Government put on tax on bitcoin

[Mumbeeptind1963]

From goverment side it is a only reasonable reason  to get control of this business coz it is so big community of huge amount of money,

For me that's not fair because it can cause of controlling to bitcoin if the government put tax on it. Also I'm pretty sure that they use for money because they know in bitcoin they can have a lot of money. And if that happen it means bitcoin that moment is control by the government

[weblaraveluser]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

If government will manipulate the value of bitcoins then there are investors that will really hate the policy of government and will lead to a lot of problem. One of the good thing about bitcoins is the taxless salary which are coming from the ico's.

[tramadols]

currently in my country, there is no tax for bitcoin users. so I do not know what to answer. but in my opinion, however there will always be a side profit and loss. yes that's how i guess

[andiko]

The only question is how did the state will determine the presence of a cryptocurrency in a person if everything is anonymous?

[BeEvil]

Well, yes, yes, as soon as appears  the question of big money - appears the government. And either begins a meaningless war, like a war on drugs, or tries to put tax on it.

[RomertL]

It is better to put tax on cryptocurrency transaction than forbit them. But I don't understand how government is going to wach for this

[Sadnu]

I do not know if bitcoin pays tax but I know it does not pay tax. but I ask others if there is a bitcoin tax. Though Bitcoin is yet to be officially recognized in the country, the Reserve Bank of India has on three separate occasions put out risk warnings against investing in virtual currencies. In simple terms, there is no regulator when it comes to the status of cryptocurrencies in India. So, are the gains from Bitcoin taxable?.

[SummonKing2]

Maybe there is a tax that pays bitcoin but I do not know how much it is in a bun. but according to my search. Accordingly these can be classified as long-term when held for more than 3 years and short-term when held for less than 3 years. In case of long-term gains indexation benefit must be allowed and gains taxed at 20 per cent. Short term gains will be taxed as per the applicable income tax slab.

[Zabrielle]

Oh my, if the government imposed a taxes on bitcoin then for sure the profit will be greately affected. People enjoyed working on bitcoin because of bigger profit they get specially if  the the currency is high. If it taxed our profit will decreased. I heard big amount of taxes are being imposed in US.  In my country it depends with how much you are earnibg and if you are head of the family and how many kids you have. I think its like that in all over the world. I just dont know how will it work in bitcoin way. Bitcoin is different currency and then before we can use it we need to convert in our currency since we cant use bitcoin to buy something here in my country yet. We have to convert it to cash first. I guess thats the reason why the government is not taxing bitcoin yet because not all country accept bitcoin as payment. Bitcoin will work in online transaction so far and only few countries accept this as of the moment.

[cmacwiz]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

My opinion is quite different from other. I think BTC should be taxed because it would be taxed in only one condition when government would centralize it. Although I know if BTC is taxed that same will be taken from our profit only but according to me the nation security comes first because once BTC would be taxed then government take control over it and the criminal activities engaged with BTC  would be stopped, so in my opinion it should be taxed, I will be kk with little less profit.

[Joemzz31]

Many of the government want to get a tax in bitcoin because they know that they will get higher tax in bitcoin rather than the other bussiness.

[supercanada1]

There is a high tendency of the government placing tax on bitcoin in the future but it should not be big deal as long as it doesn't bring issues between us and the government, though by then I don't know what bitcoin would have become it terms of satisfying people. All I wish before then is to have made mine own goodies out of it.

How sure it is that government will take this kind a step but for me bitcoin will not gonna be affect because of this. I hope government will not take any kind of interference in usage of bitcoin today. Today all those investors are being happy for it because this will make price of bitcoin to increase fast and highly so better use bitcoin as saving only trying to pay all tax on time if government will fix any kind of tax relates to bitcoin.

[Predator25]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

If the government makes a tax on Bitcoin of course this will make a little panic for Bitcoin users because now we all know that one of the reasons Bitcoin users is to avoid taxes if using real cash. but until now I still believe that the government will not withdraw taxes from Bitcoin because of the complicated calculation system and also the anonymously Bitcoin nature that makes bitcoin very keep secret users. there must be strong regulation as well as a very systematic understanding to be able to adopt taxes in the Bitcoin system. probably the easiest implementation can be applied to an exchange so anyone who withdraw bitcoin to real cash then that will be applied tax.

Yes they can actually do that. They can put tax on your earnings since you cant get your money without banks and that is their strategy when they really recognized bitcoin and legalizing it. The worst part is that when the government will put high peecent of tax to those bounty hunters, traders and investors here.

[Snail2]

The only viable way to tax transactions would be attaching taxes at the miners. I'm just curios how an European or even the US government want to persuade miners outside of their jurisdiction to use their software what doing the taxation? Also if I'm a Hungarian citizen on what grounds let's say the US or the Chinese govt would want to collect tax from me?

[bitorama]

I think all the governments will put tax on bitcoin soon or later

[daarul50]

If many governments are imposing a tax on every bitcoin transaction then what will happen may be the user's object because in addition to the high transaction costs they are now required to pay taxes as well. But, if a country is already able to use bitcoin for any shopping it may be considered fair by bitcoin users.

[cryptoheroin]

BTC transactions will be higher than what we have today,fortunately that wont happen because tx fees are based on blockchain,government cant regulate tx prices easily.

[anitaraymonds]

Any thing government can not control they will surely kill it. If government enact tax law on bitcoin, it will affect the profits members normally makes. A  lot of members will lose interest in the business. But will the government succeed how will the have access to the blockchain to calculate what has happened for a period.

[A Fahriz Thiago]

If the goverment put tax to bitcoin transaction, what will the consequences?

The profit will decrease and attraction also decrease in my opinion. How about yours

If indeed it will happen maybe the appeal of bitcoin will go down but I think it's good also if the transaction on bitcoint is taxed, so bitcoin can be legalized in every country. Hehehe

[Chikitita2004]

If the government place taxes on bitcoin it will be a big factor to those who engage in bitcoin. Due to high fee and taxes they might back out engaging in cryptocurrency.

Thinking the same here. People will lose their appetite/interests in bitcoin and bitcoin popularity will degrade. Bitcoin price will surely drop and there will be no use to get involved. I really hope it will not happen. If it does both the community and the governments are not going to benefit. High transaction fee and taxes, so there will be no more transactions and there will be no more taxes for the government.