Bitcoin holders will have to pay their tax?

[d0flaming0]

this issue seems to be more difficult than the other issues that had passed. i honestly canmot speak what to do, but honestly we can only find a way when the time comes, there are also conclusions that can be made when it is really crucial and as of now if there could be changes, nobody knows what is it, so in my point of view i will just let time do what it needs to do.

[crazycatwoman03]

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 government impose Bitcoin tax to the users its mean that Bitcoin investments is legal in the country in which the people are now protected from the scam people who use Bitcoin platform just to steal money from the people. I strongly believed that Bitcoin users will not reduce but it will increase more because people are more confident that every investments that will use Bitcoin platform is now 100% legit due to regulation policy.

Taxing bitcoin could surely help in increasing the trust of people in it because the government will recognize it as currency but I don't think that will have a big effect on making the investments more legit. Regulated or not, those who commit bad acts using cryptos will still be accused of crime because there are laws that covers online scamming.

Now that the population of bitcoin earners are growing, I do really think that the government are thinking of a way for us earners and holders to be taxed as well as those who have online businesses.

[pragna]

I think it is very difficult to identify a man that how many BTC he carring yet. You can say if any one want to buy a goods with BTC or sell btc directly he must have to give vat(Value added tax). But it only possible when a government body whole authorized BTC in his country and make free to buy and sell BTC. So when people will get access free fair they will give vat otherwise it is so tuff for a government to identify a BTC holder body.

[s0beit]

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 hope tax for cryptocurrencies would not be implemented because it will surely be a big loss for most of us users. However, there are still lots of transactions where we are deducted or being charge with fees and I think those fees are taxes already.

[lifetimebitcoins]

most of the counties are applying a tax for bitcoin holders collecting the tax and paying tax for cryptocurrencies will make the crypto industry legal and it is a positive sign

[tepakpak]

I think it does not matter for bitcoin users if the tax is fair, maybe with taxes also our country would be better for infrastructure. May be.

[beej]

I think taxing bitcoins will inevitably come, it’s how things will
probably end up. The fated outcome that’s bound to commonly
happen in this age, the price we pay for amelioration. With the
government’s interest and involvement with cryptocurrency we
can fairly expect that taxes and regulation will go together as
things progress more.

[Whosdaddy]

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 am not in the favor of paying tax over your Bitcoins because it is a currency and we all should keep in mind that it is not an asset and decentralized in nature while the government is considering it as asset and it is very clear that this does not belong to government. So they have no right to implement taxes over it and we should oppose it because it is just like to sleep in sunny day.

[kier010]

governments in my country regulate exchange site so every time we cash out it includes tax. there is money in bitcoin and it will not affect the community. those that against tax don't know where the tax goes and they they don't know want to know it either. they think only for themselves and not the other side.

[Nicol3]

I dont think it will get low and I really dont mind paying taxes if ever bitcoin holders are asked to pay taxes. We are all supposedly entitled to pay our taxes to contribute for the economy of a certain nation. It would be beneficial to everyone too so I dont thing there is anything wrong with it.

[jovs]

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.

Holding bitcoin does not mean that you are already gaining profit from it. I mean actual profit. You only get profit once you use it after converting it into cash. By the time you decided to purchase things or pay for services using bitcoin, it is already inclusive of tax, so you already given extra revenue to the government. Earning bitcoin from bounty is just the same. Once you diversify your investment, you are automatically being taxed depending on what items or certain things and asset you decided to buy out of bitcoin earning.

[cryptojac17]

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.

Holding bitcoin does not mean that you are already gaining profit from it. I mean actual profit. You only get profit once you use it after converting it into cash. By the time you decided to purchase things or pay for services using bitcoin, it is already inclusive of tax, so you already given extra revenue to the government. Earning bitcoin from bounty is just the same. Once you diversify your investment, you are automatically being taxed depending on what items or certain things and asset you decided to buy out of bitcoin earning.

Bitcoin will  become when it will become money or fiat, if it still a crypto we are just perceive it that  it has value, once it is in the exchanger in their taxation will take place the government has the control, 

[bitcoinrays]

Bitcoin are already being tax when trading and thats the law regarding trading in bitcoin and it is also our responsibility to pay our taxes monthly.

It is authentic and legal and can be run in state with all rules and regulations. These things aren’t understood by the politicians that they are continuously talking against it. But some countries know it better that what are the pros related to this crypto market and how it would be affecting them in future. But I don’t really understand why they aren’t up to any good legalizing thing.

[waqasniaz007]

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.

Well i think it will be worst saruation because if there is loss on bitcoin than it will be difficult satution for bitcoin holders, Bitcoin should be considered as asset.

[aencarnaci]

Yes, I pay taxes on BTC's holdings through transaction costs, which is a tax that the government of the trading floor collects. That is a major blow to taxation in the country.

That is quite right but think about the fact when the government of your country implements progressive taxation as well and you might need to pay taxes from the money you earn with Bitcoin irrespective of how much tax you pay by purchasing goods and services. That is actually something terrible and people are afraid of. The more you earn the more tax you pay.

[acheampong64]

That will in a way mean the country mow officially recognizes Bitcoin and accepts Bitcoin as a medium of payment, asset or whatever. This would then mean people are  going to trust in Crypto and many people will join.

[ov3rflow9x]

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 don't think so, in my country probably it would cause more complaining between the people but actually they would pay in my opinion. Because we already are having many taxes.

[markjamrobin]

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.

[timerland]

Most governments are already saying this and putting out guidelines as to how much tax individuals should pay and the scenarios at which these taxes are applicable at.

Capital gains tax is probably the most prominent tax that is applicable to bitcoin, and most countries already have crypto CGT rules in place. Does it hinder the growth of bitcoin or the adoption of bitcoin? Not a bit.

I think that your misconception comes from the fact that you're talking about a tax for holding bitcoin which is completely illogical and no countries have or probably ever will implement.

In fact, i think that a clear and refined tax schedule should help adoption, if bitcoin is recognized as a currency instead of a good.

[superstarbtc]

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