Bitcoin holders will have to pay their tax?

[Ezenwanyi]

If I agree to the assertion that bitcoin holders should pay tax on their holdings.
How will that be actualized in the practical terms,since bitcoin is not under the control of any regulative body etc.
How will capital gain tax be implemented with utmost transperncy and fairness?

[bce]

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 indeed the investment tax with crypto currency will make it comfortable and safe and certainly not detrimental to me the sense of tax will not be burdensome for the investors themselves

[PlusOne88]

Not a very good news if that happens. As of this posting the market for bitcoin have gone very low and we don't know it it could ever go up again like the last time it did peak on its all time high. If taxes will be imposed what else could the investors get in return if a drop like this could occur? It is really a big matter to look and consider as of this point in time.

[stephanirain]

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 a lot of people will not agree if all bitcoin holders will have to pay their taxes, even we earn money for free because the government does not have the rights or to run cryptocurrency and blockchain technology.

[BigTeeths]

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.

Depends on how much is the tax deduction. A small amount probably will make a lot to stay in the community and it's just fair because we are all used to having taxes on services and things that we buy.

[rafi035]

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 that is fine if taxes do not burden investors in investing with crypto currencies if indeed with our tax in investing feel safe and comfortable I think that is good too

[quality.crypto]

Of course not, bitcoin holders should not have to pay taxes because this bitcoin does not have rules like, anyone who has free bitcoin is not taxed and no bitcoin will be able to manage it. anyone will not be able and will not be able to tax the bitcoin holder.

We need not to pay any taxes on holding on Bitcoin because as long as our government didn't legalise the Bitcoin then we are in good shape. But if you are taxpayer then definitely you need to submit the balance sheet to government and we need to pay taxes on it.

[tapaibuccok]

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's only a matter of time, the government will take over the crypto currency and require taxes, now the KYC has been obliged, and that's just the beginning...

[congresowoman]

In my opinion instead of slowing down the expansion of the community, the thing is people will be much interested in it. For the sole reason that crypto is now recognized by the government and backed up by national operations such as tax collection. This will be a huge improvement for government operations because big money are coming in and out of crypto. Tax will help a lot.

[suzanne5223]

What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??

If the government legalizes Bitcoin in the country where we live I think it is legitimate in tax collection, provided that Bitcoin is officially traded.
Another thing is that now Bitcoin is still no attraction between the government and holding Bitcoin.
so the conclusion of Bitcoin if the tax law is made okay.

Youre right about that which I also supported that tax should be pay if bitcoin is legalized and the only thing which is not fair to me is bitcoin holder paying tax just because they hold crypto currency as the title says. However, those that buy, sell or trader bitcoin are the one who should pay tax because if government implement tax for crypto holder that will definitely discourage people from holding crypto currency and we both know that it will affect the market so bad.

[liansehao]

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 is normal if we have to pay tax for bitcoin. I think the government always want to do it and after that bitcoin will soon be accepted in near future.

[Janation]

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's only a matter of time, the government will take over the crypto currency and require taxes, now the KYC has been obliged, and that's just the beginning...

I don't know how will the government take over the crpyto currencies, they are decentralized right?

KYCs are just a requirement for sites like exchanges since there are a lot of people that is taking advantage of the anonymity and earning a lot of money from scamming the reason they needed the KYC. It doesn't mean that the government will be taking over it, that just means that owners of these sites are taking some measurements about it. I don't think we need to exaggerate the government taking over crpytocurrencies since they will not.

[UNOE]

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's only a matter of time, the government will take over the crypto currency and require taxes, now the KYC has been obliged, and that's just the beginning...

I don't know how will the government take over the crpyto currencies, they are decentralized right?

KYCs are just a requirement for sites like exchanges since there are a lot of people that is taking advantage of the anonymity and earning a lot of money from scamming the reason they needed the KYC. It doesn't mean that the government will be taking over it, that just means that owners of these sites are taking some measurements about it. I don't think we need to exaggerate the government taking over crpytocurrencies since they will not.

I agree with you Janation. The government can try to take control, but it's certainly not going to work. My wallet address is unrelated to my name. So they can't know that I'm holding.

[alinapvlvch]

it is inevitable and it is not even necessary to guess, will be or not taxes. of course will be and already is. and the countries in which so far the tax is not imposed still just did not reach before.

[vixcious]

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 government can not control this. This is the advantage of blockchain technology and we do not have to worry about this. Besides that, I think those guys holding a lot of bitcoin will have people working in government. you will not know who is really who is fake in this market

[hahay]

In my opinion instead of slowing down the expansion of the community, the thing is people will be much interested in it. For the sole reason that crypto is now recognized by the government and backed up by national operations such as tax collection. This will be a huge improvement for government operations because big money are coming in and out of crypto. Tax will help a lot.

But with the implementation of taxes for bitcoin holders, of course, it will make the expansion of bitcoin better and so does the price that is not easily manipulated. But I realize that with the manipulation of prices in the crypto market it will also continue to make the popularity of bitcoin and crypto more and more with news and articles everywhere because the price of bitcoin is falling due to the bear market or even pumping up into warm conversation.

[Adhichan]

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 government can not control this. This is the advantage of blockchain technology and we do not have to worry about this. Besides that, I think those guys holding a lot of bitcoin will have people working in government. you will not know who is really who is fake in this market

but we need their regulation to make mass adoption.without this regulation hard for cryptocurrency could be adopted in any field.so this obligation to make crypto capitalization rise alot.

[pat4cryptoreal]

The mode of taking the tax and the percentage will determine investors drives towards bitcoin because there must be profit in any investment we venture into. If the taxation rate will be too high people will have a second thought.

[yatogami]

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.

There are already countries that adopted tax on BTC, though its status varies a lot in different jurisdictions.
For example, in the US and Australia btc is treated as an asset, while in the EU and Japan bitcoin was officially recognized as a means of payment.
Different approaches to cryptocurrencies define different types of taxes, but the overall fact is that privacy and full control over your funds are no longer the advantages of crypto.
Despite all these attempts of regulation, I think crypto community is still expanding and we will see more and more people using crypto for their daily needs in the nearest several years.

[jatin729]

Why holders have to pay taxes i don't think so. Taxes will only liable if someone trade bitcoin for exchange to fiat currency than we can think about pay taxes but for holding it is not liable.

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 government can not control this. This is the advantage of blockchain technology and we do not have to worry about this. Besides that, I think those guys holding a lot of bitcoin will have people working in government. you will not know who is really who is fake in this market

But bro if govt. regulate exchanges where we have been traded than govt. will have our all details and transaction we made on particular exchange so according to me pay taxes can be good option for us if govt. allow crypto.