Taxes and regulations

[masterchief001]

Do you think we should pay a bitcoin tax? Bitcoin managers should also have strict rules to ensure the safety of users. Bitcoin also means that it is legitimate income and a valuable asset.

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[Daniel91]

Do you think we should pay a bitcoin tax? Bitcoin managers should also have strict rules to ensure the safety of users. Bitcoin also means that it is legitimate income and a valuable asset.

You should check law in your country.
Every country have different laws and regulations.
For example, in my country, btc is not recognized as money or financial asset.
So, I don't need to pay bitcoin tax but if I echange my btc tax to my local money, than I have to pay tax.

[Jonsnowstark]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

This is because these states see crypto as an asset and not a currency. Not many people use it to buy and not many merchant accepts it as payment. That is the reason why these states are setting up a regaulation to tax crypto. Because all assets are to be taxed. That's why if we use bitcoin as a mode of payment, these will not be taxed.

[thrylos]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

Actually bitcoin could not be a property and will never be, if we dig it personally currency is about money not a property. I believe the very reason why they want bitcoin to be declare as property in order for them to get some tax from it. And I think government is driven by the force of greediness, thinking that if they can manage to get tax from it, this could be their another source of income.

[Eternu]

I think taxes are outdated because the authorities are no more using our taxes for the intended purpose.They are stealing our taxes to enrich themselves so I honestly do not support taxes now because of our leaders actions.The regulations on bitcoin is also against cryptocurrency which should change now.This is a free world so I do not understand why governments try to regulate bitcoin because they are afraid of losing taxes.

Taxes can't become outdated, because they are necessary for stability and quality of country. There are corrupted governments and we are all aware of that, if that is the case in your country... than next time try to vote for better leader I guess. But no matter how much we struggle, regulations are coming and honestly I think that they will improve some things for Crypto. Because when governments start to regulate crypto, it will mean that crypto is totally legal for using. And many of those people looked on crypto as something that is illegal or fake, they will change their view and many new users will join. There are other reasons why governments want to regulate crypto, and criminal is one of them. I guess that government's problem with regulating crypto is not as simple as we think.

[pallang]

It depends on the government what are the regulations and how to collect taxes in Bitcoin because transactions are done through internet and theres no tax to be collected unlike working on government and private establishment that they are oblige to pay their taxes.

[carlisle1]

Well it depends on how the government look at crypto, crypto was meant as currency but in reality more people are using it as assets, so when the government state crypto as asset it is not a wrong judgement, but I believe it should be treated as currency because the main purpose of crypto being created was as currency, for me taxing crypto is not a problem but the government should go easy on the tax percentage

That's right I do agree that it is good to have taxes because as far as I know taxes are usually use for enhancement and to fully development of our economy. In having taxation in crypto let just consider that we can also help others in that way and maybe all of the people connected to crypto will be much agree to this when the taxes that subjected to it will be reasonable for us so no one will objected to this.

Youre not only helping others when we pay taxes were helping the country and mybe the world..

I dont know why most of us here re threatened by the government issue to have pay their taxes..

But if were looking for the brightness of future well we must consider that tax will give opportunity to all the government to open their door to crypto and we all will benefits from this

[Tynovten_]

Even if that's not in propery category, it still struck by tax, produce tax. And this is that still being polemic in some countries because there's no rules yet or law that push on crypto. So the accepted is still pro and contra.

[EdenHazard]

I am not concerned about cryptocurrency users to pay taxes if the government does require users of cryptocurrency. But the question is, what is the function or contribution of government to cryptocurrency? If it only legalizes as a means of payment I think the cryptocurrency user does not want that.

I agree with you, the payment tool is not worth the tax. I have never heard that a person who has money is required to pay taxes unless he is through the process of working in one of the companies in that country. But cryptocurrency, we work in cryptocurrency, not through the government at all. I'll agree if the government requires paying taxes to users of cryptocurrency provided they have to give a positive contribution to cryptocurrency, that would be very fair.

[NiinaKub]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

very big problems with this right now, there is no any modern laws in our country about crypto, so i dont know do i need to pay taxes when i cash out,because  i cant really explain how i got this money. i hope crypto will be regulated for such problems, i can pay taxes but i should crearly know where and when

[kryptqnick]

To be honest I use crypto as an asset,  most of the times at least. But my opinion is that crypto should be used for paying and not holding. After all bitcoin is made to be currency and not asset. But governments will not accept crypto without taxes, so I guess taxes are maybe inevitable.

Most of people use crypto as an asset. They hold it or sell for real money in case they want to buy some goods. That's the problem, basically, that currencies do not often function the way they should. In fact, many altcoin projects are actually even far from being means of payment. I am talking about blockchain projects on recognition, mobile mining, music mining and stuff like that. They are just monetized blockchain start-ups, not currencies.
As for the govs, Switzerland is accepting cryptos and treats them as currencies, not assets, so they're not getting taxed.

[nsasuiteb]

Bitcoin is mostly seen as possession so it is taxed but I think in the future it will be rather seen as currency and there will be no taxation, it might be about its extreme gains against usd.

[mimienamphine]

I think taxes are outdated because the authorities are no more using our taxes for the intended purpose.They are stealing our taxes to enrich themselves so I honestly do not support taxes now because of our leaders actions.

Finally someone thinking like me. I am not against taxation, but not in the way we as tax payers only serve as cash cows for the government. I am seriously done with that -- the worst part is that people aren't subject to tax once, but their entire life when it concerns the same amount of money. It's pure theft when you are being taxed every year over the same amount of money. It's a system where if you don't do anything to up your fiat wealth, the constantly returning taxes will empty your bank account within a few decades, and that process speeds up significantly when you also calculate how much value your fiat wealth is losing year after year. In all the years that we as brave citizens paid out due taxes, has anything within your state or country actually improved? I only see everything go backwards instead of forwards....

            STEALING TAXPAYERS MONEY IS HUMAN RIGHT ABUSE
I know countries that have death trap as roads,schools under trees,graduate unemployment,extreme poverty etc but the politicians ride in the latest V8 landcrusers,long convoys ,stealing tax payers money and store in foreign accounts and do all sort of atrocities.When it is time for elections,they will promise the electorates heaven on earth just to get voted into office again.Politicians live in affluence and their neighbours (taxpayers) eat dry bread.It is high time we stop this tax matters.Our taxes are not used for developments anymore so no more taxes.Did God not create us equal? why then do we sit down and allow a few people to waste our hard earned money like we just picked the money on the street? Let us think and arise for this is a form of human right abuse.But the same politicians will preach against human right abuse.Not using tax payers money for the intended purpose is the highest form of human right abuse.To me they are like vampire drinking the blood of patriotic citizens who really desire development for their countries.

[andisuk]

Bitcoin is mostly seen as possession so it is taxed but I think in the future it will be rather seen as currency and there will be no taxation, it might be about its extreme gains against usd.

how can bitcoin be taxed?
and where does it happen? of course bitcoin will not be taxed because bitcoin is in fact not in the control by the tax authorities

[creeps]

Do you think we should pay a bitcoin tax? Bitcoin managers should also have strict rules to ensure the safety of users. Bitcoin also means that it is legitimate income and a valuable asset.

If its mandated with the law we have nothing to do but to follow. I see a good thing in taxation, I just hope that it will go to a right place. Regulations might be hard in cryptoworld, but that is ok for me instead of banning us from using cryptocurrency.

[lelangsabun]

still those problem always being a topic for every goverment in all country to regulation or some of that, in my country bitcoin are not accepted for a transaction with it, and just accepted for the investment or a valueable asset, and still doing some research to begin as a payment

[minersday]

There is nothing that we can do against it.

That is why i like regulations, it is safe and good for all of us, at least, it shows that our governments are taking in consideration that there are a lot of scams over it.

I prefer to have bitcoin regulated, but without taxes.

[dado7]

It's normal, Governments always wants to get its share. Government as an entity isn't much interested in anything else.
Now, how they spend this depends on:
1. Whether they collect money only to provide for themselves, as in my country, or:
2. They collect the money to provide for the benefit of the society, which should be the purpose of the Government.

In the latter case, I hold nothing against them taxing anything.

About your question - Bitcoin shouldn't be considered a property. But that is only my opinion.

But bitcoin is not a property it is just a currency so we need to consider it as a currency if we change the property of bitcoin for someone's benefit then bitcoin may not last long as it could be.Even if it consider it as a currency still governments will get benefit but still it is hard to categorize and hard to regulate so its still the governments and politicians need to make decisions in this case.

Actually, it's not a currency yet. "Cryptocurrency" is one of the most famous misnomers these days:
Since it is not currency, it needs to be put in some class and most of the governments decided to put it in the "property" class. All I can say for sure is that it can be considered an asset the same way as a stock is. That is why most of the coins out there are actually not the coins but tokens.

[Findingnemo]

It's normal, Governments always wants to get its share. Government as an entity isn't much interested in anything else.
Now, how they spend this depends on:
1. Whether they collect money only to provide for themselves, as in my country, or:
2. They collect the money to provide for the benefit of the society, which should be the purpose of the Government.

In the latter case, I hold nothing against them taxing anything.

About your question - Bitcoin shouldn't be considered a property. But that is only my opinion.

But bitcoin is not a property it is just a currency so we need to consider it as a currency if we change the property of bitcoin for someone's benefit then bitcoin may not last long as it could be.Even if it consider it as a currency still governments will get benefit but still it is hard to categorize and hard to regulate so its still the governments and politicians need to make decisions in this case.

Actually, it's not a currency yet. "Cryptocurrency" is one of the most famous misnomers these days:
Since it is not currency, it needs to be put in some class and most of the governments decided to put it in the "property" class. All I can say for sure is that it can be considered an asset the same way as a stock is. That is why most of the coins out there are actually not the coins but tokens.

Yes some taxes and regulations are very good to maintain the price and standard of bitcoin and other crypto currencies so my opinion is something is important to develop crypto currencies.

[ekalak manjeng]

I think about tax and regulatory issues there should be a discussion through ownership of bitcoin forums to find out the reasons why taxes and regulations should be applied.