Bitcoin holders will have to pay their tax?

[QuadeBarrier]

They do have to pay their taxes, when it's converted to fiat. And that's just fine.

[btcjocan]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

no need to worry about it. Because the government does not know exactly who owns the bitcoin and how much they own. Bitcoin is completely transparent with the transaction, but it is also completely anonymous on the owner. It's like a double-edged sword.

That's right no need to worry, nothing to worry because government connot trace our transaction. Bitcoin is secure and we are anonymous, there's nothing more files it's just user name and private key.

[Grayy]

Government taking taxes from bitcoin transactions might even be a blessing in disguise; people who are afraid to join the bitcoin community will have the guts to join because governments might be taking taxes, and thus legalizing bitcoin indirectly.

[putrii]

of course not, if there is a place that issues taxes to hold the bitcoin better you leave the place and move it to another wallet that proves to be very free and secure without paying taxes, you can store it in blockchain.com which is directly stored by bitcoin technology .

[rainezerr]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

Government will be receiving a lot of complains because the reason why cryptocurrency is very profitable is because holders is not required to pay taxes but we are always paying transaction fee's for the market so i think that it will already compensate the tax.

[BitcoinMarketer39]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

In my own opinion, people are using cryptocurrency because they want another way to have income and if government will be planning to to manipulate the price of cryptocurrency then people will fight back just like the war on drugs.

[Flor1982]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

There is nothing wrong with the Bitcoin tax as long as we are protected of the law from scam, stealing and some protections that we will need the help of the government. Except that our income will going to reduce due to tax but still thats fine because Bitcoin exist to help the economy of every nation if they will support it.

[gambitcoin53]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

if the govt can identify the bitcoin holders, lol. even if they tried to track down a single user, it will take them months or years, what more if they tried to track millions of holders, do you think this will be fine? a govt changes every election period and views of each govt is sometimes different from their predecessor, maybe at present, their govt are active in tracking bitcoin users, what happens after the term if those govt. it will be very difficult for them to centralized bitcoin.

[Keyboard PC]

it should not need to be done even unnecessarily, taxes for those who hold bitcoin in the wallet should not exist, if there is wallet like that it's better you move the wallet just because there are still many purses that provide very high security and not in charge at all for example https://blockchain.info/

[Deathgamer]

I dont think the government can do that because bitcoin is not under there control and they cant track every bitcoiners in the world to have pay their tax and no one will pay it because bitcoin is not under the government so they dont have the right to ask for a tax on it the reason why some countries ban bitcoin.

[squog]

I don't think so. For one thing, taxing crypto currency holders means that they will be protected by laws from fraud snd all that nasty stuff. Regulation maybe the key to having crypto currencies accepted in the country and then more investors will pitch in and awareness will be an all time high to those in thst country.

[Kurokyy]

I dont think the government can do that because bitcoin is not under there control and they cant track every bitcoiners in the world to have pay their tax and no one will pay it because bitcoin is not under the government so they dont have the right to ask for a tax on it the reason why some countries ban bitcoin.

Yes you are right, government cant do anything about the cryptocurrency because people are choosing to use bitcoins due to its value that keeps on increasing depending on the volatility of the market and it was non taxable because they will not be able to manipulate the block chain.

[ov3rflow9x]

 I think you are right, because if people would be forced to pay huge taxes, those who earn not as many as others, would literally quit business, because of small earnings that they would have after paying taxes.

[$anounimus$]

very clearly it really is not necessary because storing an asset in bitcoin does not have to pay the bitcoin tax will only be tough if you do the shipping transaction it just cut off from transaction fee not from tax.

[MiXxe]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

In my own opinion, people are using cryptocurrency because they want another way to have income and if government will be planning to to manipulate the price of cryptocurrency then people will fight back just like the war on drugs.

This is why I don't want any cryptocurrecny to be legalized because for sure, bitcoin will just be manipulated by the government. The thing is that, they want to partake from the income we have from investing in the cryptocurrency. Look how the government make ways to earn and just corrupt it soon. Not thinking of the poorest among poor people who are sacrificing right now.

[Altcoins enthusiast]

Bitcoin as a decentralized cryptocurrency also need to be tax for governments to be able to regulate it.  If bitcoin is not regulated we are going to have alot of problems in future as a lot of criminals activities are being recorded every day.  I think we just need to allow governments tax cryptocurrencies.

[Roboabhishek]

No one wants to give taxes especially in bitcoins but unfortunately if it happens we have to give taxes to government we have to obey the law if you refused it they'll send you to jail better to accept.

~But as far as I know it's anonymous hard to trace government can't reach really trace everything so it might possible that people don't pay taxes.
Also, Paying tax for earing through bitcoin is the worst thing I've ever heard

There's a good discussion going on Quora about this "https://www.quora.com/Is-Bitcoin-income-taxable-in-India"

Not sure if it applies to every country.

[foxbat]

bitcoin holders in any country as per their country rules they should pay their taxes on the time it is good for cryptocurrency industry and for country economy paying on times tax will bring more ease in doing business

This only happens when a government accepts bitcoin and sees it as a commodity. And now I do not know about any such government. this is ridiculous!

[Norihiro]

This is a very difficult topic, but I think that they should do that, but tax should be on the level of 1-3%, otherwise it's too much.

[el kaka22]

They do have to pay their taxes, when it's converted to fiat. And that's just fine.

Yeah, as that is the idea of why capital gain tax is somehow going to be the norm of the day as time goes on. I do not expect this to be a problem for anyone as long as the government is not using that tax levy to want to be an issue to those who are looking forward to storing their wealth in cryptocurrency and as long as they take it out in fiat like you said, will have to be subject to paying of such tax.

What I expect is that governments should at least try their best to not put huge sum on tax as that could even end up causing possible tax evasion but should be at least lenient enough to make things work.