YES, I pay taxes when I sell my Monero, but I refuse to pay taxes on the Monero I hold.

Do you see the difference? 

I have too much money in crypto to have it visible to the government.

/Over&Out

It’s pretty simple—Denmark discourages people from holding bitcoin, and if you do, they’ll tax you in whatever way they choose. It’s tough to accept, but once the government imposes something like this, there’s nothing we can do except comply, or they’ll forcefully take it from us. In the end, we holders are the ones left at a disadvantage, the ones who have to sacrifice.

I’m not saying I’m against taxing cryptocurrency, but it should be at a fair rate, one that’s reasonable for everyone, rather than something we’re stuck with because we have no choice. Hopefully, other countries don’t follow this path—otherwise, it could be why people turn away from bitcoin altogether.

I think there are so many rich people here, that's why people are complain how high the tax in Western countries.

Poor and middle class people don't mind to pay tax because it won't make them poor, they can still live comfortable compared to living in third world countries. Since the rich gets richer, it's why they want to implement more tax and increase the tax rate.

But, I'm sure they will try to find a loophole to pay less tax.

Western govts may have been run more competently in the past, but that doesn't mean that they are still being competently run today.

For example the EU and US are running massive deficits. In order to fund these incredible deficits they are printing money like there is no tomorrow. Greater poverty and rampant inflation is the result. People simply cant afford to live in the west anymore and in fact large numbers of westerners are moving to more affordable "3rd world" countries.

Western govts are spending money like drunken teenagers binging on their parents credit cards. That is not a responsible way to manage your personal finances, let alone that of an entire country's economy. If it were any third world country doing that it would be described as out of control fiscal mismanagement and corruption. These deficits are unsustainable and will lead to economic collapse sooner or later.

It is a bad comparison because UAE is not exactly a country. It is more like a gas station. It is an artificial colony created about 50 years ago (so the tree in my backyard is older) so that the West has control over some gas and oil fields.

Unlike Denmark the UAE regime's budget doesn't really rely on taxes. It relies on the fossil fuel they cheaply extract out of the earth and sell. Which is why they can afford to not-tax bitcoin related stuff.
Also unlike Denmark, UAE is a dictatorship so the quality of life of the small ~1-2 mil population of it does not matter (note that the rest of the 8-9 mil are foreign workers that are only there to work and send the money back home).

What is noteworthy is that the new bill can only come into force on January 1, 2026, but people will have to pay the new tax regardless of the year in which the bitcoin was purchased, including January 2009. However, for now, this all looks like recommendations for the taxation of cryptocurrencies. And for this bill to be fully approved, it is necessary to receive permission from the Danish parliament. However, as the Minister of Taxes and Duties of Denmark Rasmus Stoklund, recommended: " it is necessary to carefully recheck everything and make the tax in a "simpler" display, since today's projection is very unfair."

As written in the report,

To make things easier to understand, think of your holdings as inventory assets. This includes any assets you bought before they became effective, as long as they’re still in your portfolio. You don’t need to pay taxes on past gains because the reference point is the summary of Bitcoin purchases at the time of buying and their purchase price.

When there’s a cutoff for computation, like next year on November 30, 2025, if the base price (ending price) is $100k, you’ll just need to figure out your profit (current price minus purchase price), and that amount will be taxable based on the percentage they decide. As for the following years, I’m not sure how it’ll be calculated, so we’ll just have to wait for the guidelines if this proposal gets approved.

You still don't understand... privacy is a nice bonus, but it's more about scalability on Layer 1.

I agree that if your goal is to become rich, Monero might not be perfect for you. However, it's ideal if you're already wealthy and simply want to protect your assets from government scrutiny, as I explained in my other posts.

At this point, I'm just repeating myself; I don't have anything more to add other than wishing you good luck with whichever path you choose.

To me, being transparent with the government and lacking scalability on Layer 1 isn't the right approach.

Cheers!

/Over&Out.

Hm, taxing unrealized gain does seem problematic. It doesn't seem to be a common practice with cryptos. If it's capital gain tax, it makes sense that people pay it when profiting. If it's property tax, then people might declare their crypto holdings once, pay the tax and be done with it. That, of course, depends on a country and its laws around cryptos. That being said, it's only a bill, so it doesn't mean it will actually become the law.