Does Bitcoin need to be taxed?

[senin]

Any state has the right to tax any activity of its citizens, which brings a certain income. Since operations with the crypto currency are profitable for its owner, the state has the right to tax this activity with a tax. Many states already impose such a tax, including a country as loyal to the crypto-currency as Japan. Almost all countries in the near future will tax the activities related to the crypto currency.

[Coinky]

Just like Stocks and any other speculative investments, bitcoin is should also be taxed,on eh short terms gains

[NavI_027]

Yup! It could become a source of income but I think it doesn't need to be taxed. I disagree to its taxation not because of being a greedy person or whatsoever.

in my own perspective, bitcoin or any cryptocurrency shouldn't need to be taxed at all because if it has been taxed by our government, it seems that we're now permitting them to influence and control it which I (We) don't want to happen. Besides, where is the sense of decentralization if someone controls it, right?

[Blue2012]

I dont think it is a good idea that bitcoin be taxed, and used to be one of the source of funds in the community.  somehow it is a burden to all bitcoiners at some part nay be a deduction, but still it depends to ruling country if they would tax or not.

[Kingofbitcoin12345]

The question is not about bitcoin needed to be taxed but does the government badly want extra income for economic and financial stability.. I won’t be surprised it will always be the used reason of government officials to do such act and to oppress the investors and bitcoin users.. I hope that any regulation will be fairly be managed for both parties involved..

[ronnis.gomes]

Of course it does not have to be taxed. But the greed of some weak and oppressive governments will cause the BTC and other crypto investments to pay taxes in some way.

[thenameisjay]

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

Bitcoins does not need to be taxed. It's open-source. Literally, no one owns bitcoins. No government nor country has the authority to tax bitcoins because it is owned by everyone. I think the only thing the government can tax is the fiat money equivaleny when bitcoins are exchanged.

[Melit02]

I think there is no need to be taxed because Bitcoin is decentralized and it's an online currency.

[Deathgamer]

No, bitcoin doesnt need to be taxed. It has been operating for quite some time. It was indeed very succesful and has helped millions of people earned big. So why it has to be taxed if it has already been working for a lot of people and it is proven to be a blessing to a lot of people without taxes. If sooner it will be taxed then it would not be favorable to us.

[google98]

I am inclined to agree to charge me for my income from Bitcoin`s.
If the government approves this type of currency and does not consider it illegal.
So both sides will be happy

[jsmith85]

It depends on the country you live in and the rules set in place but i honestly feel like governments should not be involved in this and they should just stick to taxing conventional money.

[GiantArrow15]

If they are not taxing it right now then why should they taxed it in the future?

[CoinOnTheBeach]

in my opinion taxation is the key to btc wide application and regulations.
the governments just want to make sure they have got all the necessary tools to tax it, once it is done, btc will be legislated and regulated.

[ukw]

If you ask me, I would not pay taxes for that. Yet Still, governments want to earn from everything,
so sooner or later we have to pay for that.

[Ailmand]

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

I don't agree. Since your premise is the "need" of it being taxed. I think that there is no need to do that; however, what urges countries and governments to do that is the fact that the cryptocurrency market has been unfolding to be a big-earning market. At first, many are quite doubtful and negative about it, with some countries even threatening to ban any activity related to it. However, since the past year, there has been a great attention and focal shift to the cryptomarket that helped in introducing the advantages it can bring to the global trade and investment market scene. Having said, many countries are seizing the chance to strike while the iron is hot and try to impose taxes on it, or at least, in parts they can to add some revenue to their government to improve their local economies. As they say, the government in each country is the strongest and leading business entity, thus, finding ways to earn more is always their priority, which can be done through taxation.

[Sunnyyy]

I think there is no need to apply bitcoin tax. The difference between bitcoin and other currencies is that it is not taxed. That's good for bitcoin users. They do not have to pay any taxes when using bitcoin.

[KingOfWinterfell01]

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

It can't. The one regulating the income to be given to anyone is not under any government. So no one can tax the income you get from bitcoins. The only time bitcoin can be taxed is when the government or the country starts taxing the fiat conversions of bitcoins. That's the only time they can tax the conversion of bitcoins.

[onnz423]

I think if bitcoin is to be taxed, then there should also be tax breaks if people make a loss when exchanging currencies, that is a fair trade off.

You should be able to offset your losses against your profits in your tax return, this is how it works for most other industries.

 

[zoelhack]

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

if you mean to work using a laptop, if that is your intention then in taxes are your income and even then if you have submitted to the government or your account has a lot of limits then it can be in taxes

[bitcoinvamp]

Base from my recent post "Does bitcoin could be call a job?" I have read your opinions regarding to that. Doing these things is a form of earning money basically we have income. So does it need to be taxed? Because this is also a source of income, and we might call it as a job? 

I think until bitcoin is legal in the country and there is proper rules and restrictions applied on it tax is not needed, as the currency is not viewed as a source of income for the people in the country. But , if the country put some restrictions over it in order to check on the people about there income and its source then its obvious that the people of the country has to pay the tax . Still, bitcoin cannot be called as job as there is no fixed income it may come or it may not.