Quote from: botany on August 20, 2017, 08:51:17 PM

Quote from: iamTom123 on August 17, 2017, 02:53:03 PM

Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.

However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.

I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?

The government may not be interested in checking your cryptocurrency transactions for now, but they may not ignore it for ever. The IRS decided to go fishing into old coinbase records dating back a few years suddenly. There is no surety that your government might not do the same.

not only are not interested, even some countries strongly disagree with bitcoin that will damage their own currency