Post
Topic
Board Legal
Re: Should we pay taxes on Bitcoin?
by
aaron_ray
on 16/07/2018, 00:05:35 UTC
Bitcoin was created to liberate us from corrupt governments and corporations that serve their own needs. The coinbase transaction in the genesis block, mined by Satoshi Nakamoto contained: "The Times 03/Jan/2009 Chancellor on brink of second bailout for bank". What is your opinion on paying taxes on Bitcoin? The government most likely doesn't know my bitcoin address. Even if they do find it, based on the transactions made from my bank account to exchanges, I could simply say someone stole the private key from me. Many of the posts here asking for help on filing taxes on their Bitcoin make no sense to me. We have a system that allows complete financial freedom and yet people choose to pay their taxes from it and support crooked governments.
Bitcoin is decentralized and you don't have to pay the taxes untill and unless you convert your Bitcoin to the fiat currency of nation under which you fall. Fiat currency comes under the government regulations and so this comes under the tax category. One must be ready to pay the taxes if the user will not pay tax and suddenly government will find lot of amounts in your bank account that what will you say to them???