Quote from: Basmic on April 09, 2018, 02:54:27 PM

Quote from: david_019 on April 09, 2018, 10:56:54 AM

Quote from: orions.belt19 on April 07, 2018, 05:23:04 AM

According to this video, https://www.facebook.com/cnbccrypto/videos/1688689147880991/

Bitcoin is considered as property and therefore whenever you sell your BTCto cash, there are two transactions. You first sell the property to cash value then what you gain from the sale is used as cash. These transactions are therefore taxable.

For HODLers, if you cash out it in less than a year then it would be considered as income so theres tax for that. If you hodl for more than a year, then IRS will consider it as 20% capital gains.

I really love the idea that bitcoin can be considered as a "property" but the question is "how can we accept bitcoin as property if property is something which is legal?" Look government in other countries don't like or support bitcoin and they declare it as illegal others are being quiet about it. Also if we are talking about property we are talking for something that no one has control over it except you and the government law. Outside this authority I doubt to accept the op's opinion.

I do not like any attempts by the government to bring the legislative base for bitcoin. It's even funny to read how you talk about what you like 20% tax bills in bitcoin. Taxes are a fee for the convenience and comfort of living in the country. I am against any attempt to tax bitcoins.

That is right, it is so sad to think that we are giving away 20% of our supposedly allotted for investment or for our savings for future purposes but we need to pay tax for the sake of the corrupt politicians, we are just glad that right now we are not yet required to pay for the tax if then, you already losing 20%.