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❓ASK Should there be a tax on newly mined cryptocurrency coins?

AudraMiller

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Mining is the main way in order to introduce new crypto currency in circulation and increase the supply of any specific coin. However in a recent news article it seems that a cryptocurrency enthusiastic couple has actually gone as far as to tell the IRS in the United States of America that they have no obligation to tax the newly mined cryptocurrency coins. Do you think that this is fair? And do you think the cryptocurrency that is being mined by any specific user should be taxed in any way?
 
Considering the fact that miners spend a lot on electricity and Mining operation , adding taxation to them will lead them into increasing their Mining fee.
 
Mining is the main way in order to introduce new crypto currency in circulation and increase the supply of any specific coin. However in a recent news article it seems that a cryptocurrency enthusiastic couple has actually gone as far as to tell the IRS in the United States of America that they have no obligation to tax the newly mined cryptocurrency coins. Do you think that this is fair? And do you think the cryptocurrency that is being mined by any specific user should be taxed in any way?
Mining cryptocurrency as really become an important issue because the cost of mining power is really high and need maintenance regularly,instead of stopping the mining, money realize from tax could sort out the issues.
 
Mining cryptocurrency as really become an important issue because the cost of mining power is really high and need maintenance regularly,instead of stopping the mining, money realize from tax could sort out the issues.
Absolutely if countries that are allowing cryptocurrencies to drive likewise mining the only thing they can do is to tax in the minors and make money to cover up for the losses.
 
If this can be introduced then it's fine but it shouldn't be so high that it will chase miners away because if your tax is low it will definitely attract investors to come in and invest but if it's high then investors may likely run away so I think that the tax should be moderate.
 
Such question is not for us to decide. Plus, it's not like we can influence it anyway. It's up to the policymakers in each country to decide. Obviously, most governments want to tax virtually everything, not just crypto to maximize their tax revenue. That won't be a problem in advanced countries with low corruption rate.
 
And do you think the cryptocurrency that is being mined by any specific user should be taxed in any way?
NO !!!!!!!!! screw the tax man, shoot him dead, hang him from the highest pole, tar & feather the tax man & run him out of town !!!!!!!! the tax man always wants what they think they deserve. there are taxes being collected on things that there are no laws about, so how can the tax man tax something he doesnt have any right to tax ??¿
 
NO !!!!!!!!! screw the tax man, shoot him dead, hang him from the highest pole, tar & feather the tax man & run him out of town !!!!!!!! the tax man always wants what they think they deserve. there are taxes being collected on things that there are no laws about, so how can the tax man tax something he doesnt have any right to tax ??¿
I do understand that a lot of countries have a very high taxation rate and as a result it is very difficult for people to maintain the lifestyle that they have considering that half of the income actually goes towards the taxman however I think that it is necessary in order to try and maintain the country.
 
If this can be introduced then it's fine but it shouldn't be so high that it will chase miners away because if your tax is low it will definitely attract investors to come in and invest but if it's high then investors may likely run away so I think that the tax should be moderate.
If it is very high then it will discourage people from getting involved with cryptocurrency and this will be very bad for the cryptocurrency market and its development in the future and it will also affect how much of an income the government is actually getting because less people will be involved in mining cryptocurrency.
 
If this can be introduced then it's fine but it shouldn't be so high that it will chase miners away because if your tax is low it will definitely attract investors to come in and invest but if it's high then investors may likely run away so I think that the tax should be moderate.
Yeah the tax should be a moderate one ,the one that would be more likeable by miners , because once the miners starts seeing high tax , they would obviously want to mine in other countries where the mining tax and difficulties is much more lower , no miners would be comfortable mining in a non convenient environment ,they won't just like to mine in that particular remark
 
Yeah the tax should be a moderate one ,the one that would be more likeable by miners , because once the miners starts seeing high tax , they would obviously want to mine in other countries where the mining tax and difficulties is much more lower , no miners would be comfortable mining in a non convenient environment ,they won't just like to mine in that particular remark
And that is the truth when it comes to crypto currency mining because if you are experiencing a lot of taxes when it comes to that specific country then you can simply take the equipment that you have and move it to another country that is more open to cryptocurrency mining and that way you will be a lot more profitable.
 
And that is the truth when it comes to crypto currency mining because if you are experiencing a lot of taxes when it comes to that specific country then you can simply take the equipment that you have and move it to another country that is more open to cryptocurrency mining and that way you will be a lot more profitable.
Yeah definitely ,I think that's actually what most people do ,they would move the mining rig to another country to mine as they want to mine and earn the profit they actually want to earn with low taxes ,they can't keep suffering themselves in a zone where other zones offers them a very good offer at that moment and point in time tho
 
Mining is the main way in order to introduce new crypto currency in circulation and increase the supply of any specific coin. However in a recent news article it seems that a cryptocurrency enthusiastic couple has actually gone as far as to tell the IRS in the United States of America that they have no obligation to tax the newly mined cryptocurrency coins. Do you think that this is fair? And do you think the cryptocurrency that is being mined by any specific user should be taxed in any way?
The government tax people for using electricity and also tax various business enterprises, mining as we all know requires a lot of power and energy source so it won't be out of place if they are tax,they may say they are using solar or other form of energy but you choose to use a location in the government space,so tax should not be evaded.
 
the governments tax everything they can. they also double & sometimes triple tax people. the usa is probably the worst. the usa has world wide taxation on their citizens. only 1 other country does that, ethiopia. if you work own a house, own land, buy a car, etc, outside of the usa, you are legally obligated to declare that every yr in the usa. and pay taxes on the things you own outside of the usa. what rubbish is that !!!!!!!

many people dream of being a usa citizen but many regret it afterwards. there is a mass exodus of usa citizens renouncing their citizenship's because of tax reasons. good for them !!!!!
 

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