Post
Topic
Board Trading Discussion
Re: Bitcoin is not made to apply taxes on it - BTC economic model is different
by
darewaller
on 11/05/2021, 17:15:02 UTC
Bitcoin is not made to apply taxes on it as Bitcoins Economic model is different. If governments want to earn money through cryptocurrency, they must invest in it. It is upto governments to buy Crypto using their reserves and hold it instead of applying taxes as taxes cannot help much since there are privacy USDs.
What are privacy USDs? You mean privacy oriented coins to ensure about anonymity?

I agree governments must think about investing into cryptocurrencies if they want to make money from it but I do think taxes also will help them to make money. When you are even transacting P2P, for a product, if government is aware of production and sales of that product then either seller or buyer needs to pay tax for that. There are very less possibilities for governments to go unnoticing about the production of any goods.

So, government will definitely work on taxation for all bitcoin payments and they may or may not be showing interest on investing into bitcoins aside taxation.