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Author Topic: Bitcoin holders will have to pay their tax?  (Read 4298 times)
Janation
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September 07, 2018, 04:09:09 AM
 #361

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 the tax imposition on the exchange is enough to increase government revenue, there is no need to tax the holders, this will give investors a negative trust for bitcoin

That is really enough, and putting a tax on holders of Bitcoin I think is too much. The reason they are called holders is because they are holding Bitcoin and not that much trancsact Bitcoin as other trader and investor do.

Also, I don't investors will be having a negative trust on Bitcoin since not all of them would be under that government that will be putting a tax on Bitcoin. And other people said that Bitcoin is a great investment since you don't need to pay tax, there will still be a lot of people opposing to Bitcoin having a tax.
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Cocosoxoto
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September 08, 2018, 02:00:29 AM
 #362

Although we all know bitcoin or many more coins characterise its anonymity, government will have their way to get tax from citizens. I suppose this issue is completely feasible, it's possible to occurbecause if governments  force us to pay tax,they can get much profitable.
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September 08, 2018, 04:08:46 AM
 #363

of course not they will not pay taxes and for other bitcoin or cryptocurrency holders they will remain tax safe so that other bitcoin and cryptocurrency are very suitable if they are used to save money because they are not taxed.
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September 08, 2018, 04:33:10 AM
 #364

in tax matters I think the government has not been able to implement their rules, because in the meantime many countries have not been able to accept their existence, but it is important to know that some countries apply taxes when crypto is exchanged with the country's currency at a costthe country's financial tax transaction.

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Mamahmuda22
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September 08, 2018, 08:08:41 AM
 #365

I have full awareness of taxes for the country, but my country actually rejects the form that I submit because they do not have crypto procedures. the only thing I can do is pay the transaction tax directly when making a deposit / withdrawal from one of the local legal crypto exchangers.
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September 08, 2018, 08:36:10 AM
 #366

of course not they will not pay taxes and for other bitcoin or cryptocurrency holders they will remain tax safe so that other bitcoin and cryptocurrency are very suitable if they are used to save money because they are not taxed.
Taxation is not something that can be applied to crypto or bitcoin because it is a product not within the control of the government, they want to tax is also impossible, crypto and bitcoin always pass laws and government rules. And this is why so many people are still investing and holding crypto, we do not need to share part of our income with the government, this makes a lot of people happy and use, I also feel tax evasion is a great thing when we can clearly see the amount of tax we pay is too big

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September 08, 2018, 08:46:27 AM
 #367

I don't think it's important because in order to save bitcoin or other cryptocurrency you don't need to pay monthly taxes like you save in a bank, it's one of the differences between banks and bitcoin.

Chrystora123
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September 08, 2018, 08:49:28 AM
 #368

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.
that taxes will be applied if the goods or services are recognized by the government in the country, and if the ownership of Bitcoin is taxed, Bitcoin is indirectly recognized by countries that impose a tax on Bitcoin... to be honest, this will be very good, so the price, the number of cryptocurrency distributions, and the law on the ownership of Bitcoin will be clearly and legally regulated by the state.

Girlsbit
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September 08, 2018, 09:01:02 AM
 #369

This all will soon get used to it. Before, it was strange, now nobody to do anything with it can not.
ajuelnah akun
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September 08, 2018, 09:05:41 AM
 #370

in my opinion it's good, with tax recognition, just as bitcoin has been recognized by the government. I will pay taxes on time if that happens.
orayorayan2
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September 08, 2018, 09:06:25 AM
 #371

provided that all there is a return from the government and as long as it is within reasonable limits maybe the holders will agree, it could indeed affect the decline of new investors but I believe it will not have much effect, maybe tax is a government option so they get income from bitcoin, provided the government legalizes and technically supports it sounds like it's worth it
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September 08, 2018, 09:13:21 AM
 #372

Of course they will not be taxed because they store bitcoin on blockchain and wherever it should not require tax fees, bitcoin will only be taxed if you make a shipment or when making a transaction.
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September 08, 2018, 09:40:07 AM
 #373

this is certainly a government effort to make rules about bitcoin and other crypto currencies, if the rules of the government are clear and do not harm as a holder of bitcoin it certainly doesn't matter if you have to pay taxes
ylnar123
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September 08, 2018, 09:55:24 AM
 #374

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.

The problem is, how can the government  take taxes if Bitcoin users are anonymously earning it? To impose tax on every earnings an individual has, they should be able to declare it as their ownership but crypto is different, so the government should find a way first on how to void the anonymity of crypto to be able to impose taxation.

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onepiece1995
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September 08, 2018, 10:04:09 AM
 #375

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 could be lower but it could be higher. take the example if the government gives a tax-making order for BTC users but with a low tax, and maybe a lot of people will be interested in BTC. maybe in my opinion those people are still afraid of BTC, maybe not all of them can accept BTC. but I believe in the end if BTC peaks there will definitely be a tax, but I hope the tax is not too high because it will be very detrimental to BTC holders.
Flor1982
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September 08, 2018, 11:40:42 AM
 #376

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 all can be tax then nothing will happen as all Bitcoin tax that will be collected by the government will be spend and will be return to the people in form of basic services, infrastructures and salaries of the government employees. Bitcoin supply will normally circulating in the market maintaining the balance of supply and demand as the government is impossible to hoard Bitcoin because of the TX hash and wallet address that could be monitored by everyone in the community.
Xenophoto
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September 08, 2018, 01:30:21 PM
 #377

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 all can be tax then nothing will happen as all Bitcoin tax that will be collected by the government will be spend and will be return to the people in form of basic services, infrastructures and salaries of the government employees. Bitcoin supply will normally circulating in the market maintaining the balance of supply and demand as the government is impossible to hoard Bitcoin because of the TX hash and wallet address that could be monitored by everyone in the community.

That is no problem to the government at all. A transparent record by the blockchain can easily be blurred out. Supposed that there's a specific wallet for the government's funds. It's when they distribute it to different wallets (supposed that each institution gets one wallet for each) that will make it blurry as the more transactions that has happened, the harder it can be tracked unless they name each and every address the money was sent to. It has been a long time since the transparent records of where our taxes are going was asked by the people but to no avail. Gone are the days when people actually cared about this thing anymore. People are now more focused on educating themselves, learning how to survive in this world full of corrupt government. After all, we shouldn't be depending on the government as they were never dependable anyways.


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.

The problem is, how can the government  take taxes if Bitcoin users are anonymously earning it? To impose tax on every earnings an individual has, they should be able to declare it as their ownership but crypto is different, so the government should find a way first on how to void the anonymity of crypto to be able to impose taxation.

The anonymity can be voided by KYC that's required in using our local exchanges but then again what would happen to the transactions that are done outside the exchanges. It really is hard, man, but all of the goods and services are taxed anyway and that's where our money is ultimately spent. When you directly buy something from someone using fiat, the seller doesn't have to declare that in his income tax. So in a way, nothing has changed except now you can send money overseas without the need of a bank or a remittance center.

NewRanger
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September 08, 2018, 01:40:28 PM
 #378

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.

The problem is, how can the government  take taxes if Bitcoin users are anonymously earning it? To impose tax on every earnings an individual has, they should be able to declare it as their ownership but crypto is different, so the government should find a way first on how to void the anonymity of crypto to be able to impose taxation.
government could track investor's asset from exchanger data.while government legalize it, exchanger must give them reall data of their member.so they could track how much the value of our asset.
boyz97
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September 08, 2018, 01:52:52 PM
 #379

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.

The problem is, how can the government  take taxes if Bitcoin users are anonymously earning it? To impose tax on every earnings an individual has, they should be able to declare it as their ownership but crypto is different, so the government should find a way first on how to void the anonymity of crypto to be able to impose taxation.
government could track investor's asset from exchanger data.while government legalize it, exchanger must give them reall data of their member.so they could track how much the value of our asset.
that's right dude, if government legalize about cryptocurrency, opening member data of exchanger is their obligation.they could not avoid about it.and we could not hide our asset anymore.

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Dudeperfect
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September 08, 2018, 02:13:43 PM
 #380

I am not sure what are you willing to say exactly but as of now, I am paying taxes for the earning made in Bitcoin or any other cryptocurrency for that matter. It is true that Bitcoin is not yet legalized by most of the governments but that doesn't mean we shouldn't pay tax on it. Any gain is subject to tax (with some provisions and exceptions) in my jurisdiction so even if it is not taxable as Bitcoin but it is taxable as a monetary gain in my country.
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