Government put on tax on bitcoin

[Flance12]

They can but its not easy

[nicko122]

I'm sure every country would gladly take a tax for everything that people do. I think they have been thinking for a long time how to get their share with the cryptocurrencies, because it is convenient and profitable. Most likely the use of cryptocurrencies will be taxed.

[tyas pur]

I agree with you, the tax enforcement for every Bitcoin transaction will result in reduced profits from Bitcoin.
This will reduce the interest of people in starting Bitcoin because of course, the tax is not small considering the value of Bitcoin is high enough.
Hopefully, the government in applying the tax is just a discourse and if taxes are done do not cut the huge fees for Bitcoin users.

[paragon07]

It is possible, but its not easy to put an tax on bitcoin. Several procedure to do, because bitcoin is a decentralized currency that earn on social media.

[lissa brak]

For sure transaction fees will get higher compare today. And if that happen, one of the characteristics of Bitcoin will no longer apply which is lower transaction fees. I am thinking about on how could they implement such tax if it is not programmed in Bitcoin's platform.

[ipanks]

I think if we want cryptocurrency to be accepted in the country, we need to let the government make a regulation about crypto so they can do what they think they need to do and if they want to put a tax on every bitcoin user, then they need to think about how much the fee that we need to pay. maybe we can discuss with them and negotiate how much the fee that will not make us too difficult to pay the taxes.

[$anounimus$]

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 levies a tax from bitcoin players it seems to be silly and funny because bitcoin means its movement can already be controlled by the government and away from such government. that is very silly.

[Ethan Argu]

It that happen? I think the people would have decrease interest on bitcoin some will refuse and find some crypto that has no tax. It would be hard also especially for those people has first time in this industry.

[Catakou14]

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

I think there will be no consequences. For my point of view, if bitcoin will have a tax and it will benefit the community then it is a positive outcome which many people and the government will support cryptocurrency.

[PaulMittin]

It is likely that future (updates to) cryptocurrencies will make transactions even more difficult to link to an identity than is already the case right now. This will indeed be a daunting challenge for the IRS in the near future.

But making cryptocurrencies illegal would be very unwise: blockchain technology will prove indispensable for economic growth.

Maybe it will become necessary to completely rethink the current taxation system and come up with something radically different.

[masterchief001]

Some countries do not levy taxes on bitcoin because they do not accept bitcoin as a formal asset. However, there are also some countries in the world who view bitcoins as valuable assets such as Korea, Japan, Germany. Specifically, in Korea, a set of rules has been issued by Korea at the beginning. month to limit financial companies to invest extensively in pre-coding. South Korea also offers income taxation to investors in currency trading and trading.

[cryptobluemoon]

Collecting tax is best way to regulate bitcoin in their respective country bitcoin traders can welcome government collecting tax from trading so that they can trade bitcoin and pay back tax to their country development

[ir.yance]

if the government provides a bitcoin tax it will reduce the interest of someone to buy bitcoin because it will reduce profits. I think there will be many people who will complain and will fight against the government. I do not think it is necessary to provide a tax on bitcoin because the transaction cost of bitcoin already exists.

[Suguha]

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

You're right the profit of the bitcoin users will be lessen because 5% to 10% of the salaries of the bitcoin will be go to the hand if government. There is good and back effects of getting tax of government from the users, the good effects is they will use the money to build infrastractures like public hospitals, school, health center etc. but beside the good things there is always a bad, the bad effects is they will get the money and they use it to their own needs and leisure to fulfill their wants.

[Joyeeta]

Western county can put taxes on bitcoin, as they can track people bank account activity easily but in Asia it will be difficult to keep an eye as there are tons of way to hide your money.

[layoutph]

Government can put tax on Bitcoin withdrawals to fiat, but not on every trade between Bitcoin to alts. Crypto is so volatile. We cannot tell if the investment we are investing will come back with a profit or become loss from the trade. Instead of eyeing on crypto currency the government can put a higher tax on vices like cigarettes, beers, prostitution bars, gay bars.

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

[damrianto]

very influential once the government imposes a tax on bitcoin because any incoming funds will be reduced by discount .. but it also makes it difficult for the government to include taxes on this bitcoin, because bitcoin is not a medium of exchange only as a digital commodity ..

[sidebyside]

I agree with your opinion. The government will impose a tax up bitcoin as bitcoin is increasingly affecting the economy of their country. Certainly profits for investors will decrease but this will ensure that bitcoin will not die. We can continue to exploit and benefit from bitcoin

[noorammak]

I think that might happen but not now so do not worry about it. No government has imposed taxes on it. at least not in the shortest time.

[Ailmand]

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

That's pretty much inevitable now mate. Governments, as much as they are the entities that control their countries, are also business entities that search for ways to enrich themselves for the betterment of their people. And this market, being a legit and profitable one would not be out of their attention, especially now that it has been proven that, although it has its risks, it also has its pros that usually outweighs all the negative stuff surrounding it. So, since they have the power to control that, and imposing taxes being one of them, it surely will lead to that in the future.