Re: Are You in Favor to Register Your BTC Address to Trace Transaction and Tax???
Are you in favor to register your BTC Wallet address to trace transactions and impose taxed it? It is a big subject now amongst lawmakers to trace down income and transaction about bitcoins. This has become the talk of the people involved in digital currency lately. So, What do you think?
Definitely a big NO, why would anyone even think of this kind of idea, Bitcoin is the only thing that is not taxed and I am very happy to keep it this way, Now let's assume that the government one day decides to tax Bitcoins, how in the world would they able track it. Bitcoin Addresses can be changed by the buyer and seller, there is no guarantee that the person will transact in his or her name. There are so many possibilities, one can never track it and the whole idea would be a futile.