Bitcoin being taxed?

[sufferer123]

There will be taxation wherever there are governments, there is no escape from it.

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[mindfly09]

To all country that accepted bitcoin. and For those who earn money it is okay to have a tax especially those who are mining, if we see all of us that earning and investing bitcoin have taxed in all transaction that called fee. but the government taxed is different
when it is legalized in a country it will be lawful and can be have taxed on each transaction income.

[ponicita]

To me the question is, how can you tax bitcoin?
Its impossible for the government to know that I have bitcoins, unless I tell them
Also its impossible for them to know that I buy or sell, unless I tell them

And why should I thell them? 

[Yakamoto]

Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb

It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?

I mean, Russia needs all the taxes it can get right now, really. The state of their country isn't the best, but it's slowly getting better as time progresses. Having a minor tax on cryptos would be beneficial, especially considering that there have been a ton of GPUs being bought up within their country and they did have a shortage at one point if I remember correctly.

I'm not a fan of taxes or regulations of any kind, but sometimes they can be valuable to countries. I personally think this is one of those instances where a country can benefit, especially if it is cryptos as a whole and not just one specific coin taking the heat, like Bitcoin previously.

Also most of the miners will likely not move. You don't realize some of the situations in Russia.

[adamantasaurus]

I know it is not going to be a popular thing to say here, but I think miners should be taxed just for the insane amount of energy consumption and resulting polution.  It seems we need a more eco-friendly solution than ASIC mining.

I mean what about other alternative forms of energy like solar or wind. I mean if energy was free clean and renewable this wouldn't even be a problem ya know

[blueteam09]

I think we should be glad to have a country that recognizes the existence of bitcoins and if they have levied bitcoin, then there are certainly better policies to support it and if they are Public access to bitcoin will be supported by large states and will, at the same time, increase the value of bitcoin and it will become a major payment method.

[SladeBitBit]

Although Bitcoin in some countries may be taxable. This doesn't mean you cannot avoid it. You just need to find better ways of avoiding taxing.

Regardless, some countries need this as bitcoin is enough of a threat to damage a countries economy. Despite its size, bitcoin can make people rich and this can create fears in even large countries and governments economy systems.

[barabut]

Each day minning is getting old fashioned, these type of regulations will also fasten the reach to the end, it is still profitable though

[Scorpion]

Personally I have no problem reporting my taxes, it's fair because Bitcoin is an value producing asset and the government does tax everyone else. I don't want to be like those fat cats that have offshore banks and greedily withhold their tax so it will slow growth in their own country.

[iamTom123]

Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb

It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?

Yes, of course, moving somewhere else where the environment can be a lot better will always be an option for the affected miners. But then again, it all depends on many factors. Moving to another country can entail a lot of costs and sacrifices and future regulations in that new country can also affect the operation.

Now, having said that, I think having a regulation is better than experience an enforced ban from the government (just like what China did to exchanges and ICO). A good business can always play with the rules set by the government as long as those are not set to kill the industry but to make it stronger and fairer to all participants.

There is a strong possibility of a stronger cryptocurrency movement in Russia next year if things would go smoothly as planned and even if the government is actually also planning to have its own version of a cryptocurrency. Russia can be a good crypto market and once the market is open the full potential of this country can be fully revealed.

[mobnepal]

Isn't taxation better than complete ban on bitcoin mining and trading? Actually government will always try to suck tax from their citizen in one way or another and they also like to collect tax from all bitcoin related activity including mining because they can't stop people from using bitcoin  , if miners have to also cover taxes on what they earns than this can  increase the price of bitcoin because miners can't just sell their bitcoin for loss.

[martina14]

you cannot tax ever the thing you cant see the file or undocumennted ! that why we were anonymous witth have bitcoin !

[jseverson]

Bitcoin taxation is simply inevitable. If your country starts to acknowledge it, they will want to make revenue off of it. I am not against this, as it's a small price to pay for Bitcoin kind of getting "legitimacy" by being "legalized" by the government.

But uh, why would you tax mining? These people already paid taxes on their equipment, their electricity, and they'll pay taxes to spend or exchange their coins. Taxing mining just seems straight up greedy. How would they even make sure that miners register? This is just a bad idea in my opinion and I hope they backtrack on this.

[bristlefront]

It should not be taxed since the government does not own bitcoin. But they always find a way to regulate the bitcoin. I think some countries are planning to regulate it but they lack rights to tax it. They will consider this illegal or put tax on it making bitcoin users leave no choice to choose to tax it. This could not happen if deep web does not interfere in bitcoin but it already happen so we must accept the bitcoin's fate.

[FoxTheHuman]

Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb

It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?

How do they tax it while we hold it and use it as an anonymizer? No one stupid wants to be taxed if they can hide it!

[fateh1313]

Yes its good, many countries can adopt this method to regulate tax on bitcoin. good method for countries to regulate bitcoin in there countries .  no thought people will move to other places es were there is no tax applicable on bitcoin   

[Ayaancool]

One of the major advantage of bitcoin is tax free transactions.If the government implement tax over bitcoin it's good to leave from it.We are trading bitcoins for making money more than the other investments .Other wise, we can hide all our transactions from the government to escape from the payment of tax ,but how long we can hide from them........?. So if my country is going to implement tax over bitcoins i will prefer to leave from it.

[bitcoinVPSD]

Yes, this is the most desirable thing for governments today. Bitcoin tax will bring great profits to the government. The government will be profitable and instead bitcoin workers and bitcoin users will be affected. I hope that if this happens, the government will have better policies to support bitcoin.

[Restmand]

Just happened across this one: https://motherboard.vice.com/en_us/article/7x4vad/putin-cryptocurrency-russia-mining-regulations-ico-bitcoin-ethereum?utm_source=mbfb

It sounds like a good idea from a government's perspective but wouldn't miners just move to locations where they don't have to register?

If the government make a tax in the bitcoin. Government will be happy again because they earned . but what the others? You you said thw miners if the government taxed it and the miners got small amount only in mining , what amount are to them.? Also if the bitcoin have a taxed im sure that many of us will shock and probably its an reason to quit in the bitcoin. Unless if the government what have an intent of supporting in the bitcoin and in the miners i hope that the government help us.

[conceivedspoon2]

There's need for government to invest into bitcoin in the area of the mining. Instead of government taxing the bitcoin users, they should just remove little charges just as every bank also gave small charges on transactions. There is transaction fees on bitcoin, so it's not bad if the government make little charges on them.