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16 sats \ 4 replies \ @IgnaciobTato 3 Dec \ on: Stacker Saloon
Can someone tell me how a capital gain for Bitcoin may be taxed?
Do they have a specific day to take the photo and say the price? What happens with all transactions in between? the new french rule is crazy and wrongly applied.
Bitcoin is currency/property/commodity. It is all. No tax should be charged.
It's bullshit. to scare the shit out of clueless normies and noobs.
Only losers declaring their BTC stash can be fooled and those keeping their BTC in a CEX.
Self-custody and never sell back for fiat - that's how you fuck'em'all.
Bitcoin is currency/property/commodity
No. Bitcoin is NOT currency. Currency is money by gov decree.
Bitcoin is simply money. Yes, you can say that is property too, but only in self-custody.
Know the difference between money and currency, are not the same.
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That is already known, but companies are buying BTC legally, and unless BTC is accepted you won't be able to use BTC to spend it.
So, If i decide to declare that I have BTC, how can possible be taxed just for a market price? I can say that this is not what I am willing to sell. Anyway. The whole thing is crazy.
The only solution I see to this intention for countries to tax it, is that more countries declares BTC as legal tender.
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you won't be able to use BTC to spend it.
Watch me. I convinced multiple merchants around me to accept my sats for anything I need. From 2018 ongoing I pay everything in sats, p2p. And they are happy to continue, no matter what.
Those who do not adapt, will be the losers. If those companies that are scared about this crap shit want to give away their sats, I will be happy to take ALL OF their sats.
countries declares BTC as legal tender.
That is a total bullshit. Bitcoin cannot be legal tender. Saying that it means you do not know what is "legal tender". It is debt. Bitcoin cannot be debt.
Every time I hear people talking about "X country will declare Bitcoin as legal tender..." I just laugh. They have no idea what is legal tender.
What is a "legal tender"?
Any retailer or individual could refuse to use a legal tender. Nobody can force you to use it.
Why? What is the point of a legal tender then?
The point is that you cannot force a retailer to accept legal tender or indeed any other form of tender. If, however, you buy something from them and there is no contractual barrier to the use of any form of tender, and you offer legal tender in payment, and they refuse it, then they cannot enforce the debt in court.
That's what legal tender means: it's about discharging debts. If you incur a debt you can discharge it with legal tender, but you cannot be forced to incur the debt in the first place, if you see what I mean...
See more here #511157
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It will be taxed any way THEY think that THEY can tax it!! It doesn’t matter the damage, the inconvenience, the imaginary money they think they are taxing, they will tax it.
Both you and I and probably everybody else here thinks it should not be taxed (just like fiat), but to THEM we do not matter, for we are just tax cattle (chattel).
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