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

[bcnaranjo]

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?

[Janation]

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?

For me, even if the government doesn't really accept bitcoin, we are being taxed as a bitcoin user. Every transaction we made, we pay a fee to miners, I think I can call that as a tax.
And I don't think bitcoin will be having a tax these years, not after a lot of years.

[ladydark]

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?

Taxing would not affect usage of bitcoins in any way.More people would be interested in buying bitcoins continuously which would increase its demand and hence its price also.We recently saw japan legalizing bitcoin.Japanese know very well that their bitcoin earnings would be taxed but still they showed more interest in buying bitcoins which created a great demand for bitcoins and it led to the rise in price of bitcoins also internationally.

[Mpamaegbu]

Bitcoin is already taxed! Whether we intelligently accept this or ignorantly argue it, there's tax placed on Bitcoin whenever we make any transaction with Bitcoin. Of course whenever we make conversion into fiat the tax becomes obvious as banks exemplify this. Also, don't miners get paid through our transactions? Shouldn't we equate that as tax too. Anyway, tax or no tax, I don't see this affecting the usage of Bitcoin.

[xuan87]

I think it will still in high demands, most of  the transaction is hidden and unknown, so the government will have difficulty to track the transaction, and now we are already being taxed, when we want to convert the Bitcoin to the Fiat, and up until now the demands is still high

[Sled]

Bitcoin will be taxed if the government will accept and make it as a legal currency. If they will tax bitcoin then that is when they are going to make profits because they know that there is a high profit in bitcoin and i think it will be still in high demand because the people will feel more comfortable becuase of the legality of bitcoin that is backed by the government.

[Gotottack]

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 it will be taxed like how government taxes owning real property. Government taxes property in a yearly manner and depending how big your estate is (well in most states). Most likely bitcoin will only be taxed in terms of its use. So it will not be taxed because you are just holding it, but likely when you profit from its use. More of an income tax.

[Ilegendph]

Government cant really taxed bitcoin transactions directly because the transactions offered by bitcoin is from user to user and not under any company or corporation thats why the demand for bitcoin is getting high because free lancers choose this kind of payment from their work or project.

[matchi2011]

No it won't. Taxing btc is removing one of the features that made it popular to users right now. There will still be use for btc of course but the decline in users would be a lot.

[gabbie2010]

Tax or no tax will not have any adverse effect on the demand for bitcoin, in my country exchanging bitcoin to fiat via banks attracts some little deduction from the account of the buyer I.e indirectly taxed but this did not discourage exchangers from there operations I believed even with introduction of tax the demand for bitcoin will soar.

[GrayFullbuster]

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?

No. that is very impossible. The reason why many people got interested to the bitcoin is because of being decentralized. The government can't control the bitcoin and it can't be taxed.

[CryptoBry]

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?

Taxing Bitcoin can actually make it more popular. Why? It is because when the government will fully tax Bitcoin it can mean that the government is somehow recognizing Bitcoin and getting involved with the currency will not anymore be somehow illegal.

Actually, a lot of governments are already putting tax on Bitcoin transactions and if you gain some income out of your Bitcoin transaction and you declared it then you should be paying some tax. Tax is not the enemy of Bitcoin.

[iram1011]

Bitcoin is already being taxed in most of the major countries. But instead of reducing the demand it has opposite effect. When a government recognises any commodity, then people of that country start trusting it. Where many people are skeptical of Bitcoin being an illegal currency. Such steps by government rather work in favor of bitcoin.

[TexasHuck]

Bitcoin is already being taxed in most of the major countries. But instead of reducing the demand it has opposite effect. When a government recognises any commodity, then people of that country start trusting it. Where many people are skeptical of Bitcoin being an illegal currency. Such steps by government rather work in favor of bitcoin.

Well said, and I agree.  It has had a great effect on BTC.  Let's keep the positive progress...

[Carlsen]

My bitcoins are already taxed at the point when I sell them.
This does not decrease my demand for them. But it means more work for me.
I have to study all those taxe rules and make my tax declaration.
Profit is still there, and that is the most important thing.

[Kakmakr]

Bitcoin is taxed already in most countries. Some countries see bitcoin as a commodity and they take capital gain tax on your profits you make from the trading that are done. In many countries they charge you VAT on all the things you buy with bitcoins. In some countries they charge you both capital gains and VAT.

You will even find that some countries are Bitcoin friendly and they charge zero tax on bitcoin commerce.

http://kryptomoney.com/bitcoin-tax-policies/

[masterwakokok7]

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?

No. that is very impossible. The reason why many people got interested to the bitcoin is because of being decentralized. The government can't control the bitcoin and it can't be taxed.

Nothing is impossible for the Government If they want something they could get it. If Bitcoin gets legally accepted by a country, Government would impose such laws and regulations on transacting Bitcoin. There's no such thing as a free entry into the market without getting taxed. To add Government can manipulate everything.

To answer the question, We are already taxed due to transactions fees. But once the government started to play a part in this industry for sure above that transaction fee is another tax imposed by the Government itself. The demand will depend on how will Bitcoin react at the market. We all know that Bitcoin is volatile, if it continues to grow then demand would increase for sure. But, potential investors would limit their investment to avoid big losses not only because of the tax but to make sure that they will not engage in something beyond their control.

[Yuhee]

Bitcoin is taxed already in most countries. Some countries see bitcoin as a commodity and they take capital gain tax on your profits you make from the trading that are done. In many countries they charge you VAT on all the things you buy with bitcoins. In some countries they charge you both capital gains and VAT.

You will even find that some countries are Bitcoin friendly and they charge zero tax on bitcoin commerce.

http://kryptomoney.com/bitcoin-tax-policies/

Well this is unevitable because offcourse we know how tax works that it could help the community not totally go in bankrupt. But at least it is not the same tax as other countries to its workers. Sometimes taxes are just so high that your wont hold your income in the amount that was promised to you. For me its ok to have taxes to avoid imbalance in a countries economy. It would still be in demand because now adays it is still in its discovery among other localities.

[Psalms23]

I think it will still be in demand.  In fact I think most bitcoin users are just hoping that taxing will not happen even though deep inside thier heart they know this will eventually happen. Since this is still new and not evryone knows about this, tax is still out of the question.  But even if tax will be imposed,  I think everybody is ready for it.

[Aladdin-Sane-83]

In my country it is pretty clear that the capital gains tax does apply to cryptocurrencies, so that doesn't really effect the demand so far, demand is growing...