I see your point.....just want you to know that governments are very corrupt, you see anything that has to do with money especially easy money as tax money or levy and the likes government don't joke with stuffs like that. Governments are not just angry with cryptocurrencies, they are angry because regular people are making lots of cash from it and yet they are not making any. I don't think they will want to forfeit taxation.
Yes I believe the taxation will be burdened more on the cryptocurrencies exchange sites as they might be taxed incessantly without fairness. Though, I don't actually know if that will make the price of cryptocurrencies rise a little bit but it will eventually bounce back on the traders as they might charged high for transactions by the exchangers.
I don't think so....not all exchanges are paying taxes. Some countries are firm when it comes to the collection of taxes, where by we have some countries who are lax and not as firm as that. We have a lot of exchanges in Africa that are not paying any tax at all and yet they are still in operations.
Apparently I share this view too because if the government wants to start collecting taxes it should be on those exchanges cos they are truly making money but I fear if taxes are being collected from the exchanges, they will now focus their attention on the users of their trading platforms and start taxing them too.
Yeah even in some countries there is a limit to the amount of wealth the citizen in the country can own ,so the government knows that money is the tools and they are making it very obvious for people to know by banning crypto currency ,I wish there was a way crypto existence could be spread to a very wide range of audience , am sure that it's definitely going to be another advantage for the monetary control to reduce
Well said, I think that's the major aim of most corrupt countries, they want their citizens to be pauper so they can puppeteer them around to do their biddings. This is the power of the government, I think cryptocurrencies wants to take power from the government and that's exactly how the government sees it. If people can make money without having to rely on the government, it pisses them off. And when want to rely on them to earn, they won't still provide. Confused set of people!
Although different government with different perspective, I think some are not happy coupled with the fact that they are not making gains and the citizen they are controlling are making gains , because they have seen that inorder for them to keep winning campaign's and others , they need the citizens to be poor and money is what they would use to control them
We all know that some government may not run a dialogue with the citizen concerning crypto tax , because of the hatred they have for crypto currency , they don't just want to see crypto currency reach it's full potential but want a situation where their own flat currency is ahead ,so they would increase tax to make sure it's less used by people
I know that it's impossible to tax Bitcoin or any other Alt coins because they are Virtual assets, they can't be seen, not just as the reality assets. But I think if government wants to do the taxation it will be on the cryptocurrencies exchange sites. It's them that government would tax then they can inturn charge their users.
Well I think that's possible though, but I don't think they would want to run out business because of those taxes......If they are being taxed so high, I definitely know that there would be an amendment to that, by raising a dialogue with the government or if they are being taxed too much they may also start to charge higher fees on any transaction conducted on their exchange site.
Yeah but whichever way, the tax fees would still be deducted from the users of these exchanges, through the exchange owners themselves. If the government tax them excessively but you are trading there, there's a way they will deduct every transactions fee from your trading account that it's going to serve as taxes.
Well you are entitled to your opinion..... However, I think if crypto is taxed, it means the government is supporting it which means we may have larger amount of the world population investing in it and also using it. Don't you imagine what would be the value of Bitcoin or any other major crypto at this time. I think the value will be so huge, that people who are holding few amount of Satoshi now would be rich.
