Why would anyone ever use Bitcoin?

[Xilenciso]

I have been thinking about using bitcoin to fund an account. Until, lol, I read where every time you buy a bitcoin, you get taxed on the value of it (???)....That simply can't be true, can it? Then, if you win and convert back to cash, you pay capital gains taxes on that? What's the point if you get taxed en you buy, then taxed when you sell?

Can anyone tell me where I am going wrong with bitcoin?

Thanks

 

[Frank]

You are reading the wrong articles...

 

[Xilenciso]

What can you say about this? DO yo have any considerations or maybe advices?

 

[Frank]

In most countries there is always some type of capital gains tax if you are trading for profit.. it all depends on where you live.. but for a simple transaction like payment.. how would they charge you? it would be no different to being taxed on regular earnings.. and could only be taxed once converted into a currency.. so you are not taxed on bitcoin.. but profit as a individual or business..

 

[Xilenciso]

So, I understood it correctly, for personal purpose it more profitable?