Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Well, as long as it is not mandated by the law, why should I pay. Taxes are good because it is used for social development, people's welfare and government projects. What I don't like about taxes is that some politicians are not using it well and they are even stealing taxes from people. It would be good to pay taxes if you know that it is well spent.