Quote from: cybersofts on January 12, 2018, 01:44:38 PM

Quote from: shooter_mcgavin on May 10, 2011, 05:26:15 PM

Let's Bitcoin takes off. Say you lived in the US and had an online service that dealt in the equivalent of ~20,000 USD or more income for you (personally). What are the laws for income tax on a currency like this? Can you get in trouble with the IRS by simply having tons of BTC that the market values at (currently) almost 5$ per BTC?

Bitcoin is not invented to be taxable because it a digital currency.
But I think people should pay taxes for trading cryptocurrency if their country instead on that, I see nothing wrong with it.

If bitcoin is to be launched in the public and be taught to colleges, i think the government will give taxes to bitcoin. But for me, i dont want bitcoin to have tax. It's better on how bitcoin is working now. As bitcoin is a digital currency, i think we cannot avoid having tax here.