Taxing profits on bitcoin is possible?

[Obliv0n 333]

Of course, you can place taxes on profits related to cryptocurrencies, as long as they are converted to fiat money, there are already precedents for this in Korea, where exchanges must report users who convert cryptocurrencies into fiat money, so that your earnings are marked.

[koala26 158]

It is something that is done in many countries, to put some kind of administration to the profits that we can have from cryptos, but I think it is something that may suit some, and not others, so let's always work under the legality of our countries.

[Jack764 1841]

It is possible to impose taxes on Bitcoin profits if trading is limited only through central platforms only, so that all the balance we pay is counted, and then we can put a percentage on the profits

[Adam786 560]

I think the taxing at the profit of bitcoin is not easy in a lot of countries in which the bitcoin is illegal except those countries in which the bitcoin is legal cryptocyrrency.

[Syriana 350]

There are many countries who are trying to impose control over cryptocurrencies, such as the United States of America, and it came by imposing fees and taxes on cryptocurrency dealers, users, and everyone who deals with them so that the currency is under their control, but I do not think that this will succeed in the end because it is difficult to reach these things

[Spikee 73]

Actually it is difficult for the government because bitcoin payments are paid from different websites and they will not be able to keep records of these transactions. If we withdraw from bank then it is possible.

[Roarnoman12 621]

I think there should be a source which tells us about bitcoin. We need to know everything about bitcoin. We need clear and definite rules, regulations, and history of the bitcoin.

[kion 381]

Well, it is not impossible, bit it would be very difficult to impose tax on cryptocurrecy because it has no any central body that can organize the collection of the tax, so I don't know how it would be possible.

[cryptoman22 1026]

On 10/20/2019 at 8:17 PM, Keith700 said:

Bitcoin is taken by society as a means to obtain fiat currency, being so it is very difficult for society to want to declare it, that is why bitcoin often escapes many regulations. Has to depend by the people 😉 

I totally agree with you since you provide us with an answer in this publication with a lot of sense since bitcoin is taken by society to obtain fiat currency since it is very difficult to declare it this way
A big hello to the whole community and great profits

[Abdur5555 45]

I want to know how the crypto world can be taxed; And if one day governments manage to enforce this law, and use this platform, there will be no harm to us

[Lina52 143]

If there is a comparison for example with taxes the security will be guaranteed 100%.It is possible to make digital assets tax.Taxin profits on bitcoin transaction is not possible at all.

[teebasas 3018]

As long as governments do not yet allow the use of encryption, it is still not organized and cannot impose taxes on its use and make profits from it unless it regulates it and allows people to use it.

[wisesaba 49]

The issue of taxing is the scenario we say easy to say but not easy as it seems.. the taxation of crypto will be a bit hard as lot and lots of regulations need to be put in place to achieve it

[RoyalHouse01 9]

until now there is no way you can track the earning of some one in the cryptocurrency and that is why you can not find any way to impose the tax on it as well.

[Alexander002 91]

I think Bitcoin's tax collection will be very difficult Because there is no third person to control bitcoin. It is more difficult to collect taxes than it is to earn income from Bitcoin.

[Tolani 174]

well,  I don't believe that it is possible to impose tax on cryptocurrencies because it is a decentralized system,  and tax can only be impose some things that are back by a financial institution which can handle the collection. 

[Ameralsamt 2558]

 My friend, the nature of Bitcoin and cryptocurrencies is not commensurate with the imposition of taxes and censorship, but many governments impose restrictions and taxes on them and this is really bad, and it can never be in favor of encryption.  

[Abrar1122 10]

until now there is no way on the basis of which you can put taxes on other cryptocurrency and you can calculate the earning of any person in cryptocurrency or track the portfolio of that person

[Mir Hamza 2888]

If the government is able to tax bitcoin, then in many countries, bitcoin can be labeled as legal, where cryptocurrency is now called illegal. So when bitcoin and cryptocurrency will be legal in all the countries, then many people will also trade on it and start working here, which is beneficial for us. The courier will also prove to be very beneficial for cryptocurrencies and bitcoins. 

[Stiffen white 827]

If government take decisions about bitcoinis legal and any can use in country without any hesitation and give other facility to use cryptocurrency.  Then government right to get taxes. But the government wouldn't take some step about cryptocurrency then it not possible to get taxes.

[Pereira 2303]

Now if you are seeing the case of cryptocurrencies being legal in various countries which the acceptance of bitcoin is through the roof and we can speak of a great growth in these countries by accepting these cryptocurrencies, the clear example in China or Japan that They have a wide acceptance of cryptocurrencies and cryptographic trade in this country is very normal, for this reason the government has a very stable and almost radical economy.

[HadiLord 926]

This is what governments are trying to achieve, but until now it is still not possible, so how will each person’s profits be known as long as cryptocurrencies rely on blockchain technology that is characterized by secrecy and not showing any identity

[chris smith 950]

The taxing is really bad idea and it will decrease the numbers of the traders cause many of us like this job because they do not have any taxes.

[Zulqar1122 98]

I think most of the countries want to legalize it so therefore they tax on the cryptocurrenies .

[HumamAliDeeb 590]

I do not think dear, because this is one of the features of the cryptocurrency that attracts investors, but this may happen if countries adopt the cryptocurrency, and until now we do not know the future of these currencies, and after this argument between central banks and countries and between cryptocurrencies will occur.