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Author Topic: Bitcoin holders will have to pay their tax?  (Read 3192 times)
Refcrypto
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August 17, 2018, 02:57:57 AM
 #281

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.
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August 17, 2018, 11:43:03 AM
 #282

maybe it possible.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 an down.
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August 17, 2018, 11:52:36 AM
 #283

Every bitcoin holders should pay tax at their respective country. Pay taxes is good as a bitcoin investor
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August 17, 2018, 04:04:26 PM
 #284

It will make the bitcoin as a 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.
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August 17, 2018, 04:09:13 PM
 #285

Well you're right, a lot of previous investors are attracted to bitcoin as it could be an investment that the government could find difficulty monitoring.

But as a GOOD citizen of the country, we should not forget our responsibility. Many, including you are benefiting from the taxes paid to the government.

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August 17, 2018, 05:53:21 PM
 #286

if it is for the legality or formality i think imposing tax will strengthen the trust of the public in using btc as daily basis of currency not the fiat, but tax should be lowest rate as possible.
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August 18, 2018, 10:46:25 AM
 #287

I think that this depends on the country in which you live. If the crypto currency is regulated by law, then you need to read this law.

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August 20, 2018, 12:28:29 PM
 #288

What do you mean "if"? Most governments are already beginning to tax it, and given the fact Bitcoin won't go away and "die" the others will join as well it is only a matter of time. To your second point, I don't think that hinders the growth of the community, if anything I believe it helps it in an indirect way. You see the biggest sharks and sharps in the world won't enter the market because it is unregulated and they don't want to put millions on unregulated exchanges. If all the exchanges become regulated, sure it may stifle growth a little in the short term, but in the long term I think it is in all our best interests because the sharks will enter knowing the exchanges are 100% regulated and secure from fraud.
As one of te bitcoin user I will pay taxes if bitcoin will be legalized but if never happen then I will not pay my taxes to insure that my tax will be place in the right place.

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August 20, 2018, 03:14:02 PM
 #289

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.

To properly pay taxes on an investment in bitcoin, you'll need to wrangle some information from each sale you conducted over the last fiscal year. This includes the basis for each amount of bitcoin you sold, the date you bought it, the date you sold it, and the price at which you sold it.
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August 20, 2018, 03:41:15 PM
 #290

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.

To properly pay taxes on an investment in bitcoin, you'll need to wrangle some information from each sale you conducted over the last fiscal year. This includes the basis for each amount of bitcoin you sold, the date you bought it, the date you sold it, and the price at which you sold it.
Well, I don't think so. it becomes an uncountable treasure, because of the changing prices. but I don't know, every country has its own rules. but it is very difficult for them to pay taxes if they save their assets in crypto



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August 20, 2018, 04:08:48 PM
 #291

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.

To properly pay taxes on an investment in bitcoin, you'll need to wrangle some information from each sale you conducted over the last fiscal year. This includes the basis for each amount of bitcoin you sold, the date you bought it, the date you sold it, and the price at which you sold it.
Well, I don't think so. it becomes an uncountable treasure, because of the changing prices. but I don't know, every country has its own rules. but it is very difficult for them to pay taxes if they save their assets in crypto
Tax with bitcoin, even crypto is almost a story only in a very distant future, it's so remote that I could not survive until that time because the government has no way to control it and impose it on the bitcoin holder. Bitcoin is free between the laws of countries, although countries always have rules or prohibit the use of bitcoin but the government does not understand that it is meaningless, the bitcoin holder still uses it normally and does not have any pressure, so I never paid attention to the tax issue in bitcoin


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August 20, 2018, 04:51:24 PM
 #292

if government say what you think, its mean cryptocurrency accepted on that country. and im sure people will pay the tax though they are cheating by manipulate their income. but its no problem as it can be income for government. as far the government transparent about the regulation, i think people will follow what they say.

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August 20, 2018, 05:20:58 PM
 #293

When Bitcoin is run by tax, what is going to happen is a complex issue for the government to impose a tax on Bitcoin, if taxes are too high for Bitcoin makers to survive.

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August 20, 2018, 05:23:33 PM
 #294

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.
~
~
Tax with bitcoin, even crypto is almost a story only in a very distant future, it's so remote that I could not survive until that time because the government has no way to control it and impose it on the bitcoin holder. Bitcoin is free between the laws of countries, although countries always have rules or prohibit the use of bitcoin but the government does not understand that it is meaningless, the bitcoin holder still uses it normally and does not have any pressure, so I never paid attention to the tax issue in bitcoin

It's a fact that it is decentralized. I hope that wraps it all up. Bitcoin isn't that free in a certain country. It gets regulated, you're implying that people are using VPNs or any anonymous way of making transactions through Bitcoin. There were pretty clever people that can still deal Bitcoin through personal deals and I know that became a practice of cryptos to those countries who have its cryptos banned, but before that practice can be seen as a real practice many could have quitted crypto by that time since it is useless to be against the law. I wonder if there are closed groups that discusses how to deal cryptos anonymously, that's why these traders can still interact with each other.
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August 20, 2018, 05:52:10 PM
 #295

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.

As far as I know, simply by holding Bitcoins you are not liable to pay either income tax or capital gains tax. Only when you convert your coins to fiat these taxes will come to effect. Bitcoins may come under the ambit of wealth tax, but for that the government should specify that Bitcoin is a form of investment asset.


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August 20, 2018, 06:03:29 PM
 #296

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.

As far as I know, simply by holding Bitcoins you are not liable to pay either income tax or capital gains tax. Only when you convert your coins to fiat these taxes will come to effect. Bitcoins may come under the ambit of wealth tax, but for that the government should specify that Bitcoin is a form of investment asset.

I strongly agree with the policy because this is the entrance for crypto recognition. their task is only to perfect the overall draft regulation on crypto.

I am sometimes annoyed that government perceptions are actually inversely proportional if they do not need taxes because they are actually very large if accumulated from the total active users every year.
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August 20, 2018, 06:15:48 PM
 #297

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 you are right, I agree with you. If indeed this will happen this will cause the bitcoin community to be low.
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August 20, 2018, 07:10:59 PM
 #298

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 can do it bitcoin will never really famous and popular right now because the government manipulated the value of it. We don't really know what government can do about bitcoin. It is so powerful if that happens the bitcoin industry will be very doomed. And I am hoping that will not gonna happen.



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August 20, 2018, 08:08:12 PM
 #299

Bitcoin holders pay tax? How would that pan out?
I do not think that the government would be able to implement that because of the decentralized structure of bitcoin.
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August 20, 2018, 08:40:04 PM
 #300

Most govs are taxing incomes from bitcoin trading
But it is first to hear that people who just hold bitcoin will have to pay taxes
usually taxes are counted after bitcoin sell


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