Bengaluru auto driver accepts cryptocurrency as payment

[vino.gcs]

It's very rare to see an option to pay with crypto in our country, hope he gets famous with his new tactic and get more customers and some may even hear about the term crypto currency for the very first time after seeing this banner.

There is a big reason why no one in our country thinks Bitcoin. or other crypto as an alternate payment option and that is the huge tax associated with it. I have said it in the past and I am saying it once again that it would have been great if a big corporation integrated cryptocurrency as a mode of alternate payment. The problem with our country is most of our enemies are surrounding our border and they have started using crypto as an alternate source of payment to pay those who are being used to disrupt our democratic values. This might be the reason why we do not see a big firm operating within India using the existing cryptocurrency tech as a mode of alternate payment option.

So isn't there a way to avoid paying the taxes associated with capital gains in bitcoin? I always ask myself this even when reading your posts but I just can't understand why we can't circumvent this system which is honestly wrong!

[TheUltraElite]

So isn't there a way to avoid paying the taxes associated with capital gains in bitcoin? I always ask myself this even when reading your posts but I just can't understand why we can't circumvent this system which is honestly wrong!

I hate to play the devil's advocate here, but taxation is necessary evil however you might think it is. Without taxation who is paying the government for its development, in theoretically well functioning government the taxpayers money is used in the country's development among many other things.

If you think bitcoin is a silver bullet to avoiding taxation, then you are grossly mistaken. The officials will find out eventually and then you have to face the music. The ones who get saved are the ones who are below poverty line or super rich.

[vino.gcs]

So isn't there a way to avoid paying the taxes associated with capital gains in bitcoin? I always ask myself this even when reading your posts but I just can't understand why we can't circumvent this system which is honestly wrong!

I hate to play the devil's advocate here, but taxation is necessary evil however you might think it is. Without taxation who is paying the government for its development, in theoretically well functioning government the taxpayers money is used in the country's development among many other things.

If you think bitcoin is a silver bullet to avoiding taxation, then you are grossly mistaken. The officials will find out eventually and then you have to face the music. The ones who get saved are the ones who are below poverty line or super rich.

so as in all countries the richest social class is the one that always has more privileges than the others, so the poor have to suffer and the big rich can do their dirty things behind the backs of the citizens who pay, no I'm sorry but I don't think so thus, everyone should pay taxes in relation to what they earn