I don't understand any of this shit. I don't understand how it could possibly be taxed, and I don't understand how much taxes I'll be paying. I live in America btw.
you make a profit on something, you pay tax. same as everything else. if you sell a mountain of horse carcasses for a profit you pay tax on it. why should bitcoin be any different?
i assume in america you'll be paying capital gains.
you might find this site useful -
https://bitcoin.tax/