Ninjastic
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Board Economics
Re: Bitcoin holders will have to pay their tax?
by
mrcash02
on 01/07/2018, 00:59:43 UTC
Quote from: nelsledma on June 30, 2018, 11:27:15 AM
Quote from: btcjocan on June 27, 2018, 11:06:23 PM
Quote from: markjamrobin on June 27, 2018, 11:06:55 AM
Quote from: kenlyresuello08 on June 22, 2018, 05:29:06 PM
What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.

no need to worry about it. Because the government does not know exactly who owns the bitcoin and how much they own. Bitcoin is completely transparent with the transaction, but it is also completely anonymous on the owner. It's like a double-edged sword.
That's right no need to worry, nothing to worry because government connot trace our transaction. Bitcoin is secure and we are anonymous, there's nothing more files it's just user name and private key.
A government can implement tax only on products and assets and can not implement on a currency. We use different currencies and government has no right over our holding currencies because tax system is limited only to the assets a person has. Actually government is trying to have a grasp and influence on our cryptocurrencies because it is decentralized and they want to benefit by implementing tax over it but this is irrelevant because it is a currency and not asset.

In many countries Bitcoin and any other AltCoin have the same status of an asset. They already apply the same rules of assets on Crypto-Currencies too. However it's not so easy as Crypto-Currency is near to anonymity and it's hard to know who owns Bitcoins. Theoretically everyone has to pay a determined percentage of their profit made with Crypto-Currency to the government, but in case of loss the investor is playing by themself, the government doesn't share the loss...