Post
Topic
Board Economics
Re: Bitcoin and not Paying Taxes
by
BartS
on 18/04/2018, 20:56:41 UTC
I ran across this video a while ago on what can happen to you if you don't pay your taxes.  At some point during your Bitcoin career, the cryptocoin will be converted to fiat and that's how they will catch you.


https://www.youtube.com/watch?v=hf2fNEUPjQw
This is very simple, you need to pay your taxes, no one likes to pay their due taxes and even if I believe that the tax rate is very high in my country we really do not have a chance to do anything else, I know that there are a lot of people that think that they can use bitcoin to avoid paying taxes, but that is a very bad idea if you do that and the amount of money that you earn through bitcoin is significant then you will have to live the rest of your life always looking over your shoulder worried that at some point the tax authorities are going to catch you and put you in jail.