Bitcoin holders will have to pay their tax?

[pinoyden]

Yes. Bitcoin users do have to pay tax in the form of transaction fees whenever they used their bitcoins actively like for example when buying or trading .  tax on cryptos is working differently when compared to tax in regular currency such as fiat money because the fees or tax that charged for bitcoin users are only payed for the miners and miners dont use it to improve the development of cryptos not only to governments that collects a tax .

[paynercash]

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.

This can also be applied if they already know how they work. This is considered to be the profit taxpayers are most desired to date. Hope that should not happen or if there is a reasonable cost a bit.

[beverly788113]

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.

At the present time you can see that bitcoin is very little recognized in the world and for legal use, so bitcoin is also not taxable. So many individuals or organizations use bitcoin as a tool for money laundering and illegal transactions. Because there is no state control, the price of new bitcoins fluctuates sharply and is controlled by sharks.

[kidd07]

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.

At the present time you can see that bitcoin is very little recognized in the world and for legal use, so bitcoin is also not taxable. So many individuals or organizations use bitcoin as a tool for money laundering and illegal transactions. Because there is no state control, the price of new bitcoins fluctuates sharply and is controlled by sharks.

Bitcoin can be taxable if it will be legalized in our country. As for now the government has no control to it so it is hard for them to declare a taxable bitcoin because they don't even know who are these people are involve in bitcoin, since it is anonymous.

[bapetdik]

I think if it's legal in a country, then of course there must be a section that deals with taxes for bitcoin holders. But if it's not legal, then we don't need to be taxed. That's my opinion. Because it is not easy to set tax from bitcoin because bitcoin itself is anonymous

[Escan0r]

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.

Maybe if you do that, bitcoin holders will not agree because if they pay taxes for bitcoin they hold it will make a loss to the holders. Let us think if they hold back in the long run and then the tax is more expensive than the bitcoin they hold?

[hisuka]

I think if it's legal in a country, then of course there must be a section that deals with taxes for bitcoin holders. But if it's not legal, then we don't need to be taxed. That's my opinion. Because it is not easy to set tax from bitcoin because bitcoin itself is anonymous

Well if government required users to pay taxes people should follow. It is legal once government have the rule about this. But hard to pay taxes since value is fluctuating maybe people will still adopt this kind of situation.

[hxtop]

If the government told that all bitcoin owners had to pay taxes, it would not reduce the demand for this bitcoin. Because many people in my country avoid investing because of the lack of tax regulation.

[aaeeggoo]

Why should Bitcoin "holders" pay any taxes? There is no tax for purchasing some asset. Only when you are selling it, you need to pay taxes on the profit. Well, incase crypto is covered under VAT or GST, then you need to pay some taxes. 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

[Lauff]

if that happens I don't think it's a problem especially for me, because by paying taxes for bitcoin holders, bitcoin has been legalized by the government indirectly, and this is one of the main objectives of bitcoin holders

[Grimjule]

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.

Responsible people always like to pay tax. They know the importance of tax in the development of a country. Therefore I think that when bitcoin will become a regular currency then people will surely like to pay tax on their profit.

[justspare]

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.

Those who are not rich will decide to quit and leave it for the rich dudes to compete among themselves lol. You’re not even yet sure whether you will gain anything for the month or not, and you’re talking about paying tax. If they should start enforcing tax on bitcoin don’t you know that they will charge you tax whether you gain anything or not, so lots of people are going to quit even at their first time of investing in bitcoin, cause it would make no sense.

if that happens I don't think it's a problem especially for me, because by paying taxes for bitcoin holders, bitcoin has been legalized by the government indirectly, and this is one of the main objectives of bitcoin holders

Lol, that’s very funny. Who talked about being legalized here ? It doesn’t even need to be legalized for anyone to make use of it. The only thing legalization can help to do is create a connection between banks and the blockchain so that users of cryptocurrencies will be able to make straight payments and withdrawals from exchanges to banks and from banks to exchanges and you can’t do that without exposing your full identity, cause another thing people loves about bitcoin is anonymity.

[Dofotonomo]

The real holder and also the trader will definitely decline. and this provides a great opportunity for money laundering mafias, although there is a tax, but keeping the money in bitcoin is much safer.

[Mhd-Bobbi]

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 would be better if you have to pay taxes for BTC holders. That means the government supports all people who use BTC. Everyone wants their country to be approved by the government for those who use BTC.

[starkan]

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.

HELL No! Probably they can only tax exchanges who has done KYC, and all people can pay their tax forcibly.

[Girlsbit]

Not the best idea, given what attention the government gives to regulating affairs with bitcoin.

[South Park]

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 there are only two options, you choose to comply like I think most people will do despite their brave and daring words, but there is going to be a minority that choose not to do it, I really think that in the future we are going to see countries adopting a stance of not charging people taxes for their bitcoin holdings and those that have a lot of cryptocurrencies will just move there and avoid paying taxes.

[automaticmoney]

paying taxes for any country is good for country and safe for crypto traders as well everyone should encourage to pay taxes

[andrei56]

Yes. Bitcoin users do have to pay tax in the form of transaction fees whenever they used their bitcoins actively like for example when buying or trading .  tax on cryptos is working differently when compared to tax in regular currency such as fiat money because the fees or tax that charged for bitcoin users are only payed for the miners and miners dont use it to improve the development of cryptos not only to governments that collects a tax .

That is not going to be possible, if the government wants us to pay taxes for each transaction we make they will have to either control the network in which case we will probably need to fork bitcoin to block the miners of the governments or they will have to control the developers in which case we can reject any malicious update to the code, as you can see attacking bitcoin is not going to be as easy for the government.

[Refcrypto]

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.

Paying taxes on bitcoin isn't nearly as hard as it sounds

Bitcoin has soared in value over the past year.
Paying taxes on bitcoin may seem daunting to people selling off their investments.
The reality is straightforward for most investors, based on how much you bought bitcoin for, how much you sold it for, and what you make in income.