Bitcoin tax value

[tanoe]

With tax calculations like this? why don't you keep your assets outside of the country where you live. because in my opinion, it's very crazy. your assets will only continue to decrease due to unreasonable tax calculations.

It's not as easy as it may seem, especially when my local tax authority knows what I have because I declared my holdings. In total they know about 40% of my Bitcoin holdings and the rest is secured without anyone knowing.

By hiding 60% of my holdings I effectively have made sure that they can't tax me over that part of my net worth, but that also means that I have to figure out how to legally use these funds somewhere in the future.

Good thing is that Bitcoin has so much more potential to increase, that inflation and tax hits aren't really a problem in the long run. The Bcash fork last year was a welcome event with how I use the free coins to pay my taxes with.

Woooww, it takes patience and a smart strategy to hide most of your assets while 60% of those assets cannot be used freely without tax. isn't it ?
and, does relying on a fork event be the only solution? I think you have to think of another solution. because this is an event that doesn't even happen, right? what your another plan ?

[BitHodler]

Woooww, it takes patience and a smart strategy to hide most of your assets while 60% of those assets cannot be used freely without tax. isn't it ?

It could, but it would need to be spent on things not requiring any form of registration and whatnot. I don't really mind it at this point, I'll figure something out later on when the time is right.

and, does relying on a fork event be the only solution? I think you have to think of another solution. because this is an event that doesn't even happen, right? what your another plan ?

I don't rely on forks. I genuinely keep my coins offline for the purpose of building up wealth in Bitcoin and having money that can't be seized. Forks are nothing more than an annoyance to be honest.

People think it's free money, but they don't realize that cashing out fork coins means that you are pretty much signalling that you have an equal amount of Bitcoin that has been hidden for many years.

[alex_gr_cc]

I am also sure that sooner or later they will impose a tax on cryptotrading. In my country, I expect a tax of 10%. But it concerns the centralized exchanges. In this case, many will go to the decentralized exchange. There can be no taxes.

[Cherylstar86]

I wouldn’t dream for that situation seeing bitcoin imposed with any tax value, since this was a decentralized currency operating blockchain transactions across the globe.
Although most of us see this as a growing digital currency, but it differs with fiat whose been bind with government regulations. Bitcoin has its own freedom of financial system separated from fiat cash economy. In any form of legality of bitcoin in the future, I just hope that government will review this matter against value of taxation when our law will be ready to recognize bitcoin as regular currency to be used around the world. Because, once it was coursed through globally I think there might be a corruptions toward taxable value.

[Mhd-Bobbi]

As the title says, we know it is inevitable that Bitcoin trading is gonna get taxed sooner or later (better later, tbh ) so i am asking you , what TAX are you expecting? 19% ? 20%? 10%?

Why do you ask about tax?
Do you know who is the creator of Bitcoin?
Or have you paid your building and vehicle taxes?
If you have not paid taxes, then you have no right to question the Bitcoin given what percentage of tax, because you have not paid the tax on your building and vehicle.