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The problem is speculation. Since it's an "open currency", the price is set by the market. If every exchange says $1000, then you won't want to buy my Bitcoin
by AtheistOfFail 10y ago
The problem is speculation. Since it's an "open currency", the price is set by the market.
If every exchange says $1000, then you won't want to buy my Bitcoin for $1200. Supply and demand can cause issues.
For example, Bitcoin rose about 15% when Donald J Trump was elected since he said he wanted to tax remittances. Guess what? You can't tax something that's not controlled by the US government.
- rspeer 10y ago> Guess what? You can't tax something that's not controlled by the US government. Uh... you might want to be a little less brazen and loud about your tax evasion.
- AtheistOfFail 10y agoTax evasion is when you make a profit after selling your Bitcoins and don't report it. I'm a good little US Citizen that always pays his taxes.
- petre 10y agoOf course you can. You can tax it at the exchange, when it becomes something controlled by the US gov't. And you can tax companies selling products or services for BTC.
- AtheistOfFail 10y agoYou can tax Bitcoin for the US in an Mexican exchange?
- petre 10y agoNo, but Mexico can tax it for Mexico. And then there are international agreements. Any state would love to tax anything that moves and bitcoins are no exception.
- AtheistOfFail 10y agoPerfectly fair.
- AtheistOfFail 10y agoUnfortunately, you can't tax against a commodity, it's not currency. So, it's basically the same as trading Oil or any other basic commodity.