Taxing profits on bitcoin is possible?

[khaler 1549]

It is difficult to impose taxes on cryptocurrencies because they are decentralized currencies and are not subject to any state authority over them.

[fanylu 505]

In many countries it is very difficult to collect tax on Cryptocurrencies that is why the Bitcoin platform escapes from many regulations the government should make laws to tax Cryptocurrencies.

[Dadouasaad123 902]

I do not think that they will be able to impose taxes on cryptocurrencies, the purpose of cryptocurrency is basically to reduce the commission when converting, and not need a middleman.

how will they impose taxes on us?  

Will taxes be paid via the dollar or cryptocurrency?

[Farry 826]

BTC is decentralise currency and not under control .So applying tax on it is reasonable question.But if we apply tax on it then what is the benefit giving us taxes collector.I have read article about U.S collection of taxes from crypto holders for the 2016-17 .They are asking where this money comes from and other hand they don't accept crypto as a currency

[Vola1s 727]

Taxing every Bitcoin profit is possible, as several countries have taxed every crypto transaction on exchanges, for example, in South Korea. There every cryptocurrency transaction will be taxed in fiat a few percent of the income. Even though Bitcoin is decentralized, converting it to fiat requires using an exchange registered with a country. So it imposes taxes via exchange.

[james653 981]

South Korea has imposed taxes on all Bitcoin users.  This will contribute to spreading the culture of encryption and not being afraid when dealing with Bitcoin.  When states impose taxes, this means that Bitcoin is legal and not a scam.

[Maria karam 667]

I think that investing in bitcoin currency is very beneficial, as I have heard about a lot of people who were able to make huge profits by buying bitcoin when its price fell dramatically and then kept it until its price rose again, and this is what made them gain very large gains.

[Jessica7 1132]

There are no taxes on the profits we earn through investment, but there are some fees during the trading operations, or the transfer process

[Xantosis 426]

This i think is very impossible because bitcoin and cryptocurrancy is decentralized and everyone can use it so no one can have a control in it which is among the reasons why the government are going against the use of cryptocurrencies.

[Rose5 916]

Yes actually united States want to hold and manage to bitcoin and they want to collect taxes . But it is not possible and they are trying with continuesly for searching another way for control this . But we are paying taxes on withdraw . 

[Jami ss 843]

My dear friend I want to tell you that the texting profit is not possible on the cryptocurrency at this time and one thing more I want to tell you that the cryptocurrency is illegal in some countries so they are not interesting in the cryptocurrencies due to his price

[Ali iskandr 600]

If you take this method, it must be studied and based on rules. For example, a person who trades with 1,000 dollars cannot be treated as the one who has a hundred thousand dollars, and the taxes must be according to the amount that each person stores.

[Wael154 1134]

Where Bitcoins are kept for less than one year before the sale and/or exchange, a short-term capital gains tax shall be levied that is equivalent to the individual's ordinary income tax rate. If the bitcoins are kept for over one year, however, tax rates on long-term capital gains will be used.

[april1221 303]

On 10/19/2019 at 7:29 AM, Keith700 said:

Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not clear. In practice, any surplus value should be quoted as tax assets as a capital increase. There remain doubts if a benefit in cryptocurrencies is invested again in cryptocurrencies after a theoretical surplus value not transformed into an asset of legal tender must be declared. It is not clear in that case and legal uncertainty may take time to be resolved.

Several countries have accepted cryptocurrency, especially bitcoin, but there are still many countries that have not accepted bitcoin for various reasons. One of the reasons is that the state cannot control bitcoin so that the state cannot monitor it, so the state does not get income or taxes from bitcoin transactions. Each country can make special rules regarding bitcoin that impose taxes on bitcoin users, but these rules must certainly benefit users and the public at large.

[Megan Kyle 955]

There is no tax system on the profit that we earn through investment. This actually is good system that they dont receive tax. When we do transaction then they cut up some chargers. This a transfers process actually. 

[emilywillson 666]

For me, I do not know if there are taxes on the surplus value in cryptocurrencies as an increase in capital, but I know that there are taxes that are imposed on users when withdrawing cryptocurrencies, meaning that there are withdrawal fees for cryptocurrencies.

[Megan Kyle 955]

There is no tax system on the profit that we earn through investment. This actually is good system that they dont receive tax. When we do transaction then they cut up some chargers. This a transfers process actually. 

[Alish198562 436]

My friend, most people have turned to Bitcoin because it is decentralized and not subject to taxation, and countries are fighting it for the same reason, and I think that if Bitcoin is taxed, a lot of people will leave it, because that means canceling all Bitcoin features and making them like fiat currencies.

[Rehaan 380]

Expenses on the benefits of Bitcoin holders is exceptionally troublesome on the grounds that it is absurd to expect to screen the benefits of all Bitcoin holders in a country, yet it is feasible to force charges on significant organizations that acknowledge installment and manage Bitcoin.

[Bhaigo5 633]

Yes dear us want to take texes from investers. And traders but it so not good we pay tex on every thing which we purchase and we are paying tex on Crypto currencies in face of withdraw fee. So we cannot say about future for this . 

[Kiondadu 191]

Hello dear, I think that the cryptotalk is an online transaction of digital currency, so who will now be in charge of the tax because I think the government can never impose that on the bitcoin traders, this is my opinion on this. 

[maryrose979 441]

Digital currencies are a global feature that is easy to trade and invest and has profits. Therefore, if a tax is imposed on this currency first, it will be light and will not affect the percentage of your profits. This tax will be a simple thing in exchange for the benefits that we gain

[Alix188 585]

Many countries are trying to impose taxes on cryptocurrencies and trying to regulate them through regulations, but I think that this is difficult because of the great privacy that cryptocurrencies give us.

[White3319 463]

Some countries use cryptocurrencies as a central currency and then impose large taxes on traders. I do not think that this is a good thing. Rather, these currencies should be adopted and supported in a way that achieves profit for the government and the people.

[Mica 308]

This is a nice look on the benefit generated in the cost of investment and when this comes out in surplus value them the profit is more than expected but in the process of doing this exchange the time you gain accept it and when you also fall it should be accepted in good faith.