Are You in Favor to Register Your BTC Address to Trace Transaction and Tax???

[bitcoinsocial09]

Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it?  It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins.   This has become the talk of the people involved in digital currency lately.  So, What do you think?

I would be happy if it is only for tracing my transactions, but with taxes? That would be a big hindrance with just little bitcoin earnings, And where would the taxes go? Since other countries did not legalize bitcoin some people who are using it still may get traced to where they are using but i still do not think that is also benefit for it will be a cause for lesser bitcoin oriented population. It will also discourage new participants to commit given that newbies or new participating members have very fair payout, if it gets tax decrease how do you think users will react. They might start wanting to be anonymous and hide their transactions by using other sites for receiving.

[Pleione527]

I don't see anything bad with this I just hope that if they will imposed that full adaptation and acceptability of bitcoin must be implemented by government so that the demand in bitcoin will grow more and the value will continue to increase

[Lucius]

I can agree with everyone who say that question by OP have no sense and that something like that would never worked.Using only one address is completely the opposite what represents BTC and it would be like we have account in normal bank.Only way government can track BTC users to collect tax is to force all exchanges that collect users data and give them that data back once a year.So if you are verified user who buy/sell BTC on exchange you will pay tax.Question is do we pay tax just to own BTC or in case we sell it for fiat?

[paul00]

If this will happen, it will be fine with me as long as there will be an assurance for us bitcoin users that are wallets and account would still be safe from possible risk of hacking. I also hope that this will not cause too much stictness to us. However, this thing might be hard to implement since tracing of address is already difficult and tracing would already cost a lot of money.

[The One]

Paying tax when a currency appreciate in value is stupid. The government does not compensate you when they debase the value of you fiat currency.

Stop worrying about taxes, it has nothing to do with the government.

[Theb]

If you have ever authorized them to do so the best they can do is to see the transactions you are having but they won't see what kind of transaction are they because they won't know it if it is for buying or selling and if it is for remittance. It all boils down to the Bitcoin iser of becoming an honest person who will be paying his or her right taxes. I want this to work in order for the government to be in full support of Bitcoin

[South Park]

There is no one fixed address and anyone can generate as many as he wants.What is the point in registering address then?

As I said in a previous post, the governments may try to create their own bitcoin wallets, there is nothing stopping them from doing it, but if you do you will probably have to go through KYC policies and they are only going to give you one address, but that will require the cooperation of the people.

[Shamie1002]

Bitcoins are made so that our transactions are easy and will not go through much of the process. The bitcoins do not control it is decentralized. And if each of us has a look at our every action. Bitcoins are no longer decentralized if that happens.

Agree Sir, having bitcoin under taxes and being traced will make slower transaction. So what will e the benefit of using bitcoins.  Firstly, no more free from fees ?, no more fast transaction ?, no more anonymity ? In general no more profits because of taxes..
I am against it also.

[4p0l4k4y]

That won't be a great idea. I prefer our wallets to remain invincible from the government. Everything is being taxed now it's not fair that we are sharing to them everything we worked hard to achieve.

[TanyaDegurechaff]

Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it?  It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins.   This has become the talk of the people involved in digital currency lately.  So, What do you think?

Well well the government wont stop until they tax everything. if they can tax the air we breath they will definitely do it too  . But taxing bitcoin would be impossible because in a single wallet there are many addresses that can be used for transactions and the devs of the wallet won't allow it to be regulated because they will lose profits too. So dont fear that bitcoin and its transactions will be taxed by the government.

[TomUyamot]

Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it?  It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins.   This has become the talk of the people involved in digital currency lately.  So, What do you think?

I am not in favor of it. That is foolish to inject such laws and policies to an invention primarily done as an opposite reaction to it. But that should not be the case to lawmakers as well as other public officials and officers, both elected and appointed. These people are public property. For them to become really an open book, there should be utmost transparency to them. But to ordinary citizens, it is not needed. Bitcoin is against it!

[domgamer]

I'm in favor of registering our bitcoin address to trace transactions but not to impose additional tax. I think no one wants wants additional taxes because it raises our transaction fees in trading bitcoin.

[krishnapramod]

If you are using centralized exchanges like Coinbase then I guess it's a bit hard to avoid taxes. It is somewhat true even if you are using any other exchange that follow KYC/AML laws and Bitcoin is taxable in your country. As far as you are converting Bitcoin to your local currency and the conversion can be tracked backed to a Bitcoin exchange, you're are liable to pay taxes.

Taxes ends with Fiat conversion. I am not legally obliged to report my non-fiat Bitcoin transactions.

[KingOfWinterfell01]

Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it?  It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins.   This has become the talk of the people involved in digital currency lately.  So, What do you think?

Disagree. I don't like someone snooping on my bitcoins and regulating it specially taxing it. If it does, however, make bitcoins safer for everyone (because as far as I know bitcoins are safe to begin with) then I'd agree for it to be traced down but I disagree fully on having it taxed.

[BlackRacerX]

Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it?  It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins.   This has become the talk of the people involved in digital currency lately.  So, What do you think?

Trace it all they want as long as they don't tax my bitcoin, then there's no problem. I'd be angrh knowing some government who doesn't give a damn about us investors trying to take our bitcoins just so they can "trace" it.

[ekoice]

No,i would never want to reveal my identity regarding using bitcoins.Bitcoin is mainly chosen due to its decentralized nature since it is out of reach of the government and due to its anonymous nature.People who are already fed of government's taxes have started to choose bitcoin as their safe haven.

So,no one would deliberately come forward to reveal their identity unless it is strictly enforced by government through laws.

[jamirrah]

In my point of view this would help lessen criminality in bitcoin world like scamming since it would be easy to identify people behind scammers address and regarding tax?in my country tax is like a burden for people but its an obligation to pay for so cant do nothing about that if government implement.

[jerry0]

Well if you transfer btc from one address to another one... would there still be trace?  For example say you do lot of transactions with a few btc addresses, but could you transfer it to an address where  it doesn't link you to those previous transactions?