When Bitcoin will be taxed, will it still be as in demand as it right now?

[Harlot]

What? Since when did Bitcoin earnings not taxable?  For your information anything that is involve receiving money in any form that is counted as income is taxable by law. It does not matter what kind of money you receive it in it does not make you immune to paying tax even in Bitcoin. I am guessing that you are not reflecting your Bitcoin earnings in your tax report, well you should be as an audit from your tax department can give you lots of trouble.

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[Anarchist]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

Currently, Bitcoin is not "universally" accepted but guess what? Governments didn't wait to tax it! You have to report the profits you made and so pay the taxs depending of the profits

[TheBTCAlex]

Not really, I think not. The most sought-out feature of BTC I think is that it is decentralized and government can't control the transactions and interfere with any kind of taxation. That will definitely cause a huge amount of decrease in demand for BTC. Also, I think the current transaction fees is pretty huge, and if more taxation would have been introduced, then the average person would also stop bitcoin, thus decreasing the demand of BTC furthermore.

[syaripudin]

I think if bitcoin is acceptable to the government there will be a tax problem that must be done. And the question is if bitcoin is taxed, whether it will affect the bitcoin request itself. I do not think there will be any impact on the decrease in bitcoin demand. The demand for bitcoin will increase from time to time. Do not we all know that in transactions in bitcoin there is already a piece of administration. Or by transferring to the bank and there is already a piece. Whether it's a piece of taxation or not, this proves that the demand for bitcoin keeps on increasing. So I do not think it will affect the bitcoin request.

[Lanatsa]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

Bitcoin community wont really be ready since this thing wont really happen on bitcoin world and its impossible for it to be accepted on all government of the world and they cant directly taxed bitcoin and we know all that but government could possibly get tax from those establishments and services which do accepts bitcoin but the main problem here is that if people would be honest enough to pay up their tax.

[joebrook]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

I know that there are some countries where bitcoins is taxed accordingly and still people are patronizing as they always did. But i believe that the taxation should be implemented only when people are using their fiat to purchase bitcoins and not when they are exchanging it to fiat. Taxation must be implemented when bitcoin is being used to buy goods and services just like other currencies.

[JCO05]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

As long as the tax won't be that big, that will still make its users profitable from Bitcoin. Or maybe, even if it will be taxed, it will still be indemand because of its expensive value. But ofcourse, it won't be possible since Bitcoin is an open source system, decentralized and has no physical value. Government can only make it legal or nor but won't be able to tax it, in my opinion.

[iram1011]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

As long as the tax won't be that big, that will still make its users profitable from Bitcoin. Or maybe, even if it will be taxed, it will still be indemand because of its expensive value. But ofcourse, it won't be possible since Bitcoin is an open source system, decentralized and has no physical value. Government can only make it legal or nor but won't be able to tax it, in my opinion.

It is already being taxed in many countries. For instance take USA. In USA, Bitcoin is considered as property and is liable to tax on capital gain. So does some more countries where Bitcoin is legalized. Meanwhile Japan has recently ended any kind of tax on Bitcoin. Indeed a welcoming move by the government.

[h0lybyte]

As far as the volatilization and anonymity remains with bitcoin,its use shall not be affected by tax.
Bitcoin amateures are already paying transaction fee to networks as a kind of tax.
If government ordains tax on bitcoin alter than network fee,traders would still like to have it more because at that time it will be demanded more than before due to legalization.

[audaciousbeing]

I dont see any reason why bitcoin been taxed is going to reduce the amount of demand that is going to happen in short it will even encourage the massive adoption as well because taxing it means giving it recognition in which will open a new horizon of opportunities that will attract a lot of new people into the crypto space, business will openly accept without the fear of doing anything illegal, there wont be the name calling all around again among other advantages that will come with that tax issue.

[Altero]

Probably it could affect the bitcoin world but not big enough that could make bitcoin into down. But probably it will back to its normal status as what is bitcoin now. Yes it is still in demand from the market because the community have already familiarize  about bitcoin. Tax that have collected by the goverment is just a small amount and still they are earning from bitcoin.

[allthingsluxury]

If you buy and sell BTC for a profit, technically you need to be paying taxes legally on the gains and therefore, you are being taxed.

[Qartersa]

If you buy and sell BTC for a profit, technically you need to be paying taxes legally on the gains and therefore, you are being taxed.

Regardless of whether you buy and sell bitcoins, you still have to pay some sort of taxes. If you bought some at a low price and sold it at a high price, even if that is not your main line of business, you still profited from that sale. The governments have a right (yeah, freaking stupid) over those funds. It is stupid to assume that taxes will never affect bitcoins.

[Nivir]

Regardless of bitcoin being accepted by the government I think we are already taxed with every transaction we make out of bitcoin. So there won't be much difference of its demands because it will just stay as it is.

[olubams]

Even when the transaction fees was the highest, a lot of people didn't mind the transaction fees and still carry out their transactions. It was even at this point that we witnessed quite an amount of growth in the price of bitcoin which means despite the high charges, a lot of entries was still been recorded and I don't see taxes been any different because but the issue there would be that there won't be any form of anonymous transaction again.

[Colt22]

Not really, I think not. The most sought-out feature of BTC I think is that it is decentralized and government can't control the transactions and interfere with any kind of taxation. That will definitely cause a huge amount of decrease in demand for BTC. Also, I think the current transaction fees is pretty huge, and if more taxation would have been introduced, then the average person would also stop bitcoin, thus decreasing the demand of BTC furthermore.

Yes, the only one thing bad about bitcoins now is the taxation they are imposing in name of fee. As you said, it is so true that even now many people are just leaving bitcoins for the fee becoming so huge and it’s not profitable somehow. And if it is taxed under government rules then definitely there will be a decrease in bitcoin business.

[Palider]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

I don't think so if the bitcoin accepted by the government and make a tax expense? i think the demand of perhaps there are some who will not use it, because they have to be mistreated because of the tax expense. But you will still earn more in the future if you are going to get a hold of it. Possiblw will be increase and demand it is because it covered by the government.

[matchi2011]

Not really, I think not. The most sought-out feature of BTC I think is that it is decentralized and government can't control the transactions and interfere with any kind of taxation. That will definitely cause a huge amount of decrease in demand for BTC. Also, I think the current transaction fees is pretty huge, and if more taxation would have been introduced, then the average person would also stop bitcoin, thus decreasing the demand of BTC furthermore.

Yes, the only one thing bad about bitcoins now is the taxation they are imposing in name of fee. As you said, it is so true that even now many people are just leaving bitcoins for the fee becoming so huge and it’s not profitable somehow. And if it is taxed under government rules then definitely there will be a decrease in bitcoin business.

I don't think it can be compared to tax and trnsaction fees are necessary for bitcoin to survive. We can't just do transactions like sending money, or making purchses without transaction fees as bitcoin or crypto in general wouldn't have a way to sustain it for a long time.

[fabrizoc]

When Bitcoin will be universally accepted accepted by Government, of course it will be taxed accordingly. Do you think it will still be as in demand as it is right now, that makes its price higher and higher everyday.

Does the bitcoin community is ready for this?

there is no central bank governing the market so I don’t expect it to be taxed and even the transaction fee being paid to miners for transactions should be a form of Tax too, maybe it should be PAYE(pay as you earn) form of tax for bitcoiners.

[Etaurith]

Just to let you know anything that is involved with receiving money in any form, that is counted as income is taxable by law. It does not matter what kind of money you receive it in. So i think bitcoin will never stop growing.