Transaction fees are a tax on BTC

[irenegaming]

well i don't think Transaction fees can be considered as tax, the whole taxation idea is to to deduct a portion of ones income as a levy to the central governing institution, transaction free is however a service fee,the miners have to pay for using the platform. two different cases

[Noelbetty12]

Yes, they are like taxes. But I haven't heard anyone talking about taxes imposed by the government. If the government will probably take a part of the bitcoin and altcoin sales then it could start another big impact on the different ICOs and bounties. I don't think it might be a big help aside from getting the right security for each transactions being made.

[jeanne513lefe]

Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes.

This is a way of viewing transaction cost of course. However, I agree with you and honestly think it is necessary. You can't expect the miners to pack your deal for you without getting any rewards, it's basically asking people to work for you for free. Thus, I don't get why people hate to pay the transaction fee.

[damrianto]

this cost to provide incentives to the miners who want to make transactions, because the larger the size for the transaction then the greater the need of energy, here also can be used as the cost of other administrsiya. so we can not get out of all costs, and also this cost is called with tax for btc.

[Crytptohack]

I agree that you can see the transaction fee as a tax. It was at it's highest level on Dec 22nd when the mempool was at it's peak. The average fee was around $55 USD's and the time it took to execute a transaction was quite long.

BTC now has segwit and the lightning network to support these issues. Fee's have gone way down along with the mempool.

I think BTC will become more of a long term hodL asset like owning gold. You essentially have it for the long term and do not transact (unless you need to) or purchase items with it. If you used $3k worth on expedia for a trip when BTC was 10k, a year from now it may be 15k and you would have lost out on the (potential) gains.

[cschy01]

Actually in my personal opinion transaction fee and Tax both is not same.Those are totally difficult from each other.Tax is an amount of money that you have to pay to the government so that it can pay for public service and there are no Tax option in bitcoin marketing system.On the other hand transaction fee is the amount of money which you have to pay for transaction your currency and this rule is available in bitcoin marketing system.Not only for bitcoin but also transaction fee is applicable for all online currency transfer system.

[Carmen01]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

actually even we need to pay tax still it's ok so that's not a problem think the transaction here all over the world with only low fee in crypto not like other that we need a lot of things to do before transaction and the tax is so big,i think also here have volatile price so at first here we need to pay in that kind of situation so it's not a problem and actually the fees here are only 780 satoshi for 0.005 btc so that's low

[Washball]

Whether miners deserve a fee or not and whether lightning network will diminish transaction fees and waiting times, there's something far worse than all this. We'll soon have worldwide regulations, which means governments will tax cryptocurrency transactions and cryptocurrencies will no longer be decentralized.

[belford11]

the authorities like to be subordinated to ((and this terrifies me terribly, for which they pay taxes, for what we live badly

[andreijoaquin]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

In my perceptions transaction fees are not tax in bitcoin but rather a sort of payment for maintaining the system made by developers, of course those people behind block chain technology needs to receive enough compensation in providing bitcoin users a way to access and transfer their funds faster and reliable.

[just_Alice]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

Right now tx fees aren't that big and, unlike taxes, which are established by the government aren't established by anyone, it depends on average amount of money people are paying during certain period, miners don't create tx fees manually.

[Aleksandr_ov]

Yeah, I think Bitcoin will start to lose popularity when the commission for the transfer will be equal to the price of the car)) And taxes are thereby getting more and more! this is not the case .... ((

[SiDtHeBeSt]

Yeah, exactly. Transaction fees are like a tax which is being paid to the miners who carry out our transactions. People never want to pay transaction fees, but they don't understand that without transaction fees a transaction cannot be conducted. Why would people do cryptocurrency mining if they don't get anything from it?

[Doge dealer]

no one should have an issue with miners because they are the lifeblood of this ecosystem , as you said taxes are inevitable even if its at the point of conversion to fiat or vise versa .I think this is another reason why the countries who have instituted taxes make them so high because at the end of the day billions of dollars in crypto are moving around and they are not collecting any taxes from it , whereas had these monies been in fiat money they would be collecting  taxes on each transaction, so as a result of this situation they simply target the persons at the point of re-entry into the fiat system .i would differ because in my opinion transaction fees are the salaries for the miners , mining is integral to our system.

[fasdorcas]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

No one wishes to pay taxes as the money they have earned in through hard work, but in order for the balance to be maintained and the development to continue one has to pay taxes. Taxes indeed are inevitable. Transactions fees go to the miner, to encourage the mining of a specific crypto and to promote people to mine it and also for the hard work they do in order to confirm transactions, so they deserve it.

We also pay taxes on crypto exchanges, just the difference is that money goes to the owner of the exchange and not miner. To own anything and to buy/sell/trade anything in the world, one is compelled to pay the taxes. There is no running away from it.

[nick_nick]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

i wouldnt agree, fees are not like taxes, and fees are not a tax on transactions.

We need computing power to complete our transactions, and those transactions
are grouped into a BLOCK. The miners provide a service to process those blocks
and without them its not going to happen.

Now, this thread could open a debate on "mining" and the seemingly centralised
form it has taken and the actual costs per transaction.

But in the end, there has to be miners and they aint going to process our
transactions for free.

I perfectly agree with your view. We should try and distinguish taxes from fees. Taxes are compulsory payments impose on goods and services; however fees are charges on a particular transactions.
We don't expect our transactions to be processed for free and thus shouldn't confuse fees with taxes

[cemburu]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

But after all, we must all comply with the specified taxes. As big as taxes, surely only what percentage. I think it is not too draining the money we have.

[xhoondilan]

I think taxen on transaction fees is fair enough because the miners wont be encourage to mine if there is no extra income on there work and all transaction usually have tax thats why we get used to it, also taxes makes the country grow and also with the business.

[richmcrich]

Actually in my personal opinion transaction fee and Tax both is not same.Those are totally difficult from each other.Tax is an amount of money that you have to pay to the government so that it can pay for public service and there are no Tax option in bitcoin marketing system.On the other hand transaction fee is the amount of money which you have to pay for transaction your currency and this rule is available in bitcoin marketing system.Not only for bitcoin but also transaction fee is applicable for all online currency transfer system.

Yes I agree on the fact that taxes and transaction fees both aren’t one and the same thing. Tax is the amount that is paid on one’s income i.e. tax is paid on the gains and transaction fees is inevitable whether one has gain or loss. Tax is a particular percentage that must be paid on the gains one has and transaction fees is amount that must be paid to miners in return for a transaction to get confirmed. Transaction fee is must whether it is in crypto market or fiat market, one must pay it no matter what.

Taxes are not needed to be paid if one has no gains. To balance the crypto market, paying of transaction fees to the miners is necessary as it is necessary to pay transaction fees to bank for continuation of its operations and provide its customers facilities.

[john_nautica]

Taxes, like death, are inevitable.  When they go up, people complain.  Txn fees are a form of tax on BTC that goes to the miners.  No-one wants to pay them but they have to.

the tax should always be applied to the miners, because we know the mining system relies on income from each transaction. so maybe at this time the fee is a natural thing and we can not refuse it.