Bitcoin can be taxed, How will that affect the investment?

[Moneypham5]

Bitcoin, the largest and most well-known digital currency, operates under anonymity but can track traces as it has electronic diaries that track every transaction. Although all buyer and seller information is a string of letters and numbers, there is technology available to track and capture illegal bitcoins.
BTCBTCBTC

[cpkozak]

The US Department of Taxation rules Bitcoin as a virtual asset instead of a formal currency.
Any transaction using Bitcoin will be taxed on the basis of the tax rules applicable to the asset. This means Bitcoin related transactions must be fully reported to the Internal Revenue Service for tax administration.
US taxpayers selling Bit[Suspicious link removed]ds must add the value Bitcoin receives to the annual income tax return. This value is calculated at the exchange rate at the time the taxpayer receives the payment, or at the time of printing the invoice.
If Bitcoin is stored in the form of capital (similar to stocks, bonds, and other investment assets), US taxpayers must report full profit or loss.

[CNY dasd]

I think taxation is a good thing to show that bitcoin is a legitimate asset, not an illegal one, which will make it easier for more investors to join cryptocurrencies. Second, the various exchanges can be regulated, though taxation will be a good thing to show that bitcoin is a illegal one, which will make it easier for more investors to join cryptocurrencies. Second, the various Although the taxation will reduce the returns to investors, it will also be able to protect some basic rights and interests. However, some basic rights and interests can be better protected.

[TimtheYoutuber]

Historically the top cryptocurrencys have had insane returns, so I dont think their is a problem paying taxes. Will people lie about cryptocurrency earnings? Of course, will people get caught? Yes.

Pay your taxes, money is just money.

[jseverson]

Well the obvious answer would be that you would have less take-home profit, but are you asking whether that would impact incoming investments?

I honestly don't think it will stop people from investing. Taxes usually follow a bracketing system, so you only really pay a large percentage if you earned gargantuan amounts. For as long as governments don't craft a special "crypto tax" where you have to pay a higher amount than you normally would for crypto-related profits, most people should find taxation generally reasonable.

It kind of has the same logic as "why would I work a high paying job if I'm paying a massive amount in taxes? Might as well work a job with low pay."

[blinchain]

I think it is technically very difficult to achieve. I even think it might be taxed on the exchange to achieve the purpose of taxation. Of course, I do not deny that taxation. I have always believed that the legalization of cryptocurrencies is good for us. Formal investors are more reasonable and fair.

[Rabblerah112]

The CFTC is involved in the Tether case, so I'm thinking the government will end up taxing them as commodities, which is actually great.  I mean, its going to be almost impossible to enforce taxes if you do business on non USA exchanges but they'll try.

If cryptos are taxed as commodities, theyll be subjected to much lower tax rates than income tax rates.

[Vin183~]

in my opinion, the existence of a tax on bitcoin makes the legality of bitcoin. So, not many people do not know about bitcoin that think bitcoin is illegal.

[gamechain]

The CFTC is involved in the Tether case, so I'm thinking the government will end up taxing them as commodities, which is actually great.  I mean, its going to be almost impossible to enforce taxes if you do business on non USA exchanges but they'll try.

If cryptos are taxed as commodities, theyll be subjected to much lower tax rates than income tax rates.

Encryption monetary income may cause up to 20% - 30% of the tax, but it depends on whether the digital currency can be regarded as a kind of business income or capital income.

[Buttercup123]

In our country,  bitcoin is regulated by our government, so it is somewhat a form of taxation. The price of selling bitcoin is just right,  meaning no added fees by the government. While buying one bitcoin with our fiat is larger tha selling one in terms of price.
 Example:
Selling 1 btc = 500 000 in terms of our fiat.
Buying 1 btc = 700 000 in terms of our fiat.

The gap between selling and buying goes to the taxed payed by the converter to our government. In short, our government is taxing the converter of btc to our fiat and that taxation determines the price of buying bitcoin.

[aeternus]

Historically the top cryptocurrencys have had insane returns, so I dont think their is a problem paying taxes. Will people lie about cryptocurrency earnings? Of course, will people get caught? Yes.

Pay your taxes, money is just money.

I do not know why some bitcoin holders will want to get in trouble with the tax authorities especially when their earnings are great, I know that some are against taxes as a matter of principle and I respect that but when the choices are to enjoy your money and be without any kind of worry or to always be on your toes worried about being caught by the tax authorities, the choice is easy pay your taxes.

[CryptoBry]

I think taxation is a good thing to show that bitcoin is a legitimate asset, not an illegal one, which will make it easier for more investors to join cryptocurrencies. Second, the various exchanges can be regulated, though taxation will be a good thing to show that bitcoin is a illegal one, which will make it easier for more investors to join cryptocurrencies. Second, the various Although the taxation will reduce the returns to investors, it will also be able to protect some basic rights and interests. However, some basic rights and interests can be better protected.

Ideally, this is what can be acceptable. There is a need to make a compromise here with the government which is bent on regulating something that is relatively new and that it is finding a little hard to understand. Everything then will boils down to taxation -- or what the government can get from every transactions done with Bitcoin. For as long as the tax rate is not really that burdensome, we have no choice but to pay our dues just like doing any other type of business online or offline. Tax is something so hard to get away with as getting entangled with the law is something we should avoid at all cost. In return, we should be demanding some rights and privileges as taxpayers.

[Achazia brigit]

Hi, buddies

i think it will affected  to bitcoin prices..

i think we couldn't buy bitcoin as much as wishes

[buhuchain]

Bitcoin taxation should not affect the investment, after all, but also increase investment, after all, the tax shows that the country has accepted bitcoin transactions.

[trickyriky]

I think it is technically very difficult to achieve. I even think it might be taxed on the exchange to achieve the purpose of taxation. Of course, I do not deny that taxation. I have always believed that the legalization of cryptocurrencies is good for us. Formal investors are more reasonable and fair.

I also cannot imagine and realize how it can be done. By the way, even businessmen that deal with fiat money manage to avoid taxes. Another question: why should traders and investors pay taxes for crypto that is not something material?

[rampage101]

Now in every country everything is taxed, so wherever you work, you will have to pay it. A bitcoin - it's the same job as the rest, just focused on the Internet. I do not think that this can affect the amount and size of investments.

[Shirin16]

Bitcoin, the largest and most well-known digital currency, operates under anonymity but can track traces as it has electronic diaries that track every transaction. Although all buyer and seller information is a string of letters and numbers, there is technology available to track and capture illegal bitcoins.
BTCBTCBTC

and this is a great innovation, I deeply regret the country that does not want to participate and support this technology.
actually if we all support this technology, I think this technology will develop and very good if applied to our life.
and I do not think it would be a problem if bitcoin would be taxed. because it may be natural as a digital currency if it is inaugurated.

[Urbinklin]

I do not mind paying taxes, because I think it's very good. But my country's government wants to set a limit on the number of currencies. That's what I think is absolutely unacceptable, since such restrictions will negatively affect the small investors of my country, including me. And on bitcoin.

[bitvelk]

At the very least, taxation of bitcoin means acceptance by the state in the country. This is much better than the ban, since it is better to pay for the use of bitcoin than not to do it at all.

[cmaxwell]

i dont know of nigeria under the new tax law, but i know bitcoin is taxable in united states of America.