and if once it become a legal currency then it will become more and more popular currency of the world.

Dora Doll
but i think still there is no tax on bitcoin any where, still bitcoin is tax free, and the reason is that still not a single country consider bitcoin as legal currency therefore still there is no tax on bitcoin. may be in future when governments will accept bitcoin as legal currency then they will put tax on bitcoin.
yes but as not a single country yet consider bitcoin as legal currency therefore i  think there is no tax on bitcoin and when bitcoin will be consider as legal currency then they will put tax on bitcoin,

Maesters1
yes it depend on the policy of a country, if a country has imposed tax on bitcoin then you have to pay otherwise bitcoin is tax free in most of the areas as most of the countries has yes not yet consider bitcoin as legal currency.
i think most of the countries have no tax on bitcoin, and the reason is that bitcoin is not yet legalize by any state and there is no poly of any country to impost tax on illegal items, and therefore there is no tax bitcoin in most of the countries.

Others
if you country has imposed tax on bitcoin then you have to pay tax on it, otherwise there is no tax on bitcoin there is  only transaction charges and nothing else.
it totally depend on your country policy if your country have impost tax on bitcoin then you certainly have to pay tax on bitcoin otherwise it is free of tax every where.
yes i also agree with you, that if you country has impose tax tax on bitcoin then you have to pay tax other wise there is no tax but it is also a fact that still very little number of state have impost tax on bitcoins may be yet not a single country.
i think that is not you are paying tax, you are just paying service charges, tax is only collected by the government, and government only collect tax on legal things, as bitcoin is not a legal currency therefore government is not collecting tax on bitocin.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
yes there is no tax on bitcoin directly but if you change your bitcoin in to fiat currency and deposit it in bank they  you have to pay tax, actually bitcoin is not yet consider as legal in any country therefore there is no tax on bitcoin any where.
i think it is totally depending on the policy of your country, if your country has imposed tax on bitcoin then you must have to pay tax, other wise there is no tax on bitcoin.
but in my country there is no tax on bitcoin, as we have to pay tax on such item which are legal or registered with government, as bitcoin is not yet registered with government nor the government consider it as legal currency, therefore there is no tax on bitcoin.
i think it is depending on our country policy, if your country has impose tax on bitcoin then you really have to pay tax on bitcoin, but i think still most of the countries has not yet impost tax on bitcoin, therefore bitcoin is still free in most of the countries.

Agree - perfect examples of poor quality (bad/useless information/advice) posts that continue to plague this forum.
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November 21, 2016, 02:09:40 AM
 #87

There is no such thing as taxes in bit coin and that's what makes it so popular' surely there are fees from transferring from one site to another but unlike real bank accounts bitcoin wallets do not take your money
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November 21, 2016, 02:18:21 AM
 #88

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?
Ofcourse , You need to pay tax for your bitcoin that you have but you needn't to pay for how much you have in your wallet . But during a huge amount of btc transaction and convert it into fiat , then you need to pay tax ( according to yearly tax system )

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kryptqnick
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December 06, 2016, 07:15:19 PM
 #89

We don't know whether your government recognizes btc, because it is not the same for all the countries. Do you have to pay tax? From the moral feeling of duty I guess you do, but the problem is that it wouldn't be easy to do that, because of burocratic stuff. From the legal point of view bitcoin is mostly our of the law, so you shouldn't pay anything. However, I heard some countries (like GB) are now trying to regulate the use of btc.

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December 07, 2016, 12:25:37 AM
 #90

There is no tax on bitcoin only the fee for transaction that you should pay for every transaction..

In the US there is good precedence set for taxation and a good tax accountant can easily advise you. The big focus should be in building credibilty and a good reputation for the entire ecosystem. A few bad apples can really have a negative impact on wide spread adoption and invite undeserved scrutiny for the rest of us that are trying to legitimize cryptocurrencies.
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December 08, 2016, 07:43:51 AM
 #91

I do think btc is designed to not paying tax.

Because tax is something from centralization , while btc not.

If we pay tax and tell the government how much btc we have and how we spending it .

What the difference between btc and fiat money?
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December 11, 2016, 12:01:59 AM
 #92

We don't know whether your government recognizes btc, because it is not the same for all the countries. Do you have to pay tax? From the moral feeling of duty I guess you do, but the problem is that it wouldn't be easy to do that, because of burocratic stuff. From the legal point of view bitcoin is mostly our of the law, so you shouldn't pay anything. However, I heard some countries (like GB) are now trying to regulate the use of btc.
WTF are you talking about? How come you feel morally responsible to pay taxes? Did the world go insane or are you the new generation of slaves born into debt and taxation and thinking it's your moral duty to pay them? Wait, it gets better, you think you're not legally obliged to pay, but feel like you should! I'm speechless. Remember to brush your teeth, take your pills and be fast asleep before midnight citizen!

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December 11, 2016, 03:32:02 AM
 #93

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?
Laws vary from country to country, but it is likely that if you buy bitcoin for 500 and sell it for 700 then some kind of tax is likely to be applied for that profit margin.
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December 17, 2016, 08:53:20 AM
 #94

I think bitcoin is not taxed because bitcoin is not a currency in certain countries only currency bitcoin in gital that facilitate the exchange of bitcoin to major currencies so no one should be disadvantaged from each other
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December 18, 2016, 12:01:07 AM
 #95

I think bitcoin is not taxed because bitcoin is not a currency in certain countries only currency bitcoin in gital that facilitate the exchange of bitcoin to major currencies so no one should be disadvantaged from each other
It doesn't have to be a currency to be taxed. For instance the house you're living in (or a block of flats) is taxed.
Anyway, I agree that in most places you don't have to pay taxes on bitcoin as long as you don't have a registered business and don't buy fiat or expensive goods with it.

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December 18, 2016, 12:55:33 AM
 #96

Anyway, I agree that in most places you don't have to pay taxes on bitcoin as long as you don't have a registered business and don't buy fiat or expensive goods with it.

That's not the legal reality in most jurisdictions, just what people can often get away with.
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December 18, 2016, 02:23:46 AM
 #97

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?
Ofcourse we need to pay tax for Bitcoin because it is also a type of money which is Making living of the millions people .
Here the big reason to pay tax is because if we are with Bitcoin than at last we need to convert Bitcoin into fiat That fiat is come in your account from where ?? and why?? this question will be made  if your earning will go cross the upper tax paying amount in your bank account . So if I will not paid tax then you are violating the laws of taxation in your country .
Allover you are earning in very small amount then you don't need to pay tax at all .
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December 18, 2016, 02:39:20 AM
 #98

so i wanna know do i realy have to pay taxes on bitcoins and does my gov recognize bitcoins as my property and do i have to care about any legal action by  gov on my bitcoin property ?
Ofcourse we need to pay tax for Bitcoin because it is also a type of money which is Making living of the millions people .
Here the big reason to pay tax is because if we are with Bitcoin than at last we need to convert Bitcoin into fiat That fiat is come in your account from where ?? and why?? this question will be made  if your earning will go cross the upper tax paying amount in your bank account . So if I will not paid tax then you are violating the laws of taxation in your country .
Allover you are earning in very small amount then you don't need to pay tax at all .
I think it is only matter that how much you are saving from Bitcoin after spent in daily life .
Since I am in the Bitcoin from about two year but still my earning is not much more , even I am making trading but if anyone in Bitcoin is running his casino like things than he is making a big bundle or money ,So the system of taxation is  only for millionaire in the Bitcoin .

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December 18, 2016, 02:56:57 AM
 #99

This thread has truly been a boon to account farmers:

hurain
no we do not pay tax on bitcoin, actually our government has not yet declare bitcoin as legal currency therefore it is yet tax free, because there id no tax on any illegal object, but if the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax,
i think it depend on your country polity if your country has decler bitcoin legal and imposed tax on bitcoin then surely you have to pay tax on bitcoin, otherwise there is no tax on bitcoin because in most of the area bitcoin is not legal and the country not yet consider bitcoin as legal currency.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
i think it depend on the policy of your country, if your country imposed tax on bitcoin then you have to pay tax on it other wise there is no tax on bitcoin at all.

Superbitzz
but i think it is up to your country policy, if your country consider bitcoin as legal and then impost tax on it then you must have to pay tax on it ans you will have no other choice.
no it is not tax, it is just the fee you pay on transaction, the tax you have to pay to the government and government only impose tax on such things which are legal and do not impose tax on such item which are not legal, as bitcoin is still not consider as legal therefore there is no tax on bitcoin.
i think it depend on your country policy, if your country impose tax on bitcoin then you really have to pay tax on it but for this your country must have to declare bitcoin as a legal currency first.
yes that is right say you can buy more and more bitcoin and can hold it for a long time tell yo wan to keep, as there is no tax on bitcoin and no one has to pay tax on bitcoin tell the government impose tax on it.
yes that is a fact that every one has to pay tax on fiat currency, but it we talik about bitcoin so there is no tax on bitcoin because bitcoin is not a legal currency, and still not legalize by any country.
yes that is a fact and i thin still not a single country has impose tax on bitcoin and the reason is that not a single country yec turn bitcoin as legal currency therefore to me there is no tax on bitcoin.

satdas
it depend on the area and the country where you are living, if your country has imposed tax on bitcoin they you have to pay tax but i thin still not a single country has yet consider bitcoin as legal currency therefore there is still no tax on bitcoin.
but i think the government cannot develop a system to impost tax on bitcoin until they legalize it, and still i do not think that any country has officially legalize bitcoin, i think still any government given any statement about bitcoin that either it is a legal currency or not, and therefore still there is no tax on bitcoin. may be in future when government when the government will legalize bitcoin will think about to impose tax on bitcoin.
yes that is right to say, as not a single country has yest consider bitcoin as legal currency therefore they are not putting tax on bitcoin but once it become a legal currency then they will certainly put tax on bitcoin, may be some countries are thinking about this to legalize it, and if once it become a legal currency then it will become more and more popular currency of the world.

Dora Doll
but i think still there is no tax on bitcoin any where, still bitcoin is tax free, and the reason is that still not a single country consider bitcoin as legal currency therefore still there is no tax on bitcoin. may be in future when governments will accept bitcoin as legal currency then they will put tax on bitcoin.
yes but as not a single country yet consider bitcoin as legal currency therefore i  think there is no tax on bitcoin and when bitcoin will be consider as legal currency then they will put tax on bitcoin,

Maesters1
yes it depend on the policy of a country, if a country has imposed tax on bitcoin then you have to pay otherwise bitcoin is tax free in most of the areas as most of the countries has yes not yet consider bitcoin as legal currency.
i think most of the countries have no tax on bitcoin, and the reason is that bitcoin is not yet legalize by any state and there is no poly of any country to impost tax on illegal items, and therefore there is no tax bitcoin in most of the countries.

Others
if you country has imposed tax on bitcoin then you have to pay tax on it, otherwise there is no tax on bitcoin there is  only transaction charges and nothing else.
it totally depend on your country policy if your country have impost tax on bitcoin then you certainly have to pay tax on bitcoin otherwise it is free of tax every where.
yes i also agree with you, that if you country has impose tax tax on bitcoin then you have to pay tax other wise there is no tax but it is also a fact that still very little number of state have impost tax on bitcoins may be yet not a single country.
i think that is not you are paying tax, you are just paying service charges, tax is only collected by the government, and government only collect tax on legal things, as bitcoin is not a legal currency therefore government is not collecting tax on bitocin.
if your country have impose tax on bitcoin then you have to pay tax otherwise there is no tax on bitcoin  only those countries may be collecting tax on bitcoin who are already accepted bitcoin as legal currency.
yes there is no tax on bitcoin directly but if you change your bitcoin in to fiat currency and deposit it in bank they  you have to pay tax, actually bitcoin is not yet consider as legal in any country therefore there is no tax on bitcoin any where.
i think it is totally depending on the policy of your country, if your country has imposed tax on bitcoin then you must have to pay tax, other wise there is no tax on bitcoin.
but in my country there is no tax on bitcoin, as we have to pay tax on such item which are legal or registered with government, as bitcoin is not yet registered with government nor the government consider it as legal currency, therefore there is no tax on bitcoin.
i think it is depending on our country policy, if your country has impose tax on bitcoin then you really have to pay tax on bitcoin, but i think still most of the countries has not yet impost tax on bitcoin, therefore bitcoin is still free in most of the countries.
Perfect example of the total shit this forum has to deal with due to paid signatures.

The policy should be one warning then perm ban anyone with a paid signature.  Ban ALL paid signatures.

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December 18, 2016, 05:17:35 PM
 #100

Perfect example of the total shit this forum has to deal with due to paid signatures.

The policy should be one warning then perm ban anyone with a paid signature.  Ban ALL paid signatures.

First of all what does this post have to do with the topic? It should be in meta, not here. By saying "signatures are shit" in a topic about taxes you are spamming like the rest of them.
It has been repeated hundreds of times, not all signature posters spam and not all write for the sole purpose of getting paid.

Anyway, I agree that in most places you don't have to pay taxes on bitcoin as long as you don't have a registered business and don't buy fiat or expensive goods with it.
That's not the legal reality in most jurisdictions, just what people can often get away with.
So, what in your view should a bitcoin holder do? Calculate the price of his stashed coins each year and report a gain or loss depending on whether in the last 12 months bitcoin was pumped or dumped?
This would mean that if you own any jewelry you should do the same and report a gain or loss each year based on its value.

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