Quote from: Chestt on August 20, 2018, 12:17:53 AM

Quote from: squatz1 on August 18, 2018, 01:21:19 AM

I'm just going to try to pick apart each thing of what you've said.

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The question and the fear are recurrent. If the government loses money from the collection of taxes, because people are saving in BTC or another Altcoin, will it stimulate the states to regulate the issue?

If you're saving money (or investing) by putting money into an altcoin and not selling it, the government isn't losing anything because you haven't sold yet. They're only going to be losing money if you sell and you don't declare the capital gain THIS IS TAX FRAUD, JUST SO YOU ALL KNOW So based on just putting money into bitcoin years ago and not selling, that's NOT the government losing money. The equivalent in stocks would be buying a stock and not selling it-- like many Americans do.

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Starting from that premise, when you take money from your bank account to turn it into Cryptocurrencies, that money, even if you do not have it, will be subject to taxes.

Not until you sell that Cryptocurrency if you hold it you're subject to nothing.

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In summary, whenever you use cryptocurrencies in conversion between Cripto and FIAt you will be paying taxes, directly or indirectly, for governments it is not a problem, it is for us, that unless we develop, more than technology and the trading market, we develop everything a consumer market without having to go to FIAT, we will be being punished twice.

Well yes, this portion is true.

I just want to stress that the entire crypto community thinks that they're being taxed more than any other investment and this just isn't true if you buy a crypto and sell it within a week you're going to be subject to the same short-term capital gains (which is a much higher rate than the long-term capital gains) which a person who did the same exact thing with a stock would be subject to.

Thanks! That really makes sense. Very useful.

Agree. Thank you for your great explanation. It wasn't so evident to me before. Thanks again!

Bugsy22

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