Quote from: BitHodler on September 12, 2018, 06:11:08 PM

Quote from: LeGaulois on September 12, 2018, 12:57:35 PM

It is already taxed. Since trading is taxed, no matter if you trade Bitcoin, fiat, or potatoes you are supposed to pay your taxes related to the profits. I am referring to regular traders as a job, not random users trading $10 weekly.

It makes me wonder, are people really that ignorant to believe that you don't have to pay tax over crypto trading activities, or are they blindly assuming that because crypto is "anonymous" they can keep avoiding taxation.

Either way, everything over a certain amount is subject to taxation. The only difference is that the rates depend on what you are trading or holding, and in this specific case countries may have a different opinion on what Bitcoin is.

Quote from: LeGaulois on September 12, 2018, 12:57:35 PM

I am currently paying 5.5% but I was supposed to pay 20.6%

Not sure where you're from, but in some countries the difference between short term and long term gain taxation is quite significant. In my case ~22% is the highest tax rate for longer term gains. It seems to be an average figure.

Japan seems to be going crazy with 55%. That's straight theft.

As long as you stay within crypto, there's no way in hell they can tax it. However all these idiot kids that suddenly become rich, sell and buy a lambo, are wondering if they need to pay tax or not. Of course you will pay tax.

Even if you bought the car without going through fiat (for instance, there are ways now to buy luxury cars with bitcoin) the government would eventually find out you own a supercar and will ask where they money came from, you must be able to prove you didn't get paid for illegal activities, then you will get that money taxed.

The only thing you can do is to "vote with your money" so to speak. That means, go to the country that better serves your interest, ideally with a jurisdiction that will not be trying as hard as possible to label you a terrorist because you dealt with crypto and will basically confiscate your hard earned money.