Bitcoin v Tax

[stomachgrowls]

In most countries tax is not put on Bitcoin itself but on exchange transactions, trading. The pressure for regulation is bigger and bigger because of anti money laundering regulations, tax evasions, illegal markets etc. But regulation doesn't necessary have to be the bad thing for Bitcoin and its users so we don't have to be afraid of it.

The possible things that government will do is to impose taxes on the way of exchanges and other merchants who accepts bitcoin on their businesses since its the only way to get money from those bitcoin users but getting directly into bitcoin its not really possible since bitcoin is decentralized and they cant able to access the system.

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[Ayers]

they can't also regulate mining, they can not know how many coin a farm is producing, they see only the electricity usage if they try to find out, with your ESP(energy service provider), i think with bitcoin there is really a chance to evade tax in one way or another, and government already realized this

and also, what about regulating coin that are 100% anonymous, like monero zcash, zclassic? if those coin will be large in the future, it will be a pain for them to tax, they really can't do anything

[BitcoinHodler]

Will Bitcoin kill Tax or will governments find a way to regulate Bitcoin so that we can continue paying Tax?

they will regulate it eventually and start taking tax from every business and service that uses it but it takes time and bitcoin needs to get a lot bigger so that the tax man sees a big potential of earning money there to even act on it.

and who cares you can still continue using bitcoin and stay anonymous if you know what to do.

[coolcoinz]

They won't be losing much in the countries with VAT. They will tax shops and their suppliers, who use fiat. Bitcoiners will buy goods and services and pay their taxes.
The only problems governments will face is what to do with income tax, which will be almost impossible to impose on people transacting in Bitcoin.
Should we worry? No, income tax is very unjust and combined with benefits promotes laziness, unemployment, and keeps people in poverty.

[erikalui]

If bitcoins are regulated, then there could be a possibility of paying taxes on it else like gold, bitcoins could be treated as an investment and we would not have to pay any taxes. It would just be some holdings but I don't know how long will bitcoin keep sustaining its value as it drops and rises so often that people would pefer buying gold and shares or even property rather than bitcoins to save taxes.

[Carlsen]

If we buy legal stuff in the market, we already pay taxes when we use bitcoins.
The question is if posessing it will be taxed or if selling it will be taxed.
I am relatively sure that posessing bitcoins won't be taxed because it's just too hard to prove who ownes what.
But I think not too long in the future selling bitcoins will be taxed nearly everywhere on the planet.

[kryptqnick]

Bitcoin can't kill the taxes. Taxes are in the price of anything we can buy, except something out of law (like paying rent to smb without any official papers which is very common in my country). Taxes.. they won't kill bitcoin as well but they can harm its ideology. I think the governments will try to regulate btc via taxation.

[mummybtc]

This is another way they want to demonize Bitcoin, with or without Bitcoin some people will still find way to evade tax, those exchanges they are after now are all registered and are paying their tax to Government and since they have decided to see Bitcoin as an asset rather than currency, this is a two way thing here, those that bought Bitcoin at the top have still not made profit from their investment, so you can't pay tax on loss