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.
Yes taxes has a purpose it serve as a payment for our community itself to build a better society , and I think it depend on the case of the country if the bitcoin is or will have a taxes but still if the country been implemented bitcoin or legalizing bitcoin. Surely I pay taxes.