Quote from: Burks on September 29, 2017, 07:05:13 AM

Quote from: SushGo on September 29, 2017, 06:49:07 AM

There would not be any taxes as the transaction will take place in private and there is no involvement of authorities and the government. It would be great if you find a buyer who is ready to pay such huge amount in the bitcoins.

Yeah,as you said there is no taxes on the transactionof bitcoins.But you need to pay the taxes while you earn income from investing bitcoin as the investment.The most common and diplomatically safe assumption, at this point in time, is that bitcoin trade is a business, and just like any business, income tax needs to be paid on the profit made from buying and selling of this virtual currency

Maybe the only time that the government could actually tax bitcoin is when it is converted to fiat money that the bank has been notified that there is a transaction made from a wallet address. That is the only i could see that the government could actually make some tax in bitcoin transactions. Because right now even if i transfer money to a bank, no charge that the money i sent like 5k stays the same amount after it was received in my credit card.