Dollar transactions are not taxed like this. What is taxed is sales tax, income, property, etc. this could still be possible in bitcoin.
Discussion
Ok, for that to work, Bitcoin would need to be defined as a currency and not property. Because it's considered property, the value as we move capital in and out is what is taxable as income. Unless I'm not understanding what you mean...
Correct, I would like it classified as currency, personally
But likelihood of that in our lifetime? Meh
I think it unleashes its full potential if itβs given all systems go as peer-to-peer medium of exchange. The rest falls into place. But of course, this will come last or not at all
Do you think it could happen sooner if more countries start treating it as a currency?
Could start a movement of people to change locations and minds.
Ahem⦠do we _want_ Bitcoin to be taxed like that?? Just for holding the asset??