Bitcoin holders will have to pay their tax?

[Ssid]

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 you will and should be taxed when you just "hold". Not until you sell and take profits one day. On that day how much money you gain subtracted by your initial investments would be taxable.

Usually holders are taxed less than traders tho. By holders it means you hold more than a year.

[Haji Rambo]

Country children have to obey taxes ... to be together, together with developing the country with taxes, I really agree.

[Underlord]

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 fact there are several countries that have applied tax to Bitcoin. The taxation system of Bitcoin profits in countries can vary greatly. Some countries treat Bitcoin as a currency, while countries like the US and Australia regard it as an asset or commodity.
The problem will not be complicated when it comes to corporate entities engaged in the Bitcoin sector, because the tax assessment is taken from company tax. This is only complicated when individuals have the advantage of Bitcoin. All of course back to each individual about the obligation and awareness of paying taxes, anyway it would not hurt if we set aside a portion of our income from bitcoin for the progress of the country.

[Luana Trade]

NOT IN TRUTH WOULD BE GOOD BECAUSE PEOPLE AT ALL WAS GOING TO SEE THAT BITCOIN EXISTS AND IS NOT A SCHEDULE PONZI AS MANY PEOPLE STILL DO NOT BELIEVE THAT THE BITCOIN WILL EXIST

[burakdat]

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.

And we did already pay taxes on BTC as we all know that before exchanging fiat to crypto in our local exchange, the local exchange will take us a transaction fee for the exchanging process. So definitely this is where tax started because these local exchanges are being regulated by the government and the government will take a percentage tax on the local exchange.

[Oppang Inamo]

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.

They can't manipulate, control, and solicit taxes on Bitcoin Holders and users. You already have taxes when you use it to buy certain things as you convert your cryptos onto your local fiat and those wallets that requires fees every time you make transactions do also pay huge taxes hence a part of those fees do given to the taxes for the government.

[Bagaji]

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 will only happen when most of the government of the world must have accepted and adopted Bitcoin as a means of exchange for goods and services in their various country. And I don't believe that will affect negatively the expansion of Bitcoin because its happen with banks and that has not stop people from not saving with banks.

[Altas]

There are tax payers upon the profit they earn from bitcoin. Already some governments functional around the globe has initiated such a plan. Here the taxes were levied upon the transactions happening through the particular account. In specific traders who involve into btc to fiat trading were the one that pay taxes.

[andrei56]

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.

You will have to pay your taxes, I know that there are many people that do not like the idea of paying their taxes, but the countries of the world are still very strong and it will be a mistake to try to defy them, not only that even if for some reason you were able to avoid paying your taxes you will be always nervous that the government will find out and that you will end up in jail.

[k1ng0fBTC]

But now the government does not have any rights with bitcoin, let alone make a rule that bitcoin holders have to pay taxes because now the government strongly prohibits the circulation and use of bitcoin in some countries

It is extremely difficult for taxpayers to handle Bitcoin because the Government can not handle it because of the Bitcoin's privacy and confidentiality. But in the long run, I think that in order for the cryptocurrency market to be firmly anchored in the global financial markets, government management and application are unavoidable.

We are already giving highly transaction fee if they applied more taxes bitcoin will die for sure.Rich People can leave there country just because of there government but poor people can at the end they stop using bitcoins.

[nymph116]

I don't think that taxing Bitcoin holders will have a negative impact on Bitcoin. If, i just only say if, if China, the world's most populous country and the world's second economy, announcing tax on Bitcoin, which does directly recognize the legal status of Bitcoin in China, thinks about how beautiful the picture is, and the bitcoin price will definitely be a new round of soaring.

[lendahawkins]

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.

Trade profits are already being taxed. Crypto tax already exist. It's part of a needed regulation that could actually help increase adoption contrary to your statement. You can't expect to make profit and not pay taxes.

yes its been taxed. In my local bitcoin exchange they did tax all the transaction so im pretty sure we dont have ro worry with the tax. What we should worry is the development of cryptocurrency and how goverment think about it.

[loverets45]

Bitcoin is not a registered business in any government offices, we are not committed to give taxes to the government ,we are independent , circulating in the cryptoworld without the regulation of the goverent ,so why should we pay taxes , it is not compulsory to pay dues to the government.

I never heard any country paying tax while using bitcoins i am agree we're giving some fee while sending money but paying tax ins't include yet.It might happen if government support bitcoin and gives full access to use cryptocurrencies in public.

[tyronecoinbit]

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 will only happen when most of the government of the world must have accepted and adopted Bitcoin as a means of exchange for goods and services in their various country. And I don't believe that will affect negatively the expansion of Bitcoin because its happen with banks and that has not stop people from not saving with banks.

Yeah, you're quite mate, but I guess  no one likes to pay tax, but for me, If It is just necessarily to be deducted for the sake of our growth
 economy,  I will consider this situation. And we cannot decline those taxes once we have  used centralized services to execute buy and sell trading, you cannot have any privacy on that scenario where as government can easily get caught on you and force you pay some tax.

[roxbit]

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.

This is one of the problems. You may have a taxable event even if you don't formally cash out. Short-term capital gains are taxed as ordinary income, which means your marginal tax rate will apply to your short-term gains as well. Anyone using cryptocurrency to pay for goods or services must treat each purchase as a sale. So, that is already a way of paying taxes because upon purchasing an item there is already a value added tax for the government benefits. The local wallet we are using for instance is governed my the local government.

[Voidcrafter]

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 sure that if the government organizes such a gesture that all holders pay taxes. Ve people will keep their bitcoins in countries where there is no prohibition. In offshore areas and other places where there is safety of storage.

[valentine401]

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, bitcoin holder should not pay taxes because most of the investors are already paying a decent amount which is transaction fees and that will compensate as the tax.

[bitcoinMyLife]

Bitcoin is not a registered business in any government offices, we are not committed to give taxes to the government ,we are independent , circulating in the cryptoworld without the regulation of the goverent ,so why should we pay taxes , it is not compulsory to pay dues to the government.

Government can make more revenue plus it can helps to develop our country more since people use bitcoins more than there fiat. Awareness is needed for Govt. to collect taxes.

[Glorypaasa]

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.

yes i think regulation of all goverments is another way to pay tax in cryptocurrency but. i think this is goood so some people and all people in the world will not say the bitcoin is a scam instead of saying this is a opportunity job for all people who have a money.

[yusupjatigumilar]

in my opinion there will be two possibilities that will emerge, first bitcoin will experience a price decline due to the implementation of taxes for holders, this can happen because if bitcoin is taxed it means there is no more anonymous term on bitcoin other than that cheap fees will also no longer apply because there is tax, the second possibility is that the price of bitcoin will increase because the government provides legal guarantees for every bitcoin transaction so that fraud in the form of bitcoin will not happen because all transactions are supervised by the government