I've heared that in some countries people have to pay the income tax after buying fiat for their bitcoins. Anyone faced such problem? If yes then how you deal with it in your country?
At one point of view bitcoin is an instrument for investment so ppl buy it willing to get income in their currency.
At the other point it is a currency and it might be used with a purpose of saving. In this case the tax would be stupid.
Tax existed thousands of years ago it even stated in the bible. The only problem with tax is a corrupt collector or government. We can never escape from it with our centralized assets. For me tax is okay as long as it is in the hands of good guys or it is used for the good of the country and community. Here in my country tax is really bad for small businesses and consumers but in term of Bitcoins tax is not that high and is deducted once every cashout that is why I only convert my coins if I really need it the most just to make it worthy. I think people should start using Bitcoins now for better income and less tax than the fiat money they have invested in their businesses. Bitcoin has changed the game of tax and gives us financial freedom.