Why would anyone ever use Bitcoin?

Erovaisa wrote: 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

Manne wrote: Bitcoin is not my choice!! Google is your best friend. (Search and you will find what you are looking for)

Regards: Manne

nattika wrote: Sorry i just can't help you with that.

Erovaisa wrote: 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

ixgames wrote: 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


Where did you hear that ? Please post a source so I can look at any details and the site it refers to.