Quote from: Hamphser on February 01, 2018, 10:10:40 PM

Quote from: MadScienceSocks on January 25, 2018, 06:55:59 PM

Cryptocurrency and taxes. It is controversial topic. Noone want to pay taxet especially for bitcoin. Now this is a very profitable business and soon the government can introduce taxes on cryptocurrency nevertheless. But we can`t "touch" or "hold" it so in what way cryptocurrency might be taxed?

In my opinion, cryptocurrency may be taxed in the same way as a program or any sale or purchase transaction. Regardless of what you are selling, if you are profiting, you are required to pay tax.

What do you think?

This is a never ending argument and issue about bitcoin towards government and taxation where we do always assume that government can able to impose taxes directly which isnt really possible but in regard or terms of cashing it out into local fiat then thats the time on where they would set in and do require those obligations (tax) to be paid off. People can easily hide their money through bitcoin but they cant really avoid when they are already cashing it out.

And that's the reason they are trying their best to control the cryptocurrency market especially they always make negative news to the public just to shutdown the value of bitcoin as well as the alts.
I hope authorities or personalities stop fud and just do a decision to regulate or ban cryptocurrency, crypto trading is all over the world not centered on a single country.
Going back to payment of tax, if i trust my government of course i will pay my tax but if not i will try to minimize the tax or even avoid it as much as possible because i know my money will go into waste because of corruption.