Should we pay taxes on Bitcoin?

[BeGoods]

i think we needn't pay tax,no country manager bitcoin,why we have to pay tax?

If bitcoin is consider the alternative of fiat then its just fair to support the govt by paying these taxes if required but if no requirements of such exist then no need to pay the tax.

Yeah that may be done but for now there are not many countries that apply this in their country, many countries still have not chosen the option to provide legitimacy and legalization to the crypto, so for now we do not need to pay taxes on anyone, because the system itself has not created yet..

[Kingofbitcoin12345]

I’m willing to pay my taxes and wanted to help my government to pursue projects financed by it for the needy,, but with all this corruption issue and priorities of each officials for financing weapons for wars is a big disappointment that changed my entire perspective towards fairness..

What is legal might not be right all the time and that’s make this government vesus cryptocurrency revolution started..

[millgates]

And what did the government do to claim the tax on the crypto currency? Maybe they made her or lowered the cost of transactions? Or maybe they insured us from stealing the crypto currency? NO! That's why taxes should not be!

It's hard to track bitcoin, but there are some regulations that aplied for this, some exchanges site ask their customers to complete KYC process. But still, people can use bitcoin anonymously in some place that is ilegal.

[burnchan]

Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.

If our government requires us to pay Bitcoin tax then, by virtue of no choice we should pay tax.  Else,  we might pay a serious penalty. Most of us are bitter with paying tax due to the corrupt government.  But I think,  we just have to do our responsibility. Let us just think that we are helping the others through paying taxes.

[marielbeckham]

My answer is yes, we should do this.

[sheenshane]

Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.

If our government requires us to pay Bitcoin tax then, by virtue of no choice we should pay tax.  Else,  we might pay a serious penalty. Most of us are bitter with paying tax due to the corrupt government.  But I think,  we just have to do our responsibility. Let us just think that we are helping the others through paying taxes.

That's a good perception when you paying tax to your country and think that you contributed a little for the sake of economic growth in which country you are. If your country needs to pay tax on bitcoin then pay that is a small amount that no need to run you can pay your tax.
But luckily here in our country, my government did not impose any law regarding bitcoin so we don't need to pay tax on it we can pay tax when we buy goods.

[Eleven86]

Now there are so many countries accept bitcoin as legal but still they didnt announce tax for bitcoin. Some countries legalize bitcoin with some rules and regulations. At the same time we have to insists to pay tax means it is well and good. Paying tax is good for us. If you go to local exchange to change bitcoin to local fiat means there they put some tax for transaction. Because that is government rules only. Pyaing tax is good for all in and future.

[Taki]

In sooner time we will must to pay taxes from crypto profit, just let to the government to organize it. We pay taxes from or salaries and from general profit by the law, so crypto profit is also going to be counted as financial profit and we will be pushed to taxation.

[Chaki]

As today let's enjoy the moments wherein we don't have the right not to pay tax since my country is now building a law regarding it, so in the future we are required to pay now... But for now let's enjoys the free tax moment...

[crzy]

In sooner time we will must to pay taxes from crypto profit, just let to the government to organize it. We pay taxes from or salaries and from general profit by the law, so crypto profit is also going to be counted as financial profit and we will be pushed to taxation.

Time will come for this but for now, let’s just enjoy our tax free income from cryptocurrency, well government will find a hard way to monitor this market but I think taxation is very important. If its already taxable on your place you cano’t do anything about it but to follow the law.

[Kingofbitcoin12345]

I’m willing to pay my taxes and wanted to help my government to pursue projects financed by it for the needy,, but with all this corruption issue and priorities of each officials for financing weapons for wars is a big disappointment that changed my entire perspective towards fairness..

What is legal might not be right all the time and that’s make this government vesus cryptocurrency revolution started..

it's sad to say but you're right bud. We cant do anything more about that issue. We are just low profile person that sometimes being manipulated by great investors and players in the market and government.

Only we can do is to be more knowledgeable about the events and issues and as possible we can share thoughts here and to other social media sites to spread awareness and ideas how to at least solve those problems in our government.  

True we can’t do it alone without someone who is highly influential that will help us to face and resolved this problem on our own.. A revolution against our government has been started a long time ago even before the existence of cryptocurrency,, but it doesn’t go stronger because the people in our generation doesn’t want civil wars.. We do wanted peace..

Then the government is abusing it for they think we don’t do foolish things..

[Leyss]

To pay or not to pay taxes on profits in the Crypto currency is your personal business. Only it is necessary to take into account that evasion from payment of taxes practically in all countries is considered a serious crime. If you think that you can remain unidentified for the application of punishment, you can risk your freedom. Payment of taxes in general is necessary for the normal development of the state and the financing of budget structures and social programs. Without this, we will return to the world of chaos and the right of the strong.

[quality.crypto]

My government has not given any circular to pay taxes on Bitcoin transactions but still, I am paying taxes because once they legalised the first question from the government is pay taxes on time. So it is always good to pay taxes even though government not legalised bitcoin.

[Shame_Game]

Personally, I'm not going to pay any taxes from bitcoin transactions. Thanks to the decentralized bitcoin system, the tax service will have virtually no evidence that the transfer was made by you.

[jonaire99]

It will depend on a country you are presently residing. If your country had a law that requires you to pay tax in every bitcoin transaction then you must obey it for it is the duty of every citizen to do it according to their income. The tax that will come from cryptocurrency transactions may help a lot of people in your country.

[maarx]

Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.

Yah. I have come across so many threads stating that why can't we have banks tied up with crypto currencies. Crypto currencies were invented to eradicate the banking system and bring peer to peer transactions with more secured Blockchain system. Implying taxes for crypto earnings is the other same idea insisted i would say. When countries do not accept bitcoin or any Crypto currencies, why should tax be paid to them? Lets not merge fiat system into Crypto.

[Vannie12]

Taxation is still a broad thing to talk about. As I have observed, there are lot of perspective towards it negatively and positively.
People behind bitcoin creation made cryptocurrencies for financial freedom right? What could you buy with cryptos before?- not much right?
Cryptos are directly equivalent to money, they have fiat value and fiat is run by government so basically when you buy fiat, you need to pay taxes.
We can not say that all of the taxes are used in financing themselves, Everything in a community can be associated with taxes. If we want a society that can give possibilities or changes, then we should help by paying taxes. We can not live on our own here. We should see what they do for us than what they have done wrong. Would it be a better place to live in.

I am willing to pay taxes though it is not yet properly in process.

[YTBitcoin]

I’m willing to pay my taxes and wanted to help my government to pursue projects financed by it for the needy,, but with all this corruption issue and priorities of each officials for financing weapons for wars is a big disappointment that changed my entire perspective towards fairness..

What is legal might not be right all the time and that’s make this government vesus cryptocurrency revolution started..

The issue is much about the legalization as if government will not legalize the asset in which we have our money then why they will ask their share in that assets of us. If they will want for tax in bitcoin then they will need to legalize bitcoin first as if it will not relate to government then they do not have right to ask for tax on bitcoin.

[lokanot0]

Government has no right to ask us for taxes, they only have the right to do so when they have regularize the use of it on its State. When we can see businesses/shop in our neighborhood/towns taking in payment through bitcoin, then at that time, the government may ask for taxes through that transaction.

[KorakPawon]

I’m willing to pay my taxes and wanted to help my government to pursue projects financed by it for the needy,, but with all this corruption issue and priorities of each officials for financing weapons for wars is a big disappointment that changed my entire perspective towards fairness..

What is legal might not be right all the time and that’s make this government vesus cryptocurrency revolution started..

whether or not the payment depends on where our country lives and depends on each country because there is a state that regulates to be obliged to pay taxes for its citizens who use bitcoin and adan countries that do not regulate these obligations.