Bitcoin holders will have to pay their tax?

[Findingnemo]

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.

A government can implement tax only on products and assets and can not implement on a currency. We use different currencies and government has no right over our holding currencies because tax system is limited only to the assets a person has. Actually government is trying to have a grasp and influence on our cryptocurrencies because it is decentralized and they want to benefit by implementing tax over it but this is irrelevant because it is a currency and not asset.

In many countries Bitcoin and any other AltCoin have the same status of an asset. They already apply the same rules of assets on Crypto-Currencies too. However it's not so easy as Crypto-Currency is near to anonymity and it's hard to know who owns Bitcoins. Theoretically everyone has to pay a determined percentage of their profit made with Crypto-Currency to the government, but in case of loss the investor is playing by themself, the government doesn't share the loss...

Is the government wants to pay taxes then we will definitely pay for them it is my opinion because there any problem then help us from government will definitely needed for all the people we kind is not a standard one we will make can open investigate if there any and 11 things happen from bitcoin then government will accept the regulations and problem.

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[richminded]

I think they should, like a bank. The higher they have the higher the bitcoin also the taxes they have to pay, because bitcoin prices are getting higher each day.

Still depend on where the place you belong, in some country paying taxes is required but in my case we don’t need to. Banks will not collect taxes from you, only the government can impose that. Regulation is needed before the hodlers pay the tax.

[Wyne]

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.

I think the government cannot force bitcoin holders to pay taxes.  Why? Simply because of the concept of bitcoin's anonymity.  They cannot trace whose citizens have bitcoin and whose citizens who do not have.  If they will add tax in bitcoin transaction, it will really add burden to bitcoin holder additional to transaction fee we paid upon processing a transaction. But no matter how we complain If the government will really impose taxes, we have nothing to do but to follow.  If we cannot control it, then there must be proper and clear regulations to implement and follow.

[roadwell890]

if the government accepts tax payments using cryptocurrency as well, then this is not a problem for me
the tax may be only a few percent, while bitcoin, always up and down with a minimum of 10% change per month, I do not mind that

[breathlessz]

if the government accepts tax payments using cryptocurrency as well, then this is not a problem for me
the tax may be only a few percent, while bitcoin, always up and down with a minimum of 10% change per month, I do not mind that

but we see from the beginning of the year 2018 bitcoin prices plunged in, and i think this is fluctuating, it should be taxed under various conditions, but in my country the government has not legalized it, so it is difficult to regulate it

[Escf4]

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.

I think the government cannot force bitcoin holders to pay taxes.  Why? Simply because of the concept of bitcoin's anonymity.  They cannot trace whose citizens have bitcoin and whose citizens who do not have.  If they will add tax in bitcoin transaction, it will really add burden to bitcoin holder additional to transaction fee we paid upon processing a transaction. But no matter how we complain If the government will really impose taxes, we have nothing to do but to follow.  If we cannot control it, then there must be proper and clear regulations to implement and follow.

The government really can not force to impose tax to bitcoin holders ,because bitcoin is undeclared asset, because of its decentralized type of currency, if bitcoin holders wuold pay taxes then the cryptocurrency can be declared legit and be used anywhere in your country.

[acener]

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.

I think it will be hard for the government to implement it. It is hard for the government to put taxes since cryptocurrency alone is too hard for them to manipulate because it is anonymous. I believe that it would also be a heavy burden for us if we'll pay taxes.

[ohkkstaaahp]

Yes. I think so, BTC holders always pay for the transaction. And the middleman is the trading platform that will benefit the most. I think we make and keep the owners of trading floors.

[rolls89]

Bitcoin Tax is a term which has still not been defined in our country's Income Tax act. Though the learned Chartered Accountants say that you have to declare income from everything earned during the year may it be capital gains,Rental income,or profit from Bitcoins.An official response from many Govt's is still awaited as they have told Bank's to stay away from dealing in crypto's and converting them in fiat currency.

[bitbunnny]

This question is not unique for all countries and mainly depends how Bitcoin is or is not regulated in each particular country.
So far in most of the countries you don't have to pay tax on Bitcoin if you just keep it as an asset. But you do have to pay taxes on Bitcoin transactions or Bitcoin business if you have it.
I don't think that the regulation would be such that you have to pay taxes on Bitcoin holding and for tax authorities that would be hard to track and monitor so I think tax payment will remain only on Bitcoin traffic.

[Nyenyepogi]

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.

I think people our willing to pay tax to bitcoin because I think it is a right thing to do and but its hard to identify who are the bitcoin users I think the best thing to do is to put one agency where the user can convert their bitcoin into cash by that they can identify the identity of the users and government can put proper tax and I hope it will not lead to corruptions.

[rickadone]

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.

Yes, there would be nothing to worry about as long as the cryptocurrency space is being used for what it is and that is real life usage as a currency in which we can trade among ourselves without any possible monitoring from the government, but we sure know a lot of people will still want to use it as a store of wealth and value which would still make it subjected to tax when it comes to capital gains.

It would however play in different ways for every country since they are all going to have their own principles when it comes to taxation anyway.

[cherrymobile]

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.

I think it was going through my own. The only one who are respectable in many ways, the market. I even its own site for me but we should do that bitcoin is not a good thing. I even the most important than one that bitcoin and technology. The only thing for me, I believe that bitcoin and technology

[Semosuchi Tesongrato]

Weel, the crypto market is changeable, so no forecasts can be made.
At the moment, with a little attention, it is easy to escape the tax.
But in the future,we don't  known.
And we must be careful not to make mistakes that may be very expensive in the future.

[hahay]

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.

But I think if that would be true then I think the crypto market will be good and so will the future of crypto. By applying taxpayers to bitcoin holders, I'm sure too will more and more countries that support bitcoin and crypto will be even better in the future. To be honest, I do not mind if it will be applied, but with a note only for bitcoin holders who have a steady income each month, so our income with the miners can not be equally leveled.

[startselect]

Bitcoin holders already have to pay taxes, when they cash out. If you're saying paying taxes for Bitcoins that they haven't cashed, out, that would be dumb and most people would just keep it secret.

[Dbigfoot102]

I think this is possible. But I believe the one that should be taxed are those exchanges as they are the ones at the receiving end of the transactions and the miners as well. If the governement will impose taxes while just holding coins certainly none will be left to be part of the community after being afraid of loses.

[ThunderFive]

I think this is possible. But I believe the one that should be taxed are those exchanges as they are the ones at the receiving end of the transactions and the miners as well. If the governement will impose taxes while just holding coins certainly none will be left to be part of the community after being afraid of loses.

Every exchange is a registered company with the government. So they have to pay income tax as a normal company.

It's hard for the government to charge tax from crypto-traders since they are almost incognito

[manismanja]

it seems that it does not really matter because bitcoin holders do not always benefit if there is a wallet that levies taxes you better move the wallet which is free but has very high security.

[kingasf10]

at least they will accept the reality of Bitcoin. why governments do not collect tax from drug dealers because that is illegal & crime, but collecting taxes from bitcoin earning will make cryptocurrencies more legit. hope they collect tax in bitcoin it will allow more people to join.