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Japan considers bitcoin tax after Mt Gox failure

14 Comments

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The dox are online now. Get in the BitCoin IRC and look for nanashi____, he has the pastebin links.

-1 ( +0 / -1 )

Yep, like I was saying, it needs to be regulated so the banks and government can rip us off as they always have. (Actually I can't recall if I included govts in my previous comment)

1 ( +1 / -0 )

Opens up a whole range of issues. How much will the government spend to tax such a fringe market? Does the government have the technical proficiency to do this? Most Japanese tax officials I have seen are challenged by a PC power button. Would personally recommend against such a knee jerk response, doesn't should like good policy.

7 ( +7 / -0 )

**** off government and your greed. Always grabbing everything and milking money out of it. The TAX we pay you now is enough to change Japan...but the money gets burnt on fancy cars and dinners.

I am tired of corrupt governments. Sigh not that they will ever stop....

How can you TAX bitcoin? You might as well tax my oxygen too.

3 ( +4 / -1 )

I really don't see how they would be capable of pulling this off. This sounds like a decision to appease the majority of government who are afraid about this currency which they just recently heard about and most likely can't even understand how it works. Typical knee jerk response to the unknown.

3 ( +3 / -0 )

Oh yeah right. Just another useless reason that the government will try to get their greedy hands on the people's money. Another tax. Well let's ask this? If there is another problem with Bitcoin as there was at Mt Gox, just how much money is the government going to give back to the rightful owners or to the company so that they company is not at loss and can replace the owner's Bitcoins. I'll bet not one single yen would be given back. The government is only about "give me, give me, give me".

0 ( +3 / -3 )

Well, if Bitcoin users want the police and other government bodies to step in and investigate and help them when there is a thef or whatnot, then I say sure, tax bitcoin use and let it pay its way.

2 ( +3 / -1 )

Ah yes, the governmental solution to everything is, of course, to tax. As I've said before, governments(and their central bank Ponzi schemers) abhor any real competition especially regarding currency. Who do you really think is behind the attacks on Bitcoin exchanges?

0 ( +0 / -0 )

I'd love to know what their ideas are on how to enforce such a thing.

A lot of bitcoin transactions don't involve actually buying anything, for example when you transfer some to another address where you have a more secure private key, or you move some to/from and exchange.

If you want to know how to tax people. you've got to learn from the Americans, make everyone scared enough of going to jail that they'll just declare it as capital gains. You need to build a lot of jails though.

2 ( +2 / -0 )

Terrible solution. Anyway, the way in which Bitcoin is designed would make it incredibly difficult for the government to tax the system.

2 ( +2 / -0 )

The evil tax authorities can't tax bitcoin transactions if they don't know who is making them.

The best they can do is say "hey if you trade bitcoins for yen then pay up on any capital gains", and make it voluntary.

It's best they just leave it alone, and same goes for operations like Mt. Gox. The Japanese government already offers "protections" for people keeping their money with traditional banks. If people want to use bitcoins then they should bear the responsibility for anything that might go wrong, since they have made the conscious decision to move their money to a non-government system.

I believe the risks of using a buggy software based money system is sufficient to keep 99.5% of people using the government backed system.

1 ( +1 / -0 )

@fxgai "If people want to use bitcoins then they should bear the responsibility for anything that might go wrong, since they have made the conscious decision to move their money to a non-government system."

Exactly. And to expand a bit on my above post, I think they should not be allowed use of police services for investigation, the court system for bringing lawsuits, certainly no financial protection in any form. If they want all the joy and freedom! from regulations by the evil governments then they should live with the consequences.

0 ( +1 / -1 )

not cool......30% of my wealth gain last year was from selling off my bitcoins. Unlike the stocks I sold which were all taxed.

I love how my income is taxed, my business is taxed, then when I take the profits after paying all my taxes, and invest them back into the economy, I'm taxed again?

I'm so glad the government is doing such great things with the millions of yen I pay in taxes each year.

0 ( +1 / -1 )

Educator60, I agree 110%. No man is an island. We all use government services. Taxes don't always equal tyranny. Think of them as a fee for living in a civilized society.

0 ( +0 / -0 )

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