Bitcoin holders will have to pay their tax?

[leostrong.mo]

Bitcoin is an investment for you! Just like stocks and bonds, you can declare taxes!
Since most cryptocurrencies are highly volatile and trading at high frequencies, calculating tax revenues is complicated!

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[ajochems]

It will made the bitcoin as trusted asset.All the traders in this world will start to inverse in the trusted asset.Then the demand of bitcoin will increase as like a gold and silver.It will increase the bitcoin investors in a very short time.Hence,the price of bitcoin will reach the unexpected maximum value.

[galinskiydmitriy]

The government cannot levy a tax for the retention of bitcoin as this would be very very difficult. Now some do not pay the usual taxes, and you are talking about crypto-currencies.

[bristlefront]

No. Bitcoin holders will only pay a tax once they use its fiat value to buy something. For example, you want a car and you only have bitcoin (you can't be tax since the government dont own it) so he wants to convert it into fiat and buy that car (this is the only time it would be tax when you use the fiat value) for have an convenient time going to work.

[longyenthanh]

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.

Nope, for me that only depends on country cause sometimes it is only said that you need to pay it but noone control it, that is different in every country and different restrictions are made on crypto.

[cizatext]

Bitcoin as a decentralized asset is very hard to be taxed due to that bitcoin holders will escape tax for a very long time if not for ever, taxing bitcoin is like taking it away from it original design which is decentralization that is be free from all forms of third party involvement and government taxing bitcoin is third party involvement so that can not happened.

[mimienamphine]

Pay taxes to whom?.Do we need to pay taxes now in cryptocurrency too?After so many years of paying taxes in various countries, but leaders refuse to use taxes for the right purposes now are asking us to pay taxes again even in cryptocurrency. I do not agree with tax payment in cryptocurrency.

[Chrisjay29]

Thier are some country that accepting crypto is now beggining taxes. But i think it will be unfair if only on the bitcoin holder. What about altcoin? They are profitable also same with bitcoin.

[Indai24]

Thier are some country that accepting crypto is now beggining taxes. But i think it will be unfair if only on the bitcoin holder. What about altcoin? They are profitable also same with bitcoin.

I don't think this is a nice idea that bitcoim holder may pay taxes in the future because it would be unfair. And prices of the commodities are already high because of the tax on top of it, so I hope tax will not be implemented.

[neya]

Here in our county paying tax not yet comply by our government.but bitclin here not totally legalized by our government and if that happens maybe its good to pay taxes if they will make bitcoin legal here rather than bannned bitcoin.

[ufaiz50]

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.

Then I ask you, do you know how many bitcoin I hold now? is it possible that the government knows who has bitcoins and who should be taxed. The government is not accepted cryptocurrency, so for what reason does the government charge taxes for the holders of crypto? this does not make sense to me.

[shulio]

I do not think it is possible for any government to know if a citizen has any Bitcoin if one knows how to hide.

[BitHodler]

I do not think it is possible for any government to know if a citizen has any Bitcoin if one knows how to hide.

It's getting increasingly difficult to hide that. Most of the newbies enter the market through centralized exchanges not knowing anything about what risks they expose themselves to.

The forks that we have had to deal with didn't help either. Bcash was too tempting to not dump for Bitcoin, and a lot people dumped them at any available exchange at that point to fetch the best possible price.

Coins that haven't been in direct circulation suddenly came back to life and the privacy of these people has suffered a major blow. Greed makes people do stupid things as always.

[jhongzjhong]

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.

It depends where country you are, as what I have heard US government their people was obliged to pay tax their if they spent their bitcoin. Well, so far luckily here our coutry my government did not implement tax that we are necessarily to pay. We can pay tax if we buy goods in our country.
OP, if ever in your country asking tax don't hesitate to give because that is contributed the economical growth in your country.

[0t3p0t]

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 Bitcoin can only be taxed when it was sent to a local exchange and converted to fiat money. As a hodler I can say that tracing or implementing a manual inspection of addresses just to impose tax by governments and banks is pretty complicated as there were millions or billions of adressess one can ever generate if we want. Taxes are good if it will be handed over into good hands too.

[ArnoldChippy]

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.

Nope, for me that only depends on country cause sometimes it is only said that you need to pay it but noone control it, that is different in every country and different restrictions are made on crypto.

Yes that is right that different countries have their own strategies about bitcoin, In some countries where bitcoin is legal i think that they may be collecting tax on bitcoin, but i think that those countries who do not yet taken any decision about bitcoin, or those who declare bitcoin as illegal in their countries they may not be collecting tax on bitcoin.

[bitllionaire]

It will made the bitcoin as trusted asset.All the traders in this world will start to inverse in the trusted asset.Then the demand of bitcoin will increase as like a gold and silver.It will increase the bitcoin investors in a very short time.Hence,the price of bitcoin will reach the unexpected maximum value.

Yes we already paying tax on different item, so if we will pay tax bitcoin it means that bitcoin is legal in our country and that will be a great news about bitcoin, because it will allow us to use bitcoin in our country as a legal currency. I think that there is no doubt that if we will start paying taxes on bitcoin it will make bitcoin more trusted for investment.

[Rufsilf]

I don't think that the bitcoin holders will have to pay the tax because there is no law in my country that says that i need to pay taxes because i am holding bitcoin or any other cryptocurrencies but i think in the future it will happen since cryptocurrencies are getting more attention and it is now being more popular than the past few years.

[maitexisi]

If the government levies a tax on bitcoin holders, the price of the currency will rise again, because it is a government affirmation of bitcoin. I don't think that will happen. Because bitcoin owners are reluctant to pay taxes.

[Getmon]

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.

On the contrary, I believe there will be a rise of Bitcoin investors. The government's acceptance will somehow soothe the doubts of so many people who are only waiting for certain events such as the formal adoption of the government for them to finally join and invest in Bitcoin. Taxing Bitcoin implies that it is already legal. The government cannot tax what is illegal.

But this will not be a good news to people who have entered earlier including myself. I am already fine with Bitcoin not having the nod of the governments.