It will only occur if majority of the people are using bitcoin on their transactions by purchasing and selling. But we have to take note also the role of government into it. They will consider bitcoin as legal if they can impose tax on it.

in the event that you live on a degenerate nation much better to utilize bitcoin as you utilize fiat in everything you are doing in your life the administration you have on your nation would simply get the assessment and spend it for their own utilization/trip so the expense they're getting to the general population is pointless so it is vastly improved to utilize a cash that has no duty IMHO.

Maybe it will kill the income tax as of now, since bitcoin is not common to public, and some other countries still haven't legalized bitcoin, that's the reason there still no tax for bitcoin, but if the government​ already take bitcoin as one of the currency or source of income, then that will be the time where tax will be implemented to us, to the people​ who uses Bitcoin.

It is every part of higher to apply a bitcoin tax because it is impossible to smack the anonymity at the in the future transactions, which is the most important feature of bitcoin. However, I think that in order to be clever to fabricate steadily and for eternity, there are still definite rules to gain taking place bitcoin stay firmly in the push and bring more efficiency to people in description to the world.

Yeah I believe many governments will need to rethink how they approach tax in regards to cryptocurrencies. It is currently a fairly clunky system for investors as it is trying to apply the old stock taxation rules to the crypto space.

Article not found. Why do you think that the income tax is already in the cryptocurrency? Is it because of the cost? Then why do many countries refuse to work with cryptocurrency?

I don't think bitcoin will kill income tax. That is just government and bank fearmongering so they can pass regulations to protect the banks profit margins.

Any argument a person or government uses to say bitcoin will kill income tax is equally (if not more) true of cash. Cash can be used for illegal activities and it is accepted everywhere without a second thought. At least bitcoin transactions are stored on the blockchain.

Eventually the same regulations banks use to send cash to people will apply to exchanges (theoretically they do already). Then bitcoin won't be looked at as any different from trading gold or silver or any other asset/commodity.

Yes, and not only by these criteria should be judged. People will fight, the history of states will be lost, there will be no regulation. It will destroy all the peoples of the world.

These pluses are too destructive for all of humanity. People from the end of the centuries united for their stability and protection. Each of us is a social being. We will not survive without society.

As of now, no tax yet imposed on bitcoin since it was not yet introduce in the government. Is bitcoin will kills income tax, for me slighty yes because many people earn with paying any tax so it will be a foregone benefit of the government.