Bitcoin holders will have to pay their tax?

[noormcs5]

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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

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[naily]

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 dont think paying taxes will be obstacle for bitcoin or cryptocurrency. If government regulate bitcoin and cryptocurrency become asset, its our obligation as citizen paying taxes. Its very normal if we pay taxes from our asset we have

is it not when making transactions on the exchange we are already taxed, and if the government still imposes taxes on bitcoin holders while the government cannot control the movement of the crypto currency, how can the government do tax

[turkandjaydee]

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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

First of all , if the volatility is still this high, i think noone will trust cryptocurrencies as a common currency. This thing really needs a mass adoption.
If that thing happens, paying taxes will mostly happen too.

[strunberg]

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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

No one will pay tax on bitcoins unless it is properly regulated by the governments. In most parts of the world, government does not recognize the bitcoins transactions and in few parts it is illegal to deal in bitcoins, so why would anyone pay taxes on it ?
Firstly, governments and other financial institutions should accept it as a regular currency and only then people can be convinced to pay taxes on it.

First of all , if the volatility is still this high, i think noone will trust cryptocurrencies as a common currency. This thing really needs a mass adoption.
If that thing happens, paying taxes will mostly happen too.

cryptocurrency will always have high volatility.this think make an opportunity for trader investor, their profit come from this volatility.mass adoption is an obligation if we want to see bitcoin price rise alot.

[umbara ardian]

bitcoin holder is free to store assets anywhere and is not subject to tax fees, to be safer you can store the bitcoin that you have in a wallet like blockchain and some other wallets that have very high security.

[Rizky Aditya]

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.

A lot of people are going to quit, example me* because I’m not ready to be paying double taxes. You can’t be paying tax to your government for the job your doing in your country and also be paying tax for Bitcoin, lol that’s never going to work. There is no need to talk about this cause we already know that they are not going to charge tax for Bitcoin, the government has no business with any cryptocurrency.

[posi]

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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

that is positive effect if we should pay taxes from bitcoin we have.and i think all investor could be agree if this policy give positive impact to their investment value.and also they feel comfortable with market condition.no more fud about banning from government.

It will does create positive effect because of the countries where bitcoiners pay tax this days are countries where bitcoin was accepted as legal tender and payment system.

[Getcoinsite]

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.

What we love about cryptocurrency is the decentralization thats why governments are irritated in presence of bitcoin,because they can’t apply taxation

But for me personally i love the idea of this cryptocurrency will be provided taxes since this is an obligation of every profit earning people,and this will help our community to he accepted in the whole world.because governments will see their benefits in this

[Gabali126]

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 not supposed to be. People should not allow this to happen. You only pay tax on property not on the money you have in your account.

[MrRiuss]

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.

nothing will happen, business as usual. everybody should pay tax.

[promich21]

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.

Well, if we are all oblige to pay Bitcoin taxes then this mean Bitcoin is now accepted everywhere in which the more the commodity is legal then the more will people will trust and join the investment because their confidence level for the security is high. In general, Bitcoin will become more stable and strong due to high demand of it.

Nothing will happen bitcoin is anonymous there's no way to trace your transaction. Don't worry if they applied tax we won't give any government can't reach to us that's the big advantage of bitcoin.

[MackLewis]

If you own a bitcoin, you are taxed. For many people, bitcoin is just an investment. If you have kept the bitcoin for less than a year and sold it, the cash will be taxed as an income (or in other words, you are taxed). If you have kept your bitcoin for more than a year, it would be taxed the same as the capital gain (profit from the sale of investments or property) - maybe 20%. In addition, transaction costs and accounting can increase the total cost to 60%. But the problem here is: Almost nobody reported this. From 2013 to 2015, less than 900 people each year report bitcoin transactions to the US Internal Revenue Service (IRS). This makes the IRS in 2014 to identify pre-coded assets and recently the IRS convened Coinbase to collect information related to customer data over the past three years. . In particular, the agency has requested records of more than 14,000 users who "buy, sell, send or receive at least $ 20,000 in a given year.

[cintamoni]

I don't think it's possible, bitcoin holders don't need to pay taxes, you can also use it to store as many assets as you have, as much as you can, the more bitcoin you have, the more you can get.

Mostly criminals are also used bitcoin for the same task. They work anonymous and send money via bitcoin so no one can caught them.

[Lydiaglo]

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.

When we pay taxes, I just hope that it will never be on the hands of some greedy persons. It is really okay to pay but hey, some reasons are just nonsense. We also want to help one another by engaging on some charitable program.
Governments, also have a lot of budgets so they won't bother.

Are you talking about government taxes or blockchain taxes for holding our coins? If you are talking about government taxes then I am against this because governments do nothing for us and already applied a lot of taxes, while there is no facility given to us. If it is about blockchain wallet tax then it is compulsion of the people to give tax on their holdings.

[Guideare]

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.

OP probably wanted to say that you may have to pay a tax on your cryptoholdings very much like you have to pay a  property tax every year in so many countries. For example, if you own a few acres of land or a piece of real estate, say, a shabby cabin by the lake, these are all taxable. Though I don't know how any government is going to collect such a tax if it levies it on possession of crypto. I don't know if there is such a government, but it would interesting to see how things are going to develop in this particular case and what their mileage will be

As for myself, such tax doesn't make much sense as it will be very hard to collect and yet harder to prove tax evasion

Yes, tracking crypto holdings and assessing the tax liability is the real trouble for the governments. I recently read this article,

* Japan’s National Police Installing Crypto Transaction Tracking System - Bitcoin News.

But there is always a loophole for such system and hence the whole system is based on self-declaration and assessment in the initial phase, that would create chaos across the crypto community. As of now, in my country, we are taxed when the amount is converted into the fiat currency and there is no other way for the government to believe on the information furnished by the taxpayer assessee.

It will create chaos in the tax system itself before anything else. For example, here, in Soviet Russia (lol) the tax authorities have officially stated that they are not going to do anything about crypto and those who are involved in cryptocurrency operations. And it is not about possessing crypto and declaring it, it is about anything crypto related assuch including income tax on profits earned via cryptocurrency operations ("buy low, sell high"), the tax which you should pay in other countries lest you get in jail. Yes, it is an official position of the Russian tax service, and it is dictated by understanding that going after every potential tax dodger would create more problems than solve

So cryptocurrencies are officially tax-free or tax-exempt in Russia

The population of the Russian Federation is 147 million.
The working population is 71.8 million.
Millions of them are officially not employed anywhere and do not pay taxes.
Citizens of the former Soviet republics + Chinese, Koreans and other people who live without registration can not be counted (several million 2-5, read some opinions). They also do not pay taxes. All issues are resolved through bribes.

This is our country, and mining has nothing to do with it. Catching miners is a difficult task and not the most urgent problem.

There was a time when bitcoin price was 20k and now its just 6,400$ which makes a big difference.But if government accept it they'll surly apply highly tax because its volatile and government makes big profit.

If your topic is about the government tax, then I am sure it is not possible especially in my country because nobody will give tax to government. Government doesn’t know how many people have invested in cryptocurrency and how many much money they have invested. I want to tell why people do not want to pay tax to government, because the officials in our country are not fare and they will benefit the government.

[dharavikala]

I believe it's fine. For whatever length of time that the legislature sanctioned bitcoin into their nation. I would rather settle regulatory obligations yet i'm permitted to utilize bitcoin for exchange as opposed to do it covertly. It is sufficiently hard to persuade the administration to acknowledge bitcoin, and if by making good on government obligations can influence them to authorize it then why not.

[gheawari431]

This can be very complicated, right? In order to do that, the government authorities need to link all the crypto-wallets to the individuals, as a lot many of the users won't be ready to reveal their crypto holdings. And doing so is going to take a lot of time and effort.

The government need of taxes for operational costs and for the development of the country. As long as bitcoin ownership in the wallet, the government never know . When bitcoin exchanged for fiat money,   the government knows bitcoin ownership and can impose taxes.

[jambul_kribo]

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.

nothing will happen, business as usual. everybody should pay tax.

it would not getting low on its community, maybe  it would give positive impact to new investor that would their money into cryptocurrency market.they consider this policy will give them certainity for their money.

[btcmmo9314]

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 means the government will accept Bitcoin. I think that is good, and I will volunteer to pay taxes. But in my opinion, tax exemptions for investors who have suffered losses.

[kumala_abi]

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 means the government will accept Bitcoin. I think that is good, and I will volunteer to pay taxes. But in my opinion, tax exemptions for investors who have suffered losses.

they should have certain rule about taxes.it is impossible for losser trader attracted taxes.they could paid their lose twice.so before taxes policy deciced government must make it clear first.