Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Where I live, Bitcoin is tax free if you hodl for 1 year at least.
I am still not selling.
Where I live, Bitcoin has been tax-free all the time till now. I am still not selling.
No matter how long you hold it or if you are a day trader.
The government is never looking for your crypto tax here.
Because Crypto is banned here.
BTW, I am not selling either
Sure, some folks want government non-involvement, yet banning takes such non-involvement to another level.
Sooner or later, governments are going to have to grapple with Bitcoin... and I am not even saying that these are going to be easy questions since even smart people still have difficulties differentiating Bitcoin from Bitcoins.
I believe you've seen this meme countless times already. I don't have any issue with the government banning Bitcoin in my country as long as they don't take action against Bitcoin users. One of my neighboring countries has legalized cryptocurrencies and imposed a 30% income tax, which I feel is excessive. For instance, if I make a profit of a thousand dollars, I would have to pay them $300 for nothing.
Currently, all cryptocurrencies, including Bitcoin, are banned in my country. However, the government hasn't aggressively pursued crypto users. Occasionally, we hear about arrests related to crypto businesses, but that's not something I'm overly concerned about. I'm not engaged in any large-scale operations; I'm simply a holder who occasionally sells Bitcoin to take profit.