Quote from: romero121 on October 09, 2017, 05:55:08 AM

Quote from: squatz1 on October 09, 2017, 05:19:54 AM

Quote from: shimbark123 on October 09, 2017, 05:08:12 AM

Yes bitcoin is taxable. Not by means of the government is taxing but I guess that the miners were the one who are asking for taxes. The confirmation is dependable on how much btc you spend. If you will spend the high amount in sending then the confirmation of your transaction will be fast.

Don't even know what you, nor most people on this thread are trying to say but I'll sum it up fast for you bud.

When you earn bitcoins, you're going to have to state that you've earned this -- easiest way is going to be convert these Bitcoins to cash and then file it on your taxes as earned income, as you wouldn't want a fluctuating price present on their as it would fuck with your taxes.

Don't believe what anyone says when they say no, you're going to have to pay taxes on any earned income. Plain and Simple.

Bitcoin as an asset is not taxable. As mentioned in the above quote if the user make use of it directly without converting to fiat the transaction value doesn't get taxed. The same when converted to fiat, based on the value the user will be taxed. Several countries have been making plans to tax even for every transaction same as with gold storage.

This is what we all should understand that the bitcoins in your wallets are not taxable until you convert them in fiat because to tax over the bitcoin network on transactions and savings is somehow a difficult task, and still now it is a challenge for government to implement tax over there.